Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 15477 |
Aug. 03 2013 |
Exemted services relating to educational institution –
(INDIRECT TAXES)
Wheather house keeping security services provided to educational institution is exempt from service tax BY: CA KISHOREBABU Y No answers yet View Answers | Post Answers |
| 15442 |
Jul. 25 2013 |
AUDIT –
(AUDIT)
As per guidelines one CA can Audit 45 Tax Audit USec. 44AB excluding Audits USec. 44AD but is Smart Tax Software this option can be exercised only if Books of Accounts not maintained is opted, other wise it is counted in 45 Tax Audit. What is the way out? BY: CA Prem Nath Aggarwal No answers yet View Answers | Post Answers |
| 15443 |
Jul. 25 2013 |
IS CARO Applicable to a Foreign LiasonBranch Office? –
(AUDIT)
My Client is a foreign branch office in India as it does not fall under the exclusion criteria of the CARO 2003. BY: Yasaswy Sarma Veluri No answers yet View Answers | Post Answers |
| 15437 |
Jul. 23 2013 |
capital gain - section 54F –
(Capital Gains)
there is a long term capital gain of 6 lacs on property sale. assessee purchased a new house property of 50 lacs. but invested only 5 lacs from his pocket and took loan for balance amount. effectively he invested only 5 lacs out of capital gains. however he is paying interest on housing loan and repayment of loan...whether this qualifies as invesetments made?? also if the money is now put in capital gain saving scheme and housing loan is repaid throught that can it be a valid investment made for capital gain purpose? BY: Mihir No answers yet View Answers | Post Answers |
| 15436 |
Jul. 22 2013 |
Audit of Quarries- –
(AUDIT)
* Is there any comprehensive book technical paper on this subject.? * I need to understand the stages of production -own quarry, bought out from other quarries ,the measurement of production (with govt records) validating the same with Mining rights, royalty, govt returns payment of seinorage charges... BY: S.Balasubramanian. No answers yet View Answers | Post Answers |
| 15432 |
Jul. 20 2013 |
TAX AUDIT –
(DIRECT TAXES)
Sir, An Individual is doing Manufacturing Business. During the FY it has Sales of Rs.95 lacs and Job Work Income of Rs. 15 Lcas. He is showing his net profit @ 9 of Gross Sales. Whether his accounts are subject to Tax Audit, since Total Sales are Rs 110(95+15). Or not. If Job Work Income is not treated as Sales Turnover. Kindly advise. BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 15433 |
Jul. 20 2013 |
category exemption, if any –
(Service Tax)
Deepening and beautification of pond located in a village being used by public of the said village,service provider is a contractor and recipient is a public sector.Under what category of service the activity falls,and whether the said service is exempted after 01.06.2012 ,relevant notification. BY: LAXMI PRASAD SAHU No answers yet View Answers | Post Answers |
| 15417 |
Jul. 16 2013 |
VAT on Capital Goods in Karnataka –
(VAT/Sales Tax)
As per entry 20 of the Third Schedule of Karnataka Value Added Tax Act 2003 there are certain powers given to notify certain items as capital goods to be charged to VAT at 5.5. Now my question is whether all the items specified in the said notification are to be deemed as capital goods irrespective of the use of such goods in the hands of consumer? How can we Distinguish whether the purchaser is buying it for final consumption or to resale? If the purchaser is buying it for the purpose of resale, should the vendor charge at 14.5 instead of 5.5. BY: Prashanth Karanth No answers yet View Answers | Post Answers |
| 15395 |
Jul. 11 2013 |
DEMAND NOTICE OF TDS US 200A 201(1A) –
(DIRECT TAXES)
ONE OF MY CLIENT RECEIVED TDS DEMANT NOTICE US 2001a AND 201(1A). HE PAID HIS DEMAND.BUT I WANT TO KNOW HOW TO REPLAY TO INCOME TAX DEPTT. WHAT ARE THE PROCEDURE TO REMOVE DEMAND ENTRY FROM INCOME TAX DEPTT. RECORD THANK YOU BY: PAWAN GUPTA No answers yet View Answers | Post Answers |
| 15397 |
Jul. 11 2013 |
Classification Under excise –
(INDIRECT TAXES)
Dear SirMadam, I have a trouble in classifying the Hydrated lime as per excise tariff because Hydrated lime is called in chemical language as Calcium hydroxide Hydrated lime is not not direcly found in Tariffentry. in wikipedia (sen.wikipediawikiCalcium_hydroxide) it is explained as Calcium hydroxide is traditionally called as slaked lime. and it is stating that it has many names including hydrated lime,builders lime and choona. calcium hydroxide is subjected to excise duty @ 12 as per tariff entry 2825 90 40. whereas slaked lime is subjected to nil rate of duty as per tariff entry 25222000. please help in classifying the above. Thanking you in advance Best regards, Prasad BY: prasad reddy b No answers yet View Answers | Post Answers |
| 15398 |
Jul. 11 2013 |
CAPITAL GAINS ON LAND AND BUILDING –
(DIRECT TAXES)
Assessee companys balance sheet shows Land and Building seperately. Builing of 4 floors were constructed by the assessee company on land purchased. It has sold only its 4th floor for Rs 5 cr without segregating the land and building cost in sale agreement. In my Tax depreciation schedule i have block land 5 cr and block buiding as 2 cr. How should i apportion the sale consideration of Rs 5cr to builing and land at the time of filing of return. Conveyance of the land is pending. BY: MITESH NADKARNI No answers yet View Answers | Post Answers |
| 15381 |
Jul. 06 2013 |
Claiming refund of TDS which do not reflect in form 26AS due to not having PAN –
(TDS/TCS)
Tax was deducted from assessee from interest income for the FY 2010-11 and 2011-12 at double the rate due to not having PAN. Consequently the tax credit not appeared in form 26AS. What is the procedure proof required for claiming the refund by filing the return income for 2011-12 (assuming that time limit elapsed for the FY 2010-11 and refund cant be claimed). The assessee do not have any other income. BY: Suresh Raman No answers yet View Answers | Post Answers |
| 15326 |
Jun. 25 2013 |
Deduction of Processing Fee paid for loan against shop –
(Income From House-Property)
Assessee has purchased a commercial premise. He has taken loan from bank. He paid loan processing charges. He has given the said premise on Rent. can assessee claim any deduction of loan precessing charges against house property income? BY: SUNIL KUMAR JAIN No answers yet View Answers | Post Answers |
| 15323 |
Jun. 24 2013 |
Exemption of services proded to educational boards –
(Service Tax)
An assessee has been providing services to various educational boards (e.g. ICSE, ISE, West Bengal Board and various similar govt educational board) the services provided to these organisations are printing of admit card, mark sheet and such other services under similar categories. The assessee is registered in Service Tax department under " BUSINESS AUXILLIARY SERVICES " from year 2008, In this regard I want to know whether services provided under this category is taxable or not for the F.Y. 2010-2011, 2011-2012 2012-2013. BY: Poonam Chand Soni No answers yet View Answers | Post Answers |
| 15308 |
Jun. 20 2013 |
Accounting of Interest on cumulative FD –
(DIRECT TAXES)
The assessee is regularly following cash system of accounting for Interest on FD which is the only taxable income of the assessee. The bank has deducted tax at source (TDS) for interest acrued on cumulative FD on March 31st and appeared he same in form 26 AS. whether the assessee is liable to disclose all the interest on acrual basis. If not how to claim refund of TDS if the income is below the limit. Thanks BY: Suresh Raman No answers yet View Answers | Post Answers |
| 15277 |
Jun. 13 2013 |
What is Repairs Maintenance of ORIGINAL WORKS –
(Service Tax)
1. Entry No. 12 of M.E.N exempts "services provided to the Government, a local authority or a governmantal agency by way of....REPAIRS, MAINTENANCE......of (a) a civil structure or any other ORIGINAL WORKS.." 2. Original Works as defined as "(i) all new constructions, (ii)...alterations... to make damaged structures workable, (iii) erection,....plant machinery..." 3. What is meant by "REPAIRS MAINTENANCE OF ORIGINAL WORKS".As original works itself means to bring into existence something new. BY: Praveen Kumar K No answers yet View Answers | Post Answers |
| 15233 |
Jun. 05 2013 |
import of services –
(Service Tax)
Indian company has taken consultancy from US real estate consultant for evaluation, development, construction and acquision of immovable property situated in US. Whether Indian entity is liable to pay service tax? BY: Dipti N. Gosar No answers yet View Answers | Post Answers |
| 15235 |
Jun. 05 2013 |
Treatment of Foreign Exchange Fluctuation on Capital Advance and Capital Creditors –
(MISC.)
Dear Friends, Please help me out with the treatment of Foreign Exchange Fluctuation GainLoss in realtion to capital advances creditors. Example i purchased an asset worth 100 USD on 01.01.13 when the exchange rate was RsUSD 45. The payment was settled on 31.05.2013 when the exchange rate was RsUSD 47. On 31.03.2013, the exchange rate was RsUSD 46. So, i have a FEF of Rs 100 on 31.03.2013 as well as that of Rs 100 on 31.05.2013. As per me this should go to PL as creditors are monetary items and any FEF relating thereto should go to PL. There is another view that since the FEF is relating to a capital asset, it should be adjusted with the value of the capital asset. Similarly, consider a case wherein i paid an advance of 100 USD for acquisition of an asset on 01.01.13 when the ex rate was 45 and the asset was acquired on 31.05.2013 when the exchange rate was 47. The ex rate on 31.03.2013 was 46. The FEF of Rs 100 each on 31.03.2013 and 31.05.2013 should go to PL or should be capitalised? Note I am not referring to the case wherein we take a foreign currency loan for buying an asset and then there is a foreign exchange fluctuation in the value of the long term liability. BY: Vikash Patodia No answers yet View Answers | Post Answers |
| 15212 |
May. 29 2013 |
procedure for appoinment of director as MD –
(CORPORATE & OTHER LAWS)
Plz give me a detail procedure for change in designation of a director from director to MD? BY: DINESH KUMAR SINGH No answers yet View Answers | Post Answers |
| 15213 |
May. 29 2013 |
STAMP DUTY FOR P.O.A –
(MISC.)
Hi professional brethren I want to make a General power of attorney in Hyderabad on behalf of a person leaving to U.S.A. What is the stamp duty in Hyderabad ? If the same has to be registered what are the charges Can the power agent be in Chennai when the person giving the power is in Hyderabad? is there any difference when the same is by son to father? BY: Natarajan Janardhanan No answers yet View Answers | Post Answers |
