Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 747 |
Nov. 05 2005 |
TAX AUDIT OF SHARE TRANSACTIONS? –
(DIRECT TAXES)
SHARES, SCRIPTS PURCHASED & SOLD ON DELIVERY BASIS(D-MAT A,C.) WHETHER 40 CS TAX AUDIT LIMIT SHALL BE APPLICABLE. IF SHARES PURCHASED AS DERIVATIVE (DAILY PURCHASE & SELL) WHETHER TAX AUDIT IS APPLICABLE FOR WHOLE RS.40 CS TURNOVER OR NET PROFIT OR EARNED ON DAILY BASIS i.e. TOTAL PROFIT OR ABOVE RS.10 00 000 (10 CS AUDIT ON RECEIPTS BASIS). CAN ANY ONE CRIFY ME ON THIS. PRAKASH GATTANI, CA, CELL:94221-87101 ' BY: PRAKASH GATTANI No answers yet View Answers | Post Answers |
| 751 |
Nov. 05 2005 |
Insurance Surveyor licence... –
(MISC.)
I learned that Chartered Accountants can act as surance Surveyor and has to obta licence from IRDA. Can learned members enlighten me abt the procedural requirements...? ' BY: ganesh No answers yet View Answers | Post Answers |
| 730 |
Nov. 02 2005 |
REVISED RETURN U/S 44AE –
(DIRECT TAXES)
A friend of me is owng a tanker(only one Tanker) & used to file his urn through a commercial accountant. For the Assessment year 2005-06 I.T. urn was filed (before due date) decrg a net profit of Rs. 98,950,-. On a scruity of the fancial statements many mistakes were noticed. Whether he can file the revised urn by decrg come u,s 44AE? When consulted the ITO,he is of the stand that revised urn can not be filed by changg the method of filg but a revised fancial statement can be filed by rectifyg any rial misstatements or omissions. For my client, a revised urn u,s 44AE would have been the better option. ' BY: Ashok No answers yet View Answers | Post Answers |
| 723 |
Oct. 30 2005 |
Tax Audit of trusts-criteria –
(DIRECT TAXES)
How is the applicability of audit requirement u,s 44AB of IT act case of a trust runng a cha of colleges? Whether the requirement is based on come criteria or fees received durg the fancial year? ' BY: Ashok No answers yet View Answers | Post Answers |
| 712 |
Oct. 28 2005 |
Service Tax on Program Producer –
(INDIRECT TAXES)
A program producer makes films for multi national companies meant for a. Sales of their products b. For their ternal usage ( trag, cusotmer presentation etc) some cases he does only a part of the job such as direction, arrangg for artists etc for another clet. For the films used to sell their proudcts they would be liable when they produce. Would they also be liable when they provide part of the service? ' BY: Madhukar N Hiregange No answers yet View Answers | Post Answers |
| 716 |
Oct. 28 2005 |
whether statutory auditors have to sign on Part IV of the Schedule VI –
(AUDIT)
whether statutory auditors have to sign on Part IV of the Schedule VI ' BY: Venkata Suresh Kumar Beesa No answers yet View Answers | Post Answers |
| 719 |
Oct. 28 2005 |
TDS on Domain Name REgn –
(DIRECT TAXES)
Please crify whether TDS is required to be deducted for payments made to register Doma Names. If yes, whether to deduct u,s 194C? ' BY: SURESH S NEMANI No answers yet View Answers | Post Answers |
| 710 |
Oct. 27 2005 |
Section 44AE –
(DIRECT TAXES)
A friend of me is owng a tanker & used to file his urn through a commercial accountant. For the Assessment year 2005-06 I.T. urn was filed decrg a net profit of Rs. 98,950,-. On a scruity of the fancial statements followg mistakes were noticed: a) One TDS certificate omitted. b) Road tax & vehicle surance cimed were higher. c) Receipts from contract to the extent of Rs. 1,28,000,- shown less. d) Rent of Rs. 1,02,000,- cimed though nothg was paid as rent. e) Depreciation not cimed. My doubts: a) Whether he can file the revised urn by decrg come u,s 44AE? b) If the above option is not possible, can a revised urn be filed by cimg the actual expenditure? ' BY: Ashok No answers yet View Answers | Post Answers |
| 703 |
Oct. 26 2005 |
10BA –
(DIRECT TAXES)
can anyone enilghten me that how will the AO will decide whether the goods exported out of dia are of artistic value as mentioned under sec. 10BA ' BY: sumit dhadda No answers yet View Answers | Post Answers |
| 705 |
Oct. 26 2005 |
COMMON PARTNER –
(COUNCIL DECISION)
WHETHER A CHANGE CONSTITUTION TAKES PCE WHEN A CA BECOMESPARTNER ANOTHER FIRM ALSO COMMONLY KNOWN AS COMMON PARTNER. ' BY: A.K.TIBREWAL No answers yet View Answers | Post Answers |
| 684 |
Oct. 25 2005 |
TDS on Service Tax –
(DIRECT TAXES)
Whether service tax charged the bills is subject to TDS? ' BY: PRADEEP CHAWLA No answers yet View Answers | Post Answers |
| 693 |
Oct. 25 2005 |
filling of casual vacancy of auditors –
(CORPORATE & OTHER LAWS)
1)what is the time limit to fill casual vacancy if auditor resigns. 2)what is the step by step procedure? 3)what is penalty if new auditor does not ti roc for his appott. ' BY: swapnil bhandari No answers yet View Answers | Post Answers |
| 680 |
Oct. 24 2005 |
How to Calculate rebate u/s 88E –
(DIRECT TAXES)
Our come cludes STT paid come and other come security busess.How to calcute rebate ion to Icome on which STT has been paid.What will be the treatment of expenditure calcutg come from operastions where STT is paid .And also expenditure can`t be segragated two ddifferent source of come. ' BY: Lalit Singhal No answers yet View Answers | Post Answers |
| 681 |
Oct. 24 2005 |
SERVICE TAX ON ROYALTY? –
(INDIRECT TAXES)
WHETHER SERVICE TAX IS CHARGEABLE ON ROYALTY OR NOT? ' BY: VIPUL BARANWAL No answers yet View Answers | Post Answers |
| 669 |
Oct. 23 2005 |
Penalty U/s 271 D read with sec. 269 SS –
(DIRECT TAXES)
Here is Compnay A(Manufacturer of picides.) Distributer B Dealer C this case the dealer C Issued Cheques , drafts favor of Company A and send these cheques and DDs to company A and tid the distributer B, Distributed B corporated all the entereis his books of accounts by book transfer and issued sale bills to dealer C only for am amonut of 10% of the amount of remitance to A. Bance 90% of the amount remited by C to A still lyg the books of B shown as unscured loan. Q. Wheather the amount lyg as unsecured loan the books of B (Which was sent to A by C directly) are viotion of Sec. 269 SS and can the penalty be imposed U,s 271 D . can these enteries by book transfer be treated as cash transitions. Sec 269 SS that No person shall take or accept any loan or deposit other than by an account payee cheque or a,c payee bank DD. Kdly wrtie and case w. ' BY: vinod Mittal No answers yet View Answers | Post Answers |
| 672 |
Oct. 23 2005 |
44AB Tax Audit –
(DIRECT TAXES)
Turnover,Gross receipts are seperate terms used under audit. If an assesee has made purchases for 75 khs and has effected sales for 10 khs is he attracted by the provisions of Section 44AB to get his accounts audited. Are there any case ws for or agast support of the answers? Ramanan R ' BY: Ramanan R No answers yet View Answers | Post Answers |
| 650 |
Oct. 22 2005 |
Accounting of Expenses –
(CORPORATE & OTHER LAWS)
Can expenses be recorded the books of accounts based on the objective rather than its form? eg. if travellg expenses are curred for the purpose of trag, can the amount of travellg be debited to trag expense? I s there any regutory framework which is beg d (eg Companies Act,SEBI Guideles etc)? ' BY: Krishna Honkote No answers yet View Answers | Post Answers |
| 651 |
Oct. 22 2005 |
How can we see the questions posted earlier in this forum ? –
(MISC.)
Is there any provision this forum through which we can see some earlier quions posted to this forum ? I feel once your quion is out of Ma Screen you cant fd it anywhere.Some person may like to add answer to an existg query which may not has yet got a proper answer. Is it so ????? ' BY: RITESH GUPTA No answers yet View Answers | Post Answers |
| 654 |
Oct. 22 2005 |
tax on income of interest on bank deposit and interest from members of Group housing society working on no profit no loss basis –
(DIRECT TAXES)
a society formed by a govt deparment for construction of fts for its members on no profit no basis has two come, one ter on savign a,c with bank and ter from members on deyed payments. Can these come be setoff agst the expenses cured by the society on sary etc, or the society has to pay tax on these come. My pot is beg a no profit no organisation the society will transfer the fts to its member at cost i.e. direct cost plus the direct cost curred by it for sary conv postage etc. Hence these come should not be treated as come under direct tax also. Kdly provide guidance. thanks ' BY: anuj kumar gupta No answers yet View Answers | Post Answers |
| 660 |
Oct. 22 2005 |
Recognition of Deferred Tax Liability –
(MISC.)
As per AS 22 an enterprise should recognise the deferred tax assets subject to conration of prudence as specified para 15 to 18 of AS-22. Is it required for the enterprise havg both deferred tax assets and liabilty to recognise defrred tax liabilty even where recognition of deferred tax assets has been droped conrg para 17 and 18 of AS-22. ' BY: vikesh agrawal No answers yet View Answers | Post Answers |
