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 >>5986 unanswered question(s) — Showing 2241–2260
| Que. Id | Date | Description |
|---|---|---|
| 14175 |
Aug. 07 2012 |
INTEREST ON HOUSE PROPERTY –
(Income From House-Property)
Sir, A Lady Purchased a Residential House in her name in the year 2000. She has taken housing Loan on the same. She is using the same as self occupied House Property, availing benefit of Interest on Housing loan and Repayment of Housing Loan since the Loan was taken. Whereas her husband is joint co-obligant of the Housing Loan. Now she wants that they should take 50 - 50 benefit of the Interest and Repayment of Loan. Queries 1. Whether they can do the same? Kindly advise and oblige. BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 14161 |
Aug. 03 2012 |
service tax on compensation for termination of contract –
(Service Tax)
Suppoese I had a rental contract for 3 years. But due to some reasons, the contract was terminated before the completion of 3 years. In such a situation, will service tax be charged on the following Forfeited deposit Compensation charged for early termination of the contract. BY: CA. JOISHER MEERA RAJESH No answers yet View Answers | Post Answers |
| 14153 |
Aug. 02 2012 |
incometax of salaried american citizen –
(DIRECT TAXES)
A AN AMERICAN CITIZEN EMPLOYED IN INDIA DURING THE PREVIOUS YEAR RECEIVES SALARY AND TAX HAS BEEN DEDUCTED ON THE SALARY RECD. 1. IS A LIABLE TO FILE INCOMETAX RETURN IN INDIA OR CAN A FILE THE RETURN IN AMERICA AND TAKE ADVANTAGE OF THE TAX DEDUCTED AT SOURCE ON SALARY INTHE INCOME TAX RETURNS FILED IN AMERICA? STATE CASE LAWS OR FROM WHERE INFO ON THE SAME CAN BE GATHERED BY: KUSHAL HEGDE No answers yet View Answers | Post Answers |
| 14156 |
Aug. 02 2012 |
capital gains –
(DIRECT TAXES)
An assessee had entered into a development agreement in the financial year 2006-2007 for construction of a residential complex,handed over the possession of the land and also executed GPA in favour of the Developer on a sharing ratio of 12.The Developer delivered the possession of the completed flats in the financial year 2009-2010. Kindly let me know the time for chargeability of the capital gains tax for the owner supported by case laws BY: Anwar Iqbal No answers yet View Answers | Post Answers |
| 14158 |
Aug. 02 2012 |
Interest calculation Problem under 234ABC after extension of due date –
(DIRECT TAXES)
Due date has been extended to 31082012.I have prepared ITR-1 downloaded from dept. site on 02082012 and trying to file ITR but interest under section 234A is being calculated by the excel utility under section 234A even if filed before 31.8.2012. Please reply BY: umesh kumar No answers yet View Answers | Post Answers |
| 14142 |
Jul. 27 2012 |
reg. taxation on NRI –
(DIRECT TAXES)
what is the provision of taxability of Interest earned by an NRI on NRO Deposit account,if he opts to pay tax as per special provisions I feel that he has to pay @20 as per provisions of sec 115C to 115I BY: RAJEEV AGRAWAL No answers yet View Answers | Post Answers |
| 14136 |
Jul. 26 2012 |
Reverse charge machanism under service Tax –
(Service Tax)
In case of Carpentry work i.e. making of Aluminium section Table Work station Wooden Rack Door Window etc. weather these work covered under interior work or other category. BY: tarun Kumar nawal No answers yet View Answers | Post Answers |
| 14060 |
Jul. 02 2012 |
date of registration of unique code no.RBI codeno. for empanelment –
(OTHER BODIES)
I want to know date of registration of RBI code No. BY: ASHOK KUMAR CHHABRA No answers yet View Answers | Post Answers |
| 14049 |
Jun. 28 2012 |
Renting of Immoveable Property –
(INDIRECT TAXES)
A client of mine has let out his property to State Govt. which is running a library in the premises. Earlier we were not paying service tax because the property was not let out for "furtherance of business or commerce". From July12, the exemption is available only if the property is let out for residential purpose. I presume the above property will now attract service tax. Please Clarify.. BY: Ethirajan No answers yet View Answers | Post Answers |
| 14050 |
Jun. 28 2012 |
CANCELLATION OF PAN BY INCOME TAX DEPARTMENT –
(DIRECT TAXES)
INCOME TAX DEPARTMENT HAS CANCELLED PAN NUMBER OF OUR CLIENT, ASSESSING OFFICER DIRECTS TO GET IT RE INSTATED FROM NSDL AND NSDL SAYS THAT PAN IS DELATED GO TO INCOME TAX DEPARTMENT, WHAT IS THE CORRECT WAY TO GET THE PAN REINSTATED, BY: santosh shivram singasane No answers yet View Answers | Post Answers |
| 14041 |
Jun. 26 2012 |
TDS on Salary –
(DIRECT TAXES)
In case an employee does not give his PAN to his employer, then on which amount employer has to deduct tax (a) On Gross total Income Less Deductions under chapter VIA - @ 20 Or (b) On Gross Salary @ 20 (Assume Gross Salary is Rs.3.50 Lakhs p.a. and deduction us 80C is Rs.0.50 Lakhs) BY: Ashish Mukund Joshi No answers yet View Answers | Post Answers |
| 14042 |
Jun. 26 2012 |
VAT –
(INDIRECT TAXES)
MY CLIENT IS FILING HIS RETURNS QUARTERLY. HE HAS FILED LAST QUARTERLY RETURN OF 2010MANUALLY IN TIME, IN WHICH HE IS HAVING CF OF EXCESS INPUT. WHILE FILING FIRST QUARTER OF 2011MANUALLY, BY MISTAKE HE HAS NOT TAKEN THE CF OF EXCESS INPUT, AND PAID THE FULL TAX ALONG WITH RETURN. WHEN HE CAME TO KNOW THAT MISTAKE, HE HAS ADJUSTED THAT CF EXCESS INPUT IN THE SECOND QUARTER RETURN OF 2011FILIED ON LINE. BUT DEPT IS DEMANDING THE THAT ADJUSTED CF EXCESS INPUT, AS IT WAS NOT TAKEN IN FIRST QUARTER OF 2011. WHETHER THE LVO IS CORRECT ? PLEASE ADVISE. BY: DIGGAVI.B.S. No answers yet View Answers | Post Answers |
| 14020 |
Jun. 19 2012 |
Service Tax on Parking charges –
(Service Tax)
Dear Colleagues, Hitherto An amount charged for car parking by Builders while selling apartments was not liable for service tax. However with effect from 01.07.2012 the same may be liable for service tax as the said item is not finding a mention either NEgative list or exempted service. Now my question is valuation of taxable services for such amount charged by builders. 1. Whether the amounts charged for Parking should be Considered as works Contract service? 2. If the answer to above is yes whether a) It should beconsidered as Original Works( 40 liable for service tax) or Others ( 60 of the value liable for service tax. Regards Prashanth BY: Prashanth Karanth No answers yet View Answers | Post Answers |
| 14025 |
Jun. 19 2012 |
Interest us 234 A, 234 B –
(DIRECT TAXES)
if an assessee who filled his belated return but he deposit the tax liability in differed manner like total tax liability Rs. 10 lakh, Advance tax - Rs. 5 lakh (up to 31st march of relevant previous year) Self Asseessment Tax - Rs 4 lakh (after due date, say 30 October ) Self Assessment Tax - Rs 1 lakh ( at the time of return filling, say 31 march ) My question is weather the interest is chargeable on full amount i,e 10 lakh - 5 lakh advance tax only, or it will be calculated after the deduction of Rs. 4 lakh. because at the time of Return Processing by CPC, charged interest on full amount ( i,e 10 lakh - 5 lakh only ) for total period but many tax base software given the credit of self assessment tax also and interest charged on balance amount. i think they take the advantage of Pranoy roy case, weather the said case law will apply in my case. BY: CA ANIL KUMAR SAH No answers yet View Answers | Post Answers |
| 14006 |
Jun. 15 2012 |
Attachment of Tax Audit Report under section 44AB of I.T.Act along with ITR –
(AUDIT)
Dear Members, Please confirm whether is it compulsory to attach the scanned copy of Tax Audit Report us 44AB of I.T Act along with filing of Income Tax Return electronically with or without digital Signature from Astt.Year 2012-13 onwards. If yes, please provide the relevant notificationcircular from the Income tax Deptt. BY: SANJAY BAHETI No answers yet View Answers | Post Answers |
| 13953 |
May. 30 2012 |
Assets less than Rs.5000 –
(CORPORATE & OTHER LAWS)
Provision to Note 8 of Sch.XIV to Companies Act states that where the aggregate actual cost of individual items of plant and machinery costing Rs. 5,000 or less constitutes more than 10 per cent of the total actual cost of plant and machinery, rates of depreciation applicable to such items shall be the rates as specified in Item II of the Schedule. What is the actual meaning of this? Does Total actual cost of plant mean entire Plant value or only the value of plant purchased? Notification GSR 101 (E) of 1995 is also not available in MCA website. Where to get this notification? Kindly clarify. BY: balasubramanian No answers yet View Answers | Post Answers |
| 13924 |
May. 20 2012 |
Section 44AD read with sec 44AB –
(DIRECT TAXES)
A Senior citizen assessee has a turnover of Rs.55 lakhs and his total income is Rs.2.2 lakhs for the year ended 31 march 2012 Whether he liable to get his accounts audited as per sec 44AD read with sec.44AB since his total income is below the taxable limit. BY: ANAND B No answers yet View Answers | Post Answers |
| 13903 |
May. 16 2012 |
Transfer of Agricultural land - not been used for Agricultural Purpose –
(DIRECT TAXES)
Dear Friends, A person has purchased a Agricultural land at 1980 and the land fullfills all the conditions prescribed in Section 2(14)(iii) of the Income tax act.At the beginning he had done some agricultural activities but it didnt do well. Since it is not suitable for agriculture he could not be able to cultivate any agricultural goods. After that he did not do any agricultural or non agri cultural activites in aforesaid land. He kept it Idle. Now he is planning to sell the land. My question is 1) Wether Capital gain will arise? 2) Whether to qualify as per Section 2(14)(iii), Compulsorliy agricultural activites should have been done not? 3)If capital gain is arising whether it can be invested in bonds (54EC) or any other deduction is avilable? Awaiting....Please do reply BY: AKILAN PL No answers yet View Answers | Post Answers |
| 13905 |
May. 16 2012 |
maintenance of stock register –
(VAT/Sales Tax)
dear collegue,rule 58( vii)of kvat act reads as below a dealer who is a whole saler-cum-retailer, shall maintain a day-to-day stock register as specified under clause (vi) only in respect of the wholesale transactions which shall show clearly the quantitative details of goods taken from the wholesale section to the retail section each day. In respect of the retail section the dealer shall maintain a closing stock inventory for the year., if i am doing retail business only is it necessary for me to keep stock register under kvat act as the rule speaks only about whole saler cum retailer. BY: s.krishnan kutty.s No answers yet View Answers | Post Answers |
| 13879 |
May. 05 2012 |
Purchase of Timeshare Interest or Timeshare Ownership –
(DIRECT TAXES)
An individual resident assessee carries on profession and his books are subject to audit u.s.44AB of the Income Tax Act,1961.During the financial year he purchased one timeshare interest in a holiday resort in Las Vegas,USA for approx.Rs 15 Lacs for his personal use.As per the contract of purchase the timeshare interest is a timeshare deeded week confirming permanent ownership of a two bedroom type unit whereby the owner is entitled to one week`s stay every year.Besides the purchase cost,annual maintenance charges of approx.Rs 30,000are also payable on yearly basis.Please advice me on - 1)Whether the purchase cost should be shown under Fixed Assets or Investments or debited to his Capital Account in the books. 2)Whether the timeshare interest is an asset under the Wealth Tax Act and chargeable to wealth tax and if yes,then how to determine its value for wealth tax purpose on each valuation date. 3)Whether any deemed income arises under the head Income from House Property and if yes,then how to determine the annual rateable value for income tax purpose. BY: Sudeep B. Sarwate No answers yet View Answers | Post Answers |
