Sebi offers a way over FPI tax rule hurdle
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Click here to Post your Query >>5987 unanswered question(s) — Showing 1281–1300
| Que. Id | Date | Description |
|---|---|---|
| 20308 |
Jul. 02 2020 |
GST Refund for FY 2017-2018 due while filing GSRT9 and GSTR9C –
(GST)
There was a refund due while filing GSTR 9 and GSTR 9C for the FY 2017 - 2018. Is it possible to claim refund under the refund type "Any Other" or wait for the assessment order to be passed by the jurisdictional officer. BY: Shyamal Jariwala No answers yet View Answers | Post Answers |
| 20309 |
Jul. 02 2020 |
MISTAKE COMMITTED WHILE FILING GSTR- 3B –
(GST)
A Trader Mr.X had filed his GSTR-1 showing correct details consisting of IGST, CGST AND SGST liabilities. But while filing his GSTR-3B he made a mistake at table 3.1(a) by adding the IGST liability in equal portions to CGST & SGST. The liabilities were then discharged by the availing the ITC Balance. As a consequence of which while filing GSTR-9C there is a balance of IGST payable in table no.9 of GSTR-9C (diff b/w taxes paid as per GSTR-9 and as per books of account). Please advise about the treatment of the same in GSTR-9C. BY: D R V NARENDRA REDDY No answers yet View Answers | Post Answers |
| 20303 |
Jul. 01 2020 |
Capital Gain –
(DIRECT TAXES)
A person inherited a property from his father in 2001 and sold in 2019-20. How will Capital gain be calculated. If he spends entire proceeds in undercostruction house in 2019-20 Whether he will not be required to pay capital gain . BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20304 |
Jul. 01 2020 |
Experience count of firm in case of change in name –
(MERGER & ACQUISITION)
Hello, I am practising in a proprietorship with particular firm name, What if i will change firm name and convert proprietership firm to partnership firm after 2 years. Is my 2 years experience of firm count in a new named partnership firm? BY: SHUBHAM SHARMA No answers yet View Answers | Post Answers |
| 20305 |
Jul. 01 2020 |
Incorporation of Producer Company –
(Companies Act, 2013)
Whether it is mandatory at the time of incorporation of Producer Company as per Section 581 of CA 1956 that all five directors must be appointed from 10 members or not? If this is mandatory to appoint directors from members of producer company, please mention the rule or section in detail. BY: CA Neha Gupta No answers yet View Answers | Post Answers |
| 20302 |
Jun. 28 2020 |
TDS on propery -- Late fees –
(DIRECT TAXES)
In our case Agreement is entered on 10.02.2020 . Due date of payment and filing form 26QB was 30.03.2020 . But client could not make payment and is going to file form on 30.06.2020 . Here there is delay of 92 days ( from 31st mar 2020 to 30th June 2020 ) and amount of late fees is Rs 18400 . There are 2 buyers and 2 sellers and hence 4 forms required to be filed. Our query about disclosure of late fees . 1. Whether Rs 18400 is to be divided amongst 4 forms so per form late fees is Rs 4600 2. Whether Rs 18400 can be shown in any one form 3. Whether Rs 18400 per form so total for 4 forms will be Rs 73600 . Please guide us. BY: samirkumar gokulbhai kasvala No answers yet View Answers | Post Answers |
| 20301 |
Jun. 27 2020 |
038118 –
(GST)
ITC - ELIGIBLE FOR GST ON PURCHASE OF AMBULANCE ?? Our Pharma client is purchasing an Ambulance for plant staff, we are informed no itc credit can be availed as it traps under 17(5)(a) for motor vehicle used for transportation of persons having seating capacity not more than 13 persons,please note this is a specialty vehicle having no seating but carries portable bed , this is maruti ecco converted at maruti plant and cleared from their factory gate as ambulance and not as car, even rto registration fees are different for a regular car and an ambulance , Prime definition in motor vehicle act 1988 , Motor-car, defined-: as other than a “transport vehicle” and “transport vehicle” means a public service vehicle, a goods carriage, an educational institution bus or a private service vehicle; Thus Ambulance being a private service vehicle, it is not motor car but a specialty Vehicle, kindly share your views and other suggestions to drive point on this GST ITC eligibility Thanks CA VIPUL D. JHAVERI MUMBAI BY: VIPUL JHAVERI No answers yet View Answers | Post Answers |
| 20299 |
Jun. 26 2020 |
Disbursal of gold loan amount in cash –
(MISC.)
What is the RBI limit for disbursal of gold loan amount in cash by NBFCs. BY: BIJIN No answers yet View Answers | Post Answers |
| 20300 |
Jun. 26 2020 |
LUT –
(GST)
After giving LUT, Export of Services can be made without GST payment and Input credit can be claimed on Inputs . Whether this is given online and what details will have to be given therein BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20298 |
Jun. 25 2020 |
Reverse charge on ROC fees –
(GST)
Whether Reverse charge is applicable on ROC fees and other fees paid to MCA BY: BIJIN No answers yet View Answers | Post Answers |
| 20297 |
Jun. 24 2020 |
Providing Accountancy service to a Foreign Firm –
(GST)
An Individual is providing Accountancy Services to a Foreign Firm and receiving his remuneration in his Saving account. Whether he is required to inform any authority ? And whether it will come under Export of services. Further any GST Liability though Person is unregistered under GST. Please provide necessary answers BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20295 |
Jun. 22 2020 |
TDS CHALLAN BLOCKED –
(DIRECT TAXES)
We had booked a consultancy fees expense on provisional basis in March and TDS was also deducted and paid in Q4 u/s 195 and reported in 27Q-Q4. Since the party did not have a PAN in India, TDS was deducted @20%. However, on booking of invoice, the TDS was deducted again @20% erroneously and and reported again in next year's 27Q-Q1. However, since PAN number is not mentioned in the entry, we are unable to delete / remove this entry from 27Q-Q1. This is because entry is marked as 'C' type deduction, hence we are unable to edit the TDS deducted amount. Only solution we have found is to apply to TDS officer, which we have done but so far no response support from them. Has anyone faced similar issue? Kindly help. BY: Vishal Shah No answers yet View Answers | Post Answers |
| 20296 |
Jun. 22 2020 |
FIRM NAME APPROVAL –
(MISC.)
Dear members , As per Regulation 190(2)(ii)(g) of the chartered accountants ,1988 a distinguishing part of the name of the member or as per Regulation 190(2)(ii)(i) a part of the name of the proprietor can be used as firm name . For instance , as per point (g) "Ranga" is a distinguishing part commonly known of "Rangaraaj" . Also as per point(i) ,"Ranga" is the part of the name of proprietor "Rangaraaj" . So , Is "Ranga & Co" is a valid proprietor firm name for name approval ? Kindly suggest , Thanks in advance. BY: CA RANGARAAJ P No answers yet View Answers | Post Answers |
| 20294 |
Jun. 19 2020 |
ITC IN CASE OF FOREX DEALER –
(GST)
ASSESSEE WHO IS WORKING AS A MONEY CHANGER AND DEAL IN FOREIGN EXCHANGE. HE PAID GST AS PER THE VALUATION RULES STATED IN RULE 32 OF GST ACT. CAN HE TAKE ITC ON THE INPUT AND INPUT SERVICES WHICH IS RELATED TO FURTHEERENCE OF HIS BUSINESS. THNAK YOU IN ADVANCE. BY: AJITKUMAR L PATEL No answers yet View Answers | Post Answers |
| 20292 |
Jun. 18 2020 |
44ADA APPLICABLE TO LLP OR NOT –
(DIRECT TAXES)
My first question is Whether Section 44ADA applicable to LLP? and second, Can LLP pay professional fees to its Partner (If Partner is not taking any salary) ?? BY: Harish Kumar No answers yet View Answers | Post Answers |
| 20293 |
Jun. 18 2020 |
Premium on redemption of preference shares –
(DIRECT TAXES)
A company issues preference shares at a face value of Rs.100. It is redeemable at Rs.115 after 5 years. Whether the premium of Rs.15 can be claimed as an expense under income tax laws? BY: balasubramanian No answers yet View Answers | Post Answers |
| 20289 |
Jun. 15 2020 |
FOREIGN TRIP FOR PURPOSE OF FILING ITR FOR FY 19-20 –
(DIRECT TAXES)
DOES A STUDENT HAVING F1 VISA (STUDENT VISA) STUDYING IN US, COMES HERE IN INDIA FOR 1 MONTH DURING FY 19-20. WILL BE CONSIDERED AS FOREIGN TRIP FOR THE PURPOSE OF FILING OF ITR FOR ASSTT YEAR 20-21. SO FAR IN FOREIGN TRIP VISTIOR CARRY B1 OR B2 VISA AND STAY OVERSEAS FOR VERY RESTRICTED PERIOD MAX 6 MONTHS. BY: pradeep kumar agrawal No answers yet View Answers | Post Answers |
| 20290 |
Jun. 15 2020 |
GST Implication of Sale Price less than Purchase Cost –
(GST)
A trader sells goods at a price which is less than the purchase cost of the same and thereby accumulates the ITC. He does this for achieving volume discount on purchases made by him. 1. Can the trader carry forward such accumulated ITC and utilise the same for future GST liability? I guess there can not be a situation of refund since it does not fall under inverted duty structure. 2. Would the discounts so received amount to subsidies directly linked to price as stated in Sec 15(2)(e). BY: CA. KRISHNA MURTHY N No answers yet View Answers | Post Answers |
| 20291 |
Jun. 15 2020 |
In Case of reversal ITC can we reverse inter head net off balance (i.e. CGST & SGST netoff) –
(GST)
My question is with regards to reversal of ITC in textile sector, the quarry is as i have balance in CGST and SGST as against stock as on 31/07/2018 and electronic credit ledger in one CGST (-) while in SGST (+) so that we can reverse after set-off of minus balance against positive or we can reverse with respective head and pay interest thereon, in short at the time of reversal inter head adjustment is possible as per GST Law. BY: CA. KAKADIYA BHARATKUMAR POPAT No answers yet View Answers | Post Answers |
| 20288 |
Jun. 14 2020 |
TDS deduction liability –
(DIRECT TAXES)
During 2017-18 and 2018-19 A firm was getting Tax Audit done for sale amount around 95 Lacs as Net profit was less than 8% Now in 2019-20 as net profit after Chapter VI deductions will not be taxable after taking 8% profit so tax audit will not be required .Is it correct that firm will not be required to deduct TDS and file TDS returns during current year BY: Mahesh Kumar No answers yet View Answers | Post Answers |
