Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 3651 |
Jul. 26 2006 |
reg due date of filing the return –
(DIRECT TAXES)
Assessee havg capital ga durg the Assessment year 2006-07 . As the due date of filg the urn has been extended to 31st Oct, can the assessee has the time to deposit it capital ga amount, Capital Ga Deposit Account up to 31.10.2006 to avail the benefit under section 54F. ' BY: SUNIL KUMAR AGRAWAL No answers yet View Answers | Post Answers |
| 3652 |
Jul. 26 2006 |
Expenditure incurred on Civil, Land Development & Plumbing works at Car Park –
(AUDIT)
The Company wants to develop a nd to parkg lot. Hence civil work like excavation of nd, fillg of murrum, providg and yg thick rubble, Providg & yg 50mm thk compacted Hot Mix Hot id Bitumous Macadam with asphalt, draage systems, Providg & yg thk compacted Hot Mix Hot id Bitumous Macadam with asphalt contents etc needs to be done. The expected cost of the above work is ly Rs. 15 million. Whether such expenditure can be capitalised, if so as what nd or builg. Treatment for the 2 below mentioned cases:- 1. nd is owned by the Company. 2. The nd is a leasehold nd. ' BY: Ankit Shah No answers yet View Answers | Post Answers |
| 3653 |
Jul. 26 2006 |
Return not filed last year –
(DIRECT TAXES)
Hello, What should we do when one has not filed come tax urn for asssessment year 2005-2006 with form no 16 which shows refund of Rs. 2000,- Is there any penality to that employee if he files that urn along with this year urn ie with A.Y 2006-2007.(That is urn of both the year filed this year) Sumit ' BY: SUMIT AGARWAL No answers yet View Answers | Post Answers |
| 3654 |
Jul. 26 2006 |
TURNOVER EXCEED IN FII & FO rS 40 LACS LIABLE TO TAX AUDIT –
(DIRECT TAXES)
SIR PLEASE TELL ME THAT TOTAL TURNOVER EXCEEDS RS.40 CS THE PURCHASE AND SALE OF SHARES FII & FO. IS LIABLE TO TAX AUDIT U,s 44 AB PLEASE CRIFY REGARDS RAJENDRA GUPTA ' BY: RAJENDRA GUPTA No answers yet View Answers | Post Answers |
| 3655 |
Jul. 26 2006 |
Tax Audit U/s 44AB –
(DIRECT TAXES)
Whether an surance agent, a Mutual Fund adviser and Management consultant will be conred as professional for the purpose of Tax Audit U,s 44AB or they will be treated as carryg our busess. my view the above persons do not come under the purview of the defition of profession given under section 44AB ? ' BY: R.Gupta No answers yet View Answers | Post Answers |
| 3657 |
Jul. 26 2006 |
FEMA QUERRY –
(INTERNATIONAL BUSINESS)
What is avaible route to brg money from U K to dia for vment purpose? ' BY: Ajay Kumar Mittal No answers yet View Answers | Post Answers |
| 3662 |
Jul. 26 2006 |
FRINGE BENEFIT TAX IN CASE OF CO. ENGAGED IN RETAILING BUSINESS –
(DIRECT TAXES)
CASE A CO. IS ENGAGED AILG BUSESS & IS NOT MATAG BOOKS OF A,C , HOW PROVISION OF FBT WILL BE CHARGED. ALSO WHETHER IT WILL BE CHARGED OR NOT. ' BY: MEENAKSHI KAPOOR No answers yet View Answers | Post Answers |
| 3640 |
Jul. 25 2006 |
Form 49A- Details of source to be filled in column 13 (c) for house wife with no income-Whether it can be filled as "NIL" –
(DIRECT TAXES)
I am the first holder of shares and my spouse is a second jot holder of shares a company.For demat purpose, I have to apply for PAN a,c number for my spouse although she is not havg any come. The capital gas on shares is decred my name. For applyg for PAN on behalf of my spouse form 49A, column 13c), can my spouse fill the details of sources of come as NIL. The struction no.13(c) for fillg the details for 49A, states that applicants not covered by column 13(a) and 13(b) the application form should mention anyone or combation of (i) come from house property (ii) come from capital gas (iii) come from other sources , as their source of come. My spouse does not have come from any of these sources. please crify if the source of come can be mentioned as NIL column 13 (c) of application form for allotment of PAN, PAN is taken maly for operatg demat account. ' BY: k v murali No answers yet View Answers | Post Answers |
| 3643 |
Jul. 25 2006 |
treatment of reserve as a result of amalgmation in the nature of merger –
(MISC.)
Can the reserve as a result of amalgmation the nature of merger be used to distribute the dividend or it may be termed as share premium ? ' BY: Rupesh Mishra No answers yet View Answers | Post Answers |
| 3644 |
Jul. 25 2006 |
Stipend Received by an article –
(DIRECT TAXES)
1.A person if dog his article ship a firm and receiveng stipend of Rs. 10 per month. Whether it is taxable or fully exempt or partialy exempt. 2.Will there be any change the answer if a person is employed by an organisation and he is given remuneration the name of Stipend. Under which Head of come it will be taxable. Whether any exemption will be received this case. ' BY: Deepak Agarwal No answers yet View Answers | Post Answers |
| 3645 |
Jul. 25 2006 |
If the assessee is filing salary return for the first time where should he file –
(DIRECT TAXES)
My sister is filg urn for the first time sce this is her first year of employment.She is derivg come from Sary. Mumbai where will her urn be filed.The name of her employer starts from C and is located Mad while her rence is Thane.Will it be Bandra Kur Complex or some other pce. ' BY: Namrata No answers yet View Answers | Post Answers |
| 3647 |
Jul. 25 2006 |
Whether capital gains - long / short term - benefit of Section 54F, –
(DIRECT TAXES)
Client signed deal for ft under construction Jan 04. Payment beg made timely as per agreement. Ft will be ready Sept 06 and is now fetchg a profit. Is this Capital gas? If sold Mar 07, will this be Long term? Will dexation,Section 54 be avaible? ' BY: Ketan C Kamdar No answers yet View Answers | Post Answers |
| 3628 |
Jul. 24 2006 |
DENIAL OF EXEMPTION U/SEC.10A –
(DIRECT TAXES)
I an dian Company is a 100% subsidiary of M a foreign corporated company Mauritious.M is a 100% subsidiary of A an corporated company USA. Durg the previous year r.t. A.Y.2003-04, 100% share holdg company A was acquired by another USA corporated company U. The assessee company I has been cimg exemption u,sec.10A for the past three years and also for the AY 2003-04.Whether the aforesaid circumstances, exemption could be denied to the assessee company I for the AY 2003-04 u,sec.10A(9)? ' BY: Murali No answers yet View Answers | Post Answers |
| 3629 |
Jul. 24 2006 |
Salary deducted in lieu of short notice period –
(DIRECT TAXES)
A person had received sary amountg to Rs 600000 lieu of notice period but Rs 00 is deducted lieu of shorter notice.So ,a person is receivg net sary lieu of notice amountg to rs 500. My quion is whether 00 is allowed as deduction under the head sary and come chargeable under the head saries is 600000 or 500. Pooja gupta ' BY: Pooja gupta No answers yet View Answers | Post Answers |
| 3630 |
Jul. 24 2006 |
Regarding Accounting Software;TALLY –
(MISC.)
Sir, My query is, Whether data from Tally 4.5 can be coverted to Tally 5.4 ? if yes, then What is the procedure? Is there a need of a IT Professional or Simply we can do it. regards Ravi Kumar, Member ' BY: Ravi No answers yet View Answers | Post Answers |
| 3637 |
Jul. 24 2006 |
interest paid for acquiring an capital asset, whether it is an allowable exp. while calculating capital gain –
(DIRECT TAXES)
My client has paid ter to bank for acquirg an capital assets . whether such amount is deductable expenditure while computg the capital ga (both long term & short term). please refer any case w supportg the view. ' BY: pankaj kumar agarwal No answers yet View Answers | Post Answers |
| 3613 |
Jul. 23 2006 |
Assessemnt of AOP –
(DIRECT TAXES)
one club has received notic to file urn. club no soucrec of come expect ter on Savg Bank A,c which is also petty. Only annual fee,contribution received form memebrs and not outr and do expenses. Whther it is assessable as AOP,BOI The come shall be only ter? Whether receipt from member is also cluded come? if yes than whther the expenses done is allowbale (Beacuse not curred to generta such come and it is only utilsation of fund) ' BY: M. Gopal No answers yet View Answers | Post Answers |
| 3618 |
Jul. 23 2006 |
Service tax & CST issues concerning CATERERS & TENT HOUSES –
(Service Tax)
a caterer Delhi has booked a party @ Rs. 800,- per head for persons Gurgaon. Now he charges service tax @ 12.24% on 50% of the billed amount (presumably takg 50% abatement)and CST @ 10% on the full bill value of Rs. 4.00 cs ' BY: Atul Bharadwaj No answers yet View Answers | Post Answers |
| 3603 |
Jul. 22 2006 |
Is Circular No. 652 Dt.14/06/1993 in force. –
(DIRECT TAXES)
CBDT vide its Circur No. 652 Dt.14,06,1993 states that higher depreciation is admissible for motor lorries used assessees busess of transportaion of goods on hire. Is this circur now force. ' BY: M.Vijaya Deepthi No answers yet View Answers | Post Answers |
| 3609 |
Jul. 22 2006 |
Whether Rent paid for the Computer comes under the ambit of Section 194C –
(TDS/TCS)
Dear Friends, i want crification regardg applicability of Section 194C to Computer Rentals one of my client is payg monthly rentals for usage computers? whether the said rentals need to be deducted for TDS under section 194C. my client is tellg that as per Circur No.681, dt.8-3-1994, its not comes under TDS but i gone through the said circur nothg it mentioned abou that hence u kdly tell me whether it is applicable or not Thanks & Regards Chandra Mouli ' BY: p.chandra mouliswara rao No answers yet View Answers | Post Answers |
