Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 11451 |
Dec. 08 2009 |
Advance FBT for FY 09-10 –
(DIRECT TAXES)
One of my client has paid advance FBT for FY 2009-2010 June 2009. As the FBT from FY 09-10 has been removed, My quion is whether any circurnotification has come about refund adjustment of advance FBT paid June 2009? ' BY: CA. THACKER BIMALKUMAR LAXMIDA No answers yet View Answers | Post Answers |
| 11437 |
Dec. 07 2009 |
Service Tax on Telecommunication Service –
(Service Tax)
Mr. X is a distributor of TATA DOCOMO Sim Cards and is registered under Service Tax. How Service Tax will be calcuted this case - on Sale Price of Sim Cards or any other amount? Please crify. ' BY: Vikas Kumar No answers yet View Answers | Post Answers |
| 11425 |
Dec. 02 2009 |
Bank Interest of Apartment Association whether taxable ? –
(DIRECT TAXES)
A Apartment association has FD of Rs 2 crores and receives ter of Rs 20 khs durg the year. It also receives monthly contribution from members. For 08-09 there is surplus of Rs 5 kh. Above surplus is arrived at by deductg all expenses from sum of contribution received and ter received. Query is (i)whether bank ter is subject to tax ? (ii) If yes, ther wheter Rs 20 kh is taxable or whether only surplus of Rs 5 kh is subject to tax ? ' BY: ANIL DSOUZA No answers yet View Answers | Post Answers |
| 11423 |
Nov. 30 2009 |
WHETHER BUSINESS INCOME OR CAPITAL GAINS –
(DIRECT TAXES)
A PARTNERSHIP FIRM PURCHASED A BUILDG ANDFURNITURES ETC.,THEIR OBJECT IS TO RUN THE BUIILDG AS LODGG,[DORMENTRY]. BUILDG AND FURNITURES PURCHASED BY AVAILG BANK LOANS. IT HAS NOT RUN THE BUSESS TO ITS EXPECTATION.IT HAS SUFFERED HEAVY DUE TO BANK TER. NOW THE FIRM WANTS TO DISPOSE OF THE BUILDG AND FURNITURES ETC, OUTRIGHT. COME FROM THIS SALE PROCEEDS WILL IT BE TAXED AS BUSESS COME OR CAPITAL GAS. HOW THE BANK LOANS WILL BE TREATED WHILE ARRIVG THE PROFIT AS BUSESSCAPITAL GA. ' BY: DIGGAVI.B.S. No answers yet View Answers | Post Answers |
| 11380 |
Nov. 19 2009 |
profit on sale of propertycapital gains –
(DIRECT TAXES)
I had booked a property more than 3 years back new construction where I had just received an allotment letter. At that pot I had not registered the transaction. Actual possesion is given by the builder today. But today I donot need the property hence sell it off. The picture today is also that I have not registered the property my name. So what is the tax implication on the ga made this transaction? shall it be Capital gas(Short term or long term?) or shall it be specution profit sce the property never came our possession? ' BY: Dipti N. Gosar No answers yet View Answers | Post Answers |
| 11385 |
Nov. 19 2009 |
Tax liability Us 56(2) –
(Income from Other Sources)
My client had booked a ft (1 sq. feet) February 2008 @ 1200- per sq. feet. Till september 2009, 80 of the cost of the ft has been paid through account payee cheques. The bance will be paid two stallments December 2009 and March 2010 and ft will be registered April 2010. Suppose, the Valuation accordg to come Tax Rules, comes to 2000- per sq. feet. What is the Tax liability of my client Us. 56(2) and for which assessment year. ' BY: CA. GOYAL BIRENDRA KUMAR No answers yet View Answers | Post Answers |
| 11368 |
Nov. 17 2009 |
Additional Depreciation Us 32(1)(iia) –
(DIRECT TAXES)
an assess is engaged the busess of dustrial Civil construction Fabrication work on turnkey basis and purchased certa new macheries such as conce mixture mache, conce pump, batchg pnt exavator.The end product is errection of dustrial shed for cement steel pnt.Whether additional depreciation on such mache can be cimed. ' BY: SATYA NARAYAN MANDOWARA No answers yet View Answers | Post Answers |
| 11332 |
Nov. 09 2009 |
TDS on Air Cargo Agents –
(TDS/TCS)
One of my client is a Authorised Air Cargo Agent of Jet AirLes, Kgfhers, Blue Dart and other Airles As per amendment for the Ay 2010-11 that no TDS is to deducted on Trasporters I want to know that whether Air Cargo Agent is also cover ubder Transporters or not and somtimes they make payments to other Air Cargo Agents also so Whether they should Deduct TDS on the Cargo Agents or not Thanks Praveen Ja ' BY: PRAVEEN KUMAR JAIN No answers yet View Answers | Post Answers |
| 11325 |
Nov. 08 2009 |
What should be the formalities to give gift to a relative. –
(Income from Other Sources)
Dear Colleagues, My quion is what should be the formalities to give gift to a ive. Is it mandatory to prepare the gift deed, and if yes then what should be the value of stamp. A letter issued this regard is not more than enough? ' BY: CA. ASHISH GUPTA No answers yet View Answers | Post Answers |
| 11274 |
Oct. 27 2009 |
basic exemption limit for Gift tax –
(DIRECT TAXES)
Can any one let me know the basic exemption limit for gift tax? Will a transfer of non agricultural nd to Daughter and Son w through of settlement deed attract gift tax? ' BY: Vasantha Kumar No answers yet View Answers | Post Answers |
| 11275 |
Oct. 27 2009 |
BASIC SALARY - –
(Income From Salary)
IS THERE ANY PERCENTAGE CALCUTE -OUT OF GROSS SARY WHAT percentate() SHOULD BE BASIC SARY AND what should HRA be) ' BY: Mohammed Saleem Khan No answers yet View Answers | Post Answers |
| 11276 |
Oct. 27 2009 |
Sec 43 (1 ) Explanation 10 –
(DIRECT TAXES)
A Govt. of dia Society who purchased Fixed Assets from Grant Aid received from Govt. of dia as Promoters Contribution. Depreciation Allowed ? these Societies is Different from Common Society and workg under Mistries Government of dia. please Guide me ' BY: Anurag Upadhyay No answers yet View Answers | Post Answers |
| 11277 |
Oct. 27 2009 |
Service Tax -Input credits –
(Service Tax)
Pl crify the items on which put service tax credit can be taken by a software company with respect to the output services provided by it. ' BY: Kamath sundaresh Krishna No answers yet View Answers | Post Answers |
| 11268 |
Oct. 26 2009 |
How penalty will be levy by the deaprtment in us 29 (8) –
(VAT/Sales Tax)
Dear, please let me know how the mandatory (compulsory) penalty will be levy or not by the deapartment case of payment is made after 21st of the due date of payment and urn has been filed on 31st of the fillg date of the month? ' BY: GOPAL KUMAR AGRAWAL No answers yet View Answers | Post Answers |
| 11269 |
Oct. 26 2009 |
Regarding cess –
(TDS/TCS)
Dear sir, From 1St October 2009 onwards whther cess 2+1 is chargable on professional fees along with TDS 10. What are all under tds cess is not required to be deducted. regards k.sathyanarayanan ' BY: k.sathyanarayanan No answers yet View Answers | Post Answers |
| 11270 |
Oct. 26 2009 |
Service tax on renting of immovable property. –
(Service Tax)
Tenants have stopped the service-tax payment to ndlords on rentg of immovable property service view of Delhi High Courts judgment which is now pendg before the Supreme Court. Is a ndlord of Rajasthan still liable to pay the service-tax even if his tenant has stopped payg the service-tax on rent? Secondly, how he will file his service-tax urn? ' BY: Tanuj Agrawal No answers yet View Answers | Post Answers |
| 11271 |
Oct. 26 2009 |
CAPITAL GAIN EXEMPTION US 54 –
(DIRECT TAXES)
ONE OF OUR ASSESSEE HAS SOLD ONE FT HOWEVER AGAST THE SAME HAS PURCHASED 3 ADJOG FTS WITH A SGLE DOOR AND A SGLE KITCHEN. PLEASE PROVIDE ME WITH THE REFERENCED CASE WS FOR THE SAME FAVOUR OF THE ASSESSEE SO AS TO PROVE THAT THE SAID PURCHASE IS ALLOWABLE AS AN EXEMPTION US 54 AGAST THE SALE OF THE FT. ' BY: MUKESH B TANDON No answers yet View Answers | Post Answers |
| 11272 |
Oct. 26 2009 |
RESTATEMENT OF FINANCIAL STATEMENTS FOR IPO –
(AUDIT)
THIS IS MODIFICATION OF THE EARLIER QUION ASKED TO BE MORE SPECIFIC X PVT LTD IS COMG WITH ITS IPO. ITS MA ACTIVITIES IS RECEIVG SUBSCRIPTIONS FROM ITS MEMBERS TOWARDS SERVICES PROVIDED EG MAGAZE SUBN RECEIPTS.THESE ARE RECD MONTHLY, QTRLY, HALF YLY OR ANNUAL BASIS. MANY CASES THE SUBN PERIOD EXPIRES BEFORE THE END OF F YEAR. HOWEVER SOME CASES THE SUBN PERIOD EXPIRES BEYOND THE FACIAL YEAR. DUE TO VOLUME AND VARIETY OF ENTRIES IT IS DIFFICULT TO PROVIDE FOR SUBN RECD ADVANCE AS AT BANCE SHEET DATE. THUS THE SUBN RECD ARE ACCOUNTED AS COME IRRESPECTIVE ITS PERIOD OF EXPIRY. THE SUBN IS NON REFUNDABLE EVEN IF THE SUBSCRIBER WITHDRAWS BEFORE THE EXPIRY OF PERIOD. HENCE SUBN COME IS ACCOUNTED AS CURRENT COME AS AND WHEN THE FEES ARE RECD. EXPENDITURE IS ACCOUNTED ON ACCRUAL BASIS AS REQD UNDER COMPANIES ACT. NOTE IS GIVEN THE ACCOUNTS UNDER ACCOUNTG POLICY AS REGARDS SUBN COME. VIEW OF THE ABOVE WHILE PRESENTG RATEMENT OF ACCOUNTS FOR IPO SHOULD BE UNEXPIRED SUBN AS AT BANCE SHEET DATE BE SEGREGATED? FACT REMAS THAT THE SUBN RECD IS NOT REFUNDABLE ' BY: MITESH NADKARNI No answers yet View Answers | Post Answers |
| 11273 |
Oct. 26 2009 |
TDS on Transport Contract after 01-10-2009 –
(DIRECT TAXES)
Is there any threshold limit for TDS on TransportFreight charges after 01-10-2009? ' BY: Shashikant A Mirji No answers yet View Answers | Post Answers |
| 11258 |
Oct. 23 2009 |
Foreign income –
(DIRECT TAXES)
A company receives u.s dolrs from its client abroad. When the money is credited dolrs the companys EFC account, the company debits the bank account its books R at the exrate prevailed on the date of credit by the banker. Any difference between the voice amount R and the amount received is treated as profit or on fluctuation. After some time, say 15 days, the company transfers the U.S dolrs from this EFC account to its regur current account. On this date whether exrate fluctuation is to be recognised? ' BY: balasubramanian No answers yet View Answers | Post Answers |
