Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 6133 |
Apr. 02 2007 |
PARTNERSHIP FIRM DISSOLUTION –
(DIRECT TAXES)
PARTNERSHIP FIRM HAVG TWO PARTNERS . BOTH FAMILY MEMBERS FATHER AND SON . NOW DUE TO OLD AGE FATHER DONT WANT TO CARRY AND SON WILL CARRY THE BUSESS AFTER DISSOLUTION .AS PER SEC. 45 (4) COME TAX ACT ALL THE ASSETS SHOULD BE VALUED AT MARKET PRICE TO DETERME CAPITAL GA . THIS CASE SON IS CARRG ON THE BUSESS AND NO ASSET IS TO BE TRANSFERED TO ANY ONE ELSE . TO AVOID SUCH HUGE TAXATION THERE ARE SOME JUDGEMENTS PLEASE PROVIDE ME FOR THIS CASE . ' BY: utkarsh mehta No answers yet View Answers | Post Answers |
| 6120 |
Apr. 01 2007 |
Tax Treatment in case of Salary Income from out of India –
(DIRECT TAXES)
I would like to know the come tax treatment the followg situation and what would be the tax managment this case. One of my friend (employee) who has been hired by a person (Employer) who is USA. Employee is workg from home and he is alone dia from their . Employer is remittg amount through bank every month. Now this case how could tax saved and what kd of certificate is required from Employer. Sce employee is dia and his pce of workg is dia. Employer is out of dia. What would be the b way to manage tax liability this situation. ' BY: Rajneesh Singhvi No answers yet View Answers | Post Answers |
| 6112 |
Mar. 31 2007 |
issue of c form –
(INDIRECT TAXES)
what are the time limit for issue of c form when goods purchased ter state purchase ' BY: chetan kumar jain No answers yet View Answers | Post Answers |
| 6116 |
Mar. 31 2007 |
What is the tax treatment of income from trading in futures & options? –
(DIRECT TAXES)
A technology Company is tradg futures and options. How will the come arisg therefrom be treated? ' BY: Alakananda Gupta No answers yet View Answers | Post Answers |
| 6117 |
Mar. 31 2007 |
Export of Service –
(Service Tax)
A trader receivg commission from a company UK for givg reference of the client dia. Other conditions i.e. receivg of commission CFC is satisfied. If the commission so received would attract service tax? My contention is that if such reference would not have been given the trader UK would not have recived the from dian Client. Service is given to the trader UK for his busess UK though he has supplied the goods dia that doesnt mean that service is rendered dia. Your opion? ' BY: ULLHAS GOVINDLAL MANDHANE No answers yet View Answers | Post Answers |
| 6099 |
Mar. 30 2007 |
FBT ON REIMBURSEMENT –
(DIRECT TAXES)
A company is reimbursg Rs.1000,expenses curred by its employee towards Cell phone bill.Whether the company has to pay FBT on Such reimbursement?Is this amt. rs.1000 cludible the employees taxable come? ' BY: Balasubramanian No answers yet View Answers | Post Answers |
| 6101 |
Mar. 30 2007 |
Discontinance of business –
(DIRECT TAXES)
Dear All, Under come tax Act, is it ncessary to give notice of discontuance of busess to Assessg Officer respect of proprietory busees, if yes what form. Thanks & Regards ' BY: Ajay Bhalchandra Salagare No answers yet View Answers | Post Answers |
| 6103 |
Mar. 30 2007 |
Meger and acquisation –
(CORPORATE & OTHER LAWS)
sir, I want to know merger guideles. What is the procedure for dog merger of one private ltd. co. to bse listed co.? ' BY: shital parikh No answers yet View Answers | Post Answers |
| 6104 |
Mar. 30 2007 |
Gift of Equipment –
(DIRECT TAXES)
My sister w who was an NRI stayg US, has made a gift the followg way: By profession i was a doctor, and i ed medical equipment from Germany for which she paid thru her(NRI) credit card. she swiped the card on 29th March2007 for which she has sent the card slip.( real terms she has given me a cash gift) Will this transaction be charged to any gift tax or come-tax the hands either myself or my sister w. ? Will this purchase falls to the Accountg year 2006-07 and i can cim depreciation on that ? ' BY: Mutyam No answers yet View Answers | Post Answers |
| 6106 |
Mar. 30 2007 |
DEPRECIATION ON FIXED ASSETS- PARTLY PAID BY THE BANK –
(AUDIT)
BANK BRANCH HAD PURCHASED FIXED ASSETS AND AS PER THE TERMS OF PAYMENT ONLY 75% AMOUNT HAD BEEN PAID AND REMAG 25% HAD TO BE PAID AFTER SIX MONTHS. THE MEAN TIME FANCIAL COMES TO AN END AND NOW DEPRECIATION HAD TO BE CHARGED FOR THE YEAR. BUT THE IMPORTANT QUION HERE IS WHETHER DEPRECIATION WOULD BE CHARGED ON FULL AMOUNT OF ASSETS OR ONLY TO THE EXTENT OF AMOUNT PAID ON PURCHASE. GIVE SUITABLE REFERENCE. REGARDS - SURAJ CHOUDHURY - scktr@rediffmail.com ' BY: SURAJ KUMAR CHOUDHURY No answers yet View Answers | Post Answers |
| 6107 |
Mar. 30 2007 |
NRI INVESTING IN INDIA –
(FINANCIAL MANAGEMENT)
A non rent dian want to v his money earned abroad dian capital market dia.What should be the appropriate course of action particurly from the taxation & FEMA pot of view. ' BY: HARENDRA KUMAR TRIPATHI No answers yet View Answers | Post Answers |
| 6090 |
Mar. 29 2007 |
Jurisdiction –
(DIRECT TAXES)
A company havg registeered with the ROC TamilNadu, PAN the Tamilnadu address, Adm and Corporate office Karnataka. Whether the PAN address & the come tax assessments can be changed from tamilnadu to Karnataka. If yes, kdly advice on the formalities. ' BY: naveenkumar No answers yet View Answers | Post Answers |
| 6093 |
Mar. 29 2007 |
Property of individual used by a company –
(Income From House-Property)
Respected colleagues, I am an dividual and i am a director as well as holdg 49% of shares of a company. I own one propery, which is given for use to company without chargg rent. As per section 22 of the come Tax Act, 1922 the annual value of property is not to be conred if the property is used by the owner for the purpose of any busess or profession carried on by him, the profits of which are chargeable to come-tax. My queries are: (1) Whether commercial properties can be brought to tax as come from house property? (2) Whether notional rent for the property given to the company for its use can be treated as come u,s 22? (3) Whether it can be argued that property used by a company can be treated as used by an dividual for busess carried on by him? From many judicial pronpuncements (eg. 180 ITR 191, 145 Taxman 522), it is clear that the property of an dividual used by a firm which he is a partner can be treated as used for busess carried on by him. (4) Whether any other alternatives are avaible so that the notional rent of the propert used by company cannot be brought to tax u,s 22? Expectg your valuable suggions on above queries as early as possible. ' BY: CA. Ankur Shah No answers yet View Answers | Post Answers |
| 6078 |
Mar. 27 2007 |
about housing loan –
(DIRECT TAXES)
Property loan taken the name of Mr X Mr X married to mrs X durg the fancial year ended 2007. EMI paid by Mrs X by transferrg cash to Mr X. Can Mrs X take deduction under section 24 of the ter component and deduction of prcipal repayment under section 80C and to what extent. ' BY: Ankur Kapil No answers yet View Answers | Post Answers |
| 6082 |
Mar. 27 2007 |
RAJ VAT –
(VAT/Sales Tax)
DEAR FRS RAJ VAT IF A DEALER SOME ITEM AT 10% VAT WITH THE STATE AND AFTER SOME VALUE ADDITION THIS PRODUCT BECOME TAX FREE . I WANT TO KNOW THAT STILL THE DEALER CAN GET REFUND ON THE PUT TAX WHICH HE PAID @ 10% ON PURCHASE AT THE TIME OF SALE OF SUCH PRODUCT OR TAX FREE SALE NOT ELEGIBLE FOR REFUND OR ADJUSTMENT ' BY: nitin jain No answers yet View Answers | Post Answers |
| 6067 |
Mar. 26 2007 |
bank audit –
(MISC.)
allotment of bank branch audit 2007-08 ' BY: JAI KUMAR PANDYA No answers yet View Answers | Post Answers |
| 6070 |
Mar. 26 2007 |
CENVAT credit on purchases for office use –
(Service Tax)
If company purchases assess for office use (e.g. Chairs), can company cim excise duty paid on such purchases? under which head - put , capital good? ' BY: Jui Yogesh Hathi No answers yet View Answers | Post Answers |
| 6065 |
Mar. 25 2007 |
Service Tax on tour operator –
(Service Tax)
A tour operator is conductg package foreign tour . He collects Rs.60,000.00 per pax for the tour. Out of this he gives back Rs.30,000 to each pax foreg exchange for meetg the expenditures abroad .All bookg arrangment abroad has been made by the tour operator . Is the service amounts to export of service ? If taxable dia, can the amount of Rs.30,000 given back to each pax foreign exchange is deductible from the value of serices ? CA Unnikrishnan N ' BY: Unnikrishnan N No answers yet View Answers | Post Answers |
| 6054 |
Mar. 24 2007 |
Allotment List of Branch Audits of Nationalised Banks for 2006-07 –
(AUDIT)
Many members of the stitute are still the dark as to whether they have been allotted any Banks for the audit for 2006-07. The stitutes website has washed its hands of the matter by statg that RBI is gog to host the list on their website by 31st March, 2007. The PDC secariat has also pleaded ignorance about the matter. Some big Banks have already approched their respective auditors over the phone. The members, all should admit, are a terribly busy tribe durg this part of the year. They must be given adequate time to pn their audit programmes for the Banks. If any firm or member happens to be allotted any Bank and comes to know about it the first week of April, they will be under tremendous pressure to fish the audit with a span of two to three days. How can they be expected to do justice to their work under such conditions? ' BY: Kanchan Sengupta No answers yet View Answers | Post Answers |
| 6055 |
Mar. 24 2007 |
FBT –
(Income From Salary)
The company is payg rent to the owner of a house, which one of the employee is residg. The contract is the name of the company. Will it attract FBT or the rent will be cluded the sary of that employee??? ' BY: Gaurang No answers yet View Answers | Post Answers |
