Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 131 |
Sep. 02 2005 |
service tax –
(INDIRECT TAXES)
Hi, Please crify whether a consultg engeer is exempt from payg service tax for any work undertaken for an charitable educational trust. ' BY: Ashok Duraisamy No answers yet View Answers | Post Answers |
| 132 |
Sep. 02 2005 |
Gift received at the time of marriage –
(DIRECT TAXES)
on the occasion of marriage the assessee receives cash gifts small denomation amountg to Rs. 00,-. But there is no stamp deed to this effect. He also receives 1,00,000,- gift by cheque from a ive who also gives the gift deed along with it. My query is that is it taxable. ' BY: Shikha No answers yet View Answers | Post Answers |
| 117 |
Sep. 01 2005 |
CAPITAL GAIN –
(DIRECT TAXES)
Dear All, One of my client received by way of Decree of Court some portion of family property on the basis of family settlement deed 1984. But that property was still dispute due to encumberances by other persons on it. The assessee aga went to litigation for gettg his clear right over the property. The Delhi High Court ed the defendants to deposit certa amount with it as compesation to be paid to the ptiff (client) which was deposited as FDR with some bank. Ultily the issue was settled 2004 whereby the client (ptiff) received the aforesaid amount of compensation alongwith ter accrued on the FDR. Issue 1: Whether the litigation cost volved durg the whole episode be allowed as cost of improvement while calcutg LTCG? Issue 2: Whether the ter accrued on FDR received alongwith compensation be treated as come from other sources separately or added to the amount of compensation and treated as sale conration for the purpose of LTCG? ' BY: ankur agarwal No answers yet View Answers | Post Answers |
| 118 |
Sep. 01 2005 |
HRA u/s 10 (13A) –
(DIRECT TAXES)
Mr. X is an employee of ABC Limited. The location of employment as per record is Amritsar. Mr. Xs family is residg at Delhi and he is submittg rent receipt for the house taken on rent for his family, where as he is livg Amritsar for his employment. Please calrify, whether the rent receipt of Delhi House should be conred by employer while computg his tax liability for TDS purpose. Thanks ' BY: Rajesh Kumar No answers yet View Answers | Post Answers |
| 121 |
Sep. 01 2005 |
FBT - Accounting procedure in case the employer wants to pass on the burden to the employee –
(DIRECT TAXES)
Hi case an Employer wants to pass on the FBT burden to the employee,how does he go about it. While makg reimbursement of expenses covered by FBT - say Medical exp - can he deduct the FBT amt and make payment for the bance. Is this allowed as per the FBT w? If not, then how can the burden be passed on to the employee. Thanks ' BY: Anirudh No answers yet View Answers | Post Answers |
| 122 |
Sep. 01 2005 |
Exemption U/s 10B –
(DIRECT TAXES)
This query is protracted to the quety id 137 on the same subject. When the assessee purchases different Macheries and parts thereof dia, he applies his value addition to convert the same to Pnt and Machery for the purpose of say Cement Pnt. The assessee calls this value addition as manufacturg of Engeerg Items. Whether the stand taken by the assessee is tenable? Virander Kr Chauhan ' BY: Virander Kr Chauhan No answers yet View Answers | Post Answers |
| 109 |
Aug. 31 2005 |
Exemption U/s 10B –
(DIRECT TAXES)
Whether an undertakg of a company which is 100% EOU Specified Economic Zone beg engaged the busess of takg staltion of turnkey projects overseas will be entitled for exemption under section 10B. Entire receipts are received convetible foreign exchange and the Pnt and Macheries have been supplied from dia and are beg stalled foreign countries. The projects are like Cement Pnts or Steel Pnts etc. The undertakg have been issued EOU status by SEZ Authorities for manufacturg of Engeerg Items. Kdly sugg. ' BY: Virander Kumar No answers yet View Answers | Post Answers |
| 93 |
Aug. 30 2005 |
What is the procedure to file form 26QA for bankg companies. '
–
(DIRECT TAXES)
What is the procedure to file form 26QA for bankg companies. ' BY: PANKAJ SHARMA No answers yet View Answers | Post Answers |
| 95 |
Aug. 30 2005 |
FBT on Repair, runng (cludg fuel), nance of motor car and depreciation thereon.
Quion:
Motor car –
(DIRECT TAXES)
FBT on Repair, runng (cludg fuel), nance of motor car and depreciation thereon. Quion: Motor car purchased on three years Lease fanace, the quion is whether the stalment( consists of prciple and ter) will be covered under the FBT. It is to be noted that it is just purely a fance of the car and not the lease rent. ' BY: V.K Jain No answers yet View Answers | Post Answers |
| 97 |
Aug. 30 2005 |
CARO Report –
(AUDIT)
What are the changes reportg reqirements under CARO? ' BY: Namita Bhandari No answers yet View Answers | Post Answers |
| 104 |
Aug. 30 2005 |
Pre incorporation exp. of pvt.ltd co borne by Public company –
(CORPORATE & OTHER LAWS)
Dear Sir, A Public company is gog to ur the registration exp. to ROC for floatg a Private Limited company. The Public company is gog to have 99% of shareholdg the private limited company.Now can this expenditure be booked the books of Public company or shall it have to be shown as advance, vment? What will be the accountg tratment private limited company? which section companies Act deal with this aspect? please help me out. ' BY: M. Santosh Kumar No answers yet View Answers | Post Answers |
| 87 |
Aug. 29 2005 |
How can I register on PD Portal '
–
(MISC.)
How can I register on PD Portal ' BY: Nishant No answers yet View Answers | Post Answers |
| 89 |
Aug. 29 2005 |
Irrespective of the accountg standard applicable, i.e. Fixed Assets , tantible Assets, whether pre-o –
(AUDIT)
Irrespective of the accountg standard applicable, i.e. Fixed Assets , tantible Assets, whether pre-operative expenses , prelimary expenses can be deferred or not? ' BY: Kondagunturi sivarama gopal No answers yet View Answers | Post Answers |
| 90 |
Aug. 29 2005 |
if turnover of the society is not exceedg Rs 40 cs whether it is required tax audit u,s 44AF. societ –
(DIRECT TAXES)
if turnover of the society is not exceedg Rs 40 cs whether it is required tax audit u,s 44AF. society are engaged the busess of sale of seeds & picides it is end user- this is ail busess? ' BY: sachin jain No answers yet View Answers | Post Answers |
| 78 |
Aug. 28 2005 |
WHAT ARE THE AMENDMENTS THE WORDGS OF THE CARO REPORT? '
–
(AUDIT)
WHAT ARE THE AMENDMENTS THE WORDGS OF THE CARO REPORT? ' BY: RADHIKA S. BHOTICA No answers yet View Answers | Post Answers |
| 62 |
Aug. 27 2005 |
COMMODITIES VAYDA BAZAR PROFIT TAXABLE UNDER WHICH HEAD? IF COMMODITIES VAYDA BAZAR PROFIT TAXABLE –
(DIRECT TAXES)
COMMODITIES VAYDA BAZAR PROFIT TAXABLE UNDER WHICH HEAD? IF COMMODITIES VAYDA BAZAR PROFIT TAXABLE UNDER BUSESS HEAD THEN IF TOTALS OF TRANSACTION AMOUNT EXCEED RUPEES 40 C - REQUIRED TAX AUDIT U,S 44-AB OF THE COME TAX ACT ' BY: AMAR KUMAR AHUJA No answers yet View Answers | Post Answers |
| 67 |
Aug. 27 2005 |
The frieght payment exceeds RS20000.There is no written contract between transporter and assessee.Wh –
(DIRECT TAXES)
The frieght payment exceeds RS20000.There is no written contract between transporter and assessee.Whether the words pursuance of any contract between the contractor and firm mentioned at start of sec.194(c)cover such frieght payments Secondly tranasport companies issug bilties are generally bookg agencies The payments are made to different truck drivers less than Rs20000 at different times on the basis of bilities of same transport co. of supplier pce There is no contract between tpt.co. and assessee. Payment are made made on cash basis frieght amount is not credited the a,c of tpt.co. ,truck driver.Is it mandatory to club different payments for applyg the limit of Rs00 a year ' BY: PK KHANNA No answers yet View Answers | Post Answers |
| 74 |
Aug. 27 2005 |
Mr A newly qualifed -chartered accountant take over a chartered accountant firm from Mr B- chartered –
(MISC.)
Mr A newly qualifed -chartered accountant take over a chartered accountant firm from Mr B- chartered accountant who was the proprietor of the firm.befor take over by mr B there was two transfer before mr B take over and origal proprietor whos name the above firm exist is dead. quion 1.whether any family memeber of origal member can cim them as legal heirs of the firm though there is no agrement and ion with the above trnasfer and also as per part 1 sch 2 of sec 22 of ICAI ACT do not allow any such cim 2.if family member of the above pot 1, cim as legal heirs, what action can be taken by the stitue and member 3.whether above facts should be reproted to central council of our stitute ' BY: MD.SAIFUDDIN SHAH No answers yet View Answers | Post Answers |
| 75 |
Aug. 27 2005 |
An assessee has decred agricultural come of Rs.300000,-for a.y.2003-04.He has not mataed any records –
(DIRECT TAXES)
An assessee has decred agricultural come of Rs.300000,-for a.y.2003-04.He has not mataed any records for the same except for the fact that he has produced before the A.O. the nd records.He has also given item,crop wise net come to the A.O. at the time of assessment. What are the other alternatives tto prove agri come? ' BY: Ranganath Shenoy No answers yet View Answers | Post Answers |
| 77 |
Aug. 27 2005 |
ASSESSEE HAS REGISTERED A TRUST DATED 28.08.1998. APPLICATION FOR REGISTRATION U,S 12A WAS SUBMITTED –
(DIRECT TAXES)
ASSESSEE HAS REGISTERED A TRUST DATED 28.08.1998. APPLICATION FOR REGISTRATION U,S 12A WAS SUBMITTED DT.19.12.2000. MANY QUERIES WERE RAISED BY THE DEPTT. AND REPLY HAD BEEN SUBMITTED BY THE ASSESSEE PROPERLY DUE TIME. DEPTT. HAS NEITHER GRANT NOR REJECT THE REGISTRATION TILL 26.08.2005. MATTER IS STILL PENDG WITH THE DEPTT. WHETHER IT WILL BE TREATED AS DEEMED REGISTRATION U,S 12A. ' BY: RAMPHAL GUPTA No answers yet View Answers | Post Answers |
