Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5986 unanswered question(s) — Showing 3581–3600
| Que. Id | Date | Description |
|---|---|---|
| 7958 |
Nov. 14 2007 |
Service Tax on Sales Commisions –
(Service Tax)
da Company are merakatg dia, Bangdesh and Bhutan on behalf of a German Company.dian Company receive the sales commission foreign Currency on sales made by the German Comapany directly dia, Bhutan and Bangdesh.Now quion is that service tax is payable on this sales commission received foregn currency or not? ' BY: Pradyut Meyur No answers yet View Answers | Post Answers |
| 7951 |
Nov. 13 2007 |
Deduction u/s80E interest on education loan –
(DIRECT TAXES)
The trag for a commercial pilots licence dia or elsewhwere costs arount Rs 20 khs a number of banks are givg loans for this upto Rs 15 khs The ter burden has to be bourne by the borrower which is a tidy amount sce the course does not come under the norms of graduate,post graduate course as is normally understood sce it is not taught by any stitution approved by the UGC What is the relief avaible to the parent,borrower such cases under the IT Act Why is the partiality this case particurly when there is a dearth of pilots dia? ' BY: M P Menon No answers yet View Answers | Post Answers |
| 7952 |
Nov. 13 2007 |
Entry Tax on Cement Purchases from Chennai by Civil Contractor -VAT Dealer In Karnataka –
(VAT/Sales Tax)
Is the entry tax to be paid on cement purchase from Chennai by a Civil Contractor-VAT Dealer Karnataka ? If it so so what is the rate of tax ? Suppose the said civil contractor executg the work to Karnataka VAT Dealer (Contractee) who has got the exempiton certificate on entry tax to setup its power pnt, can the said civil contractor avail the entry tax exemption on the strength of contractees entry tax exemption certificate ? If yes, what is the procedure ? ' BY: CA Mallikarjunaiah. B No answers yet View Answers | Post Answers |
| 7946 |
Nov. 12 2007 |
Addtional Depreciation –
(DIRECT TAXES)
Whether manufacutre of ready mix conce, where cement, sand and stones are mixed a pnt specified ratio, as required by the customers, are supplied to other parties who uses them for their construction activities, would amount to manufacutre or production. The assessee producg such ready mix conce is not carryg out any construction activity on its own. Whether decision of Supreme Court the case of N.C.Bhudiraja 204 ITR 830 has any applicability to the case ' BY: DEEPAK BANSAL No answers yet View Answers | Post Answers |
| 7947 |
Nov. 12 2007 |
Query on TDS –
(TDS/TCS)
Sec.194C provides for TDS @ 1% for sub-contract payments. To fit to ‘sub-contract’, whether back to back contract alone will be treated as ‘sub-contract’ A builder contractor if he sub-contracts only electrical work to another person, whether this will be treated as ‘sub-contract’ C.P.ETHIRAJAN ' BY: Ethirajan No answers yet View Answers | Post Answers |
| 7948 |
Nov. 12 2007 |
FBT & TDS –
(DIRECT TAXES)
Will any type of expenses,payment volve both FBT & TDS? Kdly specify weather both will be effected any sort of Transation, Please provide with example. ' BY: Kiran No answers yet View Answers | Post Answers |
| 7945 |
Nov. 10 2007 |
Deduction U/s24 and deduction U/s 80C –
(DIRECT TAXES)
Dear sirs, One of our client have housg loan. He had taken more than 3years before. He has not been completed the constuction yet. He had accumuted the ter paid durg the st 3 years and not yet cimed any deduction u,s 24. Sir my quion is 1.whether he can cliam the deduciton U,s80C for housg loan prcipal repayment. 2. The above property is jotly owned with his wife whether both of them can cim 50:50 3.How much deduction he will get this year ' BY: joji jose No answers yet View Answers | Post Answers |
| 7942 |
Nov. 09 2007 |
Interest on Housing Loan –
(Income From House-Property)
The House property is purchased the name of a family member of the assessee. However, the housg loan is taken the name of the assessee and the repayment of prcipal and ter is beg made by the assessee. Under the circumstances, can the assessee be conred a deemed owner of the house property? ' BY: Avinash No answers yet View Answers | Post Answers |
| 7943 |
Nov. 09 2007 |
Error in TDS Challan –
(TDS/TCS)
Two companies - ABC Ltd and DEF Ltd are group companies. ABC Ltd has paid the TDS on Sary for Oct 07 from its bank account. But the chaln erroneously contaed PAN & Name of DEF Ltd. Hence, DEF Ltd got the credit of the said amt ITD Records (i.e. OLTAS NSDL Site). How to rectify the above clerical error? ' BY: PRATIK V DHRUVE No answers yet View Answers | Post Answers |
| 7944 |
Nov. 09 2007 |
Acceptance of Deposits and repayment of the same - applicability of 269SS and 269T of IT act - pract –
(DIRECT TAXES)
Conr the Nidhi Companies. They have FDs, Re-vment deposits, Recurrg Deposits and Savgs Deposits. They function ak Bankg, but do not participate clearg or money transfer. Where a depositor has more than Rs.20000 FDs and RIDs, if he has to open an RD for Rs.100 per month, the Company is required technically to accept only by cheque as required by sec.269SS. Good way to avoid dog busess. Aga Savgs Deposits were meant for people to have a current account like facility with the Nidhi Company. Even here deposits or withdrawals of as less as Rs.25 will have to be by cheque only under these two sections if the depositor has an FD of Rs.20000 or more. Is there any exemption under these sections other than agricultural comes, which is applicable to this css of companies? ' BY: H B BHASKAR SHENOY No answers yet View Answers | Post Answers |
| 7937 |
Nov. 08 2007 |
Remittance outside India –
(MISC.)
One busessman wants to send $1.5 million for a lucrative vment opportunity out dia. As per the new RBI regutions the maximum limit is $200,000 per person . If there are 4 adult family members a family, it can be 4 x $200,000 = $800,000. Is there a way out ? ' BY: sundar No answers yet View Answers | Post Answers |
| 7941 |
Nov. 08 2007 |
transfer and pricing of international transactions-maint. of records –
(INTERNATIONAL BUSINESS)
I want to know if there is any register or forms prescribed to record the transactions made by a foreign company to dian company under the same management for transfer pricg to cim exemtion u,s 10A and 10B of come tax act If so, where they would be avaible. ' BY: ashok kumar jain No answers yet View Answers | Post Answers |
| 7935 |
Nov. 07 2007 |
Tax treatment in case of a society running a Sr. School –
(DIRECT TAXES)
Dear colleagues, Let me know the tax treatment case of a society, which is runng a school and which is not registered as trust the come-tax Deptt. U,s 12A(a). Whether the come of the society is treated as exempt or it shall be chargeable as AOP and atthe maximum margal rate. Pl. sugg. ' BY: Rajender Singh No answers yet View Answers | Post Answers |
| 7927 |
Nov. 06 2007 |
Renting of Immovable Property –
(Service Tax)
Rentg of immovable Property was traduced wef 11.5.07. My Quion is when the rent for the month of May is collected on 5th of june, whether we need to collect the Service tax for the whole of May month or Part(from 11.5.07) or ST need not be collected for May and only fron June St starts. ' BY: C S Soppimath No answers yet View Answers | Post Answers |
| 7930 |
Nov. 06 2007 |
Fringe benefit –
(DIRECT TAXES)
Whether performance Reward,given to all employees on the basis of performance of the company ,should be conred as frg benefit or should be conred as sary and tds is to be made ' BY: Ravin No answers yet View Answers | Post Answers |
| 7932 |
Nov. 06 2007 |
tds –
(DIRECT TAXES)
The assessee makes tds from payment to transporters but the transporter does not provide PAN. Now the urn for TDS is not accepted as they require mimum 70% PAN. The form 26Q is rejected for the want of PAN. Even if the transporter did not provide the PAN the assessee has himself paid TDS. Up to now he was mentiong NOT AVAIBLE form 26Q but now it is not possible. What to do now ? ' BY: MITESH CHUDASAMA No answers yet View Answers | Post Answers |
| 7921 |
Nov. 04 2007 |
taxability of legal representative –
(DIRECT TAXES)
A. an dividual lost his four family members an accident, two beg mor sons. After a prolonged court battle he was awarded compensation by the court. The surance co. paid dividual cheques of compensation and as per the those for ter on compensation, all As name, but, after deductg TDS his name. The AO is desirous of taxg all the ter the hands of A. Advice legal locus standi. ' BY: Sharad S.Samant No answers yet View Answers | Post Answers |
| 7923 |
Nov. 04 2007 |
PART PAYMENT FROM SERVICE RECEIVER –
(Service Tax)
Service is provided to the tune of Rs.2 khs.S.Tax raised @ 12.36%,i.e,rs.24720.Service receiver paid Rs.1 kh as first stalment.Service provider paid Rs.24720(full S.tax)even though he has received only 50% of the contract amount.ter the service receiver cancelled the contract as there were some defects the service rendered.Now what is the procedure for the service tax provider to get refund of full amount he has paid to the Govt? Is there any case w?pls.provide sec.,rule.Thanks ' BY: Bala No answers yet View Answers | Post Answers |
| 7918 |
Nov. 03 2007 |
TDS on Film rights –
(DIRECT TAXES)
My client deals purchase and sale of film rights. As per Sec 194J royalty is also cludes professional payment. Accordgly the TV channels to whom my client sells the rights are deductg TDS. My querry is whether the film rights purchased from producers or from other persons who rights from producers is liable for TDS. As there is no royalty this case. Films are stock trade for my client. TV channels are deductg from him as he is an come tax assessee and he can not oppose deduction of TDS. But the producers and middlemen and legal heirs of producers from whom he proposes to deduct TDS are not aggreeg for the same as it is not a busess for them. ' BY: J. ANANDA BABU No answers yet View Answers | Post Answers |
| 7920 |
Nov. 03 2007 |
Capital Gain Inrespect of Units under STPI –
(DIRECT TAXES)
As the Total come from busess of an unit ablished under STPI is allowed as deduction under the section 10A or 10B, whether the capital gas of the same unit is also to be conred for deduction under the section. As the cuse specifically says that only come derived from the busess is eligible for deduction, can capital gas be called as the come from busess. ' BY: Gopikrishna D N No answers yet View Answers | Post Answers |
