Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 12366 |
Jan. 01 2011 |
Dection to HUF –
(DIRECT TAXES)
Dear Memebers, wishing you a very happy new year. Plesae let me know what are deuction Us 80C those are available to an HUF.. BY: CA. Pawan Kumar Jain No answers yet View Answers | Post Answers |
| 12312 |
Dec. 16 2010 |
Practice Query –
(MISC.)
Can a partner in firm also practice in his individual name without creating his own proprietary firm? BY: CA. Deepak Kumar No answers yet View Answers | Post Answers |
| 12293 |
Dec. 11 2010 |
RENT –
(DIRECT TAXES)
Rsir, One of my client has received rent in financial year 2009-10 only for one month in place of 12 montsh and the tenant (warehouse)has issued form 16 for the periof April 2009 toMarch 2010 showing rent paid only for one month and tds dedcuted accordingly for one month. Now in nov. 2010 he has received the rent for 11 months of fy 2009-10 and 9 months of fy 2010-11 and tenant has issued form no 16 showing rent paid for 20 months and decuted tds accordingly for 20 months. Now I have to file the return of my client for FY 2009-10. What amount I should shown as rental income for FY 2009-10. Either it be for 1 month or for whole 12 months.AND for next year return for fy 2010-11 how can I adjust the rental income and TDS. And one more is rent received in 2010-11 for 2009-10 is arrear of rent or unrealised rent? THANKS. BY: CA. NAVNEET K. GARG No answers yet View Answers | Post Answers |
| 12287 |
Dec. 10 2010 |
Section 194C - Rate of TDS on Sub-Contracting if theres is no clause on Main Contract to Sub-LetSub –
(TDS/TCS)
If on Main Contractors Agreement there is no Sub-Contracting Sub-Letting clause, and main contractor sub-lets work on full back to back basis to some other contractor or in small parts to various petty contractors then at what rate TDS us 194C be deducted whether @ 1 as it is sub-contracting or at full 2 since main contract does not have any clause regarding sub-contracting. Thanks in advance to the respondents. BY: CA. BAIDMUTHA RAHUL NARESH No answers yet View Answers | Post Answers |
| 12245 |
Nov. 23 2010 |
Double Taxation Avoidance agreement-UAE –
(DIRECT TAXES)
A is employed in India upto Nov during this year. He will resign and join a company for a salary in UAE(DTAA effective from Asst.year 1995-96) wef Dec. My question is this . His salary income was subject to TDS.by the employer.Is he expected to be taxed under Indian IT . for the salary income earned in UAE till March 2011 (Asst year2011-2012).What would be the position from the subsequent asst years assuming his interest income will be below the minimum amount liable for tax in India? BY: S.Balasubramanian. No answers yet View Answers | Post Answers |
| 12238 |
Nov. 21 2010 |
Disallowance us 40A(3) –
(DIRECT TAXES)
Payment made to Railways by cash in excess of Rs.20000- in an auction for purchase of materials. Whether Disallowance is attracted. What is meant by legal tender in Rule 6DD(b) BY: RAVI LAXMANASA MISKIN No answers yet View Answers | Post Answers |
| 12235 |
Nov. 19 2010 |
Dedudtibility of TDS on Interest paid to NBFC for Asset Finance –
(TDS/TCS)
Please inform whether Tax is required to be deducted us 194A on Hire Finance Charges paid on vehicles purchased or other Credit Facilities taken form Financers like Tata Capital Ltd., Ashok Leyland Finance Ltd. , Shriram Transport Finance, etc. When some one purchase vehicle,s etc. from them on E.M.I basis, they take full signed P.D.C(Post dated Cheques)equivellent to the no. of installments to be repaid. Therse NBFCs finance Assets on Hire Purchase System. Kindly inform what are TDS applicabilities us 194A us 194C on these transactions. Please reply quoting necessary I.T Department CircularNotification or case law etc. BY: pankaj khandelia No answers yet View Answers | Post Answers |
| 12227 |
Nov. 17 2010 |
Internal Auditor and attestation work –
(MISC.)
Can a practising CA appointed as internal auditor of a company do the attestation work for the same company. Attestation here means other than statutory audit and normally includes certification only. Please reply as per professional ethics applicable as on date with relevant clause. Thank you. BY: Deepak Kumar No answers yet View Answers | Post Answers |
| 12222 |
Nov. 15 2010 |
HUF CONTINUATION ON DEATH OF KARTHA –
(DIRECT TAXES)
If a male member of HUF who is the Kartha of HUF dies then who will be the kartha of HUF his elder son or his wife. Whether any information about the same needs to be given to IT Department. Any other info relating to this please me the same BY: sunesh agarwal No answers yet View Answers | Post Answers |
| 12218 |
Nov. 13 2010 |
Construction Industry –
(Service Tax)
In budget 2010, when ST is brouhgt in for payments recd by developers from prospective buyers, there were some exemptions also provided. while reading notes about the discussion in some news papers or internet forums, it was also mentioned that there is exeption from paying of tax in respect of low cost housing (i.e. with property value of less than 20 lacs). However I am unable to find any such notification circular on the department site. Can someone help to clarify on this matter. BY: CA. JOISHER MEERA RAJESH No answers yet View Answers | Post Answers |
| 12213 |
Nov. 11 2010 |
Air Conditioners Capitalisation –
(CORPORATE & OTHER LAWS)
We are a factory setup. We have airconditioners both in the machine areas as well as in offices. Under what category both of these needs to be capitalised ? BY: CA. DUGAR AMAN No answers yet View Answers | Post Answers |
| 12201 |
Nov. 09 2010 |
Invoking of Section 148 by A.O. –
(DIRECT TAXES)
A.O invokes sec 148 on the basis of AIR which shows deposit of over 10 lakhs in assessee bank account with a view that the source for the same is not disclosed while furnishing return (Form 2D).Assessee has filed return on time further there is no column in Form 2D where such disclosure of source can be made.Is A.O. justify in invoking Sec 148 demanding information us 142(1). BY: pawan arora No answers yet View Answers | Post Answers |
| 12196 |
Nov. 05 2010 |
Request for copy of case law –
(DIRECT TAXES)
Pl provide case law of Mrs kavitachug vs ito(2010)45dtr(kol)146 BY: Srinivasarao devathi No answers yet View Answers | Post Answers |
| 12179 |
Oct. 28 2010 |
TDS us 194 A on Interest –
(TDS/TCS)
One of my client (whose books are required to be audited us 44AB) has to pay interest to LIC Finance Company Limited. Whether my client is liable for TDS out of interest payment to LIC Finance Company Ltd? BY: akhilesh narayna No answers yet View Answers | Post Answers |
| 12159 |
Oct. 20 2010 |
GTA input credit –
(Service Tax)
Freight bill Rs.1 Lac.Company avails abatement 75 percent and pays service tax on rs. 25000. can the company avail input credit of the same against its output excise liability? In other words, is input credit available if abatement is availed? BY: balasubramanian No answers yet View Answers | Post Answers |
| 12146 |
Oct. 15 2010 |
cheap uggs –
(AUDIT)
One of my clients wnats to sell his residentail house and purchase a new flat from the builder. But the payment to the builder shall be made in instalmetns over next 2-3 years.My query is whether exemption Us 54 will be available even if the payment is made beyond 2 years as provided in SEc. 54. Whether unpaid capital gain within one year shall have to be deposited in Capital Gain Account in bank. BY: cheapugg No answers yet View Answers | Post Answers |
| 12132 |
Oct. 07 2010 |
t.loan- business ots –
(DIRECT TAXES)
our client availed a loan for apriod of 6 years for business purpose. After two, years, term loan becamedefault qand under 0ts of the bank original loan term loan of Rs.3.00Cr settled for 215Cr. Whether surplus amount of 65.oolakhs is capital reciept or revenue reciept under income tax? BY: CA. PRAKASH BASRI K No answers yet View Answers | Post Answers |
| 12133 |
Oct. 07 2010 |
Technical Services under section 9(1)(VII) –
(DIRECT TAXES)
Hi Collegues, Kindly provide the meaning of Technical services under section 9(1)(VII) in a broader sence? what consitutes technical services with example)? Kindly confirm is this technical service can be correlated with section 10A? (“the expenses incurred in foreign exchange in providing the technical service out side India should be excluded from the export turnover”). BY: T.R.GANESH No answers yet View Answers | Post Answers |
| 12128 |
Oct. 06 2010 |
Appointment of Auditor –
(CORPORATE & OTHER LAWS)
Sir, I want to know that who will appoint the First Auditor of the Company when Board of Directors Also the share holders of the company fails to appoint the First Auditor of Company in their General Meeting. I am asking this question because Central Govt. has power to appoint the Auditor in case where Company fails to appoint the Auditor in Annual General Meeting, in the above case company fails to appoint the first auditor in their General Meeting not in the Annual General Meeting. BY: Huzefa Hamid No answers yet View Answers | Post Answers |
| 12129 |
Oct. 06 2010 |
Regarding Infra Bonds us 80CCF –
(DIRECT TAXES)
In whose name one can apply for the Infra Bonds uS 80CCF? BY: Hardeep Saini No answers yet View Answers | Post Answers |
