Sebi offers a way over FPI tax rule hurdle
You can add further comments to your query by clicking on "Add Comment".
This link will appear only, if you are logged-in with your user id and password. The same will appear as
"Querist Comment" on the Forum.
Click here to Post your Query >>5987 unanswered question(s) — Showing 181–200
| Que. Id | Date | Description |
|---|---|---|
| 21416 |
Mar. 01 2025 |
Input reversal details in annual return. –
(GST)
when a dealer has wrongly availed Section 17(5) input during 2023-24 and has reversed the input in subsequent year in September 2024 by making payment in cash the GST input credit and interest through DRC03,whether the reversed tax input credit is to be disclosed in clause 12 and 7E of annual return of 2023-24? BY: SANTOSH JAGANNATH PAI No answers yet View Answers | Post Answers |
| 21417 |
Mar. 01 2025 |
Corpus fund of trust/Society not registered under Income Tax Act –
(DIRECT TAXES)
Corpus fund of trust/Society not registered under Income Tax Act. Whether taxable? BY: Sivaraman A.R. No answers yet View Answers | Post Answers |
| 21413 |
Feb. 28 2025 |
Notice under section 250 of the income tax act 1961 –
(DIRECT TAXES)
Received notice under section 250 of the income tax act, 1961 on 25-02-2025 in connection the appeal filed against the order under section 147 r.w.s.144 of the income tax act, 1961 passed by Assessing Officer vide DIN NO ITBA/COM/F/17/2019-20/1020814100(1) on 20-11-2019 for the assessment year 2012-13. Appeal files on 20-11-2019 As per section 250, CIT Appeal must issue the order within one year from the end of financial year in which the appeal file. and in special case within next one year. Hear is last date 31-03-2021 and in special case the last date is 31-03-2022. but here notice is being issued on 25-02-2025. PLESAE ADVISE AND PROVIDE CASE LAW FOR CHALLANGING THE NOTICE VALIDITY. BY: RAJEEV KUMAR No answers yet View Answers | Post Answers |
| 21411 |
Feb. 27 2025 |
Foreign Dividend Treatment –
(DIRECT TAXES)
An assessee, resident individual, received Dividend on ESOP shares held in US company. They have deducted tax @ 25% in the USA. We have filed the ITR using DTAA rates, but while processing CPC treated it as normal income and taxed at normal rate leading to a tax demand. Please advise, is it correct to treat the foreign dividend as Income Chargeable at Special Rate or should it be at normal rate. BY: CA. VASUDEVAN P K No answers yet View Answers | Post Answers |
| 21412 |
Feb. 27 2025 |
082701 –
(INDIRECT TAXES)
A nonresident according to Income tax defination has returned to India permanently .However his stay during 2024-25 Financial year will be around 90 days . During the previous three years period he has npt visited India (1-4-21 to 31-3-24) Can he apply for GST registration as residents apply BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 21409 |
Feb. 26 2025 |
Removal of Auditor –
(AUDIT)
We have been appointed as a Statutory Auditor in a company for 5 years. The Company went into CIRP process. The Resolution Professional has removed us even though our term were not completed and appoint another auditor. Our fees were outstanding and thats why we have not given NOC to the incoming auditor. The incoming auditor has accepted the audit without our NOC. Can the incoming auditor accept the audit without the NOC of previous auditor when the company is in NCLT. BY: manoj sethia No answers yet View Answers | Post Answers |
| 21410 |
Feb. 26 2025 |
Gst officer uploaded Assessment order and DRC 07 for FY 18-19 on gst portal after the expiry of limi –
(GST)
GST officer Physically signed the assessment order on 29/04/2024 for FY 2018-19 but uploaded the same along with DRC 07 on 04/05/2024 on the GST portal. Whether the above assessment order is treated as time barred as the last date for issue of order for FY 2018-19 was 30/04/2024? Further physical signing of Assessment order is allowed as per Rule 26 of CGST rule? BY: CA MADHUR ZANWAR No answers yet View Answers | Post Answers |
| 21408 |
Feb. 25 2025 |
87A rebate on long term capital gain on sale of land –
(DIRECT TAXES)
We have filed a return for F.Y.2023-2024 by claiming Rs.25000 87A on long term income capital gain on sale of land Rs.298000 in addition to regular income of Rs.360000. . But 87A not allowed on capital gain. Even after filing revised return the position is same. What action to be taken BY: CA ATUL TOSHNIWAL No answers yet View Answers | Post Answers |
| 21407 |
Feb. 24 2025 |
TDS on Foreign Payment –
(DIRECT TAXES)
Hi All, An assessee is going to make payment to a Foreign Company for the repair work done on a machinery part based on the Invoice issued. The Foreign Company don't have any presence in India. Bank is advising to use the purpose code S1023 - Technical Services for Form 15CA/CB. Since the work done was outside India and the Foreign Company don't have any establishment in India, does the remittance attract sec 195 for TDS deduction. Please advise. BY: CA. VASUDEVAN P K No answers yet View Answers | Post Answers |
| 21405 |
Feb. 16 2025 |
082701 –
(MISC.)
Are MSME Registered Audit firms getting any preference for Audits or it is limited to Business sector only BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 21406 |
Feb. 16 2025 |
TDS on Salary –
(DIRECT TAXES)
A person who is working in Dubai for an Indian Company and receiving salary for getting Sales for Indian company . And the salary paid by company to the person without TDS deduction u/s 192B. Whether TDS will be deductible? If He is resident If He is Non - resident. BY: DEEKSHA GARG No answers yet View Answers | Post Answers |
| 21404 |
Feb. 15 2025 |
Statutory Bank Branch Audit –
(AUDIT)
I have done Audit for 4 years of a particular bank continuously. Thereafter i took one year break. Now again can i do Statutory bank branch Audit of the same bank? BY: PAREKH DHARAMESH No answers yet View Answers | Post Answers |
| 21403 |
Feb. 14 2025 |
HSN OR SAC CODE –
(INDIRECT TAXES)
I, wanted to know that regarding applicability of HSN or SAC Code under GST on the transactions regarding Interest received on late payment by buyer. As section-15(2)(d) of CGST Act, says the value of supply also includes interest, penalty, and late fees for delayed payment of any consideration for the supply of goods or services or both. The same will be taxable at the rate at which such goods or services were taxable. In short, the classification of interest cannot be different from the classification of such goods or services. Please help in determining HSN or SAC Code as well as How to reflect it in GSTR-1 (Table-12 HSN Summary of Outward supplies with UQC) BY: CA. SHAH AMIT ANIL HANSA No answers yet View Answers | Post Answers |
| 21401 |
Feb. 13 2025 |
Taxability of NRI –
(DIRECT TAXES)
Divya is working as a Technical Advisor (contract role) for Quintessence Technology as freelancer and receives a net salary of ?2,35,000 per month after 10% tax deduction in Malaysia. The salary is received in her Indian bank account, but she is NOT residing in India and qualifies as an NRI. Whether this will fall under section 5 of Income tax act and same will be taxable on the basis of receipt if not what is the taxability as per section? BY: DEEKSHA GARG No answers yet View Answers | Post Answers |
| 21402 |
Feb. 13 2025 |
Peer Review –
(MISC.)
As per recent peer review notification, practice units which propose to undertake the statutory audit of entities which have raised funds from public or banks or financial institutions of over 50 cr or any body corporate including trusts which are covered under public interest entities are required to have PRC. My query is which trusts are covered under public interest entities ? Whether all public charitable or religious trusts are covered under this category even if they have not raised funds from public or bank above 50 cr ? BY: CA KEYUR SUKHWANI No answers yet View Answers | Post Answers |
| 21399 |
Feb. 12 2025 |
REBATE UNDER SECTION 80GGC ( DONATION TO POLITICAL PARTIES) –
(DIRECT TAXES)
UNDER NEW TAX RAGIME, CAN WE DO DONATION TO POLITICAL PARTIES AND CLAIM REBATE UNDER SECTION 80GGC FOR THE FINANCIAL YEAR 2024-25. PLEASE ADVISE BY: RAJEEV KUMAR No answers yet View Answers | Post Answers |
| 21400 |
Feb. 12 2025 |
Transit Rent Received by Legal Heir –
(DIRECT TAXES)
In few of the rulings High Court has clarified that Transit Rent i.e. Rent received for temporary accommodation by the owner of a property under redevelopment will be considered as "Capital Receipt" and hence will not be subjected to tax. However, in case where the developer / builder has defaulted in payment of rent and pay in arrears after a few years after the death of the owner, the arrear is paid to the legal heir of the deceased owner, what will be the Income Tax Treatment of the arrears received by such legal heir. BY: SHRUTI P BUDH No answers yet View Answers | Post Answers |
| 21398 |
Feb. 08 2025 |
Requirement of registration –
(GST)
If a person is having authorized service station of any vehicle company but his total turnover is Rs.12 lac only, whether he is liable for compulsory registration as per Section 24 of CGST Act? BY: CA ATUL TOSHNIWAL No answers yet View Answers | Post Answers |
| 21397 |
Feb. 05 2025 |
082701 –
(DIRECT TAXES)
A cooperative society was issued intimation by CPC in 2015 raising demand of Around 2.50 Lacs by disallowing Sec 80 P deductiowhile filing IT return the professional had wrongly mentioned status as cooperative bank instead of cooperative society The secretarey of the society was not aware After issuing refunds till 2021-22 Fin Year Income tax departmewnt has started adjusting refund against pending payment which has become around Rs 9 Lacs because of interest Appeal filed with Commissioner appeal to condone delay in filing appeal has been dismissed stating they there is not sufficient cause for delay Whether going to Tribunal is advisable as case has been dismissed on technical grounds not on merit BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 21396 |
Feb. 04 2025 |
Section 50(1) vs Rule 88B(2) –
(GST)
Taxpayer has missed out two invoices in GSTR 1 and GSTR 3B for the FY 2021-22 but reported in GSTR 9 and paid the taxes and interest on net liability. (ITC was maintained from due date till the payment at the time of GSTR 9). But the officer issued SCN to pay interest on entire taxes i.e., interest should be paid on gross liability as per Rule 88B(2) as the taxpayer did not reported in GSTR 1 and 3B. Any supporting inputs to pay interest on cash portion only? Thanks in advance BY: CA. MADAGALA VENKATA RAMANA No answers yet View Answers | Post Answers |
