Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5987 unanswered question(s) — Showing 781–800
| Que. Id | Date | Description |
|---|---|---|
| 20810 |
Jan. 08 2022 |
Amount taken or paid in cash in excess of 20000- –
(MISC.)
1 Whether amount taken for short time or paid for short time in cash exceeding 20000-(total )is also required to be reported in Tax Audit report 2 If TDS is not deducted on interest paid to persons,whether it will be suffice to make that Exp not allowable mean Add back to Profit without any other problem BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20809 |
Jan. 06 2022 |
Audit of Panchayats keeping accounts on Single entry system –
(AUDIT)
Can Any body guide regarding Panchayat Audits having accounts on Single entry Sysyem BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20808 |
Jan. 04 2022 |
TDS matters –
(DIRECT TAXES)
TDS has been excess paid for Around 4000- under Sec 194 C .Whether same can be adjusted against TDs of Sec 194A BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20804 |
Jan. 01 2022 |
GST REfund figs in Tax Audit report –
(AUDIT)
There is a column to fill GST refund received during the year in Tax Audit Report .What can be the intention behind this as i feel it is not liable to Income tax (Refund received under Inverted duty structure) BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20805 |
Jan. 01 2022 |
TAX AUDIT LIMIT FOR SECTION 44AB(E) –
(DIRECT TAXES)
Dear sir if audit is conducted U/s 44AB(e) i.e Turnover is more than 1 cr but below 2 cr and he wishes to opt out of 44AD presumptive regime(where 44AD(4) is applicable). whether this will be counted for 60 Tax audit limit?? Kindly guide us regarding the same. BY: Sachin No answers yet View Answers | Post Answers |
| 20806 |
Jan. 01 2022 |
ITC Reversal –
(GST)
A party take credit of ITC against purchases in March 2021 GSTR3B.But the supplier not filed the returns (GSTR3B & GSTR1) or not paid GST, so ITC not showing in GSTR 2A/2B. Should ITC be reversed in portal & books and how ? BY: KAMAL KISHORE VERMA No answers yet View Answers | Post Answers |
| 20807 |
Jan. 01 2022 |
Investment submission for TDS on Salary –
(TDS/TCS)
Please share your views on:- Is it necessary for an employee to show his Chapter VI-A eligible to employer. Can he get full TDS deducted without deduction and later on claim actual deductions while filing his ITR. (Obviously the Form 16 will not be in agreement with the ITR to be filed). Means can he claim deductions which are not shown to employer and are not in agreement with Form-16 ? Thanks in advance for your precious time to reply. BY: SK No answers yet View Answers | Post Answers |
| 20803 |
Dec. 24 2021 |
078994 –
(Capital Gains)
An Individual is doing Share Trading. 1. Delivery basis , showing the same as Investment accordingly Long / Short Term Capital Gain is calculated 2. F & O Business of Shares 3. Intraday Business of Shares Query 1. Whether the assessee can show Capital Gain and Business Income simultaneously. 2. Whether the assessee should show as Business Income as a whole . 3. What is the right way? BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 20802 |
Dec. 23 2021 |
Utilization of GST Credit –
(GST)
Suppose I have Op. Balance of GST CGST Rs.1.00Lakh, SGST Rs.2.00Lakh and IGST Rs.1.00Lakh. at the closure of the month I have Liability of IGST Rs.1.50Lakh and CGST Rs.0.10Lakh and SGST Rs.0.10Lakh. GST credit for current month is Zero. Now Firstly IGST credit to be used to pay IGST. So to Pay Rs.1.50Lakh IGST I will use Rs.1Lakh GST Credit firstly. Now the question is for payment of Balance IGST of Rs.0.50Lakh can I use SGST Credit first ? or is it compulsory to use CGST first and after utilization of all the CGST credit only I will be able to use SGST balance. Or Can I use SGST credit instead of CGST Credit to make balance IGST Payment ? BY: SK No answers yet View Answers | Post Answers |
| 20801 |
Dec. 18 2021 |
Monetary limit for Department revision/appeals in GST –
(INDIRECT TAXES)
Hello Members, Is there any Monetary limit for Department revision/appeals in GST. If yes, what are the limits. Thanks Anant BY: Anant Nyamannavar No answers yet View Answers | Post Answers |
| 20800 |
Dec. 17 2021 |
Tax Audit report rejected due to clerical error –
(AUDIT)
While resubmitting Tax Audit to Asessee after it is rejected once Whether it will be origional report or revised Tax Audit report BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20798 |
Dec. 15 2021 |
Tax audit –
(DIRECT TAXES)
In AY 2020-21 assessee’s total turnover exceeded prescribed limit and hence tax audit was done. In AY 2021-22 assessee’s profit is less than 50% of professional turnover. Total income exceeds taxable limit. Is tax audit required for AY 2021-22? BY: Sadhana N.Kubal No answers yet View Answers | Post Answers |
| 20799 |
Dec. 15 2021 |
Tax audit –
(DIRECT TAXES)
In AY2020-21 assessee filed his return of income after getting tax audit done under proviso of Sec44AB(d) as his net profit was Less than 8%. Now in AY2021-22, the assesse has incurred loss/profit below 8%, and his total income below taxable income. 1. Is tax audit is required for AY2021-22. 2. If other income exceeds taxable limit whether tax audit is required BY: Sadhana N.Kubal No answers yet View Answers | Post Answers |
| 20796 |
Dec. 13 2021 |
Import of raw materials at Free of Cost –
(Customs & Excise)
Hi All, Request clarification and guide lines for following query 1. A Ltd Importing Raw material and components (HSN Codes 8481.90.90 & 4016.90.90 & 7225) free of Cost from T Inc (USA). Material values would be around INR 3 Crores. T Inc and A Ltd are subsidiaries of X Ltd and accordingly they are related parties. Is this transaction possible and what are the guidelines to be followed to import the materials BY: CA. BALASUBRAMANIAM P No answers yet View Answers | Post Answers |
| 20797 |
Dec. 13 2021 |
Whether 269SS is applicable for Chit Funds company? –
(DIRECT TAXES)
Whether 269SS is applicable for Chit Funds company is applicable for subscription amount received and paid in excess of Rs 20,000/- in cash from members of Chit regardless of prize money BY: ADARSH No answers yet View Answers | Post Answers |
| 20795 |
Dec. 12 2021 |
How to Present Profit & Loss Statement in case of Income from Future & Options Trading in Income Tax –
(DIRECT TAXES)
As per Sec 43 and guidance note issued by ICAI on TAX audit us 44AB Turnover in case of Trading in Future & Option is to be calculated by taking absolute total of net profit/loss for the transaction . My Query is that in case i compute turnover as stated above, What items or expenses shall construed as deduction from turnover to derive the net profit/loss as the case maybe or how to present them for disclosure in the income tax return filed ??? Also, In case of loss where the turnover is less than 1 crore or other specified limits as the case maybe is Tax Audit u/s 44AB mandatory,if yes then under which clause ?? BY: SHUBHAM GARG No answers yet View Answers | Post Answers |
| 20793 |
Dec. 09 2021 |
Donation allowed –
(DIRECT TAXES)
Can Donation upto 2% of the expenses can be claimed as deduction. Whether this Donation can also be claimed u/s 80G if 50% of such donation is allowed as exemption? If not, why to claim 80G where only 50% exemption, when allowed as expenses 100%. Please respond with relevant case, if any BY: SURAJ KUMAR CHOUDHARY No answers yet View Answers | Post Answers |
| 20794 |
Dec. 09 2021 |
Share from Inherited Property –
(DIRECT TAXES)
A married lady gets her share from her father's inherited property Around 20 Lacs by banker cheque It should be tax free in my opinion as there is no inheritance tax in India. Am I correct? BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20792 |
Dec. 06 2021 |
Tax Audit –
(DIRECT TAXES)
A individual is having Turnover of Rs 2.5 crores and his net profit is 3% of sales and more than 95% transactions of receipts and payment are through bannking channel. The understanding of Taxpayer is as under. (1)Since Turnover is less than Rs 10 Crores and more than 95% transactions of receipts and payment are through bannking channel , Income Audit is not required. (2) Also Audit is not required even profit is 3% i.e. is less than 8% becuase requirement of 8% is for presumptive scheme. u/s 44AD and section 44AD is applicable upto Turnover of Rs 2 crores. Here section 44AD is not applicable because Turnover is more than Rs 2 crores . In both above cases Income Tax Audit is not require. Kindly confirm. BY: samirkumar gokulbhai kasvala No answers yet View Answers | Post Answers |
| 20790 |
Dec. 04 2021 |
079710 –
(Service Tax)
A CA firm having Professional receipts less than Rs. 50 Lacs in FY 2015-16 . Whether Service tax department is levied on Relaisable basis or mercantile basis . Pl. suggest along with relevant provisions /notifications/rules etc. BY: SANDEEP KAPOOR No answers yet View Answers | Post Answers |
