Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5987 unanswered question(s) — Showing 541–560
| Que. Id | Date | Description |
|---|---|---|
| 21053 |
Mar. 18 2023 |
Partial COP - Receipt of professional fees and Salary both –
(MISC.)
I am Partial COP Holder who is currently full time employed with a CA Firm. I also wish to have professional fees income towards Consultancy from another firm. is that Possible ? in partial COP, i will not be carrying out any attest function. BY: ROHIT SATYANARAYAN TAPADIYA No answers yet View Answers | Post Answers |
| 21051 |
Mar. 17 2023 |
Deduction of donation u/s 80G by employer –
(TDS/TCS)
Dear Sir, can employer take in to consideration the donation while computing the TDS on salary of employee?. Thanks & Regards Praveen BY: CA. Praveen Gupta No answers yet View Answers | Post Answers |
| 21049 |
Mar. 16 2023 |
Reverse charge on commission –
(GST)
Whether a firm paying commission to a commission agent(unregistered) and paying rent(commercial property) to unregistered landlord is liable to pay Reverse charge @18% BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 21050 |
Mar. 16 2023 |
151793 –
(AUDIT)
A company initiated its IPO application procedure during FY 2021-2022. It received approval for DRHP in November 2021 with a validity of 1 year i.e. by November 2022 to file the RHP and complete the listing procedure. Thus, the expenses incurred up to 31/03/2022 were treated as prepaid expenses and showed under current assets due to the pendency of completion of the listing procedure. Thereafter, the company incurred further expenses during FY 2022-2023 towards the IPO application procedure. These expenses were also treated as prepaid expenses and were shown under current assets. However, the company could not file the RHP and complete the listing procedure within the stipulated time period of 1 year i.e. by November 2022. Need guidance as to how the expenses which were treated as prepaid expenses should be accounted for in the financial statements as of 31/03/2023. Will they be considered as regular revenue expenses or treated as exceptional items or should be considered as Misc. Asset and be amortised as deferred revenue expense over a period. BY: Harpreet Singh Ghai No answers yet View Answers | Post Answers |
| 21048 |
Mar. 13 2023 |
212760 –
(DIRECT TAXES)
Plse confirm "whether show cause notice is issued now for the AY 2012-13 to reopen the case U/s. 148" is valid..? BY: CA. M. Santhosh Reddy No answers yet View Answers | Post Answers |
| 21046 |
Mar. 10 2023 |
Linking of PAN and Aadhar –
(DIRECT TAXES)
A farmer is having only agriculture income and age 70 years. He is not filing any Income Tax Return . Is he required to link PAN and Aadhar . BY: samirkumar gokulbhai kasvala No answers yet View Answers | Post Answers |
| 21047 |
Mar. 10 2023 |
GST registration - Agriculturist –
(GST)
A person is an agriculturist and having turnover from agriculture Rs 19,99,999. He has business Service income turnover of Rs 2 lakh. What is the position of requirement to take GST registration because of amendment in Finance bill 2023 in Section23 with retrospective effect from 01.07.2017? Show Less BY: Sivaraman A.R. No answers yet View Answers | Post Answers |
| 21045 |
Mar. 08 2023 |
TAXABILITY U/S.56(2)(VI) –
(DIRECT TAXES)
Taxability U/s.56(2)(VI) Dear Colleagues Please clarify on the following points: Whether a Male Donor can settle his Immovable Property infavour of his Grand Daughter (Daughter’s Daughter) and claim exemption 56(2) of the Income Tax Act. Assuming the Sub Registrar collects Stamp Duty on the Settlement Deed on treating it as Sale of Property, whether the assessee would be denied exemption on this account? A.S. Raman Chartered Accountant BY: A S RAMAN No answers yet View Answers | Post Answers |
| 21044 |
Mar. 05 2023 |
Separate registration under same PAN –
(GST)
A person has applied for separate GST registration against same PAN as he is already having another GSTIN against same place of business.New business is different from old one.Hence separate trade licence has been obtained under separate trade name. GST dept is saying that second registration under same PAN in same place of business in same premises is not allowed under rule 11 od CGST Rules.But fact is that client will carry different businesses in different floors with separate accounting system.How to go about it ?? Will he go for amendment of existing RC with combined name?? If that be so, can he avail ITC of old business in his new one ?? BY: SUDIP KUMAR MUKHOPADHYAY No answers yet View Answers | Post Answers |
| 21043 |
Mar. 03 2023 |
Interest earned from CPF fund in Singapore –
(DIRECT TAXES)
A person is having Central Provident fund (CPF) in Singapore when he was in employment there. Now for FY 23-24 his status will become Resident and Ordinarily resident. CPF fund lies in Singapore only. Whether interest earned during FY 23-24 for CPF in Singapore will become taxable in India? Is there any exemption available? BY: Sivaraman A.R. No answers yet View Answers | Post Answers |
| 21041 |
Feb. 27 2023 |
075284 –
(GST)
As it is understood that a GTA has to exercise an option for either FCM or RCM for making supplies in a financial year. But what are the remedies available to a assessee who have supplied services under both FCM and RCM in a given period. FY 17-18, 18-19 and 19-20 Is there any case law on this issue? BY: sanjay kumar agrawal No answers yet View Answers | Post Answers |
| 21042 |
Feb. 27 2023 |
Change in Proprietor –
(GST)
Is proprietor can be changed in GST ? Relevant circular/ guidelines / notification, if any BY: SURAJ KUMAR CHOUDHARY No answers yet View Answers | Post Answers |
| 21040 |
Feb. 25 2023 |
AMT Credit in case of Change in PSR in Partnership Firm –
(DIRECT TAXES)
Whether AMT Credit will be allowed to a Partnership Firm In case of Change in PSR in the Partnership Firm in the subsequent year ? BY: Gaurav Kumar Baranwal No answers yet View Answers | Post Answers |
| 21039 |
Feb. 24 2023 |
RECTIFICATION UNDER SEC.154 TO CHANGE THE RETURN FILING SEC. –
(DIRECT TAXES)
My client is a partner in the firm and that firm is liable to audit. But while filing his individual return, he was selected " not liable to audit" option and filed under Sec 139(4) .He was opted for Sec 115BAC also. So Department assessed return with demand (without considering the Sec.115BAC). If we try to file rectification, the error message shows " There is a change in the return filing section type when compared to input in return for which the rectification is initiated. Therefore the rectification request can not be entertained ". How to rectify this mistake in the return. BY: PONNUSAMY R No answers yet View Answers | Post Answers |
| 21037 |
Feb. 20 2023 |
Certified Balance sheet –
(AUDIT)
Whats the difference between CA certified Balance sheet and Audited Balance sheet BY: SURAJ KUMAR CHOUDHARY No answers yet View Answers | Post Answers |
| 21038 |
Feb. 20 2023 |
UTGST PAYMENT –
(GST)
How to Generate UTGST challan (Tax on providing international services) BY: SURAJ KUMAR CHOUDHARY No answers yet View Answers | Post Answers |
| 21036 |
Feb. 17 2023 |
Charging of GST –
(GST)
Dear all, One of our clients supplies goods & services to local PANCHAYAT SAMITY & BLOCK DEVELOPMENT OFFICER [BDO]. He is not charging GST separately in his GST invoice.On the other hand concerned PANCHAYAT SAMITY & BDO deducts GST TDS u/s 51(1) of GST Act @ 1% and income tax TDS u/s 194C and properly uploads the same. Query :: 1] whether concerned client is doing the right thing by not charging GST ?? 2] If not,what will be the actual GST rate that he should charge ??? Please advice. BY: SUDIP KUMAR MUKHOPADHYAY No answers yet View Answers | Post Answers |
| 21035 |
Feb. 16 2023 |
Annual Performance Report APR for Overseas Subsidiary –
(INTERNATIONAL BUSINESS)
A Ltd has Subsidiary outside India in Mauritius whose merger got approved from 1.4.2021, where Merger scheme approval got on 1.8.2022 from NCLT and accordingly Financial of 2021-22 of A Ltd has been made by incorporating such merger. Now, Whether APR of subsidiary under FEMA need to file for the FY 2021-22, where due date also not over or get over. Please guide where merger schemes are having retrospective effect and compliances that should look into . BY: Pankaj Kumar Sharma No answers yet View Answers | Post Answers |
| 21034 |
Feb. 15 2023 |
GST on online tuition provided outside India –
(GST)
I would like to get an expert advice from you regarding my doubt about GST computation of a firm providing online tuition services to students, mostly NRI students residing abroad. As parents of these students are working abroad, they transfer tuition fees in Indian Rupees from their NRE A/c. Since the payments are received in Indian Rupees, this cannot be considered as export of services. So I assume that this falls under taxable services liable for GST. My query is whether IGST is applicable and if IGST is applicable how to disclose place of supply in B2C of GSTR1. BY: JOBIN BABU No answers yet View Answers | Post Answers |
| 21032 |
Feb. 14 2023 |
Taxability U/s.56(2) of the Income Tax Act –
(DIRECT TAXES)
An Assessee had executed a Settlement Deed infavour of his Foster Daughter. The assessee had no issues. No Legal adoption was made for this Daughter. The Settlement was relating to immovable property being an Apartment. The Registering Authority while Registering the Settlement Deed had collected prevailing Stamp Duty as applicable for Regular Sale Deed instead applicable to Gift Deed. The Donee is the Daughter of Donor’s Wife’s Brother (Brother in law’s daughter) The Donar had retained Life estate to possess and enjoy the said property and enjoy all income derived from the property during the term of his Nature Life. As per Section 56(2) the List of Relatives mentioned Wife’s Brother only. No specific relevance to Wife’s Brother’s Daughter. More over the Registering authority had collected the Stamp Duty on the property value. The Donee’s Name had Reflected in Encumbrance Certificate of the Property. Please Clarify: 1) Whether the settlement made was exempt under U/s.56(2) of the Income Tax Act. Since Value exceeded Rs.50,000/- 2) Whether Lineal Ascendant or descendant of the Individual includes Wife’s Brother’s daughter 3) While Registering the Gift Deed the Registering Authority had collected Regular Stamp Duty as Applicable instead as applicable to Gift Deed. A.S. RAMAN BY: A S RAMAN No answers yet View Answers | Post Answers |
