Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5986 unanswered question(s) — Showing 3981–4000
| Que. Id | Date | Description |
|---|---|---|
| 6585 |
May. 21 2007 |
Interest on delayed payment of TDS –
(DIRECT TAXES)
As per the IT w ter will be levied at the rate of 12%P.a. on deyed payment of TDS. For monthly deductions for which payment of tds to cometax will be made by the 7th of next month. Suppose if it is deyed, how much ter to be paid. Whether 1. ter @12%p.a or 2. ter @1% per month or part of the month. For example: if the due date for deduction of TDs is 20th april, it has to be paid before 7th of may to come tax deptt.If it is deyed by 10 days,then how much ter to be, whether 12%pa for 2 months or 1 month. ' BY: Sridhar B Jalluri No answers yet View Answers | Post Answers |
| 6586 |
May. 21 2007 |
Applicablity of MSMEDA (Micro, Small and Medium Endterprises development act 2006) –
(CORPORATE & OTHER LAWS)
Hi, I want to know that under MSMEDA what kd of service providg enterprise are required to register and is that applicable to pvt ltd. company engaged prodn of movies and tv serials regards vikas sharma ' BY: Vikas sharma No answers yet View Answers | Post Answers |
| 6588 |
May. 21 2007 |
partnership firm into a company –
(CORPORATE & OTHER LAWS)
Exp the complete procedure of conversion of an existg partnership firm to a company? ' BY: kvs srinivas No answers yet View Answers | Post Answers |
| 6591 |
May. 21 2007 |
Higher & Secondary Education Cess Accounting Code. –
(Service Tax)
whats the service tax accountg code for higher & secondary education cess levied the recent budget? ' BY: guru No answers yet View Answers | Post Answers |
| 6592 |
May. 21 2007 |
refund of service tax deducted –
(Service Tax)
whether a dividual transporter whose turnover less than 8 khs can cim refund of service tax deducted by the company under GTA services? ' BY: guru No answers yet View Answers | Post Answers |
| 6593 |
May. 21 2007 |
VAT applicaility to the Construction industry under the composition scheme –
(VAT/Sales Tax)
Generally the applicable VAT to the construction dustry(buildg of apartments) is 4%.If the company is gog for composition scheme ,it will get 75% exemption subject to conditions,i.e under the composition scheme the vat is gog to be charged @ 1%.one of the condition for this composition scheme is, company has to purchase all required rials for the construction with the state only. if any company which is under composition scheme purchased the rials from out state. what is the VAT implications that case? ' BY: apparao alaparthi No answers yet View Answers | Post Answers |
| 6566 |
May. 19 2007 |
Liability for Service Tax on Mobile Recharge Voucher Seller –
(Service Tax)
Sir, My client is mobile recharge voucher seller.Sellg price of voucher is Rs.112.00 which clients purchase price of voucher is Rs.109.00,Rs3.00 is commission .Voucher price is Rs. 100.00(cludg commission of Rs 3.00) and compnay pays Service Tax of Rs.12.00 so that sellg price comes to Rs.112.00. My client received notice from Excise Deptt. That u have a liabilty to pay service tax if your gross receipts of voucher sale exceeds Rs. 4.00 cs. My quion is on what account and head liability of service Tax Registration and payment of Service Tax is arise on recharger voucher sale.whether Notice given by excise deptt is logically correct because company has already paid service tax on commission also? ' BY: Harpreet Singh Saluja No answers yet View Answers | Post Answers |
| 6570 |
May. 19 2007 |
Whether Compensation paid allowed. –
(DIRECT TAXES)
sir my client received an amount of Rs.5 kh as advance bookg agast ft but the possession of the said ft was not given to the client due to non completion as the said ft was given year 2007 and the sale deed made of Rs.10.20 kh. so i want to know whether an extra amount of Rs.5.2 kh which is not receivable as the clet taken as compenasation is allowed under the I.I.Act as busess expenditure and under which head and any deduction of TDS required. ' BY: Atulkumar Lohiya No answers yet View Answers | Post Answers |
| 6575 |
May. 19 2007 |
TAX ON INTEREST PAID TO RESIDENT OF CAYMAN ISLANDS, UK –
(INTERNATIONAL BUSINESS)
A dian Co has to pay ter to rent Co of Cayamn Isnds, UK and British Virg Isnds(BVI), UK. The foreign Co doesnt have Permanent ablishemnt dia. As per Article 12,13, Withholdg tax @15% has to be deducted on payments made to rents of UK. My Query is that even though Cayman and BVI are known as tax heaven countries as there is no come Tax will it be necessary to deduct withholdg tax. This query arose due to the defition of UK stated the DIA UK DTAA that UK means Great Brita and Northern Irend. Thus the ma query is :- 1) whether Cayman Isnds and British Virg Isnds are part of Great Brita and Northern Irend, Kldy support with lks to any site or other formation rial, and 2) if not, whether withholdg trax has to be deducted at 20% i.e. dia TDS rate. ' BY: Sumeet Sodhani No answers yet View Answers | Post Answers |
| 6576 |
May. 19 2007 |
Service tax on Commission & Incentives –
(Service Tax)
Company has been engagged as Authorised Automobile dealer and registerd under ASS and BAS sce 2001.My quion is -1 Whether centive received from prcipal for acheivg target sale is taxable.-2 As per Circur no.87,05,2006 ST dt.6.11.2006 gross amount of commission received from bank is taxable.Whether this will applicable on payments received after 6.11.2006 or from commencement of Fance commission became taxable. Please refer notification\section relevent.Thanks ' BY: Jeevan Jagetiya No answers yet View Answers | Post Answers |
| 6577 |
May. 19 2007 |
IMP.-Applicablity of Right to use act -Delhi VAT on rent a cab operator –
(VAT/Sales Tax)
A Delhi based company is engaged providg cabs to its clients(BPOs & other companies),the contract with the clients is for a fixed period allotted to the company after successful tender. The company is chargg & depositg service tax under the service Rent A CAB under the service tax act. Is the company is also liable to pay VAT under the Right to use Act? kdly give the reference of relevent provisions of act or case w while givg answer favour or agast. ' BY: CA. RAMESH KUMAR No answers yet View Answers | Post Answers |
| 6557 |
May. 18 2007 |
TDS –
(INDIRECT TAXES)
Is TDS Applicable for import of System software.If Yes at What rate? ' BY: karthik No answers yet View Answers | Post Answers |
| 6560 |
May. 18 2007 |
whether Finance bill has got the assent of President or not? I know it got approval in both houses o –
(DIRECT TAXES)
whether Fance bill has got the assent of Prent or not? I know it got approval both houses of parliament. ' BY: sudhakar Reddy S No answers yet View Answers | Post Answers |
| 6561 |
May. 18 2007 |
new income tax return forms –
(DIRECT TAXES)
Dear friends, I am little confused about the new come tax urn forms. Kdly tell which urn form I should file urn followg cases: 1. A person who is a proprietor of one or more firms as well as a partner partnership firm.If ITR 4, where to show sary and ter from partnership and where to show detais of P&L A,c and Bance Sheet of different proprietorship busesses? 2. Firms covered u,s 44AD,44AE,44AF,44BB or44BBB should file their urns which ITR Form? Kaish Chander ' BY: Kailash Chander Goyal No answers yet View Answers | Post Answers |
| 6562 |
May. 18 2007 |
CENVAT Credit –
(Customs & Excise)
1. One of our clients - a pharmaceutical company - X (p) Ltd - 100 % export - gets the product manufactured by jobworker Raw rials are sent directly to jobworkers premises with voice mentiong X (p) Ltd as the er and jobworker as the consignee. a) Whether the credit of excise duty on the purchases made by X (p) Ltd. can be transferred to the jobworker ? Sce X (p) Ltd. has no excise duty liablity ( beg 100 % export), X (p) Ltd. is transferrg the excise duty credit to the jobworker. To the extent of the excise duty, purchases will be reversed the Xs books - Whether this practice is allowed as per the w ? b) X (p) Ltd. will decre the purchases net of excise duty the VAT urn. Whether this practice is allowed as per the w ? ' BY: Rani Balasubramanyam No answers yet View Answers | Post Answers |
| 6563 |
May. 18 2007 |
Disallownaces u/s 40a(ia) of income tax act 1961 –
(DIRECT TAXES)
Sir i have deduct tds as on 20-03-2007, but deposit the same after 07-04-2007(say 10-4-2007) but before 31-05-2007. whether the such amount shall be allowable as exp or not durg the fancial year 2006-07 ' BY: Mukesh Madan No answers yet View Answers | Post Answers |
| 6553 |
May. 17 2007 |
HOW TO CONSOLIDATE THE FINANCIAL STATEMENT OF A FOREIGN SUBSIDARY COMPANY? –
(INTERNATIONAL BUSINESS)
HOW TO CONVERT THE PROFIT & A,C AND BANCE SHEET OF A FOREIGN SUBSIDARY COMPANY REPORTED FOREIGN CURRENCY TO DIAN CURRENCY FOR CONSOLIDATION WITH a,C OF DIAN HOLDG COMPANY? HOW THE FOREIGHN EXCHANGE ,PROFIT SHOULD BE ACCOUNTED? ' BY: MADHUSUDAN KUMAR PODDAR No answers yet View Answers | Post Answers |
| 6539 |
May. 16 2007 |
Section 80DD –
(DIRECT TAXES)
Can a Wife cim a deduction from her taxable come for the treatment of her mother w { Husbands Mother }, whereby the only earng member the family is the said Wife ? ' BY: NISCHAL RAVINDRA HATHI No answers yet View Answers | Post Answers |
| 6542 |
May. 16 2007 |
Directors' Report on Audit Qualification –
(AUDIT)
If there are certa remarks of Auditors the CARO Report appearg italics,will this be treated as a audit quolification,reservation,adverse comment, neccessitatg reply by the Board the Directors Report terms of Sec 217(3) of the Companies Act,1956.Or is there any view of ICAI that for this purpose only the ma report of audiotrs will be reckoned and not the CARO. ' BY: Prasenjit Guha No answers yet View Answers | Post Answers |
| 6543 |
May. 16 2007 |
FBT on reimbursement –
(FBT)
Is FBT is applicable on reimbursement of travellg expenses durg our Statutory Bank Audit. ' BY: CA. Gurdeep Singh Chawla No answers yet View Answers | Post Answers |
