Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 1646 |
Feb. 11 2006 |
TDS on hire charges –
(DIRECT TAXES)
Rent is beg paid on equipment like bull dozers, pocs, casr, etc. If TDS provisions are attracted, then it is under which section...194C or 194I! Because, 194I does not speak about equipment. And Circur no.681 dated 8th march 1994 implies that this does not come under 194C... kdly crify the position! ' BY: venkat narayan vedantam No answers yet View Answers | Post Answers |
| 1648 |
Feb. 11 2006 |
Can Practicing CA be a promoter of a Company engaged in MF Distribution –
(COUNCIL DECISION)
Dear Readers I am tered promotg a company whose objects clude MF Distribution. As per AMFI Guideles, an ARN Holder has to surrender his licence the name of Company. Does Regutions of stitute permit me to have an ARN Licence surrendered the name of Company... ' BY: Chandra Prakash Baid No answers yet View Answers | Post Answers |
| 1649 |
Feb. 11 2006 |
investigation after audited by a CA - fraud detected –
(AUDIT)
A religious stitute was already audited by a CA and subsequently they appoted another CA to vigate the avtivities of the stitution. The new CA detected various fraud. 1. Is it necessary for a new auditor to form and seek previous CA for his approval before takg up the vigation work ? 2. Havg found out various irregurities and fraud, apart from reportg to the management , is it necessary to report to our stiture for the negligence of the previous auditor ? Mohamed shafi mashafica@yahoo.co. ' BY: Mohamed shafi No answers yet View Answers | Post Answers |
| 1629 |
Feb. 10 2006 |
Taxability of Reimbursement of Driver salary to an Employee ^ Section 115WB(1) (a) –
(DIRECT TAXES)
As per pot no 78 of detailed circur on FBT, the reimbursement of driver sary ( driver is not on roll of the co.)to an employee (just on his decration) is not covered u,s 17(1) and FBT is payable u,s115WB(2) F, While earlier reimbursemnet was taxable the hands of employee.Further Frge benfit(FB) as per 115WB(1)(a) has not been given value 115WC, while F.B u,s115WB(1)(b&c)is valued at 100%&115WB(2)A to K valued at20% & L to P at 50%.Is it mean that Frge Benefit defed u,s 115WB(1)(a)is free from Frge Benfit Tax the absence of any valuation of the same u,s 115WC. V.K Ja ' BY: Vijay Kumar Jain No answers yet View Answers | Post Answers |
| 1633 |
Feb. 10 2006 |
Details about DFEC –
(INDIRECT TAXES)
Just i want to know about the details regardg DFEC (also its accountg part)..... ' BY: G Karthik No answers yet View Answers | Post Answers |
| 1635 |
Feb. 10 2006 |
Capital Gain Tax on excess receipt of Advance given for the purchase of Res. Flat –
(DIRECT TAXES)
Mr A Booked the Ft with the Builder @ Rs. 2,000,- per sq. ft. He has to make periodic payment as per the stage of completion of construction sce the ft was under construction. The payments were spread over two fancial year, the 1st F.Y. the payments made were shawn as Advance for Ft under Loans and Advances. No agreement was entered with the builder only an allotment letter was issued by the builder to Mr A. Neither stamp duty was paid nor registration was made. the 2nd F.Y. Mr A urned the Ft to the Builder. Builder urned the periodic payment recd from A @ Rs. 2,300,- per sq ft beg the prevailg market rate of the ft. Whether Rs. 300,- per sq ft (2300-2000) is taxable as capital Gas even though no agreement was made and furthermore sce Ft was under construction, Mr A did not even received the possession of the ft. ' BY: Deepak K. Gala No answers yet View Answers | Post Answers |
| 1638 |
Feb. 10 2006 |
DISOLUTION OF HUF –
(MISC.)
How A HUF can be completley partitioned and its status disolved ? How it will be done, where there are smaller HUF of some members of the HUF? If there is no other male member the HUF? Who will be entitled for sharg the wealth of the HUF? How the assets recivied from partition will be traeted the all the above three situation? ' BY: VINOD KUMAR GUPTA No answers yet View Answers | Post Answers |
| 1611 |
Feb. 09 2006 |
Scope of Business Auxiliary Service –
(INDIRECT TAXES)
Whether any ancilliary service obtaed by out party the manufacturg process with the factory premises and on assets of factory is covered the ambit of Service Tax? ' BY: RAHUL JAIN No answers yet View Answers | Post Answers |
| 1612 |
Feb. 09 2006 |
80C-PF –
(DIRECT TAXES)
Dear Members Is voluntary contributrion of employees to PF eligible for 80 c deduction? psl answer regards raghu ' BY: raghu No answers yet View Answers | Post Answers |
| 1613 |
Feb. 09 2006 |
Fringe Benefit Tax - Lease Deposit –
(DIRECT TAXES)
A company pays advance security lease deposit, for rential houses which are used by the employees their personal capacity. Its the obligation of the employees to pay for the monthly rent. The lease of house is the name of the company. The advance security carries no ter and is paid back at the end of the lease period. Would the company pay Frge Benefit Tax on the notional ter amount ( cacluated at the prevelent market rates on the amount of security) ? ' BY: Tarun Sawhney No answers yet View Answers | Post Answers |
| 1614 |
Feb. 09 2006 |
1768 –
(DIRECT TAXES)
When X Co. will raise a debit note on Y Co., Y Co. will absorb the cost as fee for technical services. Accordgly I believe Section 195 gets attracted with the DTA provisions. Please confirm whether I am right my approach. Regards ' BY: Sunita Umesh No answers yet View Answers | Post Answers |
| 1599 |
Feb. 08 2006 |
Notice for filling of return –
(DIRECT TAXES)
The ITO Company ward Delhi has sent a notice for FOUR assessment years, to the director of the company assessed with him to file comeTax urn.He has given reference to a circur,notification no.534 dated 31-7-2001 for wideng of tax base( NO sections mentioned under which the notice is issued).What is the course of action avaible to assessee especially when the assessee has no taxable come,PAN number. ' BY: RANJAN KUMAR No answers yet View Answers | Post Answers |
| 1602 |
Feb. 08 2006 |
TDS –
(DIRECT TAXES)
whether TDS should be deduct on adhoc proion of expenses made,to be made on bance sheet date. Like on Legal & Professional Expenses ' BY: Dinesh Mamodiya No answers yet View Answers | Post Answers |
| 1586 |
Feb. 07 2006 |
Sec 264 read with 143-What do you mean by an order?whether an acknowledgement on IT return is an order? –
(DIRECT TAXES)
Assessee has filed his IT-urn and got an acknowledgement on urn copy. his urn exemption for VRS was cimed lesser by oversight, whether he can revise his nurn u,s 264. He has not received any from department. ' BY: Kanti Jain No answers yet View Answers | Post Answers |
| 1589 |
Feb. 07 2006 |
Querry 1738- bank branch audit –
(AUDIT)
Thanks to Mr. A. B. Karnik and Mr. Hardeep S S for replyg to my querry regardg above referred subject. Mohamed shafi mashafica@yahoo.co. ' BY: Mohamed shafi No answers yet View Answers | Post Answers |
| 1590 |
Feb. 07 2006 |
Service tax paid on Commission payment –
(INDIRECT TAXES)
A Company is to the distribution of surance products . Various methods are adopted for Sellg the same. Company has appoted various Sub agents for the distribution of surance products. Sub Agents raises the Debit note on the company to charge the commission. Whether this sub agent whose gross commission collection may beyond Rs. 400000,- , are they liable for Service tax.? Our view is that it is liable for the service tax. Pls give your opion. ' BY: RAKESH GANDHI No answers yet View Answers | Post Answers |
| 1575 |
Feb. 06 2006 |
Revising Audited Balance Sheet on Account of Survey under I.T.Act –
(AUDIT)
Assessee books of accounts were audited u,s 44 AB of I.T.Act and urn of come is also filed with the due date. A Survey u,s 133 A is conducted on busess premises of the assessee and durg the course of survey assessee voluntarily surrenders the outstandg bance payable to creditors as per bance sheet. Now, the I.T.Department has asked to revise the bance sheet by takg the said creditors bances to the capital account of the assessee. Quion: Can a audited books and bance sheet be revised ' BY: P.Ravindranath No answers yet View Answers | Post Answers |
| 1576 |
Feb. 06 2006 |
issue of preference shares to NRI –
(CORPORATE & OTHER LAWS)
issue of preference shares to NRI Shares are to be issued to the person residg at USA procedures for allotment under FEMA and Companies Act ' BY: R.C. Jain No answers yet View Answers | Post Answers |
| 1580 |
Feb. 06 2006 |
Service Tax Credit –
(INDIRECT TAXES)
The Company has not availed Service Tax Credit on put Services durg the Fancial year 2004-05. Is the Company eligible to Cim the unavailed Credit durg the Fancial year 2005-06. ' BY: B.Swaminathan No answers yet View Answers | Post Answers |
| 1584 |
Feb. 06 2006 |
Provisional Balance Sheet –
(AUDIT)
What is the liability of a member case he signs a provisional bance sheet dicatg that these statements are prepared on id basis? ' BY: ABHAY TANDON No answers yet View Answers | Post Answers |
