Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5987 unanswered question(s) — Showing 4901–4920
| Que. Id | Date | Description |
|---|---|---|
| 3728 |
Jul. 30 2006 |
whether assets acquired can be shown in balance sheet? –
(DIRECT TAXES)
a proprietorship busess has not filed comet tax urns for st 7-8 years as the come was below taxable limit. however he has acquired assets such as nd, shop. if at all his first bance sheet is made for come tax purpose, can the nd, shop acquired be shown the bance sheet? or the bance sheet has to prepared for the current year only? whether the openg capital can be shown to the extent of nd, shop? what are the tax implications? plz. elucidate. ' BY: budha No answers yet View Answers | Post Answers |
| 3713 |
Jul. 29 2006 |
Trading in Share Market –
(Profits & Gains of Business & Profession)
My client has made a profit of Rs. 5,00,000,- for the Asst Yr. 2006-07 from Tradg Share Market.The same is conred as normal busess come. He has made a of Rs. 3,00,000,- for Asst. Yr. 2005-06 from the same busess, but st year it was conred as specutive busess and the same is carried Forward to current year. Now my quion is can he cim C,f. set off from current years profit. If not, how the same (specutive )will be adjusted sce tradg share market is now normal busess? ' BY: Kaushik A. Kansara No answers yet View Answers | Post Answers |
| 3716 |
Jul. 29 2006 |
Exemption from Service tax in case of EOU –
(Service Tax)
EOU are entitled to avail cenvat credit of Service tax paid. case of mg dustries where Service tax is beg paid on excavation, site formation etc., can they cim crdit of service tax beg paid on such mg activities. Likewise whether EOUs are entitled to cim service tax credit on GTA . ' BY: Vivek Banka No answers yet View Answers | Post Answers |
| 3717 |
Jul. 29 2006 |
Criteria for joining articleship –
(MISC.)
Am i BComgraduate and have also cleared 1st GRoup of PE2.Could somebody please let me know when i can jo for ca articleship and whether i have to complete my pe2 for that.I have also completed my 250 hours of complusory computer trag.Also,could you please let me know if the duration of articleship applicable to me will be 3yrs or 3.5 yrs as per the new rules. thank you. ' BY: Laasyaa Chadaga No answers yet View Answers | Post Answers |
| 3719 |
Jul. 29 2006 |
Staff welfare expenditure u/s 115 WB(2) (E) –
(FBT)
Cement Factory it is well Known Practice to provide Gur and musturd Oil to workers to mimise the possiblity of lungs deceses caused to cement dust. However it is not necessary under any w. The quion arises that wheather FBT payable on such Expenses under the sec 115WB(2)(E) i.e. Employee Welfare exp. OR it is clude under the term EXP. CURRED TO MITIGATE OCCUPATIONAL HAZARDS ' BY: vikas Gupta No answers yet View Answers | Post Answers |
| 3691 |
Jul. 28 2006 |
Availability of Excise duty on spares parts consumed under warranty as input for pmt of Service tax –
(Service Tax)
Dear Friends I want to know that can we take put tax credit of excise duty paid on purchase of spares parts which are consumed for providg service under warranty case of a company manufacturg Home Appliances, towards discharge of service tax liability. Presently we are takg the put tak credit of excise. Durg Service tax audit this quion has been raised by the Excise Officials, as per them excise duty paid on spares consumed provg service under warranty cannot be used as imput tax credit and the co. is liable to reverse the put tax credit already taken. thanks Pankaj Garg ' BY: Pankaj Garg No answers yet View Answers | Post Answers |
| 3693 |
Jul. 28 2006 |
Deduction on Housing loan Interest –
(Income From House-Property)
jot holder housg loan account can both the assesse cim deduction of ter amount upto of Rs.1.5 c each case if higher ter figure they paid to bank. ' BY: Ritesh Shankar Gupta No answers yet View Answers | Post Answers |
| 3699 |
Jul. 28 2006 |
Suggest a good Book on Indian and US GAAP –
(MISC.)
Can anyone sugg a good book coverg dian AS and US GAAP preferably by dian Author. thanx ' BY: RAJAT MEHTA No answers yet View Answers | Post Answers |
| 3700 |
Jul. 28 2006 |
3957 –
(INDIRECT TAXES)
Thank u Mr Hiregange for answerg my query. If i may touble the members further my query regardg whether the Software tg services - debuggg of software to another domic software company is covered under ` Engeerg Services is unanswered. ' BY: Sovani J N No answers yet View Answers | Post Answers |
| 3701 |
Jul. 28 2006 |
Business income or Capital Gain –
(DIRECT TAXES)
My client entered to a contract 1997-98 for some nd dealgs with a builder. The builder at that time paid him commission by allotg some fts the construction project. the year 2005-2006, He sold the fts for Rs.15,00,000,-. I want to know how I should treat this come? Whether it is come form busess or capital ga. At the time when he was allotted the fts, He didnt show any come His books. So kdly guide me how I should treat this receipt of Rs.15,00,000,-. ' BY: Animesh Kumar No answers yet View Answers | Post Answers |
| 3705 |
Jul. 28 2006 |
FOREIGN DIRECT INVESTMENT IN INDIAN PRIVATE LIMITED COMPNAY - PROCEDURE REGARDING –
(MISC.)
ONE OF MY CLIENTS HAS PROPOSED TO FORM A PRIVATE LIMITED COMPANY WITH A FOREIGN NATIONAL WITH A CAPITAL VMENT THE RATIO OF 50:50 TEXTILE SECTOR ( EXPORT PURPOSES). PLEASE GUIDE ME REGARDG THE PROCEDURE TO BE FOLLOWED WITH REGARD TO FDI - APPROVAL FROM RBI, ETC. ' BY: R KRISHNA KUMAR No answers yet View Answers | Post Answers |
| 3706 |
Jul. 28 2006 |
New rates of Stipend payable to Articled Clerks –
(MISC.)
Whether Notification No 1-CA(7),84,2005 dated 6.6.2006 regardd payment of Stipend at new rates have become effective. If yes from which date. ' BY: Vikas Gupta No answers yet View Answers | Post Answers |
| 3670 |
Jul. 27 2006 |
Sec 32(IIa)-Addl. Depreciation on CNC Job work undertaking machines –
(DIRECT TAXES)
Sec 32(iia), is avaible for new maches engaged the busess of manufacture or production of article. Whether CNC imported new mache purchases from korea for Rs. 40 khs, used for maly undertakg Job works of automobile components, enjoy the benefit of 32(iia) addl. dep. The date of purchase is 01,03,2006. ' BY: R. PADMANABHAN No answers yet View Answers | Post Answers |
| 3673 |
Jul. 27 2006 |
Forex Allowances –
(DIRECT TAXES)
Are subsistence allowances received foreign currency (to meet expenses durg short trips to abroad) of rent dian taxable ? If the person makes some savgs of the money paid to him and converts to R- will the money so conveted is taxable. ' BY: Vivek Rajagopalan No answers yet View Answers | Post Answers |
| 3675 |
Jul. 27 2006 |
Applicability of Service Tax to Domestic Software Testing Services –
(INDIRECT TAXES)
Whether Software tg activity - debuggg of software for other dian software company , is carried by the dian company whether it will be a taxable service under Service Tax. If yes under which category. I understand that software under preparation is not goods even after the decision supreme court case of TCS, therefore it may not be covered under nance & Repairs category or Tg & Analysys category. Whether it will be covered under Consultg Engeerg category ? ' BY: Sovani J N No answers yet View Answers | Post Answers |
| 3676 |
Jul. 27 2006 |
Impairment of investment: Deduction from incoe regarding –
(INDIRECT TAXES)
While computg the taxable come, whether any vment made deposits with a company, the name of the busess, from busess funds,can be cimed as bad by writg off books of account, the event the deposit becomes unrealisable, due to the comany which ved, beg under liquidation? come earned on such deposits durg earlier periods was offered as busess come and taxed as such the relevant years. A part of the unrealisable deposit also represents the ter earned and reved. ' BY: ATUL KUMAR DAVEY No answers yet View Answers | Post Answers |
| 3680 |
Jul. 27 2006 |
271B PENALTY –
(DIRECT TAXES)
IS THERE ANY TIME LIMIT FOR THE LEVY OF PENALY U,S.271B FOR NON FILG OF TAX AUDIT ' BY: T.KRISHNAN No answers yet View Answers | Post Answers |
| 3681 |
Jul. 27 2006 |
Applicability of Cap Gains on Share Trading –
(DIRECT TAXES)
A client web trades every day from his house and the total turnover scrips for FY 2005-06 is Rs.90 khs. He exclusively deals scrips and has no other come and makes a profit of Rs.3.00 khs. Whether the gas are to be taxed as profit from Busess or Profession or under Short Term Cap GAs. ' BY: L Sridhar No answers yet View Answers | Post Answers |
| 3682 |
Jul. 27 2006 |
PURCHASE OF RESIDENTIAL PROPERTY BY FOREIGN NATIONALS –
(MISC.)
Sir, Can a foreign national , a UK passport holder, rential property usg funds he earned UK. If so how does the person transfer the money required? The foreign national tends to seek a job here and stay dia because of personal ter dia. Somebody has adied the person to have a company set up here and then v property. Is it legally correct. Regards Joy ' BY: JOY No answers yet View Answers | Post Answers |
| 3686 |
Jul. 27 2006 |
Depreciation - Land & Building –
(DIRECT TAXES)
A club purchased an old buildg where it was occupyg as a tenant, some 6 years back for 20 khs. Actually the amount paid is for the cost of the nd rather than the old buidg But Buidg account was debited with full value and depreciated accordgly. Now they are pnng to demolish and reconstruct new buildg. If the buildg is demolished, the book value is about 16, khs, how to account the same the books. Mohamed Shafi mashafica@yahoo.co. ' BY: Mohamed Shafi No answers yet View Answers | Post Answers |
