Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 817 |
Nov. 16 2005 |
FBT –
(DIRECT TAXES)
A Private Ltd Co has taken Keyman surance Policy on the life of one of its directors few years back and the premium paid is debited to P & L A,C every year and allowed as busess expendtiure IT asst. Whether the premium paid the current fiscal attracts FBT? tap v kutti ' BY: tap varadakutti No answers yet View Answers | Post Answers |
| 801 |
Nov. 15 2005 |
Indebtness Causes disqualification to become Auditor Under Section 226(3)(d) –
(CORPORATE & OTHER LAWS)
Extract from the Act,1956 Section 226(3)(d) a person who is debted to the company for an amount exceedg one thousand rupees, or who has given any guarantee or provided any security connection with the debtedness of any third person to the company for an amount exceedg one thousand rupees Quion : 1)Whether the debtedness is anytime durg the fancial year or due at the end of the fancial year. 2)Whether advances given agast expenses for out of pocket expenses etc, are termed as debtedness. ' BY: B. HARIHARA SUBRAMANIAN No answers yet View Answers | Post Answers |
| 803 |
Nov. 15 2005 |
service tax on commission –
(INDIRECT TAXES)
A proprietorship concern is the commission agent of various sugar mills. Whether there is any service tax liability on the proprietorship concern to charge service tax on commission ' BY: ATUL CHOUDHARY No answers yet View Answers | Post Answers |
| 808 |
Nov. 15 2005 |
S.10 B - 100% EOU - procedure –
(DIRECT TAXES)
Dear friends, Thanks to MR.Ajay Kumar, Mr. Vaikundam and Mr. Sivadas Chettoor for crifyg on form 56 G. What is the procedure for gettg approved as 100 % Exported Oriented Undertakg u,s 14 of the dustries ( Developmemt and Regution) Act 1951 Regards M.A.Mohamed Shafi, B.Com. F.C.A. PGDCS shafi78647@yahoo.com ' BY: Mohaamed Shafi No answers yet View Answers | Post Answers |
| 791 |
Nov. 14 2005 |
Capital gain –
(DIRECT TAXES)
If the total come of an assessee cludes only come from capital ga, whether the limit of 100000,- is applicable? i.e. short term ga upto Rs. 1,00,000,- exmpted from tax? ' BY: SHITAL VIPUL VYAS No answers yet View Answers | Post Answers |
| 793 |
Nov. 14 2005 |
Vacation of Office by Director under Section 209A(9) –
(CORPORATE & OTHER LAWS)
Extract from ACT Under Section 209A(9), any default is made is made with regard to spection of books, every officer or director deemed to be vacated his office for a period of five years. Quion: Is the vacation of director is equivalent to and addition to the vacation of office by director under section 283. Why it has not been given under section 283 by referrg to that section 209A(9) as given elsewhere as a reference to the sections ' BY: B. HARIHARA SUBRAMANIAN No answers yet View Answers | Post Answers |
| 795 |
Nov. 14 2005 |
valuation of inventories –
(AUDIT)
A company revalued its Fixed assets from Rs 1,00,000,- to Rs 2,00,000,- if depreciation is calcuted on historical cost it will be 10,000,- and depreciation after revaluation would amount to 20,000,- now for the purpose of ventory valuation which amount is to be conred. If depreciation of Rs 10000 is taken , it wont satisfy the defition of depreciation (i.e., as per AS 6 ). if it is taken otherwise(i.e.,Rs 20000) it wont satisy the defation of cost ' BY: satyam No answers yet View Answers | Post Answers |
| 796 |
Nov. 14 2005 |
FBT on provisions for expenses –
(DIRECT TAXES)
Dear friends I want to know whether there is any specific provision(Section or cuse ) come Tax act which throws some light on whether we have to take to account the provisions for various expenses while calcutg FBT if we have not yet paid for that exp.. eg. some companies provide for superannuation fund but it is paid only once or twice a year so whther we have to pay tax on this amount of Superannuation fund which we have provided for but havent yet paid? ' BY: nishant No answers yet View Answers | Post Answers |
| 788 |
Nov. 13 2005 |
Service Tax –
(INDIRECT TAXES)
Is the Service Tax applicable to the trusts who is givg vessels, furnitures on rent ? It may please be noted that it not givg pce {Mandap} for rent. Whether the trusts are liable to pay service tax ? Please crify ' BY: Vinod H Gundarwala No answers yet View Answers | Post Answers |
| 781 |
Nov. 12 2005 |
Income from house property –
(DIRECT TAXES)
Is the ter exemption given as deduction computg the come from house property the limit on the ter for each house or for each assessee ' BY: sarat No answers yet View Answers | Post Answers |
| 782 |
Nov. 12 2005 |
Taxation under MAT –
(DIRECT TAXES)
Whether Deferred tax expenses is allowed as deduction under MAT? ' BY: Rakesh Damodar Parikh No answers yet View Answers | Post Answers |
| 785 |
Nov. 12 2005 |
Elgibility of broker under irda act –
(OTHER BODIES)
1. what are the conditions to become a BROKER under IRDA ACT. 2. CAN AN AGENT BECOME A BROKER,SUB-BROKER UNDER THE IRDA ACT. WHAT ARE THE CONDITIONS TO ACT AS A SUB-BROKER? 3. IF YES WHOM ARE THEY NOW DOG BUSESS UNDER THE ACT? ' BY: GANESH K A No answers yet View Answers | Post Answers |
| 786 |
Nov. 12 2005 |
Goodwill –
(DIRECT TAXES)
a transaction of slump sale a lump sum amount is paid for acquirg the undertakg. such case the value of dividual assets Less liabilities taken over may not be equal to the conration. My query is 1) what is the treatment for surplus paid , whether it is to be recognised as goodwill? If yes, whether it can form part of the Block of asset under the tangibles for cimg depreciation? 2) Whether any other deduction can be cimed respect of goodwill so acquired ? ' BY: Modit Rastogi No answers yet View Answers | Post Answers |
| 776 |
Nov. 11 2005 |
Tax Avoidance –
(DIRECT TAXES)
Can one employer conr his,her employees as service provider through agreement and pay them after deductg TDS?. The service providers will pay service tax and file their tax urn under the head Profits and Gas from Busess,Profession to cim eligible expenses as deductions and thereby pay less tax. ' BY: Gurudas Saha No answers yet View Answers | Post Answers |
| 774 |
Nov. 10 2005 |
SET OFF OF LOSS ON SALE OF SHARES OF NBFC COMPANY UNDER SECTION 71 –
(DIRECT TAXES)
DEAR PROFESSIONAL FRIEND, A NBFC COMPNAY IS LENDG AND BORROWG MONEY AND THUS EARNG TER. THE COMPANY IS ALSO DEALG SHARES OF QUOTED AND UNQUOTED COMPANY. THE COMPANY HAS EARNED HUGE ON SALE OF EQUITY SHARES OF UNQUOTED COMPANY. PLEASE SUGG ME WHETHER OCCURED CAN BE SET OFF FROM TER COME. REGARDS ' BY: DILIP K SINGHAL No answers yet View Answers | Post Answers |
| 765 |
Nov. 09 2005 |
Carry forward of losses –
(DIRECT TAXES)
Dear All A company had cary forward of busess es. It did not cim the benefit the immediate suceedg year. Can it cim the benefit the next subsequent year with the time frame of teh eight assessemntyears allowed. ' BY: MEERA TANTRY No answers yet View Answers | Post Answers |
| 761 |
Nov. 08 2005 |
accouting entry for refund of income tax –
(FINANCIAL MANAGEMENT)
A company has made prov of rs 100 for fy 02-03 and paid advance tax of rs 50 now there is a refund of rs 3 what will be the accountg entry so that all the accounts g to tax for that year are cleared ' BY: ravi maheshwari No answers yet View Answers | Post Answers |
| 753 |
Nov. 07 2005 |
Do u have details of indian firms Preparing Income Tax Returns for USA Firms? –
(MISC.)
I heard that there ar some dian CA firms gettg outsource work from US firms g to cpmutation of come tax and fillg of IT urns etc. So Dear members can you give me the detaiils of these dian firms or US firms or any mail id,site ed to these works for professional opportunity purpose. ' BY: P.A.K.Patro No answers yet View Answers | Post Answers |
| 756 |
Nov. 07 2005 |
Carry forward of Input Credit in case of Input service distributor –
(INDIRECT TAXES)
Dear Members, My query is that whether put credit of one fancial year which could not be set off or was not cimed can be carried forwrd to the next Fancial year to be set off agast Service Tax ibity of next year. ' BY: Gaurav Jain No answers yet View Answers | Post Answers |
| 758 |
Nov. 07 2005 |
INTEREST FREE LOAN TO A COMPANY BY A SHAREHOLDER –
(DIRECT TAXES)
Can a shareholder advance ter free loan to a private limited company? If so will there be any deemed come the hands of the shareholder. The shareholder is payg ter to the bank. Will the nature change if the money is deposited as a deposit with the company by the shareholder? Will givg ter free loan,deposit contravention of the companies Act? What are the rules this regard. ' BY: JOY No answers yet View Answers | Post Answers |
