Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 9771 |
Jan. 08 2009 |
TDS on Cost Sharing between Group Companies –
(DIRECT TAXES)
Dear Freds, Company X pays rent to nd Lord and deducts appropirate amount of TDS u,s 194 I. the same premises Group company Y has also got its office. Company X and Y shares rent expenses amongst themselves based on the number of employees.On this basis Company X recovers rent expense from Company Y. Now should Company Y deduct TDS while makg payment to group company X.Is there any case w to support views on deduction, non-deduction of TDS? ' BY: Bhuvnesh No answers yet View Answers | Post Answers |
| 9772 |
Jan. 08 2009 |
Stamp duty –
(MISC.)
My query is regardg the rate of stamp duty applicable on non-delivery,delivery based tradg of shares and whether the same is different for different states. Please also provide me the source from where I can get the details of stamp duty rates for different states. ' BY: Manish No answers yet View Answers | Post Answers |
| 9773 |
Jan. 08 2009 |
Catering contractor filing return of income –
(Profits & Gains of Business & Profession)
My friend is a caterg contractor and he wishes to pay tax on gross receipt basis. It is practically impossible for him to mata books of accounts properly. Is there any provision like 44AD, 44AE and 44AF where he can disclose total receipts and decre a % there on as come and pay tax. ' BY: Rajesh No answers yet View Answers | Post Answers |
| 9764 |
Jan. 07 2009 |
Applicability of Audit U/s 44AB to Educational Institutions. –
(DIRECT TAXES)
An educational stitution regd. under Bombay Public Trust Act. Whether provisions of Sec44AB are applicable if gross receipts exceed Rs 40cs. Sce its not commercial concern, surplus earned to be shown under which head of come come from Busess or come from Other Sources? Whether answer to previous quion will change if the said trust has not obtaed 12A Registration? ' BY: MAHAVIR OSTWAL No answers yet View Answers | Post Answers |
| 9765 |
Jan. 07 2009 |
Tx Audit –
(DIRECT TAXES)
Sales & Services 36,00,000,- + Vat 2,00,000,- + Service Tax 2,50,000,- Total Gross Sales = Rs. 40,50,000 Whether Tax Audit Liable 1)if assessee is creditg & debitg VAT & Ser Tax under Duties & Taxes Current Liabilities - 2)What if he is showg gross T,O Tradg account cludg SAles + VAT + Service Tax ' BY: MANISH PAREKH No answers yet View Answers | Post Answers |
| 9755 |
Jan. 05 2009 |
applicability of service tax to out of pocket exps. –
(Service Tax)
Where service tax is applicable to out of pocket expenses reimbursed to a Chartered Accountant by his,her client? Whether it is applicable if the bills are the name of the client or if the bills are the name of a Chartered ccountant? ' BY: Ritu Waichal No answers yet View Answers | Post Answers |
| 9753 |
Jan. 04 2009 |
Filing of revised Annual Return and Accounts with ROC –
(CORPORATE & OTHER LAWS)
ABC Pvt Ltd duly filed its AR and Accounts per Companies Act for the F.Y. 07-08. Subsequently it was noticed that some major entries with riality have been leftout the accounts. such a case what is the procedure to file the revised accounts with ROC? ' BY: Mallikarjunaiah. B No answers yet View Answers | Post Answers |
| 9749 |
Jan. 03 2009 |
80 IC –
(DIRECT TAXES)
Is vment pnt and machery is decidg factor for givg deduction u,s 80 IC. Is details of pnt and machery given to DIC is relevant any way, case there is difference between the details of machery shown to DIC and what is shown books of accounts? ' BY: Amresh Shukla No answers yet View Answers | Post Answers |
| 9743 |
Jan. 01 2009 |
Change in jurisdiction –
(DIRECT TAXES)
I filed e-urn of come tax for assessement year 2008-09 on 30th september 2008 and submit acknowledgement to come tax office of my current address but teron I fd that the system is showg jurisdiction of old address as recorded PAN. Now I want to change the jurisdiction for A,y 2008-09 to my current address. I applied for change address form 49A but still system is not updated for such change. what should I do change jurisdiction? ' BY: Satyendra Singh Kandari No answers yet View Answers | Post Answers |
| 9744 |
Jan. 01 2009 |
Guidelines as standard –
(COUNCIL DECISION)
Cheques prepared by the Housg Fance Company on 31st March, not handed over to the parties. QUION Whether the same will rema cluded the Loan Account ' BY: Tapas Basu No answers yet View Answers | Post Answers |
| 9745 |
Jan. 01 2009 |
treatment of Profit/Loss on reinstatement of Receivables as per the currency exchange rate as on the –
(Profits & Gains of Business & Profession)
A company is havg trade receivables foreign currency.At the end of the fancial year Exchange rate of foreign currency changes, resultg notional profit. Whether it is taxable under below two conditions: - The co. decides to book profit and rate the receivables as per the FE rate as on the year end. - The co. does not book profit and decides to keep the receivables as per the itial currency rate irrespective of the FE rate as on the year end. Means can co escape the tax liability on the Notional profit by not ratg the receivables as per the currency rates as on the year end. CA. Arun K. Aggarwal Delhi ' BY: Arun K. Aggarwal No answers yet View Answers | Post Answers |
| 9734 |
Dec. 30 2008 |
APPLICABILITY OF EXCISE DUTY ON LEFT OUT SCRAP –
(INDIRECT TAXES)
OUTSOURCG CONTRACT FOR FME CUTTG OF IRON PTES THE AMOUNT PAYABLE IS FIXED @ RS. 5,- PER MTR PER MM THICKNESS OF THE PTE FME CUTTG OPERATION CARRIED OUT. ONE OF THE CONDITION THE CONTRACT IS THAT THE VENDOR FIRM HAS TO URN THE SCRAP GENERATED TO THE OWNER. TER STAGE IT IS CONRED THAT OPERATION OF SCRAP RECORDS AND ITS NANCE IS DIFFICULT AND DECIDED TO DEDUCT THE VALUE OF SCRAP FROM THE AMOUNT PAYABLE TO THE VENDOR FIRM AND REVISE THE CONTRACT RATE ACCORDGLY. IS IT TANTAMOUNTS TO SALE OF SCRAP TO THE VENDOR FIRM AND ATTRACTS EXCISE DUTY? THE SCRAP IS NOT GENERATG BY THE OWNER BUT GENERATED DURG THE PROCESS BY VENDOR FIRM AND THE OWNER IS HAVG RIGHT ON THE SCRAP DEPENDG ON THE CONTRACT STRUCTURE. MAY PLEASE BE ADVISED ' BY: P V SIVA KUMAR No answers yet View Answers | Post Answers |
| 9735 |
Dec. 30 2008 |
Restriction on claiming exemption 54F –
(DIRECT TAXES)
Mr. A sold the long term asset other than a rential property.At the time of sellg the said long term asset he is owng a rential house. He has ved the entire sale proceeds of said long term asset on new rential house with a year and given on rent and cimed the exemption under section 54F and also decred the rental come the revant assessemtn year. Whereas the Assessg Officer disallowed the exemption u,s 54F cimed by Mr.A, statg that the assessee cannot letout the new house property while cimg the exempiton u,s 54F. Is it justified? ' BY: Mallikarjunaiah No answers yet View Answers | Post Answers |
| 9737 |
Dec. 30 2008 |
Penalty for nonsubmission of CST return FORM 1 under wbst act –
(VAT/Sales Tax)
If any penalty or tepayment fees leviable for dey submission of quarterly urn of CST?for dey case of vat urn assessee has paid penalty of Rs. 2000,-. Department has also askg 2000,-for cst? pl. crify ' BY: M.MALLIK No answers yet View Answers | Post Answers |
| 9728 |
Dec. 29 2008 |
Reimbursement of Expenses (Salary etc) –
(Service Tax)
Dear Sirs, I am employed a MNC, where saries of Marketg & Fance people are shared by group companies. this context I have a query that if expenses are reimbursed by the goup companies (for Sary , Travell , Hotel etc.) then what is the treatment of Service Tax on the same. The Debit Notes are raised from Both the companies because services of employees are shared by another. (This is for ckarity). We have not registered for Service Tax. Shall we obta registration number if we have to charge the same. Rgds, Nachiket ' BY: Vasantgadkar Nachiket M. No answers yet View Answers | Post Answers |
| 9731 |
Dec. 29 2008 |
Section 14A –
(DIRECT TAXES)
Notification no.45,2008 issued by CBDT on 24.03.2008 was to be made effective from the date when published offical Gazette. When was it published the Gazette. From which Assessment Year this will be effective. ' BY: Ramakant Sureka No answers yet View Answers | Post Answers |
| 9726 |
Dec. 29 2008 |
Unstructured CPE learning for CA's over 60 years. –
(COUNCIL DECISION)
After the decision of the Council on 18-20 December, 2008,is it still compulsory for CAs over 60 years to do the unstructured CPE learng for 2008 or future ? ' BY: Rustom Davar No answers yet View Answers | Post Answers |
| 9727 |
Dec. 29 2008 |
DEDUCTION U/S 80GG RENT PAID –
(DIRECT TAXES)
IF AN EMPLOYEE WORKED WITH TWO DIFFERENT EMPLOYERS THE FANCIAL YEAR, HE RECEIVED HRA FROM ONE EMPLOYER ONLY. IS HE QUALIFY TO TAKE DEDUCTION U,S 80GG FOR THE PERIOD WHICH HE DID NOT RECEIVED HOUSG RENT ALLOWANCE. IF YES THEN HOW IT WILL BE CALCUTED. ' BY: RAKESH KUMAR No answers yet View Answers | Post Answers |
| 9716 |
Dec. 27 2008 |
membership –
(CORPORATE & OTHER LAWS)
1 does dividual purchasg shares through demat account shall become members of company 3 what the means to get track record of promoter,track record of of company. ' BY: VISHWANATH No answers yet View Answers | Post Answers |
| 9721 |
Dec. 27 2008 |
Recovery of Non Performing Assets of Banks –
(AUDIT)
Dear Sir, I want an advise,crification from you respect of the followg. Durg my concurrent audit of a bank this month, I d that certa amount is recovered respect of an NPA(decree obtaed). The amount so recvered is adjusted agast loan amount. It is not adjustred agast ter account. My opion is that it should be adjusted to ter received account. Otherwise, it is a revenue leakage. Please advise me whether my opion is correct or not? ' BY: Srinivas No answers yet View Answers | Post Answers |
