Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5987 unanswered question(s) — Showing 5101–5120
| Que. Id | Date | Description |
|---|---|---|
| 3031 |
Jun. 10 2006 |
Can I invest my Long Term Capital Gain amount in 2 independent residential houses u/s 54 of Income Tax Act,1961, within stipulated time –
(Capital Gains)
One of the my client has sold his rential house and earned Long term capital ga from it.He wants to v LTCG amount the 2 dependent rential houses, with stiputed time. By dog so, will he be eligible for cimg exemption under section 54 of come Tax Act,1961? ' BY: Mahendra Kumar No answers yet View Answers | Post Answers |
| 3035 |
Jun. 10 2006 |
Excise Duty on Bio-Diesel –
(INDIRECT TAXES)
What is the cssification of Bio-diesel under Excise and what is the effective rate of Duty on BIO-DIESEL ? ' BY: Uttam Patel (FCA) No answers yet View Answers | Post Answers |
| 3016 |
Jun. 09 2006 |
Bank Audit –
(AUDIT)
Hi, Are CA who are CISA also elligible for bank audit, if so what is the citeria ' BY: Ritesh Tibrewala No answers yet View Answers | Post Answers |
| 3021 |
Jun. 09 2006 |
3262 –
(Service Tax)
DEAR Madhukar N Hiregange, RULE 6 SAY THAT IF SERVICE PROVIDER PROVIDE MULTIPLE SERVICE (ONE EXEMPT AND ANOTHER IS TAXABLE SERVICE) AND SERVICE PROVIDER DOES NOT MATAED SEPARTE BOOKS OF ACCOUNT THEN RRICTION OF 20% IS APPLICABEL. RUEL 6(5) SAY THAT 16 SERVICES ARE FREE FROM RULE 6 (2)(3),(4),SERVICE PROVIDER CAN C FULL CREDIT RESPECT OF 16 SERVICES MENTIONED 6(5). HERE MY CASE THER IS NO EXEMPT SERVICE , ALL SERVICES ARE TAXABLE SERVICES ON THE OTHER HAND DEFNITION OF PUT SERVICE IS CLUSIVE AND COVER COVER ALL PUT SERVICE TAX ED TO ACTIVITIES OF BUSESS. I THK, THE TENTION OF GOVT. TO TRODUCE CEVAT CREDIT RULE 2004,IS TO ABOLISH THE ONE TO ONE CO-ION. PL. CONR THE ABOVE POT AND ANS. THANK YOU ' BY: MANISH KUMAR MISHRA No answers yet View Answers | Post Answers |
| 3025 |
Jun. 09 2006 |
3261 –
(DIRECT TAXES)
i thk that my query is not terped correctly what i want to say that if any employees (say director) sary exceeds RS 6 & on its (whole amount of sary) employer contributes to PF 12% of its sary. so whether such contribution to the excess of limit of 6 is deductable exp. under IT & whether such contribution is chargeable to FBT as it comes under vountary contribution. ' BY: sulbha gadia No answers yet View Answers | Post Answers |
| 3009 |
Jun. 08 2006 |
CAPITAL GAIN ON SALES OF A DEPRECIABLE ASSET. –
(Capital Gains)
A PVT LIMITED COMPANY PURCHASED TWO PROPERTIES WORTH RS.35 KHS 1997 AND NO DEPRECIATION HAS BEEN CIMED SCE THAT YEAR THE ITR FILED BY THE COMPANY. THE YEAR 2005-2006(FY) THE COMPANY SOLD ONE OF THE PROPERTY FOR RS.30 KHS.BEFORE SELLG THIS PROPERTY THE COMPANY ALSO FORFEITED AN AMOUNT OF RS. 12 KHS AS THE DEAL WITH THE PARTY COULD NOT BE EXECUTED. MY QUERY IS THAT IF WE PROCEDD U,S 50(1) OF THE COME TAX ACT,1961,WE CANNOT CIM SHORTTERM CAPITAL GA UNDER THAT SECTION.SECTION 50(2) IS NOT APPLICABLE SCE BLOCK OF ASSETS EXISTS.ALSO IF A COMPANY HAS NOT CIMED DEPRECIATION SECTION 50(1 CAN NOT BE APPLIED AS PER LEGAL DECISION(I CANNOT REMEMBER THAT DECISION). PLEASE ADVICE ME HOW I SHOULD SHOW THIS TRANSACTION THE ITR FOR THE ASSESSEMNT YEAR 2006-2007. ' BY: AMIT AGRAWAL No answers yet View Answers | Post Answers |
| 3011 |
Jun. 08 2006 |
Contradictory answers to Ques ID 3240 - Gifts from non-relatives –
(DIRECT TAXES)
With due regards to views expressed by the members, the position is still not clear as the replies to the quion ID 3240 are contradictg each other.Kdly crify whether the limit is 25,000 or 50,000 per annum or there is no limit? ' BY: Prashant Narang No answers yet View Answers | Post Answers |
| 2981 |
Jun. 07 2006 |
Club- Life member-Qn. ID 3211 –
(AUDIT)
Dear CA. Bhojwani, Thanks for your reply. Once Life Membereship Fee is credilted to Gen. fund or Life Membereship Fund, what is wrong vg separately so that the earng may be shown separately? Mohamed Shafi ' BY: Mohamed Shafi No answers yet View Answers | Post Answers |
| 2986 |
Jun. 07 2006 |
Service Tax on Out of Pocket Expenses –
(Service Tax)
Is one required to charge and pay service tax on the out of pocket expenses alongwith the charge for the taxable service? Kdly provide the notification number for reference. ' BY: Prashant Narang No answers yet View Answers | Post Answers |
| 2987 |
Jun. 07 2006 |
idendtity card –
(MISC.)
i want to know about one of identity card issuance by govt. after the issuance there is no need any identity card, no other cards all one type as this reality or fake ?? ' BY: hanish No answers yet View Answers | Post Answers |
| 2993 |
Jun. 07 2006 |
Import duty on liquor –
(INDIRECT TAXES)
Hi, All please provide the rate of import duty on liquor. Further i want to know what would be the VAT rate on purchasg the same dia from a importer. Thanx ' BY: Pavananshu Saxena No answers yet View Answers | Post Answers |
| 2996 |
Jun. 07 2006 |
LONG TERM CAPITAL GAIN TAX IN CASE OF DEMATERIALISED SHARES –
(DIRECT TAXES)
A person Purchase shares physical Form the year of 1990. He has derialised the above shares January 2006 and sold the shares March 2006 whcih STT is paid. Whether Shares sold will be treated as long term asset and capital ga from transferg shares will exempt from tax ? ' BY: RAMPAL LADDHA No answers yet View Answers | Post Answers |
| 2972 |
Jun. 06 2006 |
old saral –
(DIRECT TAXES)
whether the old saral form can be used for busess come group as the new saral 2f is not applicable to busess come group? ' BY: chithambaram No answers yet View Answers | Post Answers |
| 2974 |
Jun. 06 2006 |
sale of agriculture land –
(DIRECT TAXES)
An agriculture nd situated with the municipal limit of the city. purchased on 12,2004 170000 and sold on 04,2006 200.is there a short term capital ga or not . what is the mimum tax liability ' BY: mukesh sharma No answers yet View Answers | Post Answers |
| 2962 |
Jun. 05 2006 |
Depreciation - sale of fixed assets –
(DIRECT TAXES)
Dear Colleagues, If fixed assets are sold, is it a must that the profit or on such sale to be shown separately I,E or PL statement ? the audited accounts of a club, they have not shown the profit, on sale of FA come & expenditure statement. stead, they adjusted the entire sale proceeds agast the cost of the FA. Is it a right method ? Mohamed Shafi mashafica@yahoo.co. ' BY: Mohamed Shafi No answers yet View Answers | Post Answers |
| 2964 |
Jun. 05 2006 |
Club –
(OTHER BODIES)
Hello, One of my friend is runng a club to help the needies. He collects donations and expends them the followg ratio- 50% expended the same year,25% aed as savgs ,25 % as club expenditure. He wants it to get it registered. Where to get it registered , Is there is any statutory liability and what are the pots to be kept md ? Thanks ' BY: SUMIT AGARWAL No answers yet View Answers | Post Answers |
| 2966 |
Jun. 05 2006 |
tds on service tax –
(DIRECT TAXES)
Whether tax is to be deducted on service tax? ' BY: VIJAYA NAND JHA No answers yet View Answers | Post Answers |
| 2970 |
Jun. 05 2006 |
Applicability of TDS on expenses paid in foreign currency –
(TDS/TCS)
WHEN ANY EXPENSE IS CURRED BY A COMPANY THE FORM OF SARY , COMMISSION AND PAID TO A RENT DIAN UAE , TDS IS REQUIRED TO BE DEDUCTED BY THE CO, BUT WHAT DIFFERENCE WOULD IT MAKE SUPPOSE THE SAME EXP OR SOME OTHER THE FORM OF RENT IS PAID TO A RENT OF UAE? ' BY: RADHIKA SHIVKUMAR BHOTICA No answers yet View Answers | Post Answers |
| 2957 |
Jun. 04 2006 |
Member of a club - auditor –
(AUDIT)
Dear colleagues, Can a member of a Club( who is not a membere of any committee of the club) be appoted as an Auditor of the Club ? Can the Life Membership Fee collected from members, be shown as an come or has it to be shown as a Life Membership Fee Fund and needs to be ved separately ? If this is shown as an come for the correspondg year, and no vment is there for Life Members, has the auditor, to make special comments his report ? AGM of the club, can auditor exp and answer to the querries posted by members or is it the duty of the Execultive committee to answer to the members querries ? Mohamed Shafi ' BY: Mohamed Shafi No answers yet View Answers | Post Answers |
| 2959 |
Jun. 04 2006 |
Applicability of surcharge @ 10% –
(TDS/TCS)
Can any of my friend tell me as to from which date the surcharge on TDS was creased to 10%. Please let me know at the earli ' BY: AMBAR KASLIWAL No answers yet View Answers | Post Answers |
