Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 2754 |
May. 17 2006 |
Benefit of Section 54 of I.T.Act –
(DIRECT TAXES)
Assessee will construct a rential house. After shiftg to the new house assessee will sell the old house property where presently he is residg. What procedure to be followed with the time period so that assessee can get 100% benefit under section 54. ' BY: DIPAK PAL No answers yet View Answers | Post Answers |
| 2732 |
May. 16 2006 |
Unabsorbed depreciation –
(DIRECT TAXES)
For the AY 2005-06 Company A, the assessee, was havg only come from other sources.While calcutg the taxable come for AY 2005-06, the unabosrbed depreciation of the AY 2000-01, AY 2001-02, AY 2002-03 and AY 2003-04 has been set off agast the come from other sources. But I understand that the unabsorbed depreciation of AY 2000-01 and AY 2001-02 is not eligible for set off agast come from other sources and it can be set off only agast busess come as per the provisions that were prevailg before amendment of Sec 32(2) by Fance Act 2001. I need the followg to be crified: 1. Whether the unabsorbed depreciation can be set off agast come from other sources (there was no busess come for Ay 2005-06)? 2. If so, Whether the unabsorbed depreciation of AY 2000-01 and Ay 2001-02 could be set off agast other come? 3. After the amendment of 32(2) by F.Act 2001, what is the status of unabosrbed depreciation of AY 2000-01 and AY 2001-02 for the AY 2005-06 - Whether it can be carried forward only for 8 Asst years and whether it can be set off only agast buisness come? Thank you ' BY: Balaji.S No answers yet View Answers | Post Answers |
| 2733 |
May. 16 2006 |
About SAP –
(FINANCIAL MANAGEMENT)
Dear Sir, I want to Know About SAP FICO module(Fancial & Management). Wether it is useful to a CA. Sir I want to take up this course.PLZ. advice me its benefit & SAP stitutions dia. ' BY: Mayank Agarwal No answers yet View Answers | Post Answers |
| 2734 |
May. 16 2006 |
Deduction U/s. 80C - Bank Fixed Deposit... –
(DIRECT TAXES)
Is Bank F.D. with co-oprative bank (or only nationalised Bank F.D.)for 5 yrs lock period is allowed as deduction u,s.80c from A.Y. 2007-08 onwards?? ' BY: SANJAY SHAH No answers yet View Answers | Post Answers |
| 2735 |
May. 16 2006 |
Advertising guidance note??? –
(COUNCIL DECISION)
as per amendments C.A. Act, now CA can advertise his,her professional services to limited sources but details guidance note will be published by the sititute? when such note come out?? meanwhile if anybody have brief idea for above matter then kdly exp the same!!! Thks.. ' BY: Mona Periyaswami No answers yet View Answers | Post Answers |
| 2736 |
May. 16 2006 |
Annual TDS Return –
(DIRECT TAXES)
Is it compulsory to file annual TDS urn? ' BY: Shivam Porwal No answers yet View Answers | Post Answers |
| 2737 |
May. 16 2006 |
Form No.16A –
(DIRECT TAXES)
Is there any change the format of Form 16A? If yes, from where can I download the t format? ' BY: Shivam Porwal No answers yet View Answers | Post Answers |
| 2740 |
May. 16 2006 |
MAT CREDIT ALLOWED OR NOT FOR A.Y.2001-02 TO 2005-06 –
(DIRECT TAXES)
We have been paid MAT Tax durg the A.Y. 2001-02 to 2005-06.kdly sugg that credit to be allowed or not this F.Y. 2005-06,PLEASE ALSO SUGG ANY CASE W & Notifications relevant to this for further crrificatiob. ' BY: ANIL KUMAR AGRAWAL No answers yet View Answers | Post Answers |
| 2742 |
May. 16 2006 |
whether medical transcription centre liable to service tax –
(INDIRECT TAXES)
=> whether medical transcription centre liable to service tax followg circumstances( after withdrawl of exemption wef 1-3-2006) 1 services provided to agent dia 2 services provided directly to doctors based out dia =>effect of notification no 2,2006 dt 28-2-2006 each of the above circumstances =>specifically whether any exemption avaible if amount recived foreign exchange 2nd case ' BY: P M CHOUDHARI No answers yet View Answers | Post Answers |
| 2744 |
May. 16 2006 |
Salary Payment Deduction –
(Profits & Gains of Business & Profession)
Sary paid to dy Directors - Disallowed-1) Visit to office only the absence of Male Directors 2) no workg office. if have any dediced case ws please submit ' BY: Dinesh Chandra Agarwal No answers yet View Answers | Post Answers |
| 2748 |
May. 16 2006 |
Applicability of service tax on sub-contractor –
(INDIRECT TAXES)
An assessee engaged construction services sub-contracts part of the construction service contract to a sub-contractor. Which of the followg two options is correct so far as the ma service provider is concerned: 1. Deposit the service tax on the total contract value and issues a certificate to the sub-contractor regardg the payment of service tax on sub-contract value. 2. Pay to the sub-contractor the sub-contract value along with the service tax thereon and then deposit the service tax on the total contract value after takg cenvat credit of service tax paid to the sub-contractor. Ajay Sharma caajaysharma@yahoo.com ' BY: AJAY SHARMA No answers yet View Answers | Post Answers |
| 2726 |
May. 15 2006 |
on Works Contract onder State VAT Act –
(INDIRECT TAXES)
TDS on Works Contract under State vat the state of Punjab is 2% and where as the state of Haryana it is 4% on the gross bill. It is presumed that it is agast the bill raised by the Works Contractor who is under composition scheme. How the WCT will be deducted at source if the Works Contractor is under Regur Scheme.Or it it will also be deducted on Gross Turnover like the way it is benig done case of Composition Scheme. Act is not clear on this. Pl extend your valuable opion on this. G.S.Mohapatra 9448034517 ' BY: GIRIJA SHANKAR MOHAPATRA No answers yet View Answers | Post Answers |
| 2722 |
May. 14 2006 |
export –
(INTERNATIONAL BUSINESS)
My client wants to open a company or firm to export precious stones like diamonds and emerald etc He wants to these goods dia cash and export to America but as per his knowledge no voice or cash memo is issued.for purchase of these goods dia Please advice on followg – 1. If he wants to start his busess as proprietor, how should he go ahead and start busess i.e. what formalties are to be carried out. 2. Can he the goods cash and without bill,cash memo or otherwise. ' BY: SUMIT AGARWAL No answers yet View Answers | Post Answers |
| 2713 |
May. 13 2006 |
Abatement of 75% to Goods Transport Agency –
(Service Tax)
Dear Members, Goods Transport Agencies are entitled for abatement of 75% from the gross amount charged vide notification no.32,2004 for providg the taxable services . I am of the opion that this abatement is also avaible to the consigness or consignor, if they are from one of the seven categories mentioned the notification no.35,2004 and liable to pay service tax. But the department has issued the notices mentiong that abatement of 75% from the gross amount charged by goods transport agency is avaible only cases where Goods Transport Agency is liable to pay service tax. This benefit is not avaible cases where the provisions of notification no.-35,2004 are applicable. other words if the consignee or consignor are liable to pay service tax 75% abatement is not avaible to them. Please Crify the correct position. ' BY: BHAG CHAND JAIN No answers yet View Answers | Post Answers |
| 2714 |
May. 13 2006 |
Consultancy Practice in Individual Capacity by Exclusive Partners - Whether allowed ? –
(COUNCIL DECISION)
A & Co. is a CA Firm with 2 partners eusiverly associated with the firm & no partner is carryg out dividual practice. Now sce service tax is levied on all services rendered by a CA Firm, whetehr followg pnng to avoid service tax payments is possible ? 1) Audit, certification & attion practice will be carried out the name of Partnership Firm. 2) TAxation Consultancy practice & other areas where attion by CA is not required will be carried out by partners their dividual name & bills to clients will be issued dividual name. 3) By dog so, whether exclusive assoication of the partners with the firm is affected? my opion, sce partners are not carryg out attion practice dividual name. they will steel deemed to be Exclusiverly associated with the firm & it will not affect the status of the firm as FULL TIME Partners. Please crify. ' BY: CA Rajendra Mandhana No answers yet View Answers | Post Answers |
| 2701 |
May. 12 2006 |
Long term capital asset –
(DIRECT TAXES)
Sir, As per Sec 2(42A) SHARES HELD A COMPANY OR ANY OTHER SECUIRTY LISTED A RECOGNISED STOCK EXCHANGE DIA OR A ......, THE WORDS 36 MONTHS WILL BE SUBSTITUTED TO 12 MONTHS. IS THE ABOVE APPLICABLE ONLY ON SHARES OR SECURITIES LISTED RECOGNISED STOCK EXCHANGE DIA. WHAT ABOUT THE SHARES HELD A PRIVATE COMPANY. IF THEY ARE SOLD AFTER A PERIOD OF 12 MONTHS WILL IT BE A LONG TERM CAPITAL ASSET OR A SHORT TERM CAPITAL ASSET. ' BY: SATISH CHANDRA S JAIN No answers yet View Answers | Post Answers |
| 2705 |
May. 12 2006 |
Tax invoice or Retail invoice for sale Outside Gujarat State? –
(INDIRECT TAXES)
When we sale goods to any state out Gujarat state by chargg CST, whether we have to issue TAX VOICE OR AIL VOICE? Whether GVAT Act and its provisions for voicg apply to sale out Gujarat? Pls crify if anyone knows ' BY: Ketan Barevadia No answers yet View Answers | Post Answers |
| 2706 |
May. 12 2006 |
TDS on payment made to telephone companies like hutch,reliance u/s 194 C –
(TDS/TCS)
Iam formed that when telephone bills are paid to hutch,reliance airtel etc tds has to be made u,s 194 C.Whether TDS is required to be made for telephone payments or not? Iam formed that some of CA firms are askg their clients to deduct tds before makg payments on telephone.Is 194 C applicable to tel payments ' BY: Bharath Gopalakrishnan No answers yet View Answers | Post Answers |
| 2709 |
May. 12 2006 |
Ground of Appeals –
(INDIRECT TAXES)
What are the possible ground of appeals, as revised urn was denied by STO (KDU) Delhi? When this was discussed with the Assistant commissioner then he said as Act is silent upon this so the same can be denied by the STO. Although, there is no provision for refusg the revised urn the Act. ' BY: RAMANAND JHA No answers yet View Answers | Post Answers |
| 2711 |
May. 12 2006 |
VALUATION OF AGRICULTURE PRODUCTS/STANDING CROP –
(DIRECT TAXES)
SIR, THE ACCOUNTANTG STANDARD FOR VALUATION OF VENTORIES IS NOT APPLICABLE TO VALUATION OF AGLICULTURE PRODUCTS. HOW THE VALUATION OF VENTORIES IE. CROP SABLE NEXT YEAR OR SOME TREES ETC SALEBLE AFTER SOME YEARS AND THE FRUITS WHICH COULD BE OBTAED AFTER SOME YEARS SHOULS BE MADE THANKS N RAGARS ' BY: navin chander goel No answers yet View Answers | Post Answers |
