Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 8246 |
Jan. 01 2008 |
TDS u/s 194C –
(DIRECT TAXES)
Does Tax is required to be deducted u,s 194C a case where freight is booked by M,s ABC which issues consignment notes but the truck owners to whom freight is paid are other persons. The total freight durg a year does not exceed Rs. 50,000,- as far as dividual truck owners are concerned but it exceeds the limit as far as the freight bookg agency M,s ABC is concerned which issues the consignment notes. ' BY: Tanuj Agrawal No answers yet View Answers | Post Answers |
| 8247 |
Jan. 01 2008 |
Pvt. Ltd. Co. –
(CORPORATE & OTHER LAWS)
A & B are the partners of M,s AB & Co. A is also a shareholder & director of XYZ Pvt. Ltd. Whether XYZ Pvt. Ltd. can accept deposit from M,s AB & Co.? M,s AB & Co. is not a direct shareholder and Companies Act, 1956, does not recognise a partnership firm as ive u,s 6. Whether XYZ Pvt. Ltd. has d the defition of private company u,s 3(1)(iii) or not? ' BY: Tanuj Agrawal No answers yet View Answers | Post Answers |
| 8249 |
Jan. 01 2008 |
Foreign remittance received –
(DIRECT TAXES)
Q. If X person is workg USA Co. and he is gettg as Consultancy Charges from USA and he wants to transfer the money an dian Pvt. Ltd Company which he is a shareholders and his father and mother is a Director. 1) He can raise the bill from Pvt Ltd Company (dian) to foreign Co. and this case which type of supportg is required to provide the Consultancy Services to the USA Company because the X is not on the record of an dian Pvt. Ltd Co. 2) Mr. x (Son of the Directors of dian Pvt. Ltd co.) become the Director of the co. and Mr. X rential status is NRI. Mr. X can give the Consultancy to USA Co after become a Director on behalf of the dian Company. that case if the Son has curred the Expenses agast the Consultancy can this expenses cimed and how these expenses can be cim. ' BY: R.C. JAIN No answers yet View Answers | Post Answers |
| 8250 |
Jan. 01 2008 |
Query on Service Tax –
(Service Tax)
Query on Service Tax Commercial buildg is co-owned by two persons and the gross rent is only Rs.14 cs. Is exemption of 8 cs avaible to each owner separately and none pays tax. Is exemption provided under notification no.6,2005 is “qlua service” or “qlua service provider” C.P.ETHIRAJAN ' BY: Ethirajan No answers yet View Answers | Post Answers |
| 8240 |
Dec. 31 2007 |
Note: Category PART 2, PART 3 are ineligible for RBI Panel. –
(MISC.)
Note: Category PART 2, PART 3 are eligible for RBI Panel. ' BY: Durga Agarwal No answers yet View Answers | Post Answers |
| 8234 |
Dec. 30 2007 |
Mining service - What it covers ? –
(Service Tax)
case of Cement dustry, For extraction of limone from mes we are usg the followg services from contractors: 1. Drillg of Stone usg contractors machery to enable bstg. 2. Transportation of bsted lime stone (usable) to Crusher yard usg Dumper,Heavy vehicle. 3. Trasportation of unusable items such as mud,etc. to dump yard. All the above are beg carried out at mes. Q: Whether the above attract service tax under mg service ? Suppose the waste dump generated at mes are transported to out the mes. Whether it will cover under mg service or GTA? ' BY: M. PALANI No answers yet View Answers | Post Answers |
| 8236 |
Dec. 30 2007 |
GP ADDITION MADE OF RS.225000/- FOR AY.2005-2006 When already declarationof 15 lacs was given in sur –
(DIRECT TAXES)
A.O MADE GP ADDITION of 2.25 cs for AY 2005-2006 however he conducted survey before falisg AY 05-06 and took a decration of 15.5 cs for FY 2007-2008 on 23.10.2007. spite of this he made addition on ground of GP when decration covered every thg till the date of survey. i wanted remedial case ws for filg CIT appeals so that GP addition gets abolished. ' BY: Ashutosh Mandore No answers yet View Answers | Post Answers |
| 8237 |
Dec. 30 2007 |
Refund of service tax –
(Service Tax)
Can an export house (company) cim refund of service tax paid on any services (e.g. service tax paid on telephone bill, courier etc.)? ' BY: Siddhartha Tandon No answers yet View Answers | Post Answers |
| 8226 |
Dec. 29 2007 |
Service Tax applicability if there is joint bill for goods supplied & service charges collected –
(INDIRECT TAXES)
suppose some body supply the goods as per the requirement of his client & adds a certa percentage as service charges for goods supplied, than on what amt. service tax is to be collectead & paid & on what amt. sales , VAT tax is to be collected & paid to respective dept., He also supplies the man power service to his clients, is seprate set of bills is to be mataed for different service & for goods supplied to customer as per their requirement. Posted by Gautham Kumar Ja on 08,12,2007 ' BY: Gautham Kumar Jain No answers yet View Answers | Post Answers |
| 8227 |
Dec. 29 2007 |
proceedure for repatriation of capital gain earned in india after payment of applicable capital gain –
(DIRECT TAXES)
proceedure for repatriation of capital ga earned dia after payment of applicable capital ga One of my client has sold a house property dia & after payg the applicable capital ga he wants to repatriate the amt., what is the procedure & requirement as per come Tax Act & and any rriction by RBI for same, kdly answer Posted by gautham kumar ja on 08,12,2007 ' BY: Gautham Kumar Jain No answers yet View Answers | Post Answers |
| 8232 |
Dec. 29 2007 |
Conversion of Partnership Firm to Pvt. Ltd. –
(DIRECT TAXES)
A partnership firm havg 3 partners only want to convert to Pvt. Ltd. company. The firm is haveg immovable property situated Maharashtra State. If we follow the method of coroporation of new Pvt. Ltd. company, get admitted the company as partner then dissolve the partnerhip firm, Stamp duty will be applicable as per Bombay Stamp Act. The partners dont tered formation of Jot stock company as per Companies Act chapter IX. have any one converted the partnership to Pvt. company taken benefit of Sec47(xiii, conrg above two codnitions. Thank ' BY: AJAY No answers yet View Answers | Post Answers |
| 8233 |
Dec. 29 2007 |
what is the latest provisions & rules of FDI in India –
(INTERNATIONAL BUSINESS)
What are the t Rrictions & Routs of FDI dia under various sectors? Any conflict position of FDI Rules with Security Concern dia? What should be the changes the FDI norms to acceelerate the dian economic Growth? Which sector is the most beneficial through FDI at present? What is the sector wise contribition of FDI sce st 20 years? Country wise contrbution & Which Country is most cotributory dia FDI? Who are the FDI regutory body dia and their powers & rrictions? Any other formation and suggions, members of our ICAI would like to post here under FDI. contribution ' BY: Sunil Kumar Rastogi No answers yet View Answers | Post Answers |
| 8217 |
Dec. 28 2007 |
Fixed Asset Register –
(CORPORATE & OTHER LAWS)
Is FIXED ASSET REGISTER a statutory Register under The Companies Act, 1956 for every company? ' BY: Jimmy No answers yet View Answers | Post Answers |
| 8222 |
Dec. 28 2007 |
deduction for exporters under Income Tax Act –
(Profits & Gains of Business & Profession)
kdly let me know the deductions avaible to an exporter of goods under the come Tax Act 1961 after the withdrawal of section 80HHC with effect from the assessment year 2005-2006. ' BY: anwar iqbal No answers yet View Answers | Post Answers |
| 8210 |
Dec. 27 2007 |
Gratuity Disallowance U/S 40A(7) –
(DIRECT TAXES)
Dear Freds, Section 40A(7) disallows provision for gartuity as an expense, our case we pay certian amount to LIC for Gratuity and LIC takes responsibility to make payment to the employees on reiremnt etc. Now my query is wheather disallowance operates our case as we are not makg mere provision but makg payment to LIC. B Regards ' BY: Bhuvnesh No answers yet View Answers | Post Answers |
| 8211 |
Dec. 27 2007 |
Wealth Tax –
(DIRECT TAXES)
How will valuation of motor cars be done? As per Rule 20, the value of that assets is the market value as on 31st March? How can we determe the market value of motor cars? Thanks, CA. Ashish Garg, Delhi ' BY: Ashish Garg No answers yet View Answers | Post Answers |
| 8216 |
Dec. 27 2007 |
rate of S T to be charged on billing –
(Service Tax)
Sir, for the st 4 years i am rassg all bills the year 07-08. Please advise me the rate to be charged for the billg whether it is current rate 12.36% or rate of year when service was rendered respective year. ' BY: CA SURENDER KUMAR No answers yet View Answers | Post Answers |
| 8202 |
Dec. 26 2007 |
Capital Gains –
(DIRECT TAXES)
Is tradg derivatives conred as specutive transaction? Can I set off from derviative tradg with come from Sale of ESOP shares (sold Us market). ' BY: satishchandra s jain No answers yet View Answers | Post Answers |
| 8203 |
Dec. 26 2007 |
Yield % of Ingot in Iron Industries Furnace –
(DIRECT TAXES)
Wht is the yield % of got Iron dustries for furnace acceptable by the come tax. please give the reference any case w decided by the supreme court or high court. ' BY: umakant tamrakar No answers yet View Answers | Post Answers |
| 8206 |
Dec. 26 2007 |
Vat vs Serv ice tax –
(VAT/Sales Tax)
One of my client is engaged the busess of Mataance of photocopier maches (clusive of Rent & supply of tonner, etc). Monthly voice is raised on per copy basis where services are not diferentiated from supply of goods. Mantaance Charges is mentioned on the voice but nothg is mentioned about supply of Tonner, spare parts, etc. Now I want to know Whether: a. VAT or b. Service Tax or c. VAT + Service Tax is chargeable to such kd of billg Because to the extent of my knowledge Service Tax is chageable on Mataance contracts Please crify on the above issue. Awaitg for your reply. ' BY: Manish Katyal No answers yet View Answers | Post Answers |
