Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5986 unanswered question(s) — Showing 3161–3180
| Que. Id | Date | Description |
|---|---|---|
| 8799 |
Apr. 21 2008 |
Taxability of Advance rent recieved –
(DIRECT TAXES)
If rent is recieved advance which is taken as rent of the year whch the tenant vacates the house then how the rental reciept is taxable. ' BY: Chandra Prakash Agrawal No answers yet View Answers | Post Answers |
| 8800 |
Apr. 21 2008 |
Clarification regarding Section 50C –
(Capital Gains)
One of our client has entered to a sale agreement (without givg possession)to sell a site for Rs.10 cs and received advance of Rs.2 cs with a condition that the bance has to be paid at the time of registration and the registration has to be done on or before 2 months from the date of sale agreement. Rs.10 cs is also the value fixed by the stamp valuation authority on the date of sale agreement. But the valuation authority has creased the rate to Rs.20 cs by the time of registration and the stamp duty is paid by the er on rs.20 cs. The seller has received the bance Rs.8 cs at the time of registration.The seller has paid the long term capital ga takg the conration as Rs.10 cs. The case is selected for scruty. Now the ITO has raised a tax demand takg the sale conration as Rs.20 cs as per Section 50C? Is there any way out for the client to argue that the sale conartion has to be taken as Rs.10 cs stead of Rs.20 cs? Any case ws? ' BY: uma mahesh No answers yet View Answers | Post Answers |
| 8794 |
Apr. 20 2008 |
Manufacture or not assembly of various parts and make a water purifier –
(INDIRECT TAXES)
Dear Members My quion whether assembly of various parts of water purifier and make a domic water purifier mache is a manufacturg dustry or not. my opion it is a manufacturg because its generates a totally new items which is well marketg with its own name. Kdly confirm ' BY: gopal agarwal No answers yet View Answers | Post Answers |
| 8795 |
Apr. 20 2008 |
refund of service tax –
(Service Tax)
Durg payment of service tax one of our clients has deposited excess tax durg the F.Y. 2007-2008. What is the procedure for refund half yearly urn. Whether it is possible to adjust the same new F.Y. 2008-09. ' BY: gopal agarwal No answers yet View Answers | Post Answers |
| 8792 |
Apr. 19 2008 |
Sec. 45(3) v/s Sec. 50C –
(DIRECT TAXES)
IF A PARTNER BRGS ND AS A CAPITAL CONTRIBUTION AT THE TIME OF FORMATION OF PARTNERSHIP FIRM AND ND IS RECORDED THE BOOKS OF FIRM AS HIS CAPITAL CONTRIBUTION AT A VALUE WHICH IS FAR BELOW THE VALUE DETERMED BY THE STMAP VALUATION AUTHORITY. AS 50C IS APPLICABLE TO COMPUTATION OF CAPITAL GA REAL ATE TRANSACTIONS , THIS CASE WHICH SECTION TO BE APPLIED WHETHER 45(3) OR 50C ' BY: BRAHMIN ARVIND J. No answers yet View Answers | Post Answers |
| 8786 |
Apr. 18 2008 |
ABOUT CLOSING STOCK –
(MISC.)
WHY NOT CLOSG STOCK SHOWN THE TRIAL BANCE??? ARUN GARG ' BY: ARUN GARG No answers yet View Answers | Post Answers |
| 8787 |
Apr. 18 2008 |
Stamp duties on issue of shares –
(CORPORATE & OTHER LAWS)
Is stamp duty payable on issue of shares also? Stamp duties would have been paid at the time of corporation based on capital or at the time of crease authorised capital. Is it payable aga at the time when shares are issued? If answer is yes, what is the duty payable karnataka? ' BY: karthik n No answers yet View Answers | Post Answers |
| 8788 |
Apr. 18 2008 |
Accounting of consultacy fees on abandoned capex project –
(MISC.)
We are 100% subsidiary company of parent co. which is situated out of dia. We have an arrangement with parent company to recover cost curred by us dia. We are chargg for the product sale based on cost plus mark up (after conrg transfer pricg regution). There is one case where dian company entered to an contract with a firm for project consultancy. So we have curred expenses on project consutcy for capex project. But the mean time, this project is cancelled and therefore these expenses can not be capitalised. This project was started to cater to the requirements of parent company but becuase of change busess strategy the project is cancelled. The expenses for project consutancy fees curred by us is gog to be re-imbursed by the parent company. Now queastion is : Whether to show the project consutancy expenses as expenses profit and account and then to show recovery as come OR to route these expenses thru bance sheet i.e. to show recovery from parent co. and square off when money is received. Here parent co. and our project consultancy firm has no any ions. ' BY: Pramod No answers yet View Answers | Post Answers |
| 8783 |
Apr. 17 2008 |
liability of service tax –
(Service Tax)
a work contractor dog busess sce st 2 year .he is not registered with service tax department yet.awarder give formation to department regadg payment made by him .now department gave notice to contractor . what is theremedywhatistaxrate ' BY: JAI PRAKASH VYAS No answers yet View Answers | Post Answers |
| 8782 |
Apr. 16 2008 |
service tax on transportation –
(Service Tax)
a prop receives to supply goods to a co on f.o.r basis. i.e. rs.100 +4%vat +10 as transportation charges. he bills accordgly & transportation charges are paid by co on his behalf to transporter.the transportation charges paid so far are more than 10 cs, whether service tax is payable? by whom? whthr tds is applicable? wthr billg pattern to be changed by way of preparg debit note for transportation? ' BY: sanjay jaju No answers yet View Answers | Post Answers |
| 8778 |
Apr. 15 2008 |
E Stamping for Insurance Company –
(MISC.)
A life surance Company has to enter to a contract with Life sured for Sum Assured on Stamp Paper. Hence, can an surance Company meet its liability of payg Stamp Duty under the E-Stamp Duty Payment option. If so then pls mention the relevant regution reference which permits it. ' BY: CA. DEEPAK CHHABRA No answers yet View Answers | Post Answers |
| 8781 |
Apr. 15 2008 |
TDS On Rent –
(TDS/TCS)
If a co. pay rent of Rs. 27000 pm for one premises through three different agreement with two parties.Three agreement are as follows 1. for rentg premises with Mr. X of Rs. 10000 2. for rentg furniture & fixtures with Mr. X for Rs. 7000 3. for rentg premises with Mr. Y of Rs. 10000. Should co. deduct tds on these payment. Pls. give section and circur reference if any. ' BY: anil kumar kakani No answers yet View Answers | Post Answers |
| 8772 |
Apr. 14 2008 |
E Payment of TDS –
(TDS/TCS)
Dear Friends No. of Audited Concerns as well as companies & Banks have paid their TDS by depositg Physical Chalns Banks even after the E-Payments of Chalns have made mandatory from 4th April,2008. Now I want to know that what will be the consequences of depositg chalns stead of makg E-Payment ? ' BY: CA R K Inani No answers yet View Answers | Post Answers |
| 8773 |
Apr. 14 2008 |
LTA –
(DIRECT TAXES)
Entitilement of our dividual client for LTA are as below- For FY 06-07 - Rs 50,000 For FY 07-08 - Rs 50,000 FY 06-07, he has not cimed any exemption for LTA u,s 10(5) and u,r 2B. Now, FY 07-08, sce he was on a tour dia and spent of Rs 100,000 (approx.). Can he cim Rs 1,00,000 FY 07-08? Thanks, CA Ashish Garg ' BY: Ashish Garg No answers yet View Answers | Post Answers |
| 8774 |
Apr. 14 2008 |
HOW TO ACCOUNT FOR THE INTRINSIC VALUE OF ESOP GRANTS IN A SUBSIDIARY COMPANY –
(AUDIT)
AS PER THE ESOP SCHEME OF OUR HOLDG COMPANY ALL THE EMPLOYES OF HOLDG AND ITS SUBSIDIARIES ARE ELIGIBLE FOR ESOP GRANTS. AS A SUBSIDIARY COMPANY OUR EMPLOYEES GOT ESOP GRANTS FROM HOLDG CO. OUR COMPANY IS DEBITED BY HOLDG COMPANY WITH THE DIFFERENCE BETWEEN EXCERCISE PRICE AND FAIR VALUE. WE WOULD LIKE TO KNOW HOW TO TREAT THIS AMOUNT THE BOOKS OF SUBSIDIARY CONRG THE ACCOUNTG STANDARD (A.S)-26 AND GUIDENCE NOTE ISSUED BY ICAI ON ACCOUNTG OF ESOP. ' BY: BRAHMAIAH.T No answers yet View Answers | Post Answers |
| 8775 |
Apr. 14 2008 |
FEMA,RBI & Companies Act provisions-NRI investment in India –
(MISC.)
A domic private limited company is dog Real ate activities cludg township pnng and house construction dia.NRIs and foreign nationals want to v.Like to learn the ed provisions under the three acts mentioned above.Advice sought for acceptg the money by not viotg the above said provisions. ' BY: N.S.Thirumaran No answers yet View Answers | Post Answers |
| 8776 |
Apr. 14 2008 |
40(A)(3) –
(DIRECT TAXES)
whether the payment made excess of Rs. 20,000,- to Gujart Electricity Board i.e. Govt. undertakg only, would be covered under the provisions of 40(A)(3) of the I.T.Act. ' BY: Jimi R. Modi No answers yet View Answers | Post Answers |
| 8770 |
Apr. 13 2008 |
Capitalisation of borrowing cost –
(AUDIT)
The company has taken a loan foreign currency for acquisition of fixed assets. The company have booked a forward for the repayment of loan. The quion is: 1.Whether the premium on forward is part of the borrowg cost and whether it is to be capitalised? 2.Whether the Exchange Realisable Value(ERV) on prcipals should be capitalised as per ASI 10. to the extent it is regarded as an adjustment to the ter cost? 3.whether ERV on premium should be capitalised or taken to profit and accouunt? 4.If the net result of ERV on call option is a ga,where it is to be taken,ie. capitalised or to be taken to profit and account? ' BY: Ritesh motwani No answers yet View Answers | Post Answers |
| 8771 |
Apr. 13 2008 |
AS-11 –
(FINANCIAL MANAGEMENT)
The terms of pyt for purchase pf raw rial is ex work.voice is therefore booked at the exchange rate on the dt of voice.On 31st Mar the bill is unpaid.The exch rate diff is credited,debited to the creditors.what is the 2nd effect.Will it be debited,credited topurchase or shown a forch exch ga, as a seperate item P,L ' BY: Ranjita Kumari No answers yet View Answers | Post Answers |
| 8765 |
Apr. 12 2008 |
takeover of indian co by the foreigners –
(CORPORATE & OTHER LAWS)
a pvt ltd co formed on 3rd march,2008 with two shareholder directors wants to sell this co to foreigners (staynig germany), pl. tell me the procedure to be followed step by step with the dian ROC, RBI or any other govt department with the id legal expenses for paid up share capital of Rs. one kh. These foreigners are the actual fancers and they have remmited money to one of the dian director,s bank account to form the co and do the formalities of transferg shareholdg to them. co is regd to do the logistic busess dia. fancers are havg their seperate busess germany (pvt ltd).can this arrangement also be done through their co germany. pease tell me the possible way of dog the needful short possible time with the mimum possible expenses at the earli. thanx ' BY: rakesh gupta No answers yet View Answers | Post Answers |
