Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 8392 |
Jan. 30 2008 |
accounts –
(CORPORATE & OTHER LAWS)
i have made a provision for repair (f,y ) 2006-07 for rs 30000 agast this i have received bill current year 20, there is excess provision of rs.0 whether this 0 is to be credited repair current year or separate a,c short,excess provision written back,even both case we have to pay tax ' BY: surendra phophalia No answers yet View Answers | Post Answers |
| 8393 |
Jan. 30 2008 |
MVAT Last date of filing Audit report for 2006-07 –
(VAT/Sales Tax)
What the st date of filg Audit report for 2006-07 under MVAT? Has it been postponed to 31st March, 2008? ' BY: Ramesh No answers yet View Answers | Post Answers |
| 8385 |
Jan. 29 2008 |
TDS on traveling expenditure for foreign travel –
(DIRECT TAXES)
My client traveled out of dia by the flight of british airways. He purchase tickets from the office situated dia. Whether TDS will be deducted U,s 195 for the payment of air ticket purchased from british airways dia. ' BY: CA. S.S.Dhaked No answers yet View Answers | Post Answers |
| 8386 |
Jan. 29 2008 |
TDS U/s 195 –
(DIRECT TAXES)
A ternational semar on WPMC has been organised dia. My client is organisor dia for the conference. My client is a deemed university. The client have to make payment to the persons who delivered lecturer such conference. All persons who delivered lecture the conference are professors on universitis of other contries. Whether TDS would be deducted on the payment of fees to be made the persons who delivered lecture the conference dia U,s 195 ' BY: CA. S.S.Dhaked No answers yet View Answers | Post Answers |
| 8388 |
Jan. 29 2008 |
PERMISSION RECD BY FOREIGN CO. FROM RBI AS ESTABLISHMENT A LIASION OFFICE IN INDIA –
(OTHER BODIES)
Q.1. Foreign Company has ablish a liaison office dia and the company has received the permission from RBI on 26,9,2007 but the Company has taken the office on Rent from April ,2007 and some necessary expenses also curred by the foreign Company and the Company is havg the Bank Account the Name of Authorized Person stead of Company Name .and as per the permission received from the RBI THE ENTIRE EXPENSES OF THE OFFICE DIA WILL BE MET EXCLUSIVELY OUT OF THE FUND RECEIVED FROM ABROAD THROUGH NORMAL BANKG CHANNELS . But this Case the Company has transferred the Fund to the Authorised Persons account through the Bankg Channel and the account is exclusively used for the purpose of the Companys transactions. This Account is valied or not please advice . ' BY: R.C.JAIN No answers yet View Answers | Post Answers |
| 8383 |
Jan. 28 2008 |
Tax Audit –
(DIRECT TAXES)
ABC Ltd. has a gross receipts of 37cs, unsecured loans of Rs.9 cs which are o,s. for a long period and loans & advances of around 8.7 cs. 1.Can unsecured loans which management has agreed to write off be set off agast loans & advances? 2.If the above is not possible can we write off unsecured loans & loans & advances through any other method? 3.If the set off is possible will 9 c be added while calcutg limit of Tax Audit u,s.44AB? 4. If yes,whether net amount will be conred or gross amount of Rs. 9 cs of unsecured loans be conred for the purpose of Tax Audit? ' BY: Ratneshchand Jain No answers yet View Answers | Post Answers |
| 8384 |
Jan. 28 2008 |
Depreciation –
(CORPORATE & OTHER LAWS)
A Private limited company engaged the manufacturg of article used sigle shift rate of depreciation as per schedule xiv of the Companies Act 1956. Now the company is pnng to provide depreciation rate lesser than as specified sgle shift. Now my quion is how it can be cimed lesser depreciation than as specified schedule xiv. If it is possible what proceedure the company should follow. ' BY: Jimi R. Modi No answers yet View Answers | Post Answers |
| 8373 |
Jan. 25 2008 |
FBT on uniform allowance/safety allowance –
(DIRECT TAXES)
Whether FBT is applicable on the uniform allowance,safety shoes given to employees workg offices (eg a factory accounts, personnel dept)? ' BY: Vijay Ummi No answers yet View Answers | Post Answers |
| 8374 |
Jan. 25 2008 |
Labout Contractor is covered under Man Power Recruitment and supply Agengys Services –
(Service Tax)
Whether bour Contractor is Liable for Service Tax under the category Man Power Recruitment and supply Agengys Services. CBECs FAQs, the department has crified that service tax is not levied on amount received by the bour contractor as it is for the execution of work and not for employment of manpower. But it is doubtful whether this crification is valid after the clusion of supply of manpower under the taxable services. ' BY: sudeep kimtee No answers yet View Answers | Post Answers |
| 8379 |
Jan. 25 2008 |
Duties on Cell Phones. –
(INDIRECT TAXES)
If we import cell phones for tradg activity what would be the duties levied while customs clearance. If the same is manufactured dia what are all the taxes and duties to be levied. ' BY: KANNAN.M.J No answers yet View Answers | Post Answers |
| 8365 |
Jan. 24 2008 |
Definition of the term regular workmen in Section 80JJAA –
(DIRECT TAXES)
The defition of Regur Workmen as per sec. 80JJAA excludes any person who is actg a supervisory capacity and draws sary of more than Rs. 1,600,- p.m. Is it applicable todays scenario where the said amount is sopposed to be nomal? As per my opion if the workmen draws sary of more than Rs. 1600 p.m. but if he is not workg supervisor capacity, he will be eligible as regur workmen. Can anybody confirm the above on any basis? ' BY: DHEERAJ LALWANI No answers yet View Answers | Post Answers |
| 8367 |
Jan. 24 2008 |
Depreciation –
(DIRECT TAXES)
Dear All, My company is power sector, of which different projects are construction stage.The company has transferred the amount from CWIP to different assets.So, now from this fancial year, shall the company is allowed to cim the depreciation on the allocated assets regardless of the fact that,projects are construction stage? Is there any requirement to provide depreciation , not to cim depreciation durg construction period? Are we required to prepare the P&,c or expenditurea,c durg construction period. Kdly reply ASAP. Thanks CA.Anuj Kumar Sharma ' BY: CA Anuj Kumar Sharma No answers yet View Answers | Post Answers |
| 8369 |
Jan. 24 2008 |
Levy of Interest under section 234B & C in case of delay in depositing TDS payable –
(TDS/TCS)
Dey TDS deposition Assessee is AA css civil contractor. he has deducted TDS on works sub contract durg (1-1-05 to 31-3-05)Q-4 of Fancial year 2004-05. the TDS was deposoied by him on 2-6-07 & 7-6-07. Now AO has disallowed all the amount of works contract amountg RS. 50.00 cs and levied ter u,sec. 234 B & C. Assessee has also come FY 05-06 amountg Rs. 30.00 cs. My two ma concern is whether AO is correct by disallowg Rs. 50.00 cs FY 04-05? Whether this amount can be C,F as busess and adjusted Rs. 30.00 cs by revisg the urn of FY 05-06 and Rs. 20.00 cs FY 06-07. Futher is there any case decided where ter u,sec. 234 B & C can be waived as dey just of 2 days, tention of assessee is fair. is there any decision for the same ? ' BY: sangeeta bordia No answers yet View Answers | Post Answers |
| 8371 |
Jan. 24 2008 |
TDS on Foreign Job work (Printing of Books) and Freight Payment –
(DIRECT TAXES)
We are gettg some of the books prted Sgapore from a prter sgapore, who does not have any PE dia and does not have any other office or ion dia, Please sugg are we liable to deduct TDS on Prtg job. We are also payg freight to foreign freight forwarders for ward freight, please advise is TDS applicable on this payment. Regards Anil ' BY: Anil Chugh No answers yet View Answers | Post Answers |
| 8361 |
Jan. 23 2008 |
Income Tax (TDS) –
(TDS/TCS)
Certa payees produce certificate under section 197 (1) (a) from their officers authorizg payments with lesser or nil rate of tax deduction. This endorsement is dated say 30th June. Does it cover amounts paid\ payable for the period 1st April to 30th June also? ' BY: Ethirajan No answers yet View Answers | Post Answers |
| 8362 |
Jan. 23 2008 |
income chargeable in whose hands –
(DIRECT TAXES)
mrs x and mrs y has made Fixed deposit of Rs. 7,00,000,- with scheduled Bank the month of january 2000. Mrs. X was died on 31-3-2002. As per her will this amount should go to a particur samaj. Samaj was not registered at the time of Mrs x death but, it was registered recently the month of December 2007. on whose head the Accrued ter credited to the deposit account is chargered under the come tax Act ' BY: gpkumar No answers yet View Answers | Post Answers |
| 8363 |
Jan. 23 2008 |
ROC Filing of Liaison Office - Form 52 –
(CORPORATE & OTHER LAWS)
Please advise whether it is compulsory to file the Global Accounts and General Body Resolution alongwith the dia Accounts E.Form 52 with the ROC ' BY: Deepak Azad No answers yet View Answers | Post Answers |
| 8353 |
Jan. 20 2008 |
SERVIVE TAX ON GOODS TRANSPORT –
(INDIRECT TAXES)
WHETHER SERVICE TAX IS TO BE PIAD BY PAYEE IF THE TOTAL RECEIPTS OF TRANSPORTER THE FANCIAL YAER ARE LESS THAN RS.700,-. ' BY: D PBANSAL No answers yet View Answers | Post Answers |
| 8350 |
Jan. 19 2008 |
Free supply of material under composition scheme –
(Service Tax)
We have opted to pay service tax on works contract @2.06% under the composition scheme. Please crify the provisions regardg taxability of free supply of cement and steel provided by the contractee the execution of the works contract. Whether the contractor is required to clude the value of free rial received from the contractee under gross amount charged? ' BY: AJAY SHARMA No answers yet View Answers | Post Answers |
| 8346 |
Jan. 18 2008 |
GUIDENCE NOTES ON ACCOUNTING STANDARD –
(MISC.)
CAN ANY ONE PLEASE LET ME THE SOURCE FROM WHERE I CAN THE DETAILS OF ALL GUIDENCE NOTES ISSUED BY ICAI ON ACCOUNTNG STANDARD.. I AM APPEARG FOR MAY 08 (FAL) EXAMS., ALSO PLS LET ME KNOW THE REVENT G.NOTES ON WHICH SHALL I CONCENTRATE... THANKS HEMANTH KUMAR STUDENT., ' BY: HEMANTH KUMAR.M No answers yet View Answers | Post Answers |
