Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 6746 |
Jun. 05 2007 |
Deduction on a/c of HRA for rent paid to wife –
(DIRECT TAXES)
Can I pay house rent to my wife who is the owner of the house where I am stayg with her.The house is located the same city where i also own a house and which I am proposg to let out.I also work the same city. Will I be able to cim deduction for HRA agast house rent paid to my wife. Arun Kedia arun.kedia@adityabir.com ' BY: Arun Kumar kedia No answers yet View Answers | Post Answers |
| 6747 |
Jun. 05 2007 |
Regarding Cancellation, Surrendering & Re-Registration of Service Tax Number –
(Service Tax)
My Client who is engaged Servicg of Water Treatment pnts is registered with Service Tax. And their Service Revenue for the year endg 31st march, 2007 is Rs. 6.00 khs. But as per t amendment made the budget effective 1.4.2007, the service tax exemption limit has been raised from Rs. 4.00 khs to Rs. 8.00 khs. And the service revenue for the current fancial year 2007-08 will any case not cross Rs. 6.00 khs. view of this my client is seekg my advice regardg canceltion and surrenderg of Registration. my opion, we need to submit the canceltion application alongwith relevant details to the jurisdictional Service Tax Commissionerate. this case we are assessed at Bangalore. As far as my knowledge goes bangalore commissionerate have not come out with any format this regard. But as published service tax referencer for the month of may 2007, Chennai service tax commissionerate have notified the form of canceltion and surrender. Whether we can adopt the same format and follow the procedures dicated there. ' BY: S.SATHYANARAYANA PRASAD No answers yet View Answers | Post Answers |
| 6748 |
Jun. 05 2007 |
VAT –
(INDIRECT TAXES)
CAN COMPANY CHARGE VAT ON SALES G TO PRECORPORATION PERIOD? ' BY: Hemant Suthar No answers yet View Answers | Post Answers |
| 6750 |
Jun. 05 2007 |
Contracts in which directors are interested –
(CORPORATE & OTHER LAWS)
There are two companies- Company A and Company B. There are two common directors for both companies.Company A has received an advance from company B for services that are yet to be rendered. Is it possible to say that Company A has entered to a contract which the directors are tered? If yes, on what grounds? ' BY: Linta Abraham No answers yet View Answers | Post Answers |
| 6751 |
Jun. 05 2007 |
HUF Share Holder –
(CORPORATE & OTHER LAWS)
Whether HUF can a share holder company. ' BY: Sunil Kumar Gulgulia No answers yet View Answers | Post Answers |
| 6753 |
Jun. 05 2007 |
TURNOVER FOR DERIVATIVE TRANSACTION –
(DIRECT TAXES)
What shall constitute the turnover for the derivative transaction... is it the agrregrate of purchase and sale or the agrregate of profit and from the derivative transaction.. is there any cicur,notification or AS this regard.. ' BY: kalpesh No answers yet View Answers | Post Answers |
| 6754 |
Jun. 05 2007 |
TDS rates applicable on professional fees from 01.06.2007 –
(DIRECT TAXES)
Sir, As we all are aware that the Tax has to be deducted at source on Professional & Technical services @ 10% w.e.f 01.06.2007 but the query is that at what rate the tax would be deducted for the Professional services availed the month of May,07, for which the TDS liability arises June,07 ? ' BY: Nidhi Sanei No answers yet View Answers | Post Answers |
| 6756 |
Jun. 05 2007 |
Defination of terms "Dividend" ; "Distribution" and "Profits" for Section 2(22) of I.T. Act –
(DIRECT TAXES)
Dear Sirs , Madams, I would like to have your kd cooperation and suggions for the defations of the terms Dividend,Distribution & Accumuted profits for the purpose of Section 2(22) of the come Tax Act,1961. What are th clusions & exclusions on the captioned term ? Awaitng for reply. Regrds, Nidhi Sanei ' BY: NIDHI SANEI No answers yet View Answers | Post Answers |
| 6757 |
Jun. 05 2007 |
EMPANELMENT OF BANK AUDIT –
(MISC.)
SIR, I WANT TO KNOW ABOUT THE EMPANELMENT FORM OF BANK AUDIT FOR THE YEAR 2007-08. ' BY: BAL KISHAN BANSAL No answers yet View Answers | Post Answers |
| 6758 |
Jun. 05 2007 |
PLA register format –
(Customs & Excise)
Hi, It is seen that all reports and urn formats of Excise and Customs have been changed to accomodate the Secodary Education Cess except for the P register. Kdly let me know if we need to shoew the Education Cess and Secondary Education Cess separately , together the P register. This is required because, the format of P register is still notified by the department and needs to be mataed the same format by the assessee. Thanks Advance CA.HariShankar.R (harsa555@gmail.com) ' BY: Harishankar No answers yet View Answers | Post Answers |
| 6762 |
Jun. 05 2007 |
Professional Association –
(DIRECT TAXES)
Dear Sir, > > I would like to be partner of a CA firm, which maly volved audit activities. > > I have cleared my CA May06 and pursug ISA (DISA) course. I have sufficient frastructure at dore. I also vite those firm > who want to open their branch dore. > > I prefer that firm which can assign professional work for MP,dore > region. > > > Thankg You, > Yours truly, > Narendra Kothari > 0-98270-05411 > Office Address: > 215, Johari Pace > 51, M.G. Road > DORE-452009 > Email: ca_narendra@rediffmail.com ' BY: Narendra Kumar Kothari No answers yet View Answers | Post Answers |
| 6733 |
Jun. 04 2007 |
TDS Remittance –
(DIRECT TAXES)
Can TDS remittance be adjusted agast the TDS reversal of a perticur month , quarter , fancial year. Example: TDS liability respect of payment to A: Rs. 1000 TDS reversal respect of cheque canceltion of B, made st quarter: Rs.200 Net liability for the month: Rs.800. Is it allowed ? If yes, how to report the same ETDS urn as the same does not accept negatives. If no. how to cim the TDS remitted ? ' BY: Jerry Joy David No answers yet View Answers | Post Answers |
| 6739 |
Jun. 04 2007 |
Rate of Depreciation on JCB Excavators –
(DIRECT TAXES)
What should be the rate of depreciation on the JCB Excavator for the Assessment Year2005-06.Is the higher rate of depreciation admissible on this item under Machery and Pnt under Part-A-III of the schedule for depreciation item no.3 when the same is used the busess of the assessee for the purposes defed. State any case w support thereof. The oher fact of the case is that the JCB is registered under M.V.ACT,1988. ' BY: vijay kumar kalia No answers yet View Answers | Post Answers |
| 6728 |
Jun. 02 2007 |
TAXABILITY OF DEEMED DIVIDEND U/S. 2(22)(e) OF THE I.T. ACT & SET OFF OF CURRENT DEPN . CASE LAWS . –
(DIRECT TAXES)
WHETHER DEEMED DIVIDEND IS TAXABLE U,S. 56 AS COME FROM OTHER SOURCES OR U,S. 68 , 69 AS UNDISCLOSED COME OF THE I. T. ACT, 1961? IF TAXABLE EITHER OF ABOVE SECTIONS , THEN WHETHER THE SAME CAN BE SET OFF AGAST CURRENT YEAR DEPN , BUSESS ? KDLY CONFIRM WHETHER THE COME TREATED AS DEEMED DIVIDEND AND PUT TO TAX U,S. 68 OR 69 OF THE ACT, CAN BE SET OFF AGAST CURRENT BUSESS , DEPN. ? WHETHER THE SAME PRCIPLE ALSO APPLIES IF DEEMED DIVIDEND IS TAXED U,S. 56 AS COME FROM OTHER SOURCES ? KDLY CONFIRM AT THE EARLI . THANKS. NALI RAY ' BY: NALINI RANJAN RAY No answers yet View Answers | Post Answers |
| 6707 |
Jun. 01 2007 |
refund –
(DIRECT TAXES)
hi to all. I filed urn of come of one assessee for the assessment year 2006-2007 as on 31,07,2006. The assessee is commission agent sahara. He didnt file urn come for the assessment year 2005-2006. He provided the TDs certificates for fy 2004-2005, 2005-2006. I stated the come computaion of total come as Receipts from commission for fy 2004-2005 xxxx fy 2005-2006 xxxx total xxxx less expen xxxxx tax there on xxxx less: tax paid: tds for 2004-2005 tds for 2005-2006 xxxx refund xxxxx The come tax officer is sayg that i have to file separate urn for each year. But my contention is U,s 41 comes of the previous year which were not disclosed respective assessment year can be clubbed the ocme of followg assessment year. Please crify whether i can club both the comes together and file only one urn or do i have to file 2 separate urns for each year??? ' BY: ch.ramesh No answers yet View Answers | Post Answers |
| 6708 |
Jun. 01 2007 |
Form 16 TDS –
(DIRECT TAXES)
My previous to prevous company is not issug Form 16 to me. After many remders they say that they have couriered at my earlier address. Now my previous Company is askg the above mentioned Form 16 to issue me their Form 16. What course of action should i itiate agast both the companies? ' BY: saji No answers yet View Answers | Post Answers |
| 6709 |
Jun. 01 2007 |
TDS UNDER SECTION 195 –
(DIRECT TAXES)
DEAR MEMBERS LET SUPPOSE A A NON RENT DIA ARRANGE CUSTOMER OUT DIA FOR AN DIAN COMPANY SUPPOSE B. THEN B WANT TO MAKE PAYMENT TO A FOR HIS SERVICE OUT DIA ON HIS BEHALF.WHETHER B IS LIABLE TO DEDUCT THE TAX AT SOURCE UNDER SECTION 195. ' BY: NITYANANDA PARIDA No answers yet View Answers | Post Answers |
| 6711 |
Jun. 01 2007 |
Interest U/s 234A,B on revised return –
(DIRECT TAXES)
One of our client filed revised urn ( he had filed his urn of come on due date) now we have received an timation U,s 143(1) on revised urn to pay ter U,s 234A&B based on the revised urn. My quion is , is the ter is calcuted based on the date of filg of origal urn or revised urn? kdly guide me for a correct decision ' BY: jojijose No answers yet View Answers | Post Answers |
| 6712 |
Jun. 01 2007 |
My income from salary for financial year 2007-08 will be approximately Rs.360000. I will claim a ded –
(Income From House-Property)
Dear Sir I am a saried person and my sary will be Rs. 360000,- for this fancial year 2007-2008. I have sold a nd on may,07 at Rs.200000,- which I bought at may,91 at Rs.20000,-. I get a handicap deduction of Rs.70,- for my disabled child. I took a house-buildg loan and I will get a deduction (sec.24) of Rs.121000,- for ter payment. I will save Rs.100000,- P.F. and others to get rebate under 80C. How much come Tax I will have to pay for this year and when? If I donot want to pay any tax, then what amount of bond of NHAI, REC, NABARD etc. will have to purchase? Is there any other way to save tax? Yours Scerely B. Shoor ' BY: B Shoor No answers yet View Answers | Post Answers |
| 6715 |
Jun. 01 2007 |
royalty –
(VAT/Sales Tax)
payment for use of name of another firm of different state, what should be the rate of CST to be charged on such payment? and if Form C can be used for lower rate of tax on such payments . ' BY: pankaj nuwal No answers yet View Answers | Post Answers |
