Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 1885 |
Mar. 03 2006 |
VAT ON DISPOSAL OF THE CAR USED IN BUSINESS –
(INDIRECT TAXES)
IF A CAR USED BUSESS IS DECRED IDLE ASSETS AND IS DISPOSED THROUGH TENDER, WHETHER VAT IS APPLICABLE OR NOT ON THE AMOUNT QUOTED BY THE PARTY.IF YES THEN AT WHAT RATE (LOCATION OF BUSESS IS DELHI) ' BY: VINOD KUMAR GUPTA No answers yet View Answers | Post Answers |
| 1886 |
Mar. 03 2006 |
Section 80 HHC & 115 JB –
(DIRECT TAXES)
80HHC A company has an entitlement of deduction u,s 80HHC and also havg carryforward es. Now the quion is whether deduction is allowable after set off carryforward es or before set off of carryforward es: Please quote case reference this regard. 115 JB ITO has argued that the provision for bonus, gratuity ,leave encashment ( as per Actuary certificate)and proion for dimunation value of vment Jot venture Co.( not a subsidiary) shall be added back for calcutg book profit. As per assessee the provisions are on the nature of ascertaed provision and shall not be added profit for 115JB. Please form the right position with case w reference. Thanks ' BY: VIJAY KUMAR JAIN No answers yet View Answers | Post Answers |
| 1887 |
Mar. 03 2006 |
Withdrawal from Poast Office savings Account –
(DIRECT TAXES)
Dear Frends 1. whether the withdrawal from post offcie savgs account is liable to come tax act.? 2. Whether the Accured ter on post offcie fixed deposit is exempt from Tax.u,s 10(15)(i)? the Above querry is respect of A.y 2005-2006. Plz reply ASAP ' BY: kalpesh No answers yet View Answers | Post Answers |
| 1888 |
Mar. 03 2006 |
tds - return filing due date –
(DIRECT TAXES)
Hello TDS urn to be filed before 30.04.06. Whereas, for the TDS made on 31.3.2006, the due date of payment is 31.5.2006. The E-TDS urn software will not accept the data unless and otherwise, the date of actual payment is fed. If the assessee has made the TDS on 31.03.2006 but not paid before 30.4.06,(i.e., beg the due date for filg e-tds) how should the assessee prepare the TDS urn? Is he not directely deprived of his right to pay the TDS upto 31.5.06? Pl.exp. ' BY: BALAJI S No answers yet View Answers | Post Answers |
| 1891 |
Mar. 03 2006 |
FBT –
(DIRECT TAXES)
Asseessee is construction co. Durg the period assessee had paid stamp duty and registration charges of customers which debited to marketg exps. Whether it will come under sales promotion exps or It may be shown as sales discount. ' BY: R.C. Jain No answers yet View Answers | Post Answers |
| 1868 |
Mar. 02 2006 |
service tax on chartered accountants –
(INDIRECT TAXES)
what will be impact on chartered accountants by notification dated 1-3-2006 regardg withdrawal of exemption from service tax on services other than accountg, auditg, certification rendred PROFESSIONAL CAPACITY. Now which serice will come tax purview and now which service provided by C.A. will be exempt ? ' BY: RAJESH MEHTA No answers yet View Answers | Post Answers |
| 1871 |
Mar. 02 2006 |
Applicability of Tax Audit –
(AUDIT)
For the purpose of Tax Audit of a Diagnostic Centre turnover should be conred at >Rs.10 kh or >Rs.40 kh any fancial year? ' BY: DIPAK PAL No answers yet View Answers | Post Answers |
| 1877 |
Mar. 02 2006 |
Is it necessary to show the tax paid on non taxable items to show in half yearly return –
(INDIRECT TAXES)
Dear Sir XYZ Trust paid service tax collected by it on non taxable item to the credit of the Central Government.They are otherwise liable to pay service tax on some items for which they are very much availg CENVAT credit and filg half yearly urn regury. Please advise me whether this service tax paid amount need to be mentioned half yearly run and how ' BY: Aravindakshan No answers yet View Answers | Post Answers |
| 1879 |
Mar. 02 2006 |
DUE DATE OF TDS QUARTERELY AND ANNUAL RETURN –
(DIRECT TAXES)
Due Date of TDS Quarterly and Annual for st Quarter. ' BY: MANOJ KUMAR KEDIA No answers yet View Answers | Post Answers |
| 1881 |
Mar. 02 2006 |
Service tax on ATM –
(INDIRECT TAXES)
how the service tax will be imposed on ATM services ' BY: tapas basu No answers yet View Answers | Post Answers |
| 1864 |
Mar. 01 2006 |
Change of Name of Liasion Office –
(INTERNATIONAL BUSINESS)
What is the Procedure for Name Change of an Existg Liasion Office dia. Parent Company Japan ' BY: A.M No answers yet View Answers | Post Answers |
| 1865 |
Mar. 01 2006 |
Tax deduction on joint ownership of self occupied property –
(DIRECT TAXES)
Hi, Me and my wife have a joed property (Im the first holder and shes the second). While I have taken a loan of X amt. (she beg second applicant), she has taken a loan of Y amt. The tax statement recd from the bank for my portion (X) shows the loan as a jot loan (sce shes second applicant). Further, as regds her loan (Y amt), I am not the second applicant. How much can each one of us cim? ' BY: Krishnan MV No answers yet View Answers | Post Answers |
| 1866 |
Mar. 01 2006 |
Income of a trust –
(DIRECT TAXES)
A trust which is runng school have deposit surplus money bank FDRs. The AO wants to tax the ter come on FDR. If there is any case w this matter? ' BY: Mahesh Khandelwal No answers yet View Answers | Post Answers |
| 1867 |
Mar. 01 2006 |
SHARE OF LOSS FROM PARTNERSHIP FIRM –
(DIRECT TAXES)
Mr. X is a Partner two partnership firms namely M,S XY and M,S XZ. Durg a particur year M,S XY curred a of Rs.10000,- and the share of the books of Mr X comes to Rs.0,-. DURG THAT YEAR M,S XZ EARNS AN COME OF RS.00,- RESULTG SHARE OF PROFIT THE HANDS OF MR X RS.20,-.APART FROM THIS MR X HAS OTHER COME OF RS.100,- DURG THAT YEAR, WHICH CLUDES A BUSESS COME FROM A PROPRIETORSHIP CONCERN TO THE TUNE OF RS.20,-. Mr X wants to set off the share of from M,S X, agast its busess come from proprietorship concern My querries are : 1) Whether Mr X is allowed to set off its share of from Proprietorship concern. ( The share profit, from partnership firm is not taxable the hands of the partners) 2) Whether situation will change if Mr. X is partner only one firm makg (i.e.M,S XY) ' BY: SANTOSH MOHTA No answers yet View Answers | Post Answers |
| 1859 |
Feb. 28 2006 |
CREDIT ON SERVICE TAX –
(INDIRECT TAXES)
A Co. XYZ provides various Consultancy services to its clients to the tune of Rs.say 1 crore durg a fancial year and collects service tax @ 10.2% on the same.Durg the same year it avails the services of other service provider to the tune of Rs.8000000 and pay service tax @ 10.2%. My querries are: 1) What is the quantum of service tax credit it will enjoy. Somebody has advised that maximum 20% of the total service tax liability can be set off, is this correct? 2) If yes, than whether the company have to pay service tax to the tune of Rs.800000,- odd figure and will have to forego the service tax to the tune of around Rs.600000,- paid by him? ' BY: SANTOSH MOHTA No answers yet View Answers | Post Answers |
| 1861 |
Feb. 28 2006 |
TRAETMENT OF COMPENSATION RECEIVED FOR NOT TAKING EMPLOYMENT. –
(DIRECT TAXES)
The assessees husband a Haryana Govt. Employee expires two years back and all his dues were received and tax treatment was given as applicable. Durg the current year 2005-06 the dy (deceased wife) received a Compensation from the Haryana Govt for not takg employment pce of her husband. What tax treatment will be given durg the year? ' BY: VINOD KUMAR GUPTA No answers yet View Answers | Post Answers |
| 1833 |
Feb. 27 2006 |
Service Tax paid on purchase of Flat which is used for Residence as well as Office –
(INDIRECT TAXES)
My client is a management consultant and is carryg on his activities from his rented house He has registered to service tax dicatg this address. Durg the fy05-06, he has purchased rential ft and has paid applicable service tax on such value. Now, he tends to relocate his office from his rented to house to own ft for which he has paid service tax. Kdly crify with specific reference any trade notice, circur or any other provisions of service tax w as he wants to take put credit of this service tax paid agast service tax collected from his customers. my opion, it can be set off. ' BY: S.Sathyanarayana Prasad No answers yet View Answers | Post Answers |
| 1842 |
Feb. 27 2006 |
who will be legal heir –
(DIRECT TAXES)
Mr. X was co-owner of property with his spouse. He has three son. After his death who will be Legal heir of his part of Property. ' BY: atul singhal No answers yet View Answers | Post Answers |
| 1845 |
Feb. 27 2006 |
Residential status while settleing back in India –
(DIRECT TAXES)
IF assesee, left dia on 2nd Sept. 05 for employment, will he become non-rent dian for AY 2006-07. If assessee, want to come back dia, if he comes back to dia After 30th Sept. 2006, will his earngs from 1,4,2006 to 30,9,2006, earned and received out dia, will be taxable dia AY 2007-08 (PY.2006-2007)? ' BY: vinay aggarwal No answers yet View Answers | Post Answers |
| 1832 |
Feb. 26 2006 |
Quaterly statement –
(DIRECT TAXES)
Tax has been deducted on 20.5.2005 out of commission payment but this tax has been deposited on 15.2.2006. Is deductor is liable to file quaterly statement for first quater or this deduction will be reported 4th quater statement? ' BY: Akhilesh Narayna No answers yet View Answers | Post Answers |
