Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 9505 |
Oct. 21 2008 |
Clubing of income –
(DIRECT TAXES)
H and his wife W had puschsed one plot of nd jotly 50:50 ratio. nd registration papers do not specify their share nd. However, they had decred theeir share Tax urns.W pns to construct a house on plot of nd but has no funds with her. To generate funds for construction W proposes to sell part of her share to H for a conration. Does part sale of Ws share nd to H require registration under the transfer of property act. Alternatively, H provides funds to W for constuction. After construction, house is rented out. How and whose hands come from rent is to be taxed. ' BY: S.K.Singhal No answers yet View Answers | Post Answers |
| 9496 |
Oct. 20 2008 |
Date of Board meeting in form 23AC –
(CORPORATE & OTHER LAWS)
Hi..Friends I jus want to confirm that what should be date of board of directors meetg which bance sheet was approved para 3(b) form 23AC.? As per section 215 of companies act accounts must be approved by the directors before they are forwarded to the auditor for their opion. Pls guide either it should be any date which the accounts are approved by the directors and forwarded to auditors May or June 2008 or the the date of bance sheet. Thanks and Regds CA.N.B. ' BY: N.B. No answers yet View Answers | Post Answers |
| 9497 |
Oct. 20 2008 |
Service Tax on renting of immovable property –
(INDIRECT TAXES)
Hi Dears..!! One of my client has collected service tax on rentg of immivable property from his tenant but not deposited on the basis of stay issued by Bombay high court some other partys case. Pls guide what would be -ve consequencies of that.. CA.N.B. ' BY: N.B. No answers yet View Answers | Post Answers |
| 9490 |
Oct. 16 2008 |
Service Tax Forms –
(Service Tax)
Dear Friends, I have uploaded all the forms of Service tax on C.A. SANDEEP KANOI: SERVICE TAX FORMS EXCEL WORD www.kanoisandeep.blogspot.com Members can download the same from here. Above also clude software for Generation of Service Tax Payment Chaln Excel Format. ' BY: Sandeep Kanoi No answers yet View Answers | Post Answers |
| 9486 |
Oct. 15 2008 |
CENVAT CREDIT –
(Service Tax)
Can an assessee cim cenvat credit respect of services which are commonly used to provide 5 services, out of these 5 output services one service (say no.5 service) the abatement is taken vide notification 1,2006. Would your answer be different if assessee undertakes that :- 1. No cenvat credit has been utilised for the payment of service tax on the service no.5-i.e. full output tax has been paid. 2.No put tax credit of put services has been taken on services which are used for providg service no.5 Que 2 above - would separate records as required under Rule 6 of CCR are required to be ned to submit assessees cim? Pls answer Deatil ' BY: Ravi No answers yet View Answers | Post Answers |
| 9487 |
Oct. 15 2008 |
REGISTRATION U/S 12AA –
(DIRECT TAXES)
Dear Sir, There is an association registered under section 12A of IT Act whether the assoiation has to get registration u,s 12AA of IT Act aga for waiver of FBT. regards ' BY: PRAVEEN JAIN No answers yet View Answers | Post Answers |
| 9479 |
Oct. 09 2008 |
Default u/s 140A - Assessee in default - What are the consequences –
(DIRECT TAXES)
As per the provision of Sec 140A of the come tax Act, the assessee has to pay taxes due before filg urn of the come. case the assessee files the urn of the come with taxes due, the assessee would be deemed to be an assessee default. What are the consequences of the same. Whether the assessee is liable to pay ter u,s 220 ? ' BY: Vijay Gilda No answers yet View Answers | Post Answers |
| 9478 |
Oct. 07 2008 |
UTTARAKHAD VAT –
(INDIRECT TAXES)
let me know that the course of sale with Uttarakhand whether Vat rate can be leived @2%.if yes on what items? pls mail me circuler or notification for further clerification. ' BY: YOGESH DHIMAN No answers yet View Answers | Post Answers |
| 9476 |
Oct. 06 2008 |
Is service tax to be charged by the company running a CFS (Container Freight Station) who is providi –
(Service Tax)
Receivg and delivery of cargo,stuffg and duffg of contaers for onward delivery,transit operations by rail,road to and from gateway ports,consolidation and desegregation of cargo,ground rent, empty contaer storage rent and temporary storage of cargo and contaers. ' BY: Ratneshchand Jain No answers yet View Answers | Post Answers |
| 9472 |
Oct. 05 2008 |
AS2 and s 145A –
(DIRECT TAXES)
How do we reconcile the difference the approaches of the two, clusive , exclusive method. ' BY: ATUL T SURAIYA No answers yet View Answers | Post Answers |
| 9470 |
Oct. 04 2008 |
Is there any necessity file revise return-Income tax (44AB) –
(DIRECT TAXES)
Dear Coleague sirs, Due to bank holidays, we could able to file the come tax urns without payment of taxes. Now our clients have paid the taxes. Is there any necessity to file the revise urn only to ti the department that we have paid the taxes? please guide me this regard.So that we can file the revise urn time. thanks ' BY: Latha Koppal No answers yet View Answers | Post Answers |
| 9467 |
Oct. 03 2008 |
Depreciation on Finance Lease –
(DIRECT TAXES)
An asset was acquired under fance lease. cost of asset was Rs 24 cr and fanced upto Rs 18 cr. The entire project cost was Rs 32 cr. Bance Rs 14 cr was spent by company. Ownership lies with Lessor. Term of lease is 63 months lease rental. However after 20 months company paid bance outstandg amount of Rs 15 crore and ownership was transferred to lessee.Now the lessee want to cim depreciation under IT Act. What should be the cost of acqusition for IT depreciation? ' BY: Anshuman Mishra No answers yet View Answers | Post Answers |
| 9468 |
Oct. 03 2008 |
VAT REVERSAL ON DISCOUNTS –
(VAT/Sales Tax)
Can VAT amount be reversed on discounts given to dealers as per AP VAT ACT2005 ' BY: Vittal No answers yet View Answers | Post Answers |
| 9469 |
Oct. 03 2008 |
Meaning of month or part of month for calulation on Interest –
(DIRECT TAXES)
Under the I.T. Act. ter payable or receivable by,to assessee is calcuted at prescribed rate for a month or part of month. For this purpose part of month is to cored as full month. NOW SUPPOSE I HAVE PAID TAX DEMANDED BY THE DEPARTMENT ON 31-3-2008 AND THE SAME IS REFUNDED BACK TO ME ON 01-09-2008. DEPARTMENT HAS CALCUTED 6 MONTHS WHERES I AM COUNTG 7 MONTHS (I.E. MARCH IS PART OF MONTH=1 FULL MONTH, APRIL TO AUG. AND AGA SEPT.IS PART OF MONTH=1 FULL MONTH) PLEASE CRIFY WITH TERPATION IS CORRECT? ' BY: Prakash Mehta No answers yet View Answers | Post Answers |
| 9454 |
Sep. 25 2008 |
Is VAT is payable on sale of car. –
(VAT/Sales Tax)
Whether on sale of Co. car to its employees, for personal use, at NIL value is VAT payable on this transaction? Under Delhi VAT act. ' BY: Mohit Gupta No answers yet View Answers | Post Answers |
| 9449 |
Sep. 24 2008 |
MATERNAL LINE U/S 56(2)(VI) –
(DIRECT TAXES)
MY DEAR COLLEAGUE PLEASE GUIDE ME WHETHER LEAL ASCENDENT & LEAL DESCENDENT CLUDES RNAL LE U,S 56(2)(VI. ' BY: SUNIL KUMAR KHANNA No answers yet View Answers | Post Answers |
| 9442 |
Sep. 20 2008 |
Deduction U/s 40A(3) –
(DIRECT TAXES)
Sir The party has paid Rs. 21110.00 cash towards the repairs and nace of vehicle. Out of the 21110.00 Rs. 18766.00 debited to profit and account Rs. 2344.00 taken to the Vat Account. Anc cimed that the expenditure not exceeds Rs. 20000.00 cash. Whether the contention of the party is correct takg to conration of the MVAT Act 2002. Please reply as early as possible ' BY: PANKAJ ASHOK SURANA No answers yet View Answers | Post Answers |
| 9440 |
Sep. 19 2008 |
Whether carried forward Business loss U/s 72 can be set off against Short Term Capital gain U/S 50 –
(Capital Gains)
Whether past carried forward busess U,S 72 can be set off agast Short Term Capital Ga U,S 50 on sale of Depreciable asset? If it is allowed whether any case ws are avaible? ' BY: S. A. Paranjape No answers yet View Answers | Post Answers |
| 9437 |
Sep. 17 2008 |
Form No. 27 C –
(DIRECT TAXES)
This is the decration form under section 206C for obtag goods without collectionof tax. My quion is A. Whether this form is to be submitted by er (a) billwise (b) Once life unless there is any change (c) once a year B. Where and when is this form to be submitted. C. Consequences of non submission of this forms Thanks ' BY: Ram Avtar Sharma No answers yet View Answers | Post Answers |
| 9438 |
Sep. 17 2008 |
Service Tax on Digitisation of Data –
(Service Tax)
An dian Company is takg services of a US Company for digitisation of Data ( digitisation means convertg hard copies to soft copies a proper format). a.Is these services are taxable under service tax ?If yes, under which service. b.Is service tax is payble on import of these services. c.Is TDS under come Tax is deductible on these services. If yes, under which cuse of DTAA. ' BY: Sanjeev Sharma No answers yet View Answers | Post Answers |
