Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5987 unanswered question(s) — Showing 5681–5700
| Que. Id | Date | Description |
|---|---|---|
| 1125 |
Dec. 23 2005 |
captial gain tax liability on conversion of preference shares into equity shares –
(DIRECT TAXES)
Whether conversion of preference share capital to equity share capital amounts to transfer of preference share capital and as such, liable for capital ga tax? if so, how the sale conration of preference shares shall be arrived so as to calcute capital ga tax u,s. 48 of the IT Act? ' BY: jiten shah No answers yet View Answers | Post Answers |
| 1126 |
Dec. 23 2005 |
Allowability of losses incurred in a project , if project of a company is not commissioned –
(DIRECT TAXES)
We had a project our compnay & the same was to be implemented over a 18 month period. However, after vg about 50 cs, we could not raise the bance amt. Hence project was shelved & the company faced liquidity crisis. Now ITO is scrutisg the urns & disallowg expenditure sayg that the same should be Capitalised & cannot be treated a . Please advise & High Court & Supreme court cases ' BY: Sunil Shamrao Patil No answers yet View Answers | Post Answers |
| 1128 |
Dec. 23 2005 |
SERVICE TAX ON TRANSPORTATION OF GOODS. –
(INDIRECT TAXES)
A Company has transported goods through transport agency . Tax was collected by the transport agency and he has remitted. As per the provisions of service tax respect of goods transported through transport agency, if the consignor or the consignee comes under any one of the seven specific category then transport agency need not pay service tax. But the service agency has collected and paid the service tax from the Ltd. Company. Sce the service tax has already paid by the transport agency does it necessary for the company to pay service tax respct of that amount. Would it not amount to duplication. Here it has to be noted that CENVAT credit if availed then tax has to be on the 100% of the valule of the transported amount and the benefit of 75% allowance would be lost. I requ to read the query 1179 and give me a clear application please. ' BY: P.S.RAJARAM No answers yet View Answers | Post Answers |
| 1129 |
Dec. 23 2005 |
Deduction of Intt U/s 24 of IT Act,1964 –
(DIRECT TAXES)
Friends, Pls let me how to calcute the ter on house loan we should calcute when a company is givg house loan to its employee and they are recoverg the prciple amount first from the stallment. Whether the full amount of stallment be come under Sec 80c ' BY: VARUN No answers yet View Answers | Post Answers |
| 1131 |
Dec. 23 2005 |
INPUT SERVICE TAX DISTRIBUTION CHALLAN –
(INDIRECT TAXES)
AS PER CENVAT CREDIT RULES 2004 THE HO, REGIONAL OFFICE RECEIVG PUT SERVICES CAN DISTRIBUTE ITS SERVICES TO THE MANUFACTURG UNITS.HOW PUT SERVICES RECEIVED SHOULD BE DISTRIBUTED AMONG THE MANUFACTURG UNITS? IS IT COMPULSORY TO MAKE SEPARATE PUT SERVICE DISTRIBUTION CHALN FOR EACH BILL OF PUT SERVICES? WHAT IS THE REASIONABLE BASIS FOR THE DISTRIBUTION OF PUT SERVICES? ' BY: VISHAL THACKER No answers yet View Answers | Post Answers |
| 1134 |
Dec. 23 2005 |
DEPRECIATION –
(DIRECT TAXES)
One of my client made additional payment through out of court settlement to macheries suppliers. Though he had already paid it to supplier but supplier denied for the same.My client its fairness capilised this additional payment to cost of mache and cim dep accordgly.Now AO neither allowg dep on this additional payment nor treatg it as a revenue exp .I am of the view that either dep should be allowed or additional payment be treated as revenue exp. Please enlighten me on this matter and cite relevent case w if any, because case w is must to convience to AO ' BY: MUKESH KUMAR KABRA No answers yet View Answers | Post Answers |
| 1115 |
Dec. 22 2005 |
sub section 10 of section 80 IB –
(DIRECT TAXES)
(i) Who is entitled to exemption- developer(builder), owner or both? (ii) If some of the units have built-up area exceedg the prescribed limit of 1000,1 sq. ft. whether proportionate deduction will be allowed or no deduction will be allowed? ' BY: NAVEEN KUMAR MITTAL No answers yet View Answers | Post Answers |
| 1117 |
Dec. 22 2005 |
Assessment of cases when law is finally decided by court. –
(DIRECT TAXES)
Employees association of our company has challenged Validity of levyg House Accommodation perk High Court. & Subsequently court has granted stay to deducted Tax on House Accommodation perk. My query is: 1) If subsequently plea of Employees Association treated as valid,unconstitutional then can come tax authority issue notice to Employer for short deduction of tax (TDS) 2) If Ans to 1 is Yes then can we recover this tax from our employee 3) if Ans to 1 is No then can reassessment of come of employess can be done? (Under which section?) & Time limit (from today to date of fal ) for such assement. i.e. assessment of cases when w is fally decided by court. ' BY: rutuparna deshpande No answers yet View Answers | Post Answers |
| 1118 |
Dec. 22 2005 |
Liability of service tax –
(INDIRECT TAXES)
Facts of the case- Firm has entered an agreement with public ion agency (for arrangg press confrences, writg articles etc.). Under the terms firm will pay fixed commission + actual expenditure curred for arrangements (for eg. hotel bill, travel bill). Quion- 1.Wheather service tax is payable on reimbursemnet of expenses to the service provider ? 2. Whether TDS would be deducted by firm. ' BY: Tanuj Mishra No answers yet View Answers | Post Answers |
| 1122 |
Dec. 22 2005 |
Applicability of Research & development Cess –
(MISC.)
Whether R&D Cess is applicable on reimbursement of debit note with regard to sary of foreign technical deputed dia from holdg Compant situated Abroad. ' BY: Atul Kumar jaiswal No answers yet View Answers | Post Answers |
| 1091 |
Dec. 21 2005 |
service tax recovery from service receiver under Financeact,1994 & service tax rules –
(INDIRECT TAXES)
if a service provider raises bill cludg service tax @10.2% or say gross bill cl.service tax ,and thereafter service receiver denies,refuse to pay service tax as per bill raised as above then under which rule of service tax rules or under which section , the service provider can recover service tax from the service receiver. ' BY: ANIL SAMAR No answers yet View Answers | Post Answers |
| 1093 |
Dec. 21 2005 |
Transfer of shares –
(DIRECT TAXES)
Dear Members We hold 100% shares of our subsidiary based US which we now want to sell to another subsidiary of ours dia. These shares were acquired 1998-99 dolrs as the paid up capital is dolrs of the US company. As per my understandg this transaction will be regarded as transfer for capital gas. Also we will have the benefit of dexation from 1998-99 to 2005-06 FY is this abaove understandg correct? Please advice if any casew is there please enclose that. B Regards Rohit Khare ' BY: Rohit V Khare No answers yet View Answers | Post Answers |
| 1099 |
Dec. 21 2005 |
whether building come under the provision of VAT of Delhi –
(INDIRECT TAXES)
My client is busess of Real ate. he took nd from the owner and developg the same. he get permission from the concern department his name. now he is developiong the plot and giveg contract to contractor for the entire civel work. this case I want to know about followg 1. Is deveoper is liable for VAT when he sale buildg developed by him? if yes then whether he cim VAT charged by the contractor. ' BY: Aishwarya Goyal No answers yet View Answers | Post Answers |
| 1075 |
Dec. 20 2005 |
Recent Amendmants to IT Act –
(CORPORATE & OTHER LAWS)
st week, the parliment was said to have passed the bill to amend the IT Act which was troduced on 1st Dec 2005. I am under pressure of recovery of demand g to one of the amended sections. Can you enlighten me whether the amendments have taken effect and if so w.e.f which date? The demand beg rge, the A.O. is threateng attachment on a dauly basis though the amendment has been passed. Does this aga require the assent of the Prent to take effect? ' BY: Sudhakar Rao No answers yet View Answers | Post Answers |
| 1079 |
Dec. 20 2005 |
ROC Fees for filling Form No. 23B (Notice of Auditor) –
(CORPORATE & OTHER LAWS)
Please crify whether ROC fees is payable at the time of fillg Form No. 23 B [Notice of Auditor u,s 224(1A)] ' BY: AJAY SHARMA No answers yet View Answers | Post Answers |
| 1080 |
Dec. 20 2005 |
Rate of Depreciation as per Income Tax on Chimney –
(DIRECT TAXES)
a Thermal Power House, a chimney havg height of 80 metres is stalled for takg out fumes to the open sky. Whether Chimney can be treated as Air Pollution Equipment? Whether 100% rate of depreciation can be cimed? Jayesh Shah ' BY: Jayesh Shah No answers yet View Answers | Post Answers |
| 1084 |
Dec. 20 2005 |
CAN THE A.O QUESTION THE SOURCE OF INCOME FOR THE INCOME FROM OTHER SOURCES? –
(DIRECT TAXES)
IS THE A.O HAVG THE POWER TO QUION THE COME UNDER THE HEAD COME FROM OTHER SOURCES WHICH IS A TAXABLE COME.ARE THERE ANY JUDGEMENTS FOR OVERCOMG THIS OR ANY CIRCURS FOR THIS? EXAMPLE:-THE HAS THE COME FROM PYG CARDS WHICH CANNOT BE SHOWN HE SIMPLY ADMITS HIS COME AND PAYS TAX.DOES THE A.O HAS THE POWER TO QUION HIS SOURCE OF COME. ' BY: N.S.GUPTA No answers yet View Answers | Post Answers |
| 1068 |
Dec. 19 2005 |
PREPARATION OF PARTNERSHIP DEED –
(DIRECT TAXES)
WHETHER IT IS ALLOWED TO PREPARED THE PARTNERSHIP DEED ON THE STAMP PAPER , THE NAME OF PARTNER STEAD OF NAME OF FIRM ' BY: VIJAY L RATHOD No answers yet View Answers | Post Answers |
| 1072 |
Dec. 19 2005 |
AUDIT IN INDIVIDUAL CAPECITY –
(COUNCIL DECISION)
IF A PRECTICG C A IS PARTNER CA FIRM CAN HE DO TAX AUDIT HIS DIVIDUAL CAPICITY THANKS & REGARDS RAKESH PORWAL UDAIPUR ' BY: Rakesh Porwal No answers yet View Answers | Post Answers |
| 1066 |
Dec. 18 2005 |
service tax applicabilitiy on transportation charges paid for earth filling to tractor owners –
(INDIRECT TAXES)
My client is a civil works contractor. Transproation charges are paid by him to tractor owners for brgg the earth to the site. He books these charges as earth fillg charges sce he is not givg any separate amount for the earth. The charges paid per round are Rs. 600. Sgle tractor owner makes 3-5 round per day. i.e. on a sgle day total payment made to one tractor owner comes to 1800-3000. My query is 1. whether payment made to these tractor owners is liable to service tax. 2. for the purpose of exemption under notification 34,2004 dividual consignment will be consignment one round or consignment durg the day (keepg view contract is given for the all the rounds not for the sgle round). 3. Whether he is correct bookg these total amount as earth filg exp. ' BY: sandeep jain No answers yet View Answers | Post Answers |
