Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 3908 |
Aug. 15 2006 |
Form 2F Whether mandatory or Not ? –
(DIRECT TAXES)
Hello, Whether Form 2F is mandatory for fillg of urn of come Tax after 1st August, 2006? If not, please give us the notification number or copy of notification. Thanks and regards, JK Patel ' BY: Jitendra Kumar Patel No answers yet View Answers | Post Answers |
| 3909 |
Aug. 15 2006 |
Liability of payment of service tax under goods tranport agency(GTA) –
(INDIRECT TAXES)
If a dividual(consignor & non - specified person) transports goods to a company(consignee) and as per terms dividual(consignor) is to borne freight, who would be liable to pay service tax,sce dividual(consignor) is not speicfied person but liability is upon consignor or consignee whoever pays freight ? Or it will be GTA though company is specified person(sce GTA is liable only when none of them is specified person) person) ' BY: Santosh gogave No answers yet View Answers | Post Answers |
| 3902 |
Aug. 14 2006 |
Set off of Long Term Capital Loss –
(DIRECT TAXES)
An assessee had curred Long Term Capital durg AY 99-00. He filed his urn of time and cimed carry forward of LTC , which was allowed by Assessg Officer. He earned Short Term Capital Ga durg AY 04-05. The brought forward LTC was adjusted agast the STC Ga durg AY 04-05 and tax was paid on the remag STC Ga. The AO tends to deny the setoff of brought forward LTC agast STC Ga on the ground that effective from 1.4.2003, such set off is not permissible vide amended Sec.74[1] of come Tax Act, 1961. A perusal of the amended Sec.74[1] states that from 1.4.2003,the LTC has to be set off agast LTC Ga only. The words used 74[1][a] is ...such , which means LTC referred 74[1]. Does it imply that this amended provision would be applicable to brought forward LTC es too or this rriction is applicable for LTC es curred from AY 03-04 onwards ? CA.KISHORE ' BY: KISHORE KUMAR S. No answers yet View Answers | Post Answers |
| 3904 |
Aug. 14 2006 |
Form 3CD –
(DIRECT TAXES)
Is it necessary that form 3CD should also be signed by the assessee? For a safer is it preferable? ' BY: vineet agrawal No answers yet View Answers | Post Answers |
| 3905 |
Aug. 14 2006 |
service tax on raising contract –
(Service Tax)
assessee is a iron ore mer. He wants to appot a person for raisg of iron ore. the contractor will be volved a process of bstg the rial the me, g and sortg the ore, muckg, transportation of the ore from the me to the crusher. My query is whether the me owner liable to pay service tax to the contractor, if so under which head at what rate. ' BY: avinash chirania No answers yet View Answers | Post Answers |
| 3898 |
Aug. 13 2006 |
Service tax on bank charges –
(INDIRECT TAXES)
The assessee is currg L,s discountg charges, DD commission etc, for which the bank collects service tax but does not issue any documentary proof, is the assessee entiltled to cim the service tax credit on the same, the assess has bank vouchers to support his cim, but the cvouchers does not bifurcate the bank charges to their charges and the service tax component. Please crify. ' BY: Radhakrishna Tantry No answers yet View Answers | Post Answers |
| 3901 |
Aug. 13 2006 |
Partnership with others –
(COUNCIL DECISION)
Under cuse 4 of part 1 , schedule 1 of CA Act there is reference of 1. A person who but for his rence abroad would be entitled to be entered the register of members and 2. Whos qualification is recognised by council,central govt. for the purpose of permittg such partnership. Can u please exp exact meang of 1st and 2nd above and tell me whether at present there is any such recognised bodies. ' BY: Amit Bansal No answers yet View Answers | Post Answers |
| 3893 |
Aug. 12 2006 |
Whether Gift received from brother"s son is taxable u/s 56 of I.T.Act? –
(DIRECT TAXES)
ASSESSEE IS A DY RESIDG DIA.SHE HAD RECEIVED A GIFT OF RS. 11,00,000 FROM HER BROTHERS SON RESIDG HONG KONG.WHETHER THE SAID GIFT AMOUNTS TO GIFT RECEIVED FROM LEAL ASCENDANT OR DESCENDANT OF THE DIVIDUAL AS SUCH EXEMPT U,S 56 OF I. T.ACT ? ' BY: U.S.TANWAR No answers yet View Answers | Post Answers |
| 3895 |
Aug. 12 2006 |
are their any legal formalities needed to be complied for inviting application and alloting shares t –
(CORPORATE & OTHER LAWS)
A PRIVATE LIMITED COMPANY DIA IS VITG APPLICATION MONEY FROM FOREIGN NATIONAL AND TE ON SHARES WILL BE ALLOTED TO HIM . DO ANY FORMALITIES ARE REQUIRED TO BE COMPLIED WITH PRIOR TO ACCEPTANCE OF APPLICATION MONEY OR AFTERWARD UNDER THE FOLLOWG ACTS: COMPANIES ACT RBI ACT & REGUTION FEMA ACT. ' BY: ASHWINI NAGAR No answers yet View Answers | Post Answers |
| 3896 |
Aug. 12 2006 |
Potfolio managment –
(FINANCIAL MANAGEMENT)
What are the type of charts avaible for analysg the perfoemance of a portfolio? ' BY: Thomas Verghese No answers yet View Answers | Post Answers |
| 3878 |
Aug. 11 2006 |
"DIRECTOR" AS DESIGNATION –
(CORPORATE & OTHER LAWS)
Can a company [public or private] appot a person and give him a designation as Technial or Fance Director, but the person is not a member of board , committee of director, and consequentially Form-32 not filed with ROC? If yes, then when the person represents himself as such a director to a third party, is he not misrepresentg himself as for as the third party is concerned? Please crify urgently. sivaraman v ' BY: Sivaraman V No answers yet View Answers | Post Answers |
| 3880 |
Aug. 11 2006 |
1)Issue of Shares 2)Sweat Equity Shares –
(CORPORATE & OTHER LAWS)
1)Can a company issue shares at par as well as at premium at the same time? 2)Sce Sweat equity shares can be issued only after one year from the date on which the company is entitled to commence busess,is there any means by which the promoters can ensure that they would be issued the same after one year? ' BY: Linta Mariam abraham No answers yet View Answers | Post Answers |
| 3866 |
Aug. 10 2006 |
Disclosure of interest on shortfall in payment of advance income-tax –
(DIRECT TAXES)
How to disclose the ter on shortfall payment of advance come-tax the annual fancial statements? Can it be clubbed along with provision for taxation or separate disclosure is required? if yes how to present the same? ' BY: RAMAN R No answers yet View Answers | Post Answers |
| 3871 |
Aug. 10 2006 |
TDS on Exhibition Expenses –
(DIRECT TAXES)
Assessee make payment of Exhibition Charges for Space, stall and other facility to Gem and Jewellery Exprort Promotion Council. The Asseessee dispy its goods on the stall allotted by the Council and charge amount based on the area and other facility. Is any T D S is applicalbe u,s 194 C . The recent ammendment 194 I nd and other area also cluded for the purpose of rent on which T D S is to be deducted is the above expenditure is attracted for TDS u,s 194 I after the ammendment? Regards R K Dhandia ' BY: rkdhandia No answers yet View Answers | Post Answers |
| 3851 |
Aug. 09 2006 |
TDS APPLICABILITY U/S 194C –
(DIRECT TAXES)
Dear sirs, A Private Ltd. Company has raised A purchase agast purchase of uniform for employees and staff member of the company. The uniform is made accordg to the specifications of the company such as colour of dress, quantity of rial, Company Logo etc. The Company has shown these expenses as purchase of Ready made garments. Does these Expenses attract sec 194 C Payment to the contractors. What are the dustry practices respect of these expenses – on the light of TDS applicability and also about simir expenses ion to shoes, gloves, etc. If any one can help me to resolve this issue, I would be greatly obliged. Please specify the source of the opion. Thankg you, ' BY: Vikas Shankarlal Dhanuka No answers yet View Answers | Post Answers |
| 3855 |
Aug. 09 2006 |
Service tax on Composite contract including material for execution which cannot be split –
(Service Tax)
Whether service tax is payable on total contract price of any work where it volves value of some rials also to be used by the contractor for execution of the job. ' BY: amit pareek No answers yet View Answers | Post Answers |
| 3856 |
Aug. 09 2006 |
LIABILITY TO PAY SERVICE TAX –
(Service Tax)
Sir Kdly tell me, if an Organisation is not payg the service tax to the contractor then whether that case also the contractor is required to pay service tax from his own pocket. ' BY: Sumit Aggarwal No answers yet View Answers | Post Answers |
| 3857 |
Aug. 09 2006 |
LIABILITY TO PAY SERVICE TAX –
(Service Tax)
Sir I want to know the followg: 1). Case the employer is not payg service tax to the service provider, then whether that case also the service provider is required to pay service tax. 2). If the employer is not reimbursg the amount of service tax after the service tax is deposited by the service provider, then whether that case service provider has any option to proceed agast the employer. 3) If the employer is not payg service tax at all to the service provider, then what are the remedies avaible to the service provider to discharge from his duty to pay service tax which he has actually not received. 4).Whether the service tax is required to be deposited by the service provider on receipt basis or accrual basis. 5).What action can a service provider take, if the other service providers providg the same service are not chargg service tax from their clients. Sir, It is requed to kdly give me answer to all these quions seperately and ' BY: Sumit Aggarwal No answers yet View Answers | Post Answers |
| 3858 |
Aug. 09 2006 |
tds on weaving charges –
(DIRECT TAXES)
MY CLIENT IS A HANDLOOM FABRIC MANUFACTURER.HE IS AN DIVIDUAL LIABLE TO AUDIT U,S44AB. HE PAYS WEAVG CHARGES TO WEAVERS EACH EXCEEDG RS.00, PER YEAR.WHETHER HE IS ATTRACTED SECTION 194C AND THEREFORE TO DEDUCT 2%TDS. MY CLIENT IS NOT A SUB CONTRACTER. AS PER THE READG OF 194C, TDS IS APPLICABLE ONLY FOR PAYMENT TO SUB-CONTRACTORS. SCE MY CLIENT A MANUFACTURER AND WEAVG CHARGES PAID TO THE CONTRACTOR I.E. WEAVER, AND NOT OT SUB CONTRACTOR, MY VIEW IS HE IS NOT LIABLE TO TDS. PLEASE ENLIGHT THIS MATTER DHANABAL ' BY: C.DHANABAL No answers yet View Answers | Post Answers |
| 3859 |
Aug. 09 2006 |
TDS ON COMMISSION TO CANADA RESIDENT –
(DIRECT TAXES)
MY CLIENT HAS PAID COMMISSION OF $3000 DOLLERS TO A PERSON CANADA FROM DIA FOR PROCURG S FOR FABRIC TO SRINKA.GOODS WERE EXPORTED. WHETHER MY CLIENT BEG DIA IS LIABLE TO DEDUCT TAX ON COMMISSION PAID TO THE PERSON CANADA. APPLICABILITY OF SECTION 194H PLEASE GUIDE US DHANABAL ' BY: C.DHANABAL No answers yet View Answers | Post Answers |
