Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5987 unanswered question(s) — Showing 1201–1220
| Que. Id | Date | Description |
|---|---|---|
| 20382 |
Aug. 17 2020 |
Conversation of sole proprietorship to partnership –
(MERGER & ACQUISITION)
I'm practicing as sole proprietor and i wanna add my friend as a partner and wanna convert it into partnership firm with same name(Proprietorship), does existing experience will be loosed or not, by this act? Thanks in advance BY: RAGHURAMIREDDY No answers yet View Answers | Post Answers |
| 20383 |
Aug. 17 2020 |
GST Refund –
(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 |
| 20384 |
Aug. 17 2020 |
542430 –
(GST)
ABC has rendered services of work contract at the site of DEF in FY16-17 (i.e. pre GST period) and tax and return of the same been duly deposited. Now, on account of deficiency of services, the two parties settled their account in FY20-21 in respect of the work done in the year 2016. Now to settle the account, ABC has to issue credit notes in respect of work done in FY16-17 on a/c of deficiency of services in FY20-21. Query- What will be the effect of Tax/ GST on credit notes to be raised by ABC? BY: ARJUN GUPTA No answers yet View Answers | Post Answers |
| 20385 |
Aug. 17 2020 |
44AB Tax Audit F.Y. 2018-19 A.Y. 2019-20 –
(DIRECT TAXES)
The assessee - Milk Distributor In F.Y. 2018-19 deposited cash more than Rs. 50 Lakhs in Current A/c. - shown in SFT. Turnover in F.Y. 2018-19 - Rs. 85 Lakhs. Net Profit - below 8% and below Rs. 2.50 Lakhs (Basic Exemption Limit) Whether Tax Audit is applicable? BY: Hunny Badlani No answers yet View Answers | Post Answers |
| 20386 |
Aug. 17 2020 |
138420 –
(CORPORATE & OTHER LAWS)
I am is auditor of private limited company which is subsidy of listed company. Please guide me, 1. Whether NAFRA 2 applicability to private company which is subsidy of listed company. 2. Whether uploading of the "Audit Working Documents " also applicable to me ? BY: SANCHIT SURESH PANDHARE No answers yet View Answers | Post Answers |
| 20387 |
Aug. 17 2020 |
Form 3CD & ITR Filing - A.Y 20-21 –
(DIRECT TAXES)
For A.Y 20 – 21, ITR filing due date is 30/11/20. But report u/s 44AB has to be uploaded by 31/10/20. The assessee wants to pay bonus outstanding only around 15/11/20. This being item covered u/s 43B, the assessee is entitled to claim deduction in A.Y 20 – 21. How a person giving report u/s 44AB should address this situation. How does the assessee claim the bonus as deduction if as per 44AB report bonus outstanding remain unpaid on date of audit report BY: Ethirajan No answers yet View Answers | Post Answers |
| 20388 |
Aug. 17 2020 |
542430 –
(INSOLVENCY)
Who are required to get themselves under NeSL (National E-Governance Services Limited)? What are the compliances associated after getting registered? Does a Unlisted Private Limited Company required to get itself registered under NeSL? BY: ARJUN GUPTA No answers yet View Answers | Post Answers |
| 20375 |
Aug. 15 2020 |
Insurance compensation received along with interest –
(DIRECT TAXES)
Kindly suggest me what is the tax implication "compensation received from United India insurance company against motor accident". Tax implication on compensation received and interest. Is there any exemption or deduction under section 57 on interest received? BY: RAMESH K S No answers yet View Answers | Post Answers |
| 20376 |
Aug. 15 2020 |
Refund claim period –
(GST)
If an asessee has to claim GST refund for whole year 2018-19 Fin year, Whether he can file application up to 31-3-2021 BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20377 |
Aug. 15 2020 |
RWA sec 12A –
(DIRECT TAXES)
Whether a Resident Welfare Association can get Registration u/s 12A BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 20378 |
Aug. 15 2020 |
RWA sec 12A –
(DIRECT TAXES)
Whether a Resident Welfare Association can get Registration u/s 12A BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 20379 |
Aug. 15 2020 |
RWA FORM 15G –
(DIRECT TAXES)
Whether a Resident Welfare Association can give Form 15G to the Bank for non deduction of TDS BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 20380 |
Aug. 15 2020 |
RWA Tax Rate –
(DIRECT TAXES)
Whether a Resident Welfare Association can take benefit of basic exemption of Rs.2.50 lacs. And ar which rate the RWA is taxed. BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 20374 |
Aug. 14 2020 |
Composition Dealer –
(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 |
| 20372 |
Aug. 12 2020 |
TDS on cash withdrawl –
(DIRECT TAXES)
A cooperative Society is dealing in providing fertilizers/essential goods etc to its members . It has withdrawn cash in excess of 1 crore in financial year 2019-20 Whether TDS @2% is necessarily to be deducted by bank or certificate from Income tax department will work here for non deduction/Lower deduction etc BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20373 |
Aug. 12 2020 |
TAXABILITY –
(GST)
Whether GST needs to be charged on the assets taken by Retiring Partner on Retirement? BY: BHAVESH VACHHANI No answers yet View Answers | Post Answers |
| 20371 |
Aug. 11 2020 |
IMPORT UNDER ADVANCE LICENSE AND EXPORT WITH PAYMENT OF IGST –
(GST)
If exporter had made import of raw material under advance license and then he had export finished good with payment of IGST. As per law he cannot export with payment of IGST. What remedy to outcome this issue. BY: AJITKUMAR L PATEL No answers yet View Answers | Post Answers |
| 20370 |
Aug. 10 2020 |
078994 –
(Capital Gains)
Whether Unabsorbed Depreciation can be set off against Long Term Capital Gain earned from Sale of Residential Property. BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 20369 |
Aug. 08 2020 |
078994 –
(DIRECT TAXES)
Sir, A Resident Welfare Association (RWA} having 120 Flat Owners, The RWA is registered with the Sub Registrar of Societies. The RWA is earning Interest on FDR and TDS is deducted thereon. My questions are as follows: 1. The Members contribution is not taxable due to Concept of Mutuality. So, I have prepared a Maintenance account separately, the surplus is transferred to Members Fund. 2. The Bank Interest Rs. 3 lac ,is Taxable. So I have prepared a separate Income and Expenditure account and the surplus is transferred to Members Fund. 3. I have prepared ITR Form 5. Marked the RWA as Registered Society. The same is giving basic exemption of Rs.2.50 lacs. And Taxing the rest as per the slab Rates. 4. The Members Share is indeterminate, if I mention the same, it asks Rates of Taxation of the Members. All Members are taxable at MMR, i.e. 30%. In that case its taxing the RWA Income at 30% and not giving basic exemption of Rs.2.5. lacs. 5. Whether ITR filing is necessary for the RWA? What would be the position if TDS is not deducted? 6. Whether the RWA can give Form 15G to the Banker for no deduction of TDS? If yes, the Bank may upload figure for Interest on which TDS is not deducted due to Form 15G, it will reflect in the Form 26AS of the RWA later on. 7. If anyone is having more literature on RWA, please provide me @ ajayjain3455@yahoo.co.in. BY: AJAY JAIN No answers yet View Answers | Post Answers |
| 20368 |
Aug. 07 2020 |
450379 –
(MISC.)
Hello Everyone I have Recently Qualified CA In Nov-2019 and Hold COP in June 2020 Can i do Tax Audit for F.y 2019-2020 and GST audit For Financial Year 2018-19. BY: HARSH BANSAL No answers yet View Answers | Post Answers |
