Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5986 unanswered question(s) — Showing 2481–2500
| Que. Id | Date | Description |
|---|---|---|
| 11031 |
Aug. 30 2009 |
Definition of profit and gain us 80-IC –
(DIRECT TAXES)
Deduction us 80IC shall be out of profit and gas. Whether the profit and gas shall be calcuted after deduction of depreciation us 32 or deduction us 80-IC shall be dependent to the deduction us 32. The assessee has not charged depreciation the books of accounts and has cimed the same the computation of taxable come. ' BY: SUNIL KUMAR KHANNA No answers yet View Answers | Post Answers |
| 11029 |
Aug. 29 2009 |
VAT NO.IF ALREADY HAVE NO. –
(VAT/Sales Tax)
SIR, my client dog properity busess (x shop) goregoan and havg vat no. goregoan. he want to open new properity busess (y shop) different name nalsopara. vat deppartment said that you canot take vat no nalsopara because properitor havg vat goregoan. if you want to take vat no. nalsopara, you have to cancel vat no goregoan kdly guide me ' BY: CA. PARMAR ANIL KUMAR No answers yet View Answers | Post Answers |
| 11019 |
Aug. 28 2009 |
WHO WIILL BE KARTA –
(DIRECT TAXES)
MY CLIENT, KARTA OF A HUF DIED. HIS FAMILY NOW FOLLOWG PERSONS ARE ALIVE - HIS WIFE, FOUR MAJOR MARRIED SONS, TWO MAJOR MARRIED DAUGHTER. PL LET ME KNOW , WHO WILL BE KARTA OF THE HUF PCE OF THE DIED KARTA, i.e. HEAD OF THE FAMILY. ' BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 11009 |
Aug. 27 2009 |
TRANSFER PRICING –
(DIRECT TAXES)
X limited is a foreign multational company, it has an dian subsidiary Y limited. The group has got a supply worth Rs. 4 crores from an dian company, Z ltd. Z limited has pced two separate purchase s with the two companies, as it will import Rs. 1.2 crores worth goods from X limited directly and bance 2.8 crores worth goods shall be supplied by Y limited. As per the terms of the PO, the vendor has to provide a bank guarantee equal to 10 of the PO Value, advance. X limited has given the said BG @ 10 on FULL PURCHASE . other words, the holdg company has given the BG of 40 ks (10 of 4 crores) i.e. BG on full PO value, cludg the PO portion of Y limited. Query: Whether this transaction (i.e. issug BG on behalf of subsidiary) is conred as ternational transaction as per the TRANSFER PRICG provisions ' BY: MAHESHWAR M MARATHE No answers yet View Answers | Post Answers |
| 11011 |
Aug. 27 2009 |
DEPRECIATION –
(Profits & Gains of Business & Profession)
Dear Colleagues, A vehicle was purchased on 23.03.09 (voice date)for busess,but registered with RTO authority the month of June 2009.Whether assessee is eligible for the depreciation for 2009-10 Asst. year.The assessee has availed bank loan on 120309 itself. ' BY: P.V.VARADARAJU No answers yet View Answers | Post Answers |
| 10996 |
Aug. 25 2009 |
Wealth Tax on let out Residential Properties –
(DIRECT TAXES)
Under Wealth Tax Asset specifically excludes any rential property let out for a mimum of 300 days the previous year. My client has about 4 properties let out for rent for the whole of the year and the market value of all the four properties exceed Rs. 75 khs. Is he ible for wealth tax? ' BY: RAVICHANDRAN R No answers yet View Answers | Post Answers |
| 10999 |
Aug. 25 2009 |
Sale of shares in India by a non resident Indian –
(MISC.)
An dian Citizen is the UK for the st 10 years. He was sent to UK by an dian company as an employee. Durg his employment with this dian company, he some shares of the company got ved under ESOP 2003. 2005, he left the dian company and joed a UK company. Now he wants to sell the shares of the dian company. Does he have to make any kd of decration to RBIdian Govt this regard? What would be the process to do so? ' BY: SUSANTA SENAPATY No answers yet View Answers | Post Answers |
| 11004 |
Aug. 25 2009 |
Accounting for Used Car Sale Business –
(MISC.)
Hi 1. Could you please exp the accountg for used car sale busess. 2. If the manufacturer of the car havg ail outlet started this Used car busess how do we treat the used cars for valuation purpose. 3.Can we treat the used car as seperate segment and newly produced cars as a seperate segment for ventory purpose? ' BY: CA. RAVISHANKAR T No answers yet View Answers | Post Answers |
| 10994 |
Aug. 24 2009 |
CAPITAL GAIN TAX OR BUSINESS INCOME ON SALE OF ENTIRE PLANT ALONGWITH STOCK SPARE PARTS –
(Capital Gains)
MY CLIENT HAS CLOSED HIS BUSESS ACTIVITY FROM JANUARY 2009 , NOW HE WANT TO SALE HIS ENITRE PNT MACHERY AS IS WHERE IS CONDTION. HE HAS SOME SPARE PARTS WHICH ARE USED FOR REPAIR NANCE NORMAL COURSE OF PRODUCTION PNT MACHERY . IS THERE ANY SHORT TERM CAPITAL GA ON SALE OF PNT MACHERY AND SALE OF SAPRE PARTS WILL BE TAXED UNDER THE HEAD PROFIT GAS OF BUSESS PROFESSION OR CAPITAL GA (STCG OR LTCG). KDLY ADVISE ME . ( CA XMI PRASAD SAHU KORBA (CG)) ' BY: LAXMI PRASAD SAHU No answers yet View Answers | Post Answers |
| 10985 |
Aug. 23 2009 |
remuneration to partnercalculation of bookprofit –
(DIRECT TAXES)
Kdly crify whether professional charges paid to a partner of a firm his professional capacity by the firm will be treated at par with remuneration prescribed under section 40(b).For eg professional charges paid by a medical firm to its partner who is a doctor who performs professional consultg to the patients and is also a partner of the firm.Will the professional charges paid to him be required to be added back while computg book profits for calcutg remuneration. ' BY: HARISH.C.R No answers yet View Answers | Post Answers |
| 10967 |
Aug. 20 2009 |
Mistake apparent from record in Penalty Us 272 A(2)(k) Whether to File 154 or go for Appeal –
(DIRECT TAXES)
Dear Sir, Our Client received a Notice of Demand under Section 156 of come tax Act 1961 and Us 272 A(2)(k) which there is a mistake apprant from record pls crify whether we can file a petetion Us 154 are we have to file an appeal. If petetion Us 154 is filed still we have to file an appeal ' BY: CA. KAMESHWAR PARSHAD No answers yet View Answers | Post Answers |
| 10948 |
Aug. 19 2009 |
Deduction of HRA and housing loan interest –
(DIRECT TAXES)
One of my client is a saried person and livg a rented house.He is recievg HRA and also he is havg rential house the same city.The house is beg let out at a rent of 6000 Rs. per month to some other person. Please advice whether he can cim both HRA deduction and ter and prcipal deduction on housg loan. ' BY: SOMESH KUMAR AGARWAL No answers yet View Answers | Post Answers |
| 10954 |
Aug. 19 2009 |
Income from House Property –
(DIRECT TAXES)
The assessee has constructed a House Property usg borrowed capital. The property is for lettg out purpose. The pre-construction ter is cimed five equal stallments from the previous year which the construction gets completed. The issue is what if the assessee sells the House Property the second year only. Will the assessee is entitled for the bance 45th ter on pre-construction? Or whether the ter is capitalised the cost of the house property? ' BY: CA. SHISHIR T S No answers yet View Answers | Post Answers |
| 10947 |
Aug. 18 2009 |
Resident but Not Ordinararily Resident –
(DIRECT TAXES)
Mr. X was abroad for more than 10 years. He came to dia on January 2009. As per basic conditions Mr. X satisfied one of the basic condition and he is "Rent but Not Ordarily Rent". How much time it will take to become " Rent and Ordarily Rent" from the status of "Rent but Not Ordarily Rent". Kdly reply. ' BY: CA. SUDHAKAR REDDY GADDAM No answers yet View Answers | Post Answers |
| 10942 |
Aug. 17 2009 |
Agriculture income –
(DIRECT TAXES)
1. my client is runng a diary farm.It is a partnership firm.The firm extracts raw cow milk and send it for sale sealed packs under brand name. Is it constitute agriculture come and exempt under come tax act. 2. My client is a section 25 company ablished for the welfare of Ex-servicemen. iT IS A GOVT.COMPANY.wHETHER as 12 AND aS 20 APPLICABLE . ' BY: S. suresh Babu No answers yet View Answers | Post Answers |
| 10938 |
Aug. 16 2009 |
ONLINE PAYMENT –
(DIRECT TAXES)
SIRMADAM I HAVE PAID DIRECT TAX OF MY CLIENT THROUGH MY SBI ON LE PAYMENT. BUT I DID NOT FD THE RECEIPTS WHERE AS THERE IS A DEDUCTION OF THAT AMOUNT FROM MY ACCOUNT. I HAVE MADE A COMP TO SBI BUT THERE IS NO RESPOND RFOM THEM. PLEASE HELP ME WHAT SHOULD I DO? THANKG YOU SAMPAD MOHANTY ' BY: CA. MOHANTY SAMPAD No answers yet View Answers | Post Answers |
| 10924 |
Aug. 14 2009 |
VAT CREDIT ON CAPITAL GOODS –
(INDIRECT TAXES)
Whether set off on purchases of capital goods i.e. Pnt Machery, Furniture Fixtures , Computer , purchased 2004-05 and shown work progress 2004-05 and actual commercial production was started 2005-06, the set off will be avaible F.Y. 2004-05 or not ' BY: GOPAL KUMAR AGRAWAL No answers yet View Answers | Post Answers |
| 10928 |
Aug. 14 2009 |
whether penal interest can be more than the basic interest –
(CORPORATE & OTHER LAWS)
one of the client has taken loan from bank. Its a SME sick unit. The rate of ter is @ 6. Now the bank is gog to charge penal ter @13. Whether it can do so. ' BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 10930 |
Aug. 14 2009 |
capital gain –
(DIRECT TAXES)
Rs 20 khs is the capital ga to an assessee from sale of rential house. he utilised 12 khs for purchase of new rential house bance 8 kh for renovation purpose like compound wall, fillg nd etc.Is this 8 kh is formg part of cost of asset? ' BY: BIJU P D No answers yet View Answers | Post Answers |
| 10921 |
Aug. 13 2009 |
FBT –
(FBT)
Sir, my assessee is partnership firm, It is not cimed Depreciation on vehicle. Whether FBT will be payable on deemed deprecition? ' BY: CA. KHATAVKAR GANESH GOVIND No answers yet View Answers | Post Answers |
