Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5987 unanswered question(s) — Showing 881–900
| Que. Id | Date | Description |
|---|---|---|
| 20710 |
Jul. 27 2021 |
Notice recd for Non filing of SFT –
(DIRECT TAXES)
The entity has not filed the SFT and now the entity has received the notice to filed the SFT . 1) My question is that what are the consequences of Non Filing of SFT . 2) If the Entity has filied the SFT in reply to the notice is there any way to waive the penalty u/s 271 FA , Please give the advise on this issue. BY: GOPAL KUMAR AGRAWAL No answers yet View Answers | Post Answers |
| 20709 |
Jul. 26 2021 |
Taxability of compulsory land acquisition –
(DIRECT TAXES)
Sir, is acquisition by UP AWAS EVAM VIKAS PARISHAD, covered under RFCTLARR Act? BY: RAM KUMAR SARASWAT No answers yet View Answers | Post Answers |
| 20707 |
Jul. 23 2021 |
255279 –
(TDS/TCS)
Dear Team, Background of the case. The deductor is deducting TDS after assessee filling his income tax return of (AY 2020-21) & the due date for filling belated return time is already over. And the assessee has offered corresponding income in AY 2020-21 & not show any carry forward of TDS credit in his ITR-5 What are the ways to claim the TDS in subsequent years? BY: RYALI VAMSI KRISHNA No answers yet View Answers | Post Answers |
| 20708 |
Jul. 23 2021 |
Online filing ITR 4 –
(DIRECT TAXES)
I am not able to file online ITR 4 today because of Technical faults. Has any body filed ITR for current Ass year 2021-22 BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20706 |
Jul. 22 2021 |
REQUIREMENT OF HAVING CA OFFICE IN OTHER DISTRICT –
(MISC.)
Hi All, I have a query that If one CA say X is having its office in one district and now he wants to visit to another district of same state to do work say tax audits without having office in that district, Can he do so? If yes, how he can do so which will also be legal and valid either through office of clients or in office of other professional apart from being CA? BY: JYOTI MAHAJAN No answers yet View Answers | Post Answers |
| 20705 |
Jul. 20 2021 |
conversion of sole proprietorship to partnership –
(MERGER & ACQUISITION)
Dear all, Let us say 1.X and co is a sole proprietorship with x as the sole proprietor in existence for 3 years, 2.xy and co is a partnership firm with x and y as partners in existence for 1 year 3.Can both x( sole proprietor) and xy and co merge and start a new firm and will the experience of the sole proprietor x continue to the newly formed firm BY: SIVAKANTH BADIDA No answers yet View Answers | Post Answers |
| 20704 |
Jul. 17 2021 |
CA Firm Conversion— Partnership Firm to Sole proprietor –
(MISC.)
Dear All, Very Happy Morning. Myself, Vamsi Krishna Ryali, Partner at "Anil and Vamsi Chartered Accountants". We are Two Partners in our Firm. Due to unavoidable situations, my partner wants to move out of the Firm. My unresolved doubts in this regard are as follows:— 1) If my partner Retires from the Firm, Firm will get dissolved since number of partners falls below Two, in such cases, can i convert this Partnership Firm into Sole Proprietorship ? 2) Can i Continue with Existing Trade Name and Existing Firm Registration number of ICAI ? 3) Shall Partnership Firm Experience will be added to Sole proprietorship for Bank Empanelment Purposes ? Thank You for your valuable time. BY: RYALI VAMSI KRISHNA No answers yet View Answers | Post Answers |
| 20701 |
Jul. 15 2021 |
GSTR1-B2C(Small ) Amendment –
(GST)
Query 1 : Query of B2C(Small ) Amendment While Filing GSTR1 for FY 2019-20, for few customers amount was erroneously reported under B2C (Small ) instead of correctly under B2B . The above mistake was noticed in the month of September 2020 . While filing September 2020 GSTR1, above mistake was rectified by adding respective invoices under B2B but due to oversight amendment to B2C was not done. i.e. original amount of B2C should have been amended (i.e. Amended B2C amount should have been = original B2C - amount transferred from B2C to B2B) . However this B2C amendment is forgotten to be done. As result, liability is created for B2B invoices added but since B2C amendment was not done, liability is not reduced. Presently, Portal does not allow amendment for 2019-20 . Also allows B2C amendment only once. i.e. Once B2C amendment was done for a particular month then portal does not allow the same again. As a result, in GST portal , for 2020-21 GSTR1 and GSTR3B comparison, there is excess liability as compared to GSTR3B . How to resovle this. All the Taxes have been properly paid and reflected in GSTR3B, annual Return and Statutory Audited accounts. Query 2 : Presently for the above mentioned case, GSTR1 of jan , Feb and Mar 2021 is pending. While filing this return , can we do underreporting to the extant of the above mentioned B2C amendment of 2019-20 which we could not do. Note: proper reporting and payment will be done in GSTR3B. . BY: samirkumar gokulbhai kasvala No answers yet View Answers | Post Answers |
| 20702 |
Jul. 15 2021 |
Works Contract –
(GST)
A firm has got contract from a Private Bank for Installations of Tubewell in Schools. Every thing has to be done by contractor like purchase of Material, dwelling of borewell, labor etc. Is it come under Works Contract. If Yes What GST rate would be charged by contractor ?? BY: Harish Kumar No answers yet View Answers | Post Answers |
| 20703 |
Jul. 15 2021 |
Works Contract –
(GST)
A firm has got contract from a Private Bank for Installations of Tubewell in Schools. Every thing has to be done by contractor like purchase of Material, dwelling of borewell, labor etc. Is it come under Works Contract. If Yes What GST rate would be charged by contractor ?? BY: Harish Kumar No answers yet View Answers | Post Answers |
| 20699 |
Jul. 14 2021 |
194Q Query –
(TDS/TCS)
New section 194Q is inserted in Income Tax Act for deduction of TDS on purchase of goods and applicable from 01/07/2021. Regarding to this new section, I have one query: "A person has , let's say Mr A, turnover above 10 Crore in AY 2021-22. He is a trader in the gram market. Mr A buys goods from agent i.e. Kacha Adatiya. This agent acquires goods from the different farmers in the gram market. Agent issues a sale bill to Mr A in which he charges the cost of the goods, commission and GST. Mr A does not know who the actual seller is, he only knows the agent. The Agent reports only commission income in his books of account and the cost of the goods he charges in the bill gets adjusted against the farmer's payment. Hence, the cost of goods is not a turnover/sale income for him. Now my question is from view point of buyer i.e. Mr A: "Whether he is required to deduct TDS u/s 194Q on cost of goods paid to the agent? He already deducts TDS u/s 194H on commission paid to the agent." I hope my query is clear to you. Waiting for your quick reply. BY: SONAL MANUBHAI GOYAL No answers yet View Answers | Post Answers |
| 20700 |
Jul. 14 2021 |
CONVERSION OF PROPRIETORSHIP INTO PARTNERSHIP OR MERGE BOTH PROPRIETORSHIP FIRMS –
(MERGER & ACQUISITION)
Thank You CA Chunauti dholakia for you answer (ID :81181 dated 07/07/2021 for question ID: 41091) I have another question that If 2017 firm become partner without dissolving proprietorship concern can he/she continue to accept tax audits in his/her proprietorship concern? or after constituting partnership firm all work has to be done through partnership concern? By having proprietorship along with partnership firm will it be affect negatively for partnership in having tenders of govt. projects? should I merge my proprietorship after creating partnership? BY: JYOTI MAHAJAN No answers yet View Answers | Post Answers |
| 20697 |
Jul. 13 2021 |
Reporting in GSTR1 Return –
(GST)
Query 1 : Tax Free Sales to Registered party ( B2B) : Whether it should be reported as B2B under Table 4 (Or ) NIL Rated or Exempt sales under Table 8 Query 2 : Supplies to SEZ with payment of Taxes Whether it should be reported as B2B under Table 4 (Or ) Export under Table 6 BY: samirkumar gokulbhai kasvala No answers yet View Answers | Post Answers |
| 20698 |
Jul. 13 2021 |
letting of premises for 12AA exempted educational institution –
(Service Tax)
An individual had let out his property during the financial year 2016-2017 to a 12AA registered educational institution , the income of the educational institution is exempt under the Income Tax Act , whether the rent received by the individual is liable to service tax or is not liable for the reason that rent is being paid by an exempt institution BY: Anwar Iqbal No answers yet View Answers | Post Answers |
| 20696 |
Jul. 12 2021 |
Merger of CA Firms –
(MERGER & ACQUISITION)
My Friend has started practice by taking COP on Sept 2018 and obtained FRN on 21/02/2020 and i have started practice with COP on 08/02/2020 and FRN on 20/02/2020 so if we merge both firm what would be the effective date of partnership firm? Kindly please help BY: GIRISHKUMAR MANGIDCAR No answers yet View Answers | Post Answers |
| 20695 |
Jul. 06 2021 |
GSTR 4 wrong filed –
(GST)
In GSTR 4 filed for FY 2020-21, in table 6 (Tax rate wise details of outward supplies/inward supplies attracting reverse charge during the year), due to technical error , No figure of Value & tax has been reflected. Due to which Total Amount of Tax paid during FY 2020-21 now shown in " Negative Liability Statement". Now What to do ?? And While I am filing CMP 08 for Ist quarter of FY 2021-22, Tax getting adjusted from " Negative Ledger" instead of Cash Ledger" Please Provide Solution BY: Harish Kumar No answers yet View Answers | Post Answers |
| 20694 |
Jul. 05 2021 |
CONVERSION OF PROPRIETORSHIP INTO PARTNERSHIP OR MERGE BOTH PROPRIETORSHIP FIRMS –
(MERGER & ACQUISITION)
Hi all, I am into Practice from 2013 in proprietorship concern having firm name registered with ICAI. There is another existing Proprietorship firm registered in the year 2017. Now we want to join together and practice under one firm name with 2 Partners. Since my Firm 2013 is already empaneled for statutory bank audit. Please Guide us How can we convert our proprietorship firms into partnership and under which Firm name either firm that is established in 2013 or 2017, so it does not effect empanelment of MEF and experience of 2013 Firm? Also please guide Whether 2017 firm has to dissolve its proprietorship concern to become partner in 2013 firm or it can become partner without dissolving and later on get merge its proprietorship to that partnership firm formed? BY: JYOTI MAHAJAN No answers yet View Answers | Post Answers |
| 20693 |
Jul. 03 2021 |
Tax Audit in case of Commission Agent –
(AUDIT)
Dear Sir , Client is a commission agent in apmc market and main source of income is commission only but in GST he is showing sales So for tax audit turnover limit should be checked or not and if on a safer side we do tax audit Whether sales figure to be shown or commission figure in 3CD report? Thanks BY: TIRTH SHAH No answers yet View Answers | Post Answers |
| 20692 |
Jul. 02 2021 |
CONVERSION OF PROPRIETORSHIP TO PARTNERSHIP OF CA FIRM –
(MISC.)
Hi all, I am into CA Practice from 2015 in proprietroship concern having firm name registered with ICAI. There is another existing Partnership firm with 2 partners registered in the year 2017. Now we want to join together and practice under one firm name with 3 partners. Since my firm (proprietorship) is already empaneled for statutory bank audit and is it correct for the existing partnership firm to dissolve and convert my proprietorship firm to partnership firm? Also guide us whether we can change the firm name once the conversion takes place? Will the name change effect for MEF. BY: Vishwanath Walvekar No answers yet View Answers | Post Answers |
| 20691 |
Jul. 01 2021 |
TDS-194Q –
(DIRECT TAXES)
Is tax required to be deducted under section 194Q for purchase of gift cards/vouchers? BY: Manisha No answers yet View Answers | Post Answers |
