Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5987 unanswered question(s) — Showing 381–400
| Que. Id | Date | Description |
|---|---|---|
| 21215 |
Feb. 16 2024 |
Income Tax –
(DIRECT TAXES)
An Indian citizen working in foreign embassy in India. Whether the salary is taxable. Embassy is not deducting any TDS for the salary paid to its employee. BY: Shobhit Bansal No answers yet View Answers | Post Answers |
| 21213 |
Feb. 14 2024 |
Provisional Financial statements –
(Companies Act, 2013)
can we as CA Sign Provisional financial statements for Apr 2023 to Dec 2023. We have verified details and docs. BY: samirkumar gokulbhai kasvala No answers yet View Answers | Post Answers |
| 21212 |
Feb. 10 2024 |
082701 –
(GST)
A cloth manufacturing firm does trading also of certain goods having different HSN. GST on cloth is 5% and on yarn is 12% How to calculate Inverted Turnover for the purpose of refund Whether it should be calculated from turnover only or input value of different HSN's will also be considered assuming input comprising of different HSN is sold BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 21211 |
Feb. 06 2024 |
082701 –
(DIRECT TAXES)
Goods purchased from MSME .Payment made after 90 days but within same financial year. What will be affect in view of Sec 43 B(h) After Tax auditor pinpoints this whether Interest payment will be payable @three times of bank rate BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 21210 |
Feb. 01 2024 |
082701 –
(DIRECT TAXES)
A sister has given gift Rs 10Lacs to his brother through bank whether income derived by brother will be clubbed in sister's income. Further where brother does not earn income but uses this gift to clear his outstanding liability What will be the consequencies BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 21209 |
Jan. 31 2024 |
Transfer of business of proprietor to other proprietor –
(DIRECT TAXES)
If an assessee(mother) wants to transfer her business to her son because of old age,what will be the procedure?tax implications? BY: Tanisha Sagar Boramanikar No answers yet View Answers | Post Answers |
| 21208 |
Jan. 27 2024 |
118411 –
(DIRECT TAXES)
"A" is suppliers to "B" and A is registered under the MSMED Act, 2006. As per written agreement between A and B, B is required to retain certain amount from bills of A and that retention is 12% of the bills amount without considering any indirect taxes. A has furnished B a Udhyam Registration Certificate. Now B will pay 88% of the bills to A and 12% retain and that retention shall be payable after 24 months from the date of receipt of goods. Shall section 43B(h) apply to such retention upto 12% of the bill amount? BY: KETAN SHETH No answers yet View Answers | Post Answers |
| 21207 |
Jan. 26 2024 |
082701 –
(GST)
A registered person, An architect firm is paying rent to unregistered person for a property being used for his office . Whether he will be covered under reverse charge BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 21206 |
Jan. 23 2024 |
118411 –
(AUDIT)
Myt client has written cheques dated 25.03.2024 to a trade payable falling under the Micro or Small category as defined under the Micro, Small and Medium Enterprise Development Act, 2006. As on 31.03.2024, the time period allowed under the said Act, has expired. The said cheque is cleard after 15.04.2024. My client is having (1) current account only, (ii) my client is enjoying credit facilty and that cheque is withing drawing power, or (iii) my client is enjoying credit facilty and his limit got exceeded if auditor counts that chequed dated 25.03.2024. My question is : When is the said cheque dated 25.03.2024 and cleard on or after 15.04.2024 treaed as cleard in the books of account? BY: KETAN SHETH No answers yet View Answers | Post Answers |
| 21203 |
Jan. 19 2024 |
JDA where land owner is the builder –
(DIRECT TAXES)
Dear all, We know that transfer does not take place u/s 2(47) r/w section 53A of TP Act,if the JDA is not registered. What will happen if, there are two persons holding a plot of land jointly and want to construct residential complex.Then how the JDA will be drafted and registered ?? Please throw some light on it. BY: SUDIP KUMAR MUKHOPADHYAY No answers yet View Answers | Post Answers |
| 21204 |
Jan. 19 2024 |
GST RATE ON BANQUET HALL WHERE CHARGES TAKEN ON PER PERSON/PLATE BASIS –
(GST)
M/s ABC having banquet hall where they provide their hall for booking to customer and service charges taken on per plate basis however billing is being issued for Hall Rental charges only and GST charged @ 18% and claim ITC etc on input services . Now the GST department team visited at the premises and they asked to M/s ABC to reverse ITC earlier claimed and charged 5% GSTon their Billing (earlier billed also) due to Notification No 20/2019 dated 30 sep 2019 Querry : whether department contention is correct pl. guide with relevant support /ruling BY: SANDEEP KAPOOR No answers yet View Answers | Post Answers |
| 21205 |
Jan. 19 2024 |
Incorrect reversal of ITC –
(GST)
ITC wrongly reversed in Table 4(B)(1) instead of Table 4(B)(2). How to correct the same. Any option BY: SURAJ KUMAR CHOUDHARY No answers yet View Answers | Post Answers |
| 21201 |
Jan. 15 2024 |
Is the past experience of CA in practice counted for new firm if he resigns from existing partnershi –
(MISC.)
I am a member of ICAI since Jan 2020 and hold COP in my individual name since April 2021. I am not a partner anywhere. My father is a practicing CA and a partner in a CA firm since 2002. Now he wants to resign from that firm and we both want to create our new firm with we both being partners. My query is whether my father's experience of more that 20 years in the past firm be counted in the new firm for bank audits?? BY: ABHINAV AGARWAL No answers yet View Answers | Post Answers |
| 21202 |
Jan. 15 2024 |
Wrong POS in Inter State Transaction –
(GST)
Seller from Gujarat sold goods to buyer in WB. While filing GSTR-1 , the P-O-S was inadvertently mentioned as Tamil Nadu instead of WB. The POS shown in Tax Invoice was shown as WB correctly. Now the buyer of goods has been asked to reverse ITC of the IGST as the transaction is showing POS as TN .The WBGST officer is saying that credit cannot be allowed to buyer of WB as the tax on such transaction has been deposited with TN Govt. and not with WB govt. Can the seller claim refund of IGST paid on this transaction from TN govt. If yes, how ? BY: RAHUL PARASRAMPURIA No answers yet View Answers | Post Answers |
| 21200 |
Jan. 12 2024 |
063083 –
(Customs & Excise)
How to apply in DGFT portal for one time extension of the period for producing the installation certificate by a maximum period of 12 months with a composition fee of Rs. 5000/-. BY: CA. PRUSTY SIDHARTHA SHANKAR No answers yet View Answers | Post Answers |
| 21198 |
Jan. 10 2024 |
M.A. Before ITAT where the Tax Effect is Less than Rs. 20,00,000/- –
(DIRECT TAXES)
In the case of an assessee Hon’ble ITAT deleted the addition before the Judgment of Hon’ble SC in the case of Checkmate Services Pvt. Ltd. maintained by Ho’ble CIT(A) on account of payment of employees contribution to PF/ESI after due dates under the respective laws but before the due date of filing ITR. The aforesaid addition in dispute was made by CPC in Intimation u/s 143(1)(a). The department has filed M.A. within time limit before the Hon’ble ITAT. Query: Q1. Since the appeal effect is less than 20 Lakhs whether the M.A. is maintainable? Q2. Since the addition in the above case was made by CPC in Intimation u/s 143(1)(a) while in the judgment of Checkmate Services Pvt. Ltd. of Hon’ble SC in the case of assessment u/s 143(3). Whether the M.A. of the department is maintainable on merits? BY: Govind Agrawal No answers yet View Answers | Post Answers |
| 21199 |
Jan. 10 2024 |
Applicability of Sec 68 of I.T. Act, 1961 –
(DIRECT TAXES)
Appellant has given loan of Rs. 30,00,000/- in F.Y. 2008-09 to ABC through banking channels. Just before the debit of Rs. 30,00,000/- there is a credit in the bank A/c on account of repayment of loan received by the Appellant from his debtor which was given two years back through banking channels. Interest on the said amount and TDS thereon is reflected in Form 26AS and shown in ITR. On the basis of search in the case of ABC it was concluded by the Investigation wing that the loan of Rs. 30,00,000/- is accomodation entry. Notice u/s 148 was issued and reassessment was completed making addition of Rs. 30,00,000/- on the ground that assessee failed to prove three ingredients u/s 68 Query 1. As regards reasssessment whether only on the basis of borrowed satisfaction of investigation wing reassessment proceedings are valid? 2.Whether Notice u/s 148 instead of 153C in the case of third person for search prior to 01-04-2021 is valid? 3.Whether addition of Rs. 30,00,000/- on the ground that the assessee failed to prove the three ingrediants of sec 68 in respect of repayment of loan received from the debtor is valid particularly in view of the fact that repayment was received from debtor? BY: Govind Agrawal No answers yet View Answers | Post Answers |
| 21197 |
Jan. 09 2024 |
Loan from Directors or Relatives of Directors in case of Private Limited Companies –
(Companies Act, 2013)
a) Can a private limited company accept loan from a sole proprietorship concern, where relative of one of the director of the company is the proprietor? b) Can a private limited company accept loan from a partnership firm, where relative of one of the director of the company is one of the partners? BY: ALOK NATH SAHA No answers yet View Answers | Post Answers |
| 21195 |
Jan. 03 2024 |
Filing of GST Appeal –
(GST)
Dear Sir, One of my client has received Assessment Demand Order under Section 73 of CGST Act in GST DRC-07 on dated 28/07/2023 against which we had filed Rectification Application within 3 months time under section 161 of CGST Act to rectify the errors made on dated 02/09/2023. However the officer has rejected application and passed Order for rejection of Rectifcation on dated 28/11/2023 keeping the demand order of DRC-07 unchanged. Now we wish to file appeal against the Order passed of Rectifcation within 3 months time limit. Logically we are following the act & rules in right terms. However Please guide whether we are correct and also help me with any Instructions or Circular or Notification or Case study available for aforesaid same situation. BY: SHUBHAM DILIP SUNDESHA No answers yet View Answers | Post Answers |
| 21194 |
Jan. 01 2024 |
Missed to File form 10BA –
(DIRECT TAXES)
Belated return is filed on 31.03.2023 by claiming deduction u/s 80GG of rent paid, but failed to upload Form 10BA. Return is processed considering the deduction even though Form 10BA is not filed. Can you suggest further course of action in this regard. Thanks. BY: ESWARAIAH Y No answers yet View Answers | Post Answers |
