Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 10382 |
Jun. 13 2009 |
Withholding tax on reimbursement of expenses & service tax regarding –
(DIRECT TAXES)
Situation: An dian company has entered to an agreement with an US Company to provide technical trag to various corporate houses dia. Persons from US Company visits dia to provide the trag which will not exceed 30 days a year. The dian company shall pay towards trag charges and reimburses all actual travel expenses to US Company. US Company submits two voices to cim their service charges and a separate voice to cim their travel expenses. I have three quions this respect: 1. When dian Company pays their service charges bill, at what rate withholdg tax should be deducted. Can we apply the rate prescribed u,s. 115A(b)(BB) of the IT Act conrg the payment as fees for technical services? Should we further add Surcharge and Cess to the rate prescribed under said section if that rate has to be applied? 2. Should the dian Company withhold the tax u,s. 195 for a reimbursement of actual travel expenses? 3. Does the payment amounts to import of services and should the dian Company pay a service tax on import of services? ' BY: Ramakrishna T. Hegde No answers yet View Answers | Post Answers |
| 10386 |
Jun. 13 2009 |
TDS ON COMPENSATION CHARGES RECEIVED ON RENTED PROPERTY –
(DIRECT TAXES)
Q. If the owner of the Commercial property has entered to leave and Licence Agreement with the Licencee for 5 years and the lock period is 3 years and has given a Deposit equal to 6 months rent to the owner .the licencee used the property only for one year and decided to ter the agreement . As on date the rent outstandg is 4 months and the licencee asked the owner to adjust the same agast the refundable deposit and the bance two months deposit shall be treated as a compensation for early termation of the agreement before the lock period of 3 years. Query: Is whether the TDS is applicable on the compensation amount adjusted as above? ' BY: GOPAL KUMAR AGRAWAL No answers yet View Answers | Post Answers |
| 10391 |
Jun. 13 2009 |
set off on purchases of factory building materaials –
(VAT/Sales Tax)
whether tax paid under the M.V.A.T. 2002 on puchase of rials like cement, steel, etc. purchased for costruction of factory buildg will be eligible for set off? ' BY: CA. JARANI JAYKISHAN MOHANLAL No answers yet View Answers | Post Answers |
| 10364 |
Jun. 12 2009 |
HOW TO CREAT AN NGO –
(MISC.)
I WANT TO THE DIFFERENCES BETWEEN SOCIETY, TRUST OR SECTION 25 COMPANY. DESCRIBE THE MA DIFFERENCE AND ALSO MAKE SUGGIONS THAT HOW CAN I CREAT AN NGO THE ABOVE THREE METHOD AND WHERE THE LEGAL REQUIREMENT ARE MIMUM. ' BY: DEVI PRASAD AGARWAL No answers yet View Answers | Post Answers |
| 10359 |
Jun. 11 2009 |
Whether Misc Income booked by Corporate shall be inaccordence with the incidental and acilary to the –
(CORPORATE & OTHER LAWS)
Durg the audit of clients books of accounts i have come accrosed the case where the Companys own car is beg utilised by one of the sister concern. My client has charged same to the sister concern by risg a debit note and this come is shown under Misclneous come. Can any one advice me this cases how it shall be accounted. If it is accounted under miscelneous come shall it be cidental and ancilery to the ma objective of the company. My client is Engeerg services. The subjected come has arisen out of use of the companys car. If the miscelneous come booked is not accordence with the cidental and anciry to the ma objective are there any legal issued this regard. many cases i used come across this kd of situation client is dog one kd of bisuness and on the other hand he generate different kd of busess like rental come etc. Is it permissible. ' BY: B Murali Krishna No answers yet View Answers | Post Answers |
| 10360 |
Jun. 11 2009 |
BANK GUARANTEE FORMATE –
(VAT/Sales Tax)
what is the for of BANK GUARANTEE U.P VAT for security deposit purpose? ' BY: Rajiv kumar No answers yet View Answers | Post Answers |
| 10331 |
Jun. 08 2009 |
FREE WEBSITE –
(MISC.)
Hello Friends, Is there any website which i can fd t judgements of Supreme court, High court etc. free of cost. CA. Ritesh Gupta ' BY: CA. Ritesh Gupta No answers yet View Answers | Post Answers |
| 10314 |
Jun. 06 2009 |
Input tax credit on Consumable Stores & machinery spares –
(VAT/Sales Tax)
ITC on consumable stores withdrawn from 01.04.08 by an amendment VAT Act.Is it not implied that ITC on Consumable stores & machery spares are avaible prior to this date ? ' BY: SAKTIMOY GUPTA No answers yet View Answers | Post Answers |
| 10242 |
May. 29 2009 |
Online Payment –
(TDS/TCS)
Dear Sir, I am runng a propriery concern, As required by come Tax Rules, all TDS payment must be made through Net Bankg. I have no net bankg facility. Can, I pay the TDS amount through My Friends Net Bank Account. With Regards Bank ' BY: B NAGRAJU No answers yet View Answers | Post Answers |
| 10243 |
May. 29 2009 |
Records to be maintained by Manufacturing Unit under Excise Rules –
(Customs & Excise)
Which Records or registers, a manufacturg unit is required to mata compulsorily under Excise Rules? Should such records be mataed Manually only or they can be mataed Excel Sheets also on computer? What if a company which earlier mataed records manually now wants to shift to Computerized system? Need any permission be taken? ' BY: varun gupta No answers yet View Answers | Post Answers |
| 10244 |
May. 29 2009 |
Fee structure for Professional Services by CA –
(MISC.)
I would like to know the Fee structure recommnded by the stitute for fees to be charged to the clients for various services rendered by CAs. ' BY: Madhav Mahashabde No answers yet View Answers | Post Answers |
| 10251 |
May. 29 2009 |
Special Resolution U/s 372A of Companies Act 1956 –
(CORPORATE & OTHER LAWS)
Whether the fresh special resolution is required u,s 372A if the resolution is already taken u,s 372 of Comapnies Act ' BY: MANISH CHAUDHARY No answers yet View Answers | Post Answers |
| 10241 |
May. 28 2009 |
Annual / Quarterly tds retrurns for f.y. 2008-09 –
(TDS/TCS)
Whether annual , quarterly t.d.s urns for the fancial year 2008-09 were mandatory to be filed where assessee have not deducted any tax durg the year? Accordg to me as Section 206A for the f.y. 2008-09 read as every person who is responsible for deductg tax is require to file prescribed urns and Section 206A for the f.y. 2009-10 read as every person who is alloted a tax deduction account no. is require to file prescribed urns on this basis i thk that nil urns of tds for f.y. 2008-09 were not mandatory but for f.y. 2009-10 it is mandatory. Advise me whether my terpation is right or not. ' BY: yoginder jain No answers yet View Answers | Post Answers |
| 10218 |
May. 22 2009 |
Securities Transaction Tax –
(Capital Gains)
What is Securities Transaction Tax and what is the rate at which it is levied? ' BY: kartheek pabbisetty No answers yet View Answers | Post Answers |
| 10189 |
May. 15 2009 |
FEES PAYABLE FOR APPLICATION UNDER RTI ACT –
(MISC.)
WHAT IS THE AMOUNT OF FEE PAYABLE UNDER THE RIGHT TO FORMATION ACT FOR SEEKG FORMATION UNDER THE SAID ACT. ' BY: RAJENDRA KUMAR SARAF No answers yet View Answers | Post Answers |
| 10190 |
May. 15 2009 |
Accounting Treatment –
(MISC.)
what will be the accountg treatment case of mobile recharge distributor. Facts. For purchase of Rs 1,00,000 he gets Rs.1,04,000 his mobile at a marg of 4%.If he sells Rs. 50,000 recharge at Rs. 51, by passg marg of 3% to ailer. How the accoutg for purchase and sales is to be made. and how closg stock is to be valued. ' BY: chetan No answers yet View Answers | Post Answers |
| 10181 |
May. 14 2009 |
Excise and service tax refund in case of merchant exporter –
(Service Tax)
can a merchant-exporter is eligible to get refund on service tax on shipg freight ,surance services,courier services,transport of goods from nd,tg and analysis etc. ' BY: Kishore bardia No answers yet View Answers | Post Answers |
| 10163 |
May. 02 2009 |
Foreign Directors –
(CORPORATE & OTHER LAWS)
Dear members One of my client wants to open a pvt Ltd company(manufacturg of electrical Panels) dia, there will be three directors - one dian and two PIO(person of dian orig) resig abroad.Now my queries are: 1.What is the limit %age which a foreign director can hold share capital of an dian pvt ltd company. 2.Whether this case FDI provisions are attracted, if yes, then what are those. 3.What are the other formalities which have to be done this case like report to RBI etc. Waitg for an early reply. Thanks ' BY: Mayank No answers yet View Answers | Post Answers |
| 10153 |
Apr. 29 2009 |
Mistke committed in giving TAN of tds deductor in I.T return - Remedy? –
(DIRECT TAXES)
correct TAN of tds deductor was furnished the I.T urn filed by the assessee for Asst. Year 2008-09. The assessee received a letter from the dept [Directorate of come Tax (Systems)] potg out this mistake because of which tds credit is not beg given to the assessee for tds cimed with respect to the said deductor. The assessee has been advised to correct the mistake. How the assessee is to go about correctg this mistake? Is he to file a revised urn? this case, the urn has been filed u,s 139(4), beyond due date u,s 139(1), which disentitles the assessee to file a revised urn u,s 139(5). What is the remedy avaible this case? The FAQ avaible the IT dept website does not also address this issue. ' BY: M.R.Kannan No answers yet View Answers | Post Answers |
| 10154 |
Apr. 29 2009 |
Will TDS be deducted on VAT invoices –
(DIRECT TAXES)
Dear All, will TDS be deducted on VAT voices? ' BY: CA Praveen Gupta No answers yet View Answers | Post Answers |
