Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 20973 |
Sep. 10 2022 |
305618 –
(GST)
RCM ON RENTING OF RESIDENTIAL AND DWEELING PROPERTY BOTH ARE REGISTERED UNDER GST:- As new Notification-05/202022 came for RCM on renting of Residential dwelling , please let us clarify :- 1. Whether both tenant and landlord are registered under GST , who will be liable to pay GST ? whether RCM or Forward ? 2. For identification of "residential dwelling properties" , Since GST act is not define ,how to identify. In some of cities categories properties by municipality Corporation for taxability on commercial and residential but uses may not be the same. 3. Whether companies Guest house taken on lease , the same will be classified under residential ? BY: PREM NIWAS CHOUDHARY No answers yet View Answers | Post Answers |
| 20971 |
Sep. 08 2022 |
GST registration for Primary coop societies –
(INDIRECT TAXES)
A coop society collects milk from members and sells to an agency . It also provides fertilizers,pesticide and essential commodities to members .Whethe it is required to get registered under GST if total turnover is more than 40 lacs in Punjab BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20969 |
Sep. 07 2022 |
Form 10B –
(AUDIT)
This has reference to Form 10B (Audit report under section 12A(b) of the Income-tax Act). As per point no. (7), the information required is, 'Whether any part of the income in respect of which an option was exercised under clause (2) of the Explanation to section 11(1) in any earlier year is deemed to be income of the previous year under section 11(1B) ? If so, the details thereo.' Please guide whether the point should be considered as ANY earlier year or ONLY the previous year, in case it should be ANY earlier year, how many years should be go back. BY: Nilanjan Kayal No answers yet View Answers | Post Answers |
| 20970 |
Sep. 07 2022 |
Part-Time COP (Chartered Accountant) –
(MISC.)
1. How to Convert Full-Time COP into Part-Time COP ? 2. Is Part-Time COP holder can become a partner with Full-Time COP holder to form a CA Partnership Firm ? 3. If yes to (2), Does Part-Time COP Partner can continue to get Share of Profits / Remuneration from Firm ? Thank You BY: RYALI VAMSI KRISHNA No answers yet View Answers | Post Answers |
| 20968 |
Sep. 06 2022 |
ITR 5 –
(DIRECT TAXES)
Quantitative details are not being confirmed in above ITR utility,( Java based). Is any body else also has such issue BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20967 |
Sep. 04 2022 |
255279 –
(MISC.)
Good Morning, Myself CA Vamsi Krishna Ryali, managing partner of 'Vamsi & Narasimha Chartered Accountants". Our firm having two partners namely Vamsi (myself) & Narasimha. Now Narasimha wants to move out of the firm, in such cases, is my partnership firm automatically closed ? or it will convert into sole proprietor ship firm ? Is ICAI firm registration number will going to change ? For bank empanelment purposes, how experience of firm will be dealt with ? BY: RYALI VAMSI KRISHNA No answers yet View Answers | Post Answers |
| 20966 |
Sep. 03 2022 |
Tax Audit - loan accpeted - PAN not avaialble –
(DIRECT TAXES)
Clause 31a- loan accepted from farmers who does not have PAN. without PAN, the Tax Audit form is not getting uploaded. BY: samirkumar gokulbhai kasvala No answers yet View Answers | Post Answers |
| 20965 |
Sep. 02 2022 |
Taxability of Impact credit –
(GST)
Is receipts of Impact arising on account of roll out of GST structure of Contractors is taxable in the hands of assessee, if so relevant proisio may also be given BY: SURAJ KUMAR CHOUDHARY No answers yet View Answers | Post Answers |
| 20964 |
Sep. 01 2022 |
Could a CA, being a partner in another firm, also open a proprietorship firm under his name and prac –
(MISC.)
Could a CA, being a partner in another firm, also open a proprietorship firm under his name and practice there? BY: DEEPAK BHANDARI No answers yet View Answers | Post Answers |
| 20963 |
Aug. 30 2022 |
PDICAI Daily News Roundup –
(MISC.)
Hi Team, a Few Months Back I Used To Get PDICAI Daily News Roundup. Is It Stopped Now? If No then Kindly Start this again. It is a very helpful page to update myself. Regards CA AMIT KUMAR BY: AMIT KUMAR No answers yet View Answers | Post Answers |
| 20962 |
Aug. 29 2022 |
RECEIPTS OF COSMETOLOGIST - BUSINESS RECEIPTS OR PROFESSIONAL RECEIPTS –
(Profits & Gains of Business & Profession)
WHETHER RECEIPTS FROM COSMETOLOGY/SKIN CARE/ HAIR TREATMENT IN CASE OF A PERSON QUALIFIED B. H.M.S AND DIPLOMA HOLDER IN COSMETOLOGY & SKIN AESTHETICS WILL BE CONSIDERED AS PROFESSIONAL RECEIPTS OR BUSINESS RECEIPTS & COMPUTATION OF INCOME WOULD BE UNDER SECTION 44AD OR 44ADA ? BY: CA. SHAH KAJAL ARVIND No answers yet View Answers | Post Answers |
| 20961 |
Aug. 28 2022 |
123789 –
(MISC.)
Can CA in which he is director , can also become shareholder of the same company? BY: GIRISH D MITTAL No answers yet View Answers | Post Answers |
| 20959 |
Aug. 27 2022 |
Paying for Google for 360 Degrees View is it a breach of Professional Ethics? –
(Compliance)
Paying for Google for Enabling a 360 Degrees View of our office listed on Google Maps, is this a breach of Professional Ethics? Can this be allowed if it was hosted for free? BY: CA. DOSHI RAJENDRA RAMCHAND No answers yet View Answers | Post Answers |
| 20960 |
Aug. 27 2022 |
Admission of a Partner-Applicability of Capital Gain Tax-GAAR-Sec 56(2)(x) –
(Capital Gains)
There is a Partnership Firm having three partners.The Net worth of the Firm is Rs. 100 Crores (considering Market value of Goodwill and Immovable Properties-whereas Net worth as per Books of Accounts is Rs. 50 Crores) as on 31-03-2022. A new Partner is admitted in the Firm on 1-4-2022 and he is given 25% Share of Profit in the Firm whereas existing partners Share is reduced. New Partner contributes Rs 25 Lacs in Firm as his Capital Contribution.Existing Partners are not given any Stock nor any Immovable Property nor any money over and above the balances appearing in their capital accounts. Query 1-Such Transaction involves any Capital Gain Tax Liability on continuing Partners. 2-The incoming Partner is Liable to tax u/s 56(2)(x) of I.tax Act 1961. 3-The abovesaid arrangement is covered under GAAR Provisions BY: ARUN KUMAR ARORA No answers yet View Answers | Post Answers |
| 20958 |
Aug. 26 2022 |
Signing of 15CB by a Shareholder of a company? –
(CORPORATE & OTHER LAWS)
Can a Partner of CA Firm sign Form15CB Certificate and Issue it to the company of which he or his partner is Shareholder (very small qty of share bought through demat, Say Issued shares are 1000000/- and the CA holds 10 Shares. (No Controlling Interest in the company). (Minority Shareholder). Example: P and his Father (R) are Partners in a CA firm. R (Father) holds shares of AbC Ltd. Can P or R Issue 15CB to ABC Ltd? BY: CA. DOSHI RAJENDRA RAMCHAND No answers yet View Answers | Post Answers |
| 20956 |
Aug. 25 2022 |
172905 –
(AUDIT)
Please provide some advice on the Vulnerability Assessment and Penetration Testing (VAPT) tools which can be best for DCCB banks. BY: TRUPTI SANDIP PANDYA No answers yet View Answers | Post Answers |
| 20957 |
Aug. 25 2022 |
079710 –
(MISC.)
X (Land Owner) and Y (Developers) created a LLP firm namely XY LLP , where according to capital contribution clause X will introduce Land as his capital cont part and Y will invest amount . NO other activity has made till 31.03.2021 and No bank account opened . The Management has drafted balances sheet as on 31.03.2021 by assets as Land and Investment and in assets Capital cont. with disclosures that Land are regd in personal name pf X partner Querry Whether above acts are legal . Can we further proceeds as Land as assets without their Title in Firms name what is best way to proceed further BY: SANDEEP KAPOOR No answers yet View Answers | Post Answers |
| 20955 |
Aug. 24 2022 |
RCM ON RENTING OF COMMERCIAL PROPERTY BY UNREGISTERED DEALER –
(GST)
Tenant is a registered taxpayer paying rent on commercial property and Landlord is unregistered dealer. Total rent in a year is below Rs. 20 Lakhs. My question is whether RCM is applicable on renting of commercial property? BY: SUDHAKAR No answers yet View Answers | Post Answers |
| 20954 |
Aug. 23 2022 |
Net Worth Certification –
(MISC.)
Can a chartered accountant issue net worth certificate of private limited company on the basis of valuation report issued by a Registered valuer under IBBI BY: ASHISH GULATI No answers yet View Answers | Post Answers |
| 20953 |
Aug. 21 2022 |
ITC Not Reflected in GSTR2A/B –
(GST)
Sir, Input Tax credit of Purchases in Jul-22 in not shown in GSTR2A/B in July 22, due to the supplier not file GSTR-1 within due date i.e. filed after cut off date 13/08/2022. From suppler side screenshot of filed GSTR -1 is available. Can we take ITC in the month of July-22 while filing GSTR3B.In portal login there is Red box showing displaying 'you are contravening Rule 36(4)' Can we go ahead, whether any penalty or Interest will be charged. Please explain. BY: KAMAL KISHORE VERMA No answers yet View Answers | Post Answers |
