Talk:Income tax in India for Corporates
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From 2005-06, electronic filing of company returns is mandatory
Companies are charged a 15% dividend distribution tax.
questions on "handling project in Libya"
We are Consulting Engineers providing services in various Engg. fields (Public Helath Engg. & Designs) and we are registered Ltd. co. in India (Resident). Now we are handling project in Libya. And we have given sub Consultency work (Part) to an Australian Co. for the same project. The Australian Co. will submit their reports to our Indian office in turn we submit the same to our client. We have opened our Bank a/c In Bahrain (Country) to enable us to Receive the amount from our Client and pay to our Creditors. And we inform you that you are making payment to our Australian Sub Consultant by our Bahrain Bank Account. Question is Whether we have to deduct TDS while making payment to Australian co. from our Bank a/c in Bahrain country? if yes, what is the Rate of TDS?
With Regards,
-- Girish (via email)
Agreement was entered by us and Australian Company in India only.
-- Girish (via email)
ANSWER: SINCE YOU ARE LIMITED COMPANY YOU MUST BE ENJOYING THE SERVICES OF YOUR C.A. ANYHOW, SINCE YOU HAVE ASKED A SPECIFIC QUESTION WE WOULD LIKE TO INFORM YOU THAT AS THE SERVICE PROVIDER DOES NOT HAVE A PE IN INDIA NOT THEY DO NOT QUALIFY FOR GETTING TAX DEDUCTED BY YOU. NEXT TIME DO THE AGREEMENTS ALSO OUTSIDE INDIA. For that kindly contact our CA Mr. S. S. Agarwal at ssunderagarwal@sify.com.
Question: IT Return for a private limited company?
We are a private limited company with revenue less than 40 lakhs what is the due date for filing the IT return . (NF-LP)
ANSWER
BEING PVT. LTD COMPANY YOUR ACCOUNTS ARE REQUIRED TO BE AUDITED UNDER COMPANIES ACT, HENCE YOUR LAST DATE FOR FILING OF INCOME TAX RETURN IS 31ST OCTOBER, 2007 . ssunderagarwal@sify.com
Question: ROC return for a pvt ltd company?
We are a private limited company with revenue less than 40 lakhs what is the due date for filing the ROC return.
ANSWER
BEING PVT. LTD COMPANY YOUR ACCOUNTS ARE REQUIRED TO BE AUDITED UNDER COMPANIES ACT, HENCE YOUR LAST DATE FOR FILING OF BALANCE SHEET WITH ROC IT IS 31ST OCTOBER, 2007 AND FOR ANNUAL RETURN IT IS 30TH NOVEMBER, 2007. ssunderagarwal@sify.com
