Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 5585 |
Feb. 05 2007 |
Submission of income tax return by post –
(DIRECT TAXES)
What is the due date of filg of IT urn of dividuals (whose accounts are not required to be audited by any w) by post ' BY: Vijay Kumar Bhutra No answers yet View Answers | Post Answers |
| 5588 |
Feb. 05 2007 |
TDS deduction on Foreign Companies –
(DIRECT TAXES)
If a bill is received from an dian branch office of a foreign company, whether TDS is deducted at local rates or under sec 195? The company is not corporated dia and the payment is sent to the branch office dia. The payment is made the name of _____ PTE LTD which is basically a sgapore based company, havg a branch office here. ' BY: sathvik nishanth No answers yet View Answers | Post Answers |
| 5572 |
Feb. 03 2007 |
CVD –
(INDIRECT TAXES)
One dian Company import one goods from Germany to sale the goods to one reaserch stitute recognised by the dian Govt.Is there any exemtion of exercise duty on import as CVD for the dian Imported Company ? kdly answer me. ' BY: Pradyut Meyur No answers yet View Answers | Post Answers |
| 5552 |
Feb. 02 2007 |
How to bring the Foreign Currency to India out of the sales proceeds made at the trade and other fai –
(CORPORATE & OTHER LAWS)
Hi, One of my client is pnng to participate various trade fairs held some European Countries. Some of the sales may be Euro and some through cheques. How to brg the sales procees to dia. ' BY: Subrat Mohanty No answers yet View Answers | Post Answers |
| 5554 |
Feb. 02 2007 |
sales tax & Service tax –
(INDIRECT TAXES)
Can there be any case which Hotel dustry apllies both The Sales tax as well as service tax on the service rendered . Eg. Sellg food & Beverage for Rs. 100 thereby applyg Service tax of Rs.12 and Sales tax of Rs. 10 thereby chargg Rs. 122(100+12+10) from the customer? ' BY: Ashu Khanna No answers yet View Answers | Post Answers |
| 5559 |
Feb. 02 2007 |
Capitalisation of Software –
(AUDIT)
If a software, say SAP or ORACLE is purchased for a company engaged tours & travells, will it be an tangible asset or fixed asset or will it be expensed off ? ' BY: Rozi Gupta No answers yet View Answers | Post Answers |
| 5564 |
Feb. 02 2007 |
Export to China –
(INDIRECT TAXES)
An assessee wants to export machery to Cha. The machery exported is Noise Qualification System for low amptitude Contactor Noise Measurement. What is the procedure to be followed for export to cha? Are there any rrictions? What is the cssification under which the machery falls under the Customs Act? What are the benefits avaible to the assessee? ' BY: CA. Raghupathy K.A. No answers yet View Answers | Post Answers |
| 5565 |
Feb. 02 2007 |
SALARY GIVEN TO PARTNER WHEN THE AMOUNT NOT SPECIFICALLY PROVIDED IN THE PARTNERSHIP DEED –
(DIRECT TAXES)
MY CLIENT HAS PARTNERSHIP FIRM. THEY ARE TWO PARTNERS AND THEY HAD GIVEN A SALRY OF RS. 24000,- EACH PARTNER I.E 48000,- DURG THE FANCIAL YEAR 2004-2005. HOWEVER PARTNERSHIP DEED SARY AMOUNT IS NOT SPECIFICALLY MENTIONED. THEY HAVE GIVEN A GENERAL CALUSE THAT THE BUSESS OF THE FIRM SHAL BE MANAGED AND SUPERVISED THE B TER OF THE FIRM BY ALL OR EITHER OF THE PARTNERS AND THEY SHALL BE ENTITLED TO TAKE SARY OR REMNERATION FOR THEIR ACTIVE VOLVEMENT THE BUSESS. THE ACTIVE PARTIES SHALL BE ENTITLED TO TAKE REMUNERATION AS MUTULLY DECIDED BY BOTH THE PARTNERS. IT HAS ALSO AGREED THAT SUCH SARY,REMUNERATION COMPUTED ABOVE SHALL BE CREDITED THE RESPECTIVE CAPITAL ACCOUNTS OF THE PARTNERS ON 31 ST DAY OF THE MARCH EVERY FANCIAL YEAR. NOW THE ITO DESIRES TO DISALLOWED AMOUNT OF RS. 48000,- AS SARY GIVEN TO PARTNERS DUE TO THE REASON THAT THE AMOUNT IS NOT SPECIFICAALY PROVIDED THE PARTNERSHIP DEED. KDLY QUOTE ANY CASE W OR OUR REPLY TO THE ASSESSG AUTHORITIES THIS REGARD. ' BY: AJAY KUMAR No answers yet View Answers | Post Answers |
| 5538 |
Feb. 01 2007 |
FBT on Salary –
(FBT)
Is sary paid to car drivers is liable for FBT. ' BY: CA. Gurdeep Singh Chawla No answers yet View Answers | Post Answers |
| 5539 |
Feb. 01 2007 |
VAT on Building –
(VAT/Sales Tax)
Whether VAT paid on Factory Buildg items (Cement, Iron etc - debited WIP)is eligible for Set-off agast VAT liability. ' BY: CA. Gurdeep Singh Chawla No answers yet View Answers | Post Answers |
| 5544 |
Feb. 01 2007 |
Cenvat credit in respecy of Additional Duty of Custom U/s 3(5) of CTA, 1975 –
(Customs & Excise)
How much credit i.e. 50% or 100% is allowed as Cenvat credit respect of Additional Duty of Custom paid U,s 3(5) of Custom Tariff Act, 1975 for Capital Goods imported the year of receipt of Capital Goods. Any legal reference? ' BY: NIRDOSH KUMAR No answers yet View Answers | Post Answers |
| 5548 |
Feb. 01 2007 |
How will the income from derivative market will be treated particularly from F & O –
(DIRECT TAXES)
I want to know whether the come from F & will be taxed at 10% as case of short term capital ga? ' BY: Vijay Kumar Bhutra No answers yet View Answers | Post Answers |
| 5534 |
Jan. 31 2007 |
HRA –
(DIRECT TAXES)
Hi, I have a Doubt regardg HRA: If previous employer not conred HRA for not submission of Rental receipts of an employee, then present employer can conr the same with rospective effect from April. ' BY: sivaram k No answers yet View Answers | Post Answers |
| 5535 |
Jan. 31 2007 |
Formation of partnership –
(MISC.)
if the deed of partnership is made say on 1.1.07 and same is stamped(frankg) on the same day what is the flexibility so far as date of effective of firm is concern i.e. rropectively and prospectively ' BY: Jay No answers yet View Answers | Post Answers |
| 5536 |
Jan. 31 2007 |
H.U.F. CREATION –
(DIRECT TAXES)
For creation of H.U.F., whether there is requirement of Children? i.e. Only husband and wife can create H.U.F. ' BY: Nishant parekh No answers yet View Answers | Post Answers |
| 5523 |
Jan. 30 2007 |
STIPEND TO ARTICLE TRAINEES –
(MISC.)
Rates of stipend given amended regution 48 and articles registration form are contradictory.As per amended regution 48,stipend is to be given Rs.450,- the first year ( cities above 20 cs poputions) to tranees who has not completed PE-ll and computer trag(now equal to PCC) or CPT passesd but as per registration form it would be payble Rs.1000,-to all tranee irrespective of whether he completed pcc or cpt .please crify . ' BY: DINESH JAIN No answers yet View Answers | Post Answers |
| 5526 |
Jan. 30 2007 |
Fradulant Business was carring by the Client.... –
(AUDIT)
If a auditor cames to know about that companys fraud... The fraud was, Company is collectg money from public by showg various schemes. But actually it was not practical to meet that scheme and the same thg was analysed by the auditor and came to know the Company is gog to cheat public. It was known at the time of audit report. But CARO to report on fraud of sales and assets only. this situation auditor where it has to mention? Seperate report? Sec?.....??? ' BY: K. Krishna Sagar No answers yet View Answers | Post Answers |
| 5527 |
Jan. 30 2007 |
Tax Audit Ceiling? –
(DIRECT TAXES)
Is there any ceilg on tax audits to an auditor? ' BY: K. Krishna Sagar No answers yet View Answers | Post Answers |
| 5514 |
Jan. 29 2007 |
Deduction Problem? –
(DIRECT TAXES)
There are certa types of donations u,s 80G which are subjected to Adjusted Gross Total come and quantum of deduction u,s 80GG is also subjected to mimum of followg amounts: 1.Excess of rent paid over 10% of Adjusted Gross Total come 2.2% of Adjusted Gross Total come 3.Rs.2000 p.m. Under above both sections Adjusted Gross Total come is used which itself means all deductions permissible u,ss 80C to 80U exceptg deuctions under that section (i.e S80G or S80GG, as the case may be). I want to know that a quion if both these deductions are required,then how a solution can be made. ' BY: Amit G. Chandani No answers yet View Answers | Post Answers |
| 5518 |
Jan. 29 2007 |
Interest paid through LC –
(TDS/TCS)
We are g RM on credit (IBC) from Big dian Companies under LC. On due date, we remit through bank, as LC payment, prcipal amount as well as ter for credit period, to the supplier. The supplier dont raise voice or Debit Advice for the ter but add the amount the Bill of Exchange. We understand that TDS is applicable on ter under section 194A but the supplier dont agree to that. We want to know whether the supplier is correct. Will the answer vary if supplier has arrangement with his banker where he gets his voice payment from his bank on day one through discountg the documents and on due date, his bank appropriates the entire amount remitted by us, agast the discountg. The supplier cims that he is not bookg ter come hence TDS u,s 194A is not applicable. ' BY: Gopal Garg No answers yet View Answers | Post Answers |
