Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5986 unanswered question(s) — Showing 2201–2220
| Que. Id | Date | Description |
|---|---|---|
| 14850 |
Feb. 22 2013 |
Applicability of PF Act on contractor workers –
(MISC.)
A Manufacturing Co. allotted some work to a contractor. The contractor employed workers to performed that work. Now, my question is that whether contractor is liable to pay PF on workers. Further, what is the liability of manufacturing CO. , if contractor fails to deposit PF. BY: CA. JAISWAL AJAY KUMAR No answers yet View Answers | Post Answers |
| 14828 |
Feb. 19 2013 |
Vat on Imports –
(INDIRECT TAXES)
Dear All, In case of imports, when goods are imported into Maharashtra Port and then transported directly to Gujarat, can Maharashtra Govt apply vat on such sales which are made from Gujarat just because the head office of the company is in Maharashtra and the import bills shows the address of head office? BY: shraddha No answers yet View Answers | Post Answers |
| 14831 |
Feb. 19 2013 |
Is the vat audit report valid and within the time limit –
(INDIRECT TAXES)
Dear All, In Maharashtra there is due date of filing online vat audit report and i.e.15th Jan of the following year and submitting the same within 10 days from the last date of filing the audit report. If a person has filed vat audit report on 20.01 and it is physically submitted before 24.01 then whether penalty of late filing of audit report is applicable or not BY: shraddha No answers yet View Answers | Post Answers |
| 14808 |
Feb. 14 2013 |
Transcation through National Spot Exchange Ltd –
(Profits & Gains of Business & Profession)
One of my client (Pvt Ltd)doing transcation with National Stop Exchange Ltd(NSEL). In this he made Purchase of Commodity on a date i.e 1522013 and book sale of same of that date i.e 1522013. As on date of Purchase material kept in warehouses of NSEL in his name and delivery of same is given on a future date say after 35 days to seller. He has to pay Warehouse charges, delivery charges,Sales Tax etc to NSEL. Our sale price is now us as on date of purchase but actual delivery is given after a particular date.transcation period normally 35 days we have to pay for purchase on date of purchase and received sales value as on date of sales after adjusting delivery charges, brokerage, waherhouse charges.Now my question is that above purchase and sales are included for section 44AB, and in which head and at what rate it is taxable. BY: REENA SURANA No answers yet View Answers | Post Answers |
| 14804 |
Feb. 13 2013 |
Input credit to be taken on audit fees –
(Service Tax)
Mr A is an consulting engineer service provider. He gets his books of account audited from a chartered accountant. He pays the fees of auditor along with service tax. Whether Mr A can avail the service tax paid on audit fees as cenvat credit when he pays his service tax on consulting engineer? BY: RAJ No answers yet View Answers | Post Answers |
| 14794 |
Feb. 11 2013 |
Filing of return by Legal heir –
(DIRECT TAXES)
After death of a persons his returns are to be filed for 2 years.Who should sign the return and whose bank ac should be mentioned for the purpose of claiming refund.The process of getting succession certificate will take time.The asessee is having his unmarried daughter as the only heir I suppose BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 14776 |
Feb. 08 2013 |
TREATMENT OF SALARY RECEIVED FROM KENIA –
(DIRECT TAXES)
ONE OF MY CLIENT IS WORKING ON SALARY BASIS AT KENIA AND IF HE LIVES IN INDIA BEYOND 180 DAYS , THEN WHAT WILL BE TREATMENT OF SALARY RECEIVED , AS PER DOUBLE TAX AVOIDANCE AGREEMENT OF KENIA. BY: SUNIL KUMAR KHANNA No answers yet View Answers | Post Answers |
| 14772 |
Feb. 07 2013 |
Tds on fees on statuory branch audit of psb –
(TDS/TCS)
we did the above audit for F.Y. 2010 - 2011 in the month of April 2011. we received the fees in june 2011. However in the TDS certificate by the bank the period is mentioned as 2010 - 2011 and accordingly in 26AS it is included in F.Y. 2010 - 11. As we have done the audit and also received the fees in F.Y. 2011 - 2012, we have included the fees income in F.Y. 2011 - 2012. Whereas 26AS and the TDS certificate by the bank shows F.Y. 2010 - 2011. How to claim the above TDS in F.Y. 2011 - 2012 BY: CA. DEVADOSS V C No answers yet View Answers | Post Answers |
| 14767 |
Feb. 06 2013 |
Inclusion of New Services by amending ST-1 filing online –
(Service Tax)
Dear experts, One of my client being an Individual has already registered with S.T. department under the Taxable Services " Commercial Training or Coaching". Now He wants to add 2 more services detailed as under- i) Web Portal Services ii) ForeignOverseas Consultancy Services as to Visa related matter Educational purposes. Now the query how these services are to be added as new services by amending ST-1 filing online respectively under which specified taxable services as mentioned in recent notification No.145 of Department of 120 Services as per latest Service tax rules. Please guide accordingly. Thanks in advance for early reply. BY: SANJAY BAHETI No answers yet View Answers | Post Answers |
| 14734 |
Jan. 26 2013 |
TDS Certificate to be issued for Dec 12 –
(TDS/TCS)
Whether Form no 16 A to be issued is to be downloaded from NSDL site or to be prepared from TDS software BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 14668 |
Jan. 09 2013 |
Wrong jurisdictional AO maped with PAN –
(INDIRECT TAXES)
Assessee not knowing his relevant jurisdiction filed PAN application with respective columns as blank. Now the PAN is linked with irrelevant Jurisdictional area. What to do? The status being Trust or HUF makes any difference in PAN migration? BY: uma maheswari No answers yet View Answers | Post Answers |
| 14672 |
Jan. 09 2013 |
Flat jointly held by assessee and her spouse and 80C principal payment share - and implication in I –
(DIRECT TAXES)
Assessee and his spouse booked a flat in joint name - first holder as per record being his spouse. During construction stage of the flat, when the assessee as per RealEstate Developers terms of the scheme, paid in 60 equal installments of principal amount towards flat.The payments were made approx 3070 ratio by cheque of first holder and of the assessee respectively. There was a delay in handing over by the developer and the flat got in their possession on 8th year, first 5 years gone in paying the principal amount towards the flat.Now three questions arise 1.Can assessee and his spouse justified in claiming deduction of principal amount under 80C for 5 years and 2. claim should be eligible if claimed at 5050 ratio. 3.On 6th and 7th year, as the flat was not complete, assessee did not disclose any details of the flat in his annual return.4.Now on 8th year, as the assessee got the possession of the flat, he wants to show under Income from HP at 5050 ratio for his share of property income, assessee being named second holder as per record of registration of deed of conveyance.Is the assessee justified in claiming only 50 share in Income form HP. BTW, Assessees spouse also files her annual tax returns but has never claimed any 80C deduction as her income was below taxable limit. BY: Gautam Maitra No answers yet View Answers | Post Answers |
| 14627 |
Dec. 26 2012 |
S.Tax on Immovable property –
(Service Tax)
Property is let to a company for use by the company as residence to be used by its directors or top employees. Though it is let to a company, the ultimate purpose is residential only and not commercial. Is service tax liability arise? BY: balasubramanian No answers yet View Answers | Post Answers |
| 14591 |
Dec. 14 2012 |
Service tax on Restaurants –
(Service Tax)
Clause 19 of the mega exemption notification no. 252012 dated 20th June 2012 which exempt the services, serving of food by a restaurant or a mess, reads as under 19. Services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess, other than those having (i) the facility of air-conditioning or central air-heating in any part of the establishment, at any time during the year, and (ii) a licence to serve alcoholic beverages, Facts 1. A restaurant is running in the premises of a hospital which having facilities of air –conditioning in some of the rooms for the treatments of indoor patients. 2. The aforesaid restaurant neither has any Air-conditioning nor a licence to serve alcoholic beverages. 3. The attendants of the patients and other general public including staff of hospital are availing the facilities of above restaurant. 4. The above restaurant is run by a contractor who pays the rent to hospital. 5. The contractor is a separate entity and paying VAT in his name, assessed under the Income-tax Act of income of restaurant in his name, prepare separately balance sheet and profit loss account in his name 6. The hospital is liable for ESIC PF contributions as a principal employer under respective ESIC PF Acts. My Query 1. Whether the above said restaurant to be covered under the definition of “part of the establishment of the hospital” for the purpose of payment of service tax 2. If yes, who is liable for the payment of service tax, whether hospital or contractor? BY: Anil Kumar Patni No answers yet View Answers | Post Answers |
| 14567 |
Dec. 09 2012 |
CST on Warranty –
(VAT/Sales Tax)
A company replaces its item during the warranty period. It raises an invoice for replaced part at NIL value as the warranty period is running. Is the company required to raise CST in this NIL invoice? BY: balasubramanian No answers yet View Answers | Post Answers |
| 14564 |
Dec. 06 2012 |
SERVICE TAX ON RENTING OF PROPERTY –
(Service Tax)
One of our clients has given his property on rent to the State Govt. to be used as Police Station. As policing is not business activity will it be taxable service.Total rent from this property is Rs. 6.00 lac p.a. Rent form other properties is Rs. 5.00 lacs p.a. If rent from Govt. for police station is not covered under taxable service then will rent from other properties being less than Rs. 10.00 lacs p.a. be exempt from service tax. BY: CA SUDHIR KUMAR JAIN No answers yet View Answers | Post Answers |
| 14553 |
Dec. 04 2012 |
VAT Credit on Sales Returns –
(VAT/Sales Tax)
Under Tamilnadu VAT Act, can a manufacturer take credit of VAT portion on sales returns made by his customers? Customers returned the goods within six months of delivery. BY: balasubramanian No answers yet View Answers | Post Answers |
| 14554 |
Dec. 04 2012 |
Resetting of Password –
(DIRECT TAXES)
If an assessee is already registered with IncomeTax department and his return is to be filed by a different professional.How should password be set.As apart from acknowledgement no of last return bank account number is also required to be filled and asessee has closed his previous bank account no fillrd in previous return. whether new account no can be given .Email sent to incometaxdeptt to send activation link has not got any response BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 14523 |
Nov. 26 2012 |
TREATMENT OF COMMERCIAL LAND DEVELOPMENT CHARGES –
(DIRECT TAXES)
it is the case of marriage farm house. it acquired land say in 2002 and town planning department raised charges to the tune of Rs.60 lacs for mainteance of land. My query is that whether it is revenue expenditure or capital expenditure with citation , if available. BY: SUNIL KUMAR KHANNA No answers yet View Answers | Post Answers |
| 14506 |
Nov. 21 2012 |
Gift Tax –
(DIRECT TAXES)
Please explain a Gift Deed Procedure in detail having all Acts constituencies? BY: A.B.Yerri Swamy No answers yet View Answers | Post Answers |
