Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 3098 |
Jun. 15 2006 |
Applicability of service tax to CMS arrangements –
(Service Tax)
As per cuse(12)(v) of the Service Tax Act, bankg and other fancial services cludes- Asset management cludg portfolio management, all forms of fund management, pension fund management, custodial depository and trust services, but does not clude cash management Banks render CMS arrangements to corporates,mutual funds etc. volvg collection of cheques at various locations accross the country and remittance of the collected amount at a central location as desired by the client.Service tax is beg levied on the fees charged for this arrangement.However as noted the above cuse 12(V) CMS seems to be euded from the service tax net.Are the banks right chargg the service tax such a scenario. ' BY: DHANASHREE No answers yet View Answers | Post Answers |
| 3073 |
Jun. 14 2006 |
PAN card –
(DIRECT TAXES)
If a PAN card dispatched but not collected ,what procedure should be followed for gettg back aga. I have already downloaded PAN NO.from ternet. ' BY: GOVIND NARAYAN SRIVASTAVA No answers yet View Answers | Post Answers |
| 3074 |
Jun. 14 2006 |
Service Tax on DSC"S issued under MCA 21. –
(Service Tax)
Hello friends My quion is that should Service Tax be levied on the Digital Signature Certificate(DSC) issued under the MCA21 itiative of the Deptt. of Co. affairs. My client is one of the Registered Authorities of TCS authorised to issue the DSC along with the USB token(like PEN Drive). Now it is clear that sale tax is levied on the USB portion. BUT AS THE DSC IS DOWNLOADED FROM THE LK SENT BY THE TCS DIRECTLY VIA E-MAIL.SO SHOULD THER BE ANY SERVICE TAX IMPLICATIONS ON THIS DSC SO DOWNLOADED. Please Crify CA.Chander Sawhney chandersawhney@gmail.com 9810557353 ' BY: CHANDER SAWHNEY No answers yet View Answers | Post Answers |
| 3076 |
Jun. 14 2006 |
interest rate –
(FINANCIAL MANAGEMENT)
ter rate is creasg world bankg is it possible another crease or this is hike ?? and what can effect all manners ?? ' BY: hanish No answers yet View Answers | Post Answers |
| 3077 |
Jun. 14 2006 |
LET EXPORT DATE –
(Customs & Excise)
For the purpose of Drawback Cim under Rule 6 & 7 of the Customs and Central Excise Duty Drawback Rules,1995 the st date of filg the Application for brand rate letter is 60,90 days from the LET EXPORT DATE. Is there any circur etc. is avaible which defes the LET EXPORT DATE as the actual date of shipment(i.e.date of s Receipt) and not the date of LET EXPORT as per shipg bill. ' BY: SAMEER K. SONAWANE No answers yet View Answers | Post Answers |
| 3082 |
Jun. 14 2006 |
Availability of Service tax Cenvate. –
(INDIRECT TAXES)
Our one of client is Transport company havg turnourver of more than 576 crore durg the fancial year 2005-06. The company is payg servcie tax of Rs. one cs a month under the scheme of Abatment of 75%. Now the company is gog to start another type of services under which no abatment is avaible. I wants to know that is the company is abale to cim cenvate agast these service tax liablility Which are charged @ of 12.24%. As per requirement of service tax under the category of goods transported by road, the company is givg the dection than we are not cimg any type of cenvate. ' BY: Ram Avtar sharma No answers yet View Answers | Post Answers |
| 3084 |
Jun. 14 2006 |
3010 –
(CORPORATE & OTHER LAWS)
Resp. Sir, I believe you are dicatg the limits applicable to receipts taken by Elected representatives, government servants, Political Parties and, or persons who are about to stand for election etc. my quions, none of above are receipient and an dividual who is a busessman is the receipient. Please advise me context on above facts. Thanks & regards CA Rajiv Kumar Srivastava ' BY: Rajiv Kumar Srivastava No answers yet View Answers | Post Answers |
| 3086 |
Jun. 14 2006 |
GOODS TRANSPORT BY ROAD –
(Service Tax)
1)Notification No. 32,2004-S.T., dated 3.12.2004, allows abatement of 75% on the taxable service provided by a goods transport agency (GTA) to a customer, subject to fulfillment of 2 prescribed conditions by the GTA. ter, the Director General Service Tax, vide Letter F. No. V,DGST,43-GTO,02,2005,19879, dated 30.03.2005, crified that the benefit of abatement was avaible only when the GTA was liable to pay service tax and this benefit was not avaible cases where the provisions of Notification No. 35,2004, dated 3.12.2004 are applicable (i.e., where the consignee or consignor are from one of the seven categories mentioned there). The Department is now issug show cause notices those cases where any person fallg one of the seven categories has availed the benefit of abatement. Is the crification given by the Director General Service Tax legally correct ? 2)A manufacturer some sales on FOR dation basis and bears the freight . Is cenvat credit avaible on such freight outwards ? ' BY: CA. B L Bhojwani No answers yet View Answers | Post Answers |
| 3089 |
Jun. 14 2006 |
SALR OF MOOLA GAINI RIGHT PROPERTY –
(DIRECT TAXES)
TAX LIABILITY OF SALE OF PROPERTY PASSED ON BY ANCRAL RIGHT AFTER PURCHASE OF MOO GAI AS PREVALENT KARNATA STATE ' BY: KUSHAL HEGDE No answers yet View Answers | Post Answers |
| 3090 |
Jun. 14 2006 |
SERVICE TAX LIABILITY FOR AN AGENT –
(Service Tax)
QUERY I am an denture (like an commission agent) bookg s from dian companies on behalf of foreign companies. The rial is directly supplied from Foreign Company to dian company urn I get commission from Foreign Company, which is directly remitted to me. The commission amount remitted to me is 10 to 12 cks per year. The followg quions are raised: - 1. Is service tax is applicable or not? 2. If applicable is their any legal way to mimise the tax liability of service tax or is there any legal way to avoids the tax liability? Justify with legal expnation. 3. If foreign company is not willg to ADD the amount of service tax the amount raised on bill then how the calcution will be done? . ' BY: RAKESH PANJWANI No answers yet View Answers | Post Answers |
| 3063 |
Jun. 13 2006 |
FBT –
(DIRECT TAXES)
Any Form prescribed,Notified for FBT urn? ' BY: MOHAN RAO YAKKALI No answers yet View Answers | Post Answers |
| 3068 |
Jun. 13 2006 |
Obligation under EPCG –
(INDIRECT TAXES)
DTA cover under EPCG and this DTA decided to convert to EOU unit u,s 10B What about obligation of export created due to EPCG import. Basawaraj ' BY: baswaraj No answers yet View Answers | Post Answers |
| 3042 |
Jun. 12 2006 |
HOW TO GET BANK AUDIT OTHER THAN STATUTORY AUDIT –
(AUDIT)
HI, I WANT TO HAVE MY NAME ENROLLED FOR REVENUE AUDIT OR OTHER MISC. BANK AUDIT PLEASE GUIDE ME ' BY: MAYANK DAVE No answers yet View Answers | Post Answers |
| 3044 |
Jun. 12 2006 |
Service Tax Refund –
(INDIRECT TAXES)
We are not producg Excisable products but service tax are beg charged to us.How can we cim the refund for such sum charged. Also we are payg service tax on freight.Is it possible to adjust it agst service tan on bills charged to us .If yes then under which provisions. ' BY: Nihar Kotru No answers yet View Answers | Post Answers |
| 3046 |
Jun. 12 2006 |
Service Tax on Building Maintenance Societies –
(INDIRECT TAXES)
Dear Sirs, Whether Services provided by a Society registered under Societies Regn. Act 1860(of owners,members) for upkeep and nance of their own multi storey office buildg under category of nance or Repair Services. If yes, whether taxable services will clude water charges, car parkg charges, annual surance and repcement charges. ' BY: Deepak Azad No answers yet View Answers | Post Answers |
| 3049 |
Jun. 12 2006 |
TDS DEPOSITED IN THE FLOOWING YEAR AFTER DUE DATE –
(DIRECT TAXES)
THE ASSESSEE COMPANY PAID COMMISSION AND JOBWORK CHARTGES DURG THE FANCIAL YEAR 2005-06 AND DEDUCTED THE SAME BUT DEPOSITED ALL THE TDS ON 6TH JUNE 2006. WILL IT ADVERSELY AFFECT ALLOWABILITY OF THE COMMISSION AND JOBWORK PAID. ' BY: U.S.KUNTAL No answers yet View Answers | Post Answers |
| 3052 |
Jun. 12 2006 |
Direct Taxes_Transferring stock in trade into fixed assets –
(DIRECT TAXES)
A company is crryg a piece of nd as stock trade for Rs.10 cs as at 31.03.05. Now the Board of company wants to transfer (by passg a journal entry)that nd as fixed assets for Rs.20 cs as the market value of that nd is Rs.20 cs as on 31.03.06. this situation whether there is any come Tax ibilities arise? Is there any difference, if the aforesaid nd has been conred as stock trade as on 31.03.04 through transferrg it from the fixed assets to stock trade. ' BY: Navin K. Gupta No answers yet View Answers | Post Answers |
| 3039 |
Jun. 11 2006 |
Income tax liability on compensation recd. for furniture &fixtures –
(DIRECT TAXES)
acase of TDR development mumbai as per the agreement of the builder with a co.op hsg socy where the builder shall demolish the whole structure and give each member of the socy, aft and rs. 300000 as compensation for furniture and fixtures what is the lcome tax liability of each member tunder come tax act towards the amount recd as compensation for furniture and fixture? ' BY: kushal hegde No answers yet View Answers | Post Answers |
| 3029 |
Jun. 10 2006 |
Repayment of Loan - NRI –
(INTERNATIONAL BUSINESS)
A rent has received a loan from NRI (ive) through his NRE a,c mataed dia free of ter equal to 200000,- US$s to be repaid after one year. what is the procedure one can adopt to repay the loan ? is it can be paid vide remmitance US$ directly to the NRI his country will the bankers i.e. NRE a,c will accept the payment directly his a,c dia. Pl sugg ' BY: Bhushan No answers yet View Answers | Post Answers |
| 3030 |
Jun. 10 2006 |
Benefit of HRA –
(DIRECT TAXES)
Dear madam,Sir An dividual has purchased a ft and cimg deduction of ter on borrowgs under come from house property and payment of prcipal u,s 80C. His spouse has also come from sary.Please guide me whether she is eligible to cim exemption of HRA agast payment of Rent, for some other property. Pls. note that both of them are stayg,workg same city. ' BY: Prabin Kumar No answers yet View Answers | Post Answers |
