Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 348 |
Sep. 24 2005 |
Allowability of set off benefit of the past business losses prior to 01-04-2000 against the income of Ay 2001-02 or afterwards –
(DIRECT TAXES)
Whether the carried forward accumuted busess es prior to 01-04-2000 can be set off agast the busess come of years after 01-04-2000 when the busess from which es were carried forward is discontued or closed ? ' BY: P.P.Maiya No answers yet View Answers | Post Answers |
| 352 |
Sep. 24 2005 |
REGISTRATION OF CA IN A DATABASE DIRECTORY –
(COUNCIL DECISION)
A COMPANY IS ENGAGED OFFERG SERVICES OF PROVIDG LIST OF PEOPLE ENGAGED THE PARTICUR TYPE SERVICE,SALES ACTIVITY BY COLLECTG FIXED SUM FROM THE SERVICE PROVIDERS FOR REGISTERG WITH THE THE COMPANY. THE COMPANY SHALL HAVE IDENTICAL TELEPHONE NUMBER. THE PERSON WHO IS TERED AVAILG THE SERVICES, CALLS THE COMPANY AND ASKS PERSONS WHO CAN PROVIDE THE SERVICES. NOW MY QUION IS IF A CHARTERED ACCOUNTANT ENROLS WITH THE COMPANY BY PAYG THE FEES PRESCRIBED WILL BE TREATED AS ADVERTISEMENT WHICH RESULTS PROFESSIONAL MISCONDUCT ? ' BY: MOHAN KUMAR M No answers yet View Answers | Post Answers |
| 337 |
Sep. 23 2005 |
Notes To Accounts –
(AUDIT)
Hi all I wish to know the followg:- 1. Pursuant to which section we are required to prepare notes to accounts to Bance sheet. 2. What all contents are required to be disclosed notes to accounts and is there any Legal Draft of preparg the same. Please reply soon, its urgent Regards Ruchika Ja ' BY: Ruchika Jain No answers yet View Answers | Post Answers |
| 338 |
Sep. 23 2005 |
Service Tax –
(INDIRECT TAXES)
I am currently volved with accounts mataence of Software Technology Parks of dia(STPI) (under Central Govt., Mistry of Communications & technology). They provide Port services (i.e. ternet connections to clients. Some clients are 100% E.O.U. units, and use the ternet services for servicg foreign clients and earn come foreign exchange, and cim that they are exempt from Service tax. Are these clients of STPI justified cimg exemption ? ' BY: Thosar Ajay Dinkar No answers yet View Answers | Post Answers |
| 343 |
Sep. 23 2005 |
Applicability of Service Tax –
(INDIRECT TAXES)
Can these be covered under service tax gamut? The centive is paid to dealer of vehicle dealers. The amount is paid to Distributors or wholesellers of pharmaceutical products. IS this service? Can provision of Busess Auxiliary Services be attracted? IS it the activity of sales or promotion of goods? Can it be said that, the transaction is on prcipal to prcipal basis and no service is provided? Department wishes to issue notices. What should be the exact w view and defence? ' BY: rahul No answers yet View Answers | Post Answers |
| 324 |
Sep. 22 2005 |
WHETHER A RETAINER C.A. LIABLE FOR SERVICE TAX –
(INDIRECT TAXES)
PRACTICG C.A.IS A DIRECTOR A PVT. LTD.WHO IS A PARTNER ONE FIRM.COMPANY HAS APPOTED THIS DIRECTOR AS AUTHORISED SIGNATORY WHO ACCEPTS PROFESSIONAL CHARGES FROM THE FIRM ON MONTHLY AERSHIP BASIS.HE SIGNS AS FOR PARTNER .. FOR PVT.LTD. .. DIRECTOR.WHETHER THIS WILL BE LIABLE FOR SERVICE TAX WHEN RECEIVED ON MONTHLY BASIS.HE CAN NOT TERM THIS RECEIPT AS A DIRECTORS REMUNERATION BEG A PRACTICG C.A. (EVEN THOUGH SERVICE TAX IS NOT APPLICABLE ON IT)& MALY IT IS NOT RECEIVED FROM THE COMPANY. VIDE NOTIFICATION NO.57,98-ST DATED 7,10,98(APPE.23.1)ONLY AUDITG & ACCOUNTG FUNCTIONS OF A C.A. ARE SUBJECT TO S.TAX. WHICH THIS CASE ARE NOT PROVIDED BY HIM AT ALL BUT AUDITORS & STAFF ARE THERE TO TAKE CARE OF IT. ' BY: VILAS SOMAN No answers yet View Answers | Post Answers |
| 333 |
Sep. 22 2005 |
TAX AUDIT? –
(DIRECT TAXES)
WHETHER EVENT MANAGEMENT CONSULTANTS, PERSONAL ION CONSULTANTS, MARKETG SUPPORT CONSULTATNTS ARE LIABLE FOR TAX AUDIT IF THEIR RECEIPTS EXCEEDS RS. 10 CS. VIPUL BARANWAL MOB. 9811005995 ' BY: VIPUL BARANWAL No answers yet View Answers | Post Answers |
| 304 |
Sep. 21 2005 |
agm & filing of return of Income tax. –
(CORPORATE & OTHER LAWS)
A public limited company requs the ROC for extension of time (three months allowed U,s.166 of the Companies Act) assumg the extension will be granted, tax audit U,s 44 AB of the bcome tax act has to be done on the company and urns to be filed before 31st.Oct. Can the company file the come Tax urn on time without the AGM beg held (sce the Bance sheet has to be approved the AGM).Kdly crify. thanks & regards ' BY: Ashok Duraisamy No answers yet View Answers | Post Answers |
| 305 |
Sep. 21 2005 |
action against non disposal of application of rectification by A.O. –
(DIRECT TAXES)
Assessee received the timation u,s 143(I) of come tax Act . On obersrvation it is noticed that ter on refund has not been given as per w . We moved an application for rectification under section 154 of I.T.Act . Assessg Officer even after passg of more then 6 months ,has not passed any of rectification . At present we can not make an appeal to C.I.T. ( A) because time period for filg appeal has expired . Now what course of action should we taken . Anil Kumar Gupta ' BY: Anil Kumar Gupta No answers yet View Answers | Post Answers |
| 309 |
Sep. 21 2005 |
taxation of US64 proceeds received from the administrator of Specific Undertaking –
(DIRECT TAXES)
I am of the opion that the proceeds received from US 64 bonds received by the Admistrator of the specified undertakg of the UTI are exempted under Sec.10. Kdly crify ' BY: Govindaraju No answers yet View Answers | Post Answers |
| 310 |
Sep. 21 2005 |
8.5% relief bonds –
(DIRECT TAXES)
8.5% relief bonds issued by RBI, are tax free bonds? or taxable bonds? kdly crify ' BY: Govindaraju No answers yet View Answers | Post Answers |
| 313 |
Sep. 21 2005 |
Does TDS rate under DTAA should be added for Surcharge and Edu Cess –
(DIRECT TAXES)
While deductg tax at source for non-rent companies,dividuals fallg under DTAA countries, the rate given by relevant DTAA Agreement is the fal rate or shall it be added with Surcharge and Cess like we do respect of local payments? The p readg givhe idea that DTAA rate is fal and no need to add any surcharge or cess. Please crify ' BY: DHARMALA VENKATA RAMANA MURTHY No answers yet View Answers | Post Answers |
| 317 |
Sep. 21 2005 |
whether F& O turnover be considered for tax audit purposes –
(AUDIT)
whether the turnover made the futures and options, will be conred as turnover for the purpose of tax audit. my client had made a turnover of 4 crores this section. whether it will be treated as specution busess and only the net day + or - will be conred or the total turnover will be conrd. ' BY: suresh babu.n.v No answers yet View Answers | Post Answers |
| 303 |
Sep. 20 2005 |
MEANING OF PROFESSION FOR TAX AUDIT? –
(DIRECT TAXES)
WHETHER PROFESSION MEANS THE PROFESSIONAL SPECIFIED UNDER SECTION 44AA OR IT CLUDES ALL THE PROFESSIONALS. WHETHER PUBLIC ION CONSULTANTS, MARKETG SUPPORT CONSULTANTS ARE LIABLE FOR TAX AUDIT IF THEIR TURNOVER EXCEEDS RS. 10 CS ' BY: VIPUL BARANWAL (MOB. 09811005995) No answers yet View Answers | Post Answers |
| 286 |
Sep. 19 2005 |
Levy of Surcharge –
(DIRECT TAXES)
Levy of Surcharge - on dividuals - Assessment Year 2004-05 Assessee is an dividual and reported a Total come of Rs. 4.50 cs and an agricultural come of Rs. 4.50 cs. Whether the assessee is liable for surcharge? [Even the departmental software levied surcharge all such simir cases and it is hoped that departmental officials cannot mend with automatic computations such as surcharge, cess, tax, ter] ' BY: N. Balavenkatesan No answers yet View Answers | Post Answers |
| 290 |
Sep. 19 2005 |
Charging of interest to profit and loss a/c if not charged by bank as a/c being NPA –
(AUDIT)
The client, pvt. ltd. co. has taken loan that has become NPA for bank. Bank has not charged ter. Assessee cims ter will not be charged i.e. provided for as not charged by bank. what should be the position for ter charge to the profit and account. Can audit report be qualified. ' BY: rahul godbole No answers yet View Answers | Post Answers |
| 292 |
Sep. 19 2005 |
FBT on reimbursement of medical expenses –
(DIRECT TAXES)
Dear Sirs, Please refer the crificatory circur on FBT (8,2005), agast query no. 69, what is its tent,coverage? sce the povisio (ii) to sec 17(2)(vi) talks about approved hospitals but there is no limit of Rs. 15,000 and the povisio (V) to sec 17(2)(vi) does not talk about approved,unapproved hospitals but there is a limit of Rs. 15,000. Kdly also elighten under what head will the medical bills reimbursement be covered and its treatment under FBT? ' BY: Deepak Azad No answers yet View Answers | Post Answers |
| 293 |
Sep. 19 2005 |
Form 26QA –
(DIRECT TAXES)
Where to file Form 26QA, and is there any data structure for above urn, st date of filg is 30-09-2005 for june quater urn. Is any software avaible ' BY: Vikas Khanna No answers yet View Answers | Post Answers |
| 279 |
Sep. 18 2005 |
why cash system for service tax? –
(INDIRECT TAXES)
For all other tax ws mercantile system is followed,Namely, sales tax , VAT,Excise, come Tax etc.Then why cash system for tax payment for service tax only? If it is to save small assessees, it is high time to move to mercantile system sce small assessees are now exempt. ' BY: TONY.M.P. No answers yet View Answers | Post Answers |
| 280 |
Sep. 18 2005 |
TAXATION UNDER CAPITAL GAINS - DEVELOPMENT OF RESIDENTIAL PROPERTY –
(DIRECT TAXES)
There have been several doubts over Capital gas taxation respect of an assessee givg his,her rential property for development. My query is as under: An assessee havg a rential property, enters to a development agreement with a builder for construction of rential fts. Is it correct?: The value of fts allotted to the assessee is taken as deemed value of sale conration of his,her property, wherefrom dexed Cost of acquisition, Exemption U,ss. 54 and 54EC are cimed. The ed query here is, if the assessee as more than one ft for himself, still can he cim exemption U,s. 54 for more than one ft. The anology is that if an assessee s,constructs a rential property as per Sec. 54, consistg of more than one portion or unit, he,she is very much entiltled to exemption U,s. 54. Then why not the assessee can cim if he,she is allotted more than one ft the same buildg? Kdly enlighten me over the subject. Thankg the stitute for givg an excellent opportunity of teractg with the members. ' BY: B. NAGESH No answers yet View Answers | Post Answers |
