Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5987 unanswered question(s) — Showing 1181–1200
| Que. Id | Date | Description |
|---|---|---|
| 20408 |
Aug. 28 2020 |
Capital Gain –
(DIRECT TAXES)
An individual enters in to agreement with developer for purchase of an apartment in 2018, and regularly pays the instalment dues to developer in 2020 when the apartment in ready for delivery he executes into tripartite sale deed by which the apartments is registered in the name of third party. This results in substantial gain for the first agreement holder which can be treated as Long term capital gain. My question for purpose of re-investments, is he to comply with provision of section 54 or 54F. BY: Ethirajan No answers yet View Answers | Post Answers |
| 20409 |
Aug. 28 2020 |
GST Applicability –
(GST)
“A”, real estate company enters into agreement with land owner for purchase of land for Rs.50L and pays advance of say 30 Lacs. Shortly the company finds a buyer for 60 lacs. Sale deed is directly executed by the land owner to actual buyer with the with 'A' as consenting party for Rs. 60Lacs. The buyer pays 20Lacs to land owner and 40 lacs to the real estate company. My queries are 1. Is company liable for GST since what is transferred is not land per se, but only right in the land 2. If the company is liable for GST, is it on 60 lacs or on 10 lacs, being the margin money BY: Ethirajan No answers yet View Answers | Post Answers |
| 20405 |
Aug. 27 2020 |
Use of DSC by Authorised representive –
(DIRECT TAXES)
An illiterate person is not able to get DSC.Can he authorise some body else to use his DSC for his Prop firm's Income tax return by giving authorisation letter BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20406 |
Aug. 27 2020 |
SALE OF OLD TRUCK (ISSUE OF CHARGING OF GST) –
(GST)
X A business man engaged in trading purchased a Truck of Rs 20 L + GST 28% 5.60 = 25.60 in FY 2019-20. The GSt of Rs 5.60 was taken as input in the FY 2019-20. In CY 2020-21 now he wants to sale the truck for Rs 17 Lacs after deducting dep. My query is whether he will have to charge GST on sale price of truck of Rs 17.00 L + GST 28%. Or Input taken in FY 2019-20 ought to be reversed considering 1 year of usage of machinery in the business. Which option he will have to consider here. BY: pradeep kumar agrawal No answers yet View Answers | Post Answers |
| 20403 |
Aug. 26 2020 |
GST –
(GST)
A person raised 3 invoices to service receiver in F Y 2017 2018 but due to some mistake not uploaded right credit against each invoice. Now the receiver raised a debit note along with tax & Interest. Due to the fact that he is an Important customer, supplier can not bought him to his knees. Now the question is: 1. can the supplier get the GST refund which he has paid to the department against these invoices since the receiver has raised a debit note, reversed the credit and not paid for the Invoices? Thanks & Regards BY: SK No answers yet View Answers | Post Answers |
| 20404 |
Aug. 26 2020 |
GSTR9 –
(GST)
While preparing GSTR9 for the FY 2018-19, where to disclose the turnover relating to FY 2017-18 reported in the FY 2018-19. BY: CA. MALLIKARJUNA RAO SIKHAKOLL No answers yet View Answers | Post Answers |
| 20399 |
Aug. 25 2020 |
Refund application RFD01A –
(INDIRECT TAXES)
While filling Sales details in Excel Utility B2C figure is to be filled alongwth Bill wise sales details of Registered customers B2C Sales includes IGST as well as CGST/SGST but Error message comes "Either tax should be IGSTor CGST/SGST Even if we bifurcate into two figures JSON file is not validated after uploading. Can any body suggest solution Thanks in advance Ca Mahesh Aneja BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20400 |
Aug. 25 2020 |
Refund application RFD01A –
(INDIRECT TAXES)
While filling Sales details in Excel Utility B2C figure is to be filled alongwth Bill wise sales details of Registered customers B2C Sales includes IGST as well as CGST/SGST but Error message comes "Either tax should be IGSTor CGST/SGST Even if we bifurcate into two figures JSON file is not validated after uploading. Can any body suggest solution Thanks in advance Ca Mahesh Aneja BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20401 |
Aug. 25 2020 |
078994 –
(DIRECT TAXES)
An Individual is Govt. Employee. He received Medical Reimbursement from his Employer for Medical Treatment of his Son. Whether its Taxable in the hands of the Individual. BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 20402 |
Aug. 25 2020 |
078994 –
(DIRECT TAXES)
An Individual Doctor, pays Life Insurance Premium of his Staff. Whether it will be eligible Business expenditure for him. BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 20397 |
Aug. 24 2020 |
Tax Audit for a cooperative Society –
(DIRECT TAXES)
A cooperative Society having turnover less tha Rs 1 crore dealing in Milk,Fertilizers,Karyana Goods has not been allotted to any Chartered Accountant for Tax audit by Department of Cooperation. Its Turnover is slightly less than 1 Crore and Net profit as per Balance Sheet is less than 8% of Turnover which becomes Nil after availing deuction under Sec 80 P Whether Tax Audit will apply to this Society BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20398 |
Aug. 24 2020 |
44AD –
(Profits & Gains of Business & Profession)
Financial year 2018-19 TO less than Rs. 1C. assessee did not avail 44D, but filed under normal accounts I know that for the next 5 years he cannot avail 44AD. But for 2019-20, he avails 44AD and files return. What will happen if this return is not accepted. BY: t sankar No answers yet View Answers | Post Answers |
| 20396 |
Aug. 22 2020 |
TCS ( Tax collection at Source) –
(GST)
The taxpayer has forgotten to claim TCS deducted by E commerce operator for 2018-19 and 2019-20. From Feb 2020 , taxpayers has applied for cancellation of his GSTIN. Now GSTIn is cancelled but '' TDS TCS claim received '' Tab is not active. As per taplk with CBIC, they saying once, GST number is cancelled then we can not claim, TCS claim. BY: samirkumar gokulbhai kasvala No answers yet View Answers | Post Answers |
| 20394 |
Aug. 19 2020 |
TAX ON RIGHT TO USE OF LAND –
(DIRECT TAXES)
My client has made right to use agreement with Power Grid Corporation for installation of Power Transmission line in the land for an infinite period and received compensation . The land has been declared as residential land in revenue record . Plz clarify the nature of income and tax position Thank you BY: PONNUSAMY R No answers yet View Answers | Post Answers |
| 20395 |
Aug. 19 2020 |
Impact on ongoing physical Income Tax Proceedings due to Faceless Assessment Scheme,2019 –
(DIRECT TAXES)
CBDT issued the order dated 13.08.2020 as power given u/s-119 under Income Tax Act,1961. Order mentioned that all assessments orders w.e.f 13.08.2020 will be issued under Faceless Proceedings,2019 meaning thereby that even assessment going on under old regime also subject to Faceless Scheme,2019 or just notice issues after 13.08.2020 will be subject to Faceless Assessment Scheme? BY: JIMESH SHAH No answers yet View Answers | Post Answers |
| 20389 |
Aug. 18 2020 |
GST Refund under inverted duty structure statement 01A –
(GST)
While filling statement 01A, details of outward supplies, whenever once chooses B2C small, the date field gets disabled and when you validate, date error occurs. How to solve this? The file does not allow to enter date and the error says that the date can not be before 01 july 2017. BY: Anuj Tiwari No answers yet View Answers | Post Answers |
| 20390 |
Aug. 18 2020 |
excess credit taken in 2018-19 –
(GST)
While comparing GSTR 2A and 3B it was found that excess credit taken in 2018-19 OR it can be said that suppliers not uploaded all bills properly. If we want to reverse that excess credit in the month of March,2020 then what would be the accounting treatment ?? BY: SUDIP KUMAR MUKHOPADHYAY No answers yet View Answers | Post Answers |
| 20391 |
Aug. 18 2020 |
case law_reimbursement of expenses –
(Service Tax)
will you please share soft copies of following case laws regarding reimbursement of expenses : 1] International Consultants and Technocrats P Ltd v UOI (2012)28 taxmann.com & 2]Glaxo Smithkline Pharmaceuticals v CCE (2005) 1 STT 37 (CESTST) mail id :: mukho_sudip@yahoo.co.in BY: SUDIP KUMAR MUKHOPADHYAY No answers yet View Answers | Post Answers |
| 20392 |
Aug. 18 2020 |
tax on sale of rights of right issue in open market –
(Capital Gains)
I have 1000 shares @ 1500 of XYZ ltd and Co. issues right share in the ratio of 1:1 @ 1200. I sold this rights in open market @250 per share. So I had sum of Rs.250000(i.e. 250x1000). So my query is, under which head will it be taxed and what are the other applicable provision are there under IT Act ? Expect your valuable reply along with related Tax Provisions. BY: VIJAYKUMAR BHANUBHAI GEVARIYA No answers yet View Answers | Post Answers |
| 20393 |
Aug. 18 2020 |
Composition Dealer -Limit for Goods and limit for services –
(GST)
Presently A Taxpayer Is Registered Is Under Regular Scheme . He Is Selling Goods As Well As Providing Services. He Wants To Go For Composition Scheme . My Understanding Is That For The Goods , Maximum Turnover Limit Is Rs 1.5 Crores And Pay GST @1% . For Services Maximum Limit Is Rs 50 Laths And Pay Tax @6% . So In Total Rs 2 Crores He Will Get His Limit ( For Goods Rs 1.5 Cr And For Services Rs 50 Lakhs) Kindly Confirm The Above Understanding . BY: samirkumar gokulbhai kasvala No answers yet View Answers | Post Answers |
