Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5987 unanswered question(s) — Showing 961–980
| Que. Id | Date | Description |
|---|---|---|
| 20629 |
Apr. 19 2021 |
NOTICE U/S 148 –
(DIRECT TAXES)
X an assess received notice u/s 148 for Ay 2013-14, for a house property purchased in FY 2012-13. Actually, the price of the flat was well paid during FY 2009-10 to 2011-12. Only registration amount was tendered in FY 2012-13. My query is whether to furnish the details of payment made before FY 2012-13. Is this mandatory on the part of asseee to furnish bank transaction beyond the FY covered u/s 148. Or do we need to furnish the registration/ stamp paper cost paid during fy 2012-13 through our bank passbook. BY: pradeep kumar agrawal No answers yet View Answers | Post Answers |
| 20630 |
Apr. 19 2021 |
Can Independent Director do Stock Audit of the Company –
(CORPORATE & OTHER LAWS)
Can an Independent Director of a Listed Company, do Stock Audit of the same company on behalf of the Bankers. who have financed to the Company? BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 20627 |
Apr. 14 2021 |
079710 –
(INDIRECT TAXES)
Mr. A a labour contractor(Unregd) is providing service to supply of manpower in a company which engage in production of biscuits etc and his gross revenue in Fy 2015-16 and FY 2016-17, are 12 lacs and 16 lacs besides the contractual receipts he has also earned Rental income Rs. 6.00 p.a in each year from a commercial organisation. Now the Service tax dept issued Show cause notice to Mr. A and ask why not charge the ST , Interest and penalty in accordance with law Whether the contention of officer is correct or any other relief or notification or case law as manpower is given to food industry (Manufacturer of Biscuits etc) BY: SANDEEP KAPOOR No answers yet View Answers | Post Answers |
| 20628 |
Apr. 14 2021 |
562493 –
(DIRECT TAXES)
Dear sir, I am newly Enrolled Member Of ICAI M.N. 562493 (enrolled date 25/03/2021) , I am trying to register on Income Tax Efiling portal as Charterd Accountant but a message display " Membership does not exist" Please help BY: CA VIJAY KUMAR YADAV No answers yet View Answers | Post Answers |
| 20626 |
Apr. 11 2021 |
THRESHOLD LIMIT FOR PROFESSIONALS FOR THE FINANCIAL YEAR 2020-2021 –
(GST)
DEAR PROFESSIONAL FRIENDS, what is the threshold limit for the professionals in the state of Telangana to get themselves registered under GST for the financial year 2020-2021 whether it is 10 lakhs or 20 lakhs . please clarify thanks BY: Anwar Iqbal No answers yet View Answers | Post Answers |
| 20624 |
Apr. 10 2021 |
Whether CA in full-time practice can be a paid assistant in another CA firms with his Full-time stat –
(COUNCIL DECISION)
Whether CA in Full time practice be a paid assistant for another CA Firms. However, such CA is working as a Consultant & remuneration paid to him is subject to TDS u/s 194J. Even his appointment letter contains only professional fees & no other benefits like PF, Bonus etc. In such a situation whether the COP of CA would be Full time or part time status as per CA regulations. Kindly provide your thoughts. BY: SANTHOSH R No answers yet View Answers | Post Answers |
| 20625 |
Apr. 10 2021 |
UDIN for Arbitration Award –
(MISC.)
Whether UDIN is necessary for an Award of Arbitration, which I am going to give as a CA BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 20622 |
Apr. 07 2021 |
NOTICE U/S 148 –
(DIRECT TAXES)
Dear Members, Namaskar. Please help me to solve the case. Assessement completed by the ITO, demanded tax of Rs. 4 Lacs. Assessee paid 200000/- out of the demanded amount and filed appeal. The appeal is pending before the Asst. Commissioner. In the meantime Govt. Announced VIVAD SE VISHWAS SCHEME. As it is the fit case for opting for VSV Scheme the assessee opted for VSV and wanted to pay the balance 2 Lacs. The last date of payment under VSV Scheme is extended upto 30.04.2021. The Incumbent AO issued notice u/s 148 (Income Escaping Assessment ) for the same AY (Which appeal is Pending and VSV Scheme OPTED). My query is whether the AO is justified to issue notice u/s 148 ? Shall I advice the assessee to pay to under VSV or file return of income against the notice ? Please help. Thanks in Advance . BY: Manoj Kumar Choudhury No answers yet View Answers | Post Answers |
| 20623 |
Apr. 07 2021 |
CAPITAL GOODS - BRANCH TRF –
(GST)
Respected Expert kindly guide on the following scenario- Co is engaged in producing nil rated goods. It is having multiple branches in 4 states. For producing the nil rated goods it requires some machinery which is imported on maharashtra GSTIN - as per Bill of Entry in FY 2018-19. Now in April-2021 this machinery is required at the Gujrat Branch and therefore, we need the Trf the same. Query: Since all the purhcases are related to nil rated production we took the ITC in 3B and reversed it in Rule 42 + 43 in FY 2018-19 and capitalized the amt. Now in April-2021 branch trf being a outward supply for Maharashtra GSTIN - do I need to again charge GST on it? If yes - then can I re-avail the already reversed ITC and use it against the outward supply? If the ans is yes to above then no issues - but if Co is not eligible to re-avail the ITC then paying IGST on branch trf will only result in cascading effect. Any solution. Hope I am able to clear the facts. In case any additional information of facts is required - pl let me know. Kindly help. Thank you for your valuable time and advice. BY: Mitul Mahendra Mehta No answers yet View Answers | Post Answers |
| 20620 |
Apr. 06 2021 |
TCS FOR SALE EXCEEDING 50 L DURING FY 20-21 –
(TDS/TCS)
A PVT LTD CO IS FORMED ON 01.06.20 AND THE SALE FOR 20-21 IS 15 CR. UPTO MARCH21. DO WE REQUIRE TO DEDUCT TCS @ 0.075% ON SALE MADE DURING THE FY 20-21 AS SOME OF THE PARTY’S TRANSACTION ARE IN EXCESS OF 50 L. BUT AS BECAUSE THE COMPANY WAS NOT EXISTED DURING FY 19-20 AND SO THE CRITERIA OF TURNOVER EXCEEDING 10 CR DURING FY 19-20 DOES NOT APPLY. PLEASE SUGGEST IF TCS IS REQUIRED OR WE CAN STOP CHARGING TCS IN FY 20-21. BY: pradeep kumar agrawal No answers yet View Answers | Post Answers |
| 20621 |
Apr. 06 2021 |
NOTICE U/S 148 –
(DIRECT TAXES)
A PVT LTD CO IS IN RECEIPT OF NOTICE U/S 148 IN APRIL 21 FOR THE ASSTT YEAR 13-14. DURING THAT PERIOD THE COMPANY HAS ISSUED SHARES WORTH RS 50 L BY CONVERTING UNSECURED LOAN OF DIRECTORS IN SHARE CAPITAL ACCOUNT. THE FACTS WAS ALSO EXPLAINED TO THE JURISIDICATIONAL AO SOME 2 YEARS BACK, WHEN A ENQUIREY WAS MADE FOR THE SAME. AND ALL THE FACTS WERE SUBMITTED. BUT NOW THE NOTICE HAS BEEN SERVED. PLEASE ANY ONE SUGGEST THE REAOSN OF 148 AS COMPANY HAS NOT RECEIVED ANY REASON OF REOPENNG BY: pradeep kumar agrawal No answers yet View Answers | Post Answers |
| 20619 |
Apr. 05 2021 |
Form10IC-FY2019-20 –
(DIRECT TAXES)
Hello Everyone! Does ITR due date extension by ordinance applicable for filing form 10IC(form to exercise option u/s 115baa). Meaning thereby if extended ITR due date for domestic company (FY19-20) is 15th February 2021 and ITR filed on 22.12.2020 and form 10IC has also been filed on 22.12.2020. can form 10IC said to be filed on or before due date u/s 139(1)? Thank you BY: Manisha No answers yet View Answers | Post Answers |
| 20618 |
Apr. 04 2021 |
Can Merging CA firm do attestation work of his client in Old firm name –
(MERGER & ACQUISITION)
Suppose Ca firm A& Co. is merging with B&Co. Can A& Co do the attestation work in A& Co. after Merger ? Please reply with relevant rule/guidelines of ICAI in this regard. Thank You BY: OMPRAKASH No answers yet View Answers | Post Answers |
| 20615 |
Apr. 02 2021 |
GST Reversal on capital goods –
(GST)
A Bank Branch has transferred some Furniture to its Branch within same state at Book value . Whether Reversal Provisions will apply BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20616 |
Apr. 02 2021 |
GST Reversal on capital goods –
(GST)
A Bank Branch has transferred some Furniture to its Branch within same state at Book value . Whether Reversal Provisions will apply BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20617 |
Apr. 02 2021 |
GST Reversal on capital goods –
(GST)
A Bank Branch has transferred some Furniture to its Branch within same state at Book value . Whether Reversal Provisions will apply BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20613 |
Mar. 27 2021 |
LATE FEE ON SFT –
(MISC.)
How to pay and consume late fee on SFT return form 61A BY: SURAJ KUMAR CHOUDHARY No answers yet View Answers | Post Answers |
| 20614 |
Mar. 27 2021 |
Trading in derivatives for CAs in practice –
(COUNCIL DECISION)
Recently I came across news saying Central Council now allowed Chartered Accountants to trade in Equity Derivatives. Can anyone elaborate on the same? Was it like changing permission requirements as required under Clause 11 Part 1 of First Schedule (from Specific permission to General permission) or was it prohibited previously? Secondly, why CAs are not allowed to trade in derivatives (Even though done on Recognised Stock Exchanges)? Thanks in Advance! BY: VENKATA PAVANKALYAN PESALA No answers yet View Answers | Post Answers |
| 20611 |
Mar. 26 2021 |
seniority of firm –
(MERGER & ACQUISITION)
Dear colleagues, I am practicing as proprietor since 2019, and my senior colleague also practicing as proprietor since 2012, we have just created partnership two month ago in 2020, now we both want to merge both proprietorship into partnership firm. suggest about seniority of the new merged firm. thank you in advance BY: DEVANGKUMAR No answers yet View Answers | Post Answers |
| 20612 |
Mar. 26 2021 |
Partnership Salary and Interest –
(DIRECT TAXES)
Is remuneration to partners and interest on capital to partners can be given below the prescribed minimum in Partnership deed. As per the IT Act, this is the maximum limit for payment, not mentioning anything showing that below which it can't be paid. BY: SURAJ KUMAR CHOUDHARY No answers yet View Answers | Post Answers |
