Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 528 |
Oct. 09 2005 |
INTEREST BY HOUSING SOCIETY FOR DELAY IN POSSESSION OF PROPERTY –
(DIRECT TAXES)
I want your help to crify that:- If the development agency like HUDA, PUDA pays any ter for deyed possession of property, Is this ter a capital receipt or a revenue receipt. Is this payment for deprivg off a person to use a property as decided the case of DDA ITO (0531TD-19(ITAT Delhi). Please clearify me the nature of receipt. Also let me know its tax implications and any cases support of that. ' BY: DINESH K. GUPTA No answers yet View Answers | Post Answers |
| 530 |
Oct. 09 2005 |
TDS deducted on excess amount, what is the remedy available and the case law if any. –
(DIRECT TAXES)
Mr.A has an agreement worth Rs. 100000 with Mr.X. But Mr. X says,he is gog to a Rs. 30000.00 and will be payg it only after 8 years, if he likes the work done. Thereby creatg a contgency. Mr. X pays Rs. 70.00 but deducts TDS on Rs. 100000.00. Can Mr. A file his urn showg Rs. 75,000.00 as his come as he is not certa to get the bance amount or will he have to suffer the consequence of TDS beg deducted on higher amt. and show Rs. 100000.00 as come ' BY: Raj No answers yet View Answers | Post Answers |
| 520 |
Oct. 08 2005 |
Deduction of Interest and Principal repayment of Housing loan –
(DIRECT TAXES)
My client is pnng to take a housg loan for construction of first floor. The existg house is the name of his father. He does not have any ownership the property. He will repay the loan.The loan will be taken jot names. Whether he can cim tax benefits without ownership of the property? Whether GPA holder is conred as absolute owner of the property? If father makes a gift deed favour of his son can son cim the tax benefits ? Is it necessary that the son should have ownership at the time of takg loan ? ' BY: Rani Balasubramanyam No answers yet View Answers | Post Answers |
| 495 |
Oct. 06 2005 |
Loss of Books of Accounts –
(DIRECT TAXES)
My assistant had written books of accounts of my client for fancial year 2003-04 usg Tally 5.4 version. Based on this version I had certified the Audit Report U,s 44AB.Now come tax dept.has selected the case for scruty.Mean while I stalled 7.2 version.While Loadg another account, my assistant did not change the file no.This resulted overwritg of the accounts of my client.My assistant assured me that he can rewrite the books of my client with one month.But The come tax officer sistg on producg the books of accounts immediately.Unfortunately the backup flopppy is damaged.What is the course open? ' BY: Mukund Basidoni No answers yet View Answers | Post Answers |
| 500 |
Oct. 06 2005 |
Service Tax assessee opens a new office after obtaining registration. –
(INDIRECT TAXES)
If an assessee, after obtag service tax registration Delhi, open a new office Haryana and reders services from such new office, what are the formalities that need to be complied with assumg that the assessee has centralised billg system? ' BY: AJAY SHARMA No answers yet View Answers | Post Answers |
| 503 |
Oct. 06 2005 |
Taxation of JOINT VENTURE form of organisation –
(DIRECT TAXES)
What are the hitches taxation of Jot Venture? Can somebody refer good books,other soucres like articles this context ? ' BY: M. B. KAPSHE No answers yet View Answers | Post Answers |
| 484 |
Oct. 05 2005 |
Tax refund under D.T.A.A. –
(DIRECT TAXES)
Hi all, If a company has a foreign branch, which is a taxable entity the country of location, can the tax paid by the branch that country be cimed as REFUND dia? dia has a DTAA with that country(Australia). ' BY: Venkat Parasuraman No answers yet View Answers | Post Answers |
| 485 |
Oct. 05 2005 |
565 –
(DIRECT TAXES)
It is reimbursement to the transporter who has paid the same on our behalf ' BY: Priya Bachani No answers yet View Answers | Post Answers |
| 489 |
Oct. 05 2005 |
Applicability of Service Tax –
(INDIRECT TAXES)
Dear Sir One of my client firm is engaged the busess of carriage of passengers by buses. Separate fare is charged from each passenger. Please advise me about the applicability of service tax. The same firm also provides buses for a lumpsum amount for official tours, marriage and other purposes. Whether the abatement avaible for package tours also avaiable on these services. With regards ' BY: Sanjeev Sambher No answers yet View Answers | Post Answers |
| 494 |
Oct. 05 2005 |
Applicability of Sec. 44AB –
(DIRECT TAXES)
One of my client has Sales amountg to Rs. 20 cs durg the F.Y. 2004-05 and Purchases are amountg to Rs. 45 cs durg the year. My quion is whether provisions of Sec. 44AB applicable or not and assessee is required to get his accounts audited or not ? Pl. provide me relevant judgement or reference to any books. ' BY: Ketan Doshi No answers yet View Answers | Post Answers |
| 474 |
Oct. 04 2005 |
Service tax provision on Audit Fees at the time of end of year –
(INDIRECT TAXES)
At close of the year, we have to provide for audit fees. Should we also provide for service-tax thereon at that time ? Bill for fees will be raised ter on and rate of service tax may be different and also what about the payment thereof and put credit.Please carify ' BY: Sunil Garg No answers yet View Answers | Post Answers |
| 478 |
Oct. 04 2005 |
SHARE APPLICATION MONEY –
(CORPORATE & OTHER LAWS)
SHARE APPLICATION MONEY: Q1: UNDER WHICH HEAD SHARE APPLICATION MONEY HELD BY A PRIVATE LIMITED COMPANY SHOULD BE SHOWN? Q2: HOW LONG A PRIVATE LIMITED COMPANY MAY HOLD SHARE APPLICATION MONEY WITHOUT ALLOTMENT OF SHARES. ' BY: GOPAL JI AGRAWAL No answers yet View Answers | Post Answers |
| 480 |
Oct. 04 2005 |
QUESTION RELATING TO TUTION FEES DEDUCTIBLE U/S 80 C –
(DIRECT TAXES)
ABOVE REFERENCE WHETHER TUTION FEES SHOWN THE RECEIPT OF THE COACHG STITUES GIVG COACHG FOR ENGEERG AND IIT ARE DEDUCTIBLE U,S 80 C. IT IS CLEARLY WRITTEN ON THE RECIPT AMOUNT RECEIVED AGAST TUTION FEES. THE STITUTE IS A PRIVATE STITUTE AT KOTA. ' BY: VIPIN GUPTA No answers yet View Answers | Post Answers |
| 455 |
Oct. 03 2005 |
does FBT applicable to Co.operative societies, which are taxed under the status AOP –
(DIRECT TAXES)
A union registered under Co.Operative Societies Actis liable to pay FBT. Plese Crify with reasong. ' BY: kameswara rao chimalapati No answers yet View Answers | Post Answers |
| 465 |
Oct. 03 2005 |
Service tax / Excise duty –
(INDIRECT TAXES)
One Chemical unit gets raw rials for conversion along with with 57 F Chaln under excise rules and after conversion of the rial the chemical unit sends back the fished goods with endorsement on the 57 F chaln. Does this type of conversion work attracts Service tax under Axcilry services? If not under what rule it is exempted? Is there any Excise duty liability for this conversion work Please crify regards Venu ' BY: k.venu No answers yet View Answers | Post Answers |
| 466 |
Oct. 03 2005 |
Section 40A(ia) –
(DIRECT TAXES)
One of my clet was applied for Tan number durg December,04. The Tan number was not allotted. An application made for allottg TAN number durg May 1st Week aga. TAN Number was not alloted upto june 1st week. Our client deducted T.D.S u\s.194 C but could not pay before 31st May, 2005 due to non allotment of TAN number. The banks are not accepted TDS chanas without havg TAN numbers. TDS was paid immeadiately after allotg TAN number durg June,05 itself. As per sec 40 A(ia) expenditure could not be allowed for non payment of T.D.S before due DAte ? What is the remendy for it. Any amendment is proposed now ? Kdly give advise for non disallowg expenditure ? ' BY: Garlapati Satyanarayana No answers yet View Answers | Post Answers |
| 435 |
Oct. 01 2005 |
incident after the signing of the balance sheet –
(AUDIT)
I am achartered accountant and i audited the accounts of a co-op bank and signed the audit report for 2004-05, about one month ago. a few days ago a customer defrauded the bank by 28 khs. do i have to make any comment, on this cident which happened after the audit was over ' BY: S.Easwaran No answers yet View Answers | Post Answers |
| 438 |
Oct. 01 2005 |
Whether a Composition Dealer can give Surety to other dealer under DVAT? –
(INDIRECT TAXES)
Under DVAT, a composition dealer is exempted from filg a suy. Kdly crify, whether he can give his suy to some other dealer? ' BY: AJAY SHARMA No answers yet View Answers | Post Answers |
| 415 |
Sep. 30 2005 |
DEPRECIATION OF INTANGIBLE ASSETS UNDER COMPANIES ACT –
(CORPORATE & OTHER LAWS)
Dear Members I want to know about position of depreciation under companies act case of tangible asss like goodwill, tenancy rights etc. ' BY: PANKAJ KUMAR No answers yet View Answers | Post Answers |
| 418 |
Sep. 30 2005 |
Goodwill arising on Consolidation-Amortised or Tested for impairment –
(DIRECT TAXES)
Whether Goodwill arisg on consolidation needs to be amortised or ted for impairment, as the followg dian Accountg Standards are silent about the same. AS10- does not discuss about amortization of goodwill. AS14-applies only for amalgamation. AS21-silent about amortization of goodwill arisg out of acquisition. AS26- excludes goodwill arisg on account of Amalgamation or on consolidation of fancial statements. AS28-does not talks about goodwill on consolidation. However IFRS suggs goodwill on consolidation needs to be ted for impairment and not to be amortised. absence of any specific method as per dian Accountg Standard which method to be followed. ' BY: Shrenik No answers yet View Answers | Post Answers |
