Sebi offers a way over FPI tax rule hurdle
You can add further comments to your query by clicking on "Add Comment".
This link will appear only, if you are logged-in with your user id and password. The same will appear as
"Querist Comment" on the Forum.
Click here to Post your Query >>5987 unanswered question(s) — Showing 1641–1660
| Que. Id | Date | Description |
|---|---|---|
| 19237 |
May. 21 2018 |
aggregate turnover –
(GST)
An individual is having the following incomes 1. rental income Rs15 lakhs. 2. share of profit from a partnership firm Rs.6 lakhs 3. interest from bank fixed deposits Rs. 1 lakh Whether share of profit from partnership firm should be considered for arriving the aggregate turnover us 2(6) of GST. BY: CA. PATNALA SIVA PRASAD RAO No answers yet View Answers | Post Answers |
| 19235 |
May. 20 2018 |
unique number date –
(MISC.)
dear sir, my membership is 020947, firm regn 003811S and RBI unique code 002128. I would like to know the date of registration 002128. Your early info to microaudit@yahoo or sms to +918660877188 is much appreciated. with regards, CA sheriff. BY: Masarath Ahmed Sheriff No answers yet View Answers | Post Answers |
| 19226 |
May. 15 2018 |
Balance sheet details in Presumptive taxation –
(DIRECT TAXES)
In the latest Form ITR 4 for Presumptive taxation,they are asking for Balance Sheet. Whether a person rendering tution serviceprofessional service like accountancy in individual capacity should also provide all details of his personal assets and liabilities in it? BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 19227 |
May. 15 2018 |
TDS and Claim of GST –
(DIRECT TAXES)
A License Fee Recovery in paid by the petrol bunk dealers to the oil corporation on each consignment of Stock deli every. Further GST is Collected by the oil corporation. The LFE GST cannot be collected from any of the consumers by the petrol bunk dealers. Whether the GST paid is to be treated as input tax or expenses in the year of payment. Whether TDS is to be deducted on the licence fee Recovery payment by the dealers BY: K.R.SATHIYAMURTHY No answers yet View Answers | Post Answers |
| 19225 |
May. 14 2018 |
E COMMERCE TRANSACTION –
(INDIRECT TAXES)
As per section 2(44) of the CGST Act E - commerce means supply of goods or services both including digital products over digital or electronic network and as per Section 2(45) of CGST Act E- Commerce operator means any person who owns , operates or manages digital or electronic facility or platform for electronc commerce -section 2(45) of CGST Act . Accordingly whether a person shall be considered to have e coommerce transaction if he devlop a website , through website he procure online order towards the supply of tablets having lectures in soft copy or in audio and visual form , and also provide the payment mechanism on his website . whether such an activity covered under the definition of E- commerce transaction and such persona shall be treated as ecommerce operator . GST registration shall be taken as E Commerce operator , kindly guide us in this regard BY: DEEPTI DHAKAD No answers yet View Answers | Post Answers |
| 19222 |
May. 12 2018 |
COMPOSITION SCHEME –
(GST)
A person supplies goods and exempt sevice like renting of residential property. can he opt composition scheme ? BY: CA. RACHIT JAIN No answers yet View Answers | Post Answers |
| 19223 |
May. 12 2018 |
LC Bills –
(AUDIT)
LCBD A bank Branch discounts LC bills from customers persons not having regular accounts with the Branch ( who are having facilities with other Banks). The commission earned ( collected affront) forms part of major part of revenue for the Branch. * What are the precautions to be observed? * What are the general guidelines? * What difference in treatment if it is LCBD foreign bills.? * Are there any RBI directions to support.? * How does the banking practice permit to allow facility soon after KYC is taken to non customers ( continue to have no operative account except LCBD). Need your advice. BY: S.Balasubramanian. No answers yet View Answers | Post Answers |
| 19218 |
May. 11 2018 |
tax audit where professional fees received –
(AUDIT)
I have received professional fees from another ca firm during the year. Can i do tax audit of the said ca firm? any guidelines for it ? BY: CA. RACHIT JAIN No answers yet View Answers | Post Answers |
| 19219 |
May. 11 2018 |
COMMON PARTNER –
(MISC.)
DEAR COLLEAGUES WHAT ARE THE CONDITIONS FOR BECOMING THE COMMON PARTNER IN OTHER FIRM? BY: GOPALKRISHNA SOLANKI No answers yet View Answers | Post Answers |
| 19214 |
May. 09 2018 |
Capital gain u/s 54F –
(Capital Gains)
X an individual sold a land on 16.12.2016 for Rs 50.00 lacs, cost of acquisition was Rs 1.00 lacs acquired on 25.01.2005. During F Y 2016-17 Asstt year 17-18 he filed his ITR by depositing Rs 50.00 lacs in capital gain account of SBI as he did not purchase a residential house property in this year, and decided to purchase after one year. In the mean while X expired on 25.01.2018 leaving the amount of Rs 50.00 lacs in Capital gain account of sbi as it is. Now my query is how to use this 50.00 lacs in capital gain account of sbi. Wife was nominee of this account, and banker are ready to give the money to wife. But whether wife of X should acquire a house property of Rs 50.00 lacs to sustain the claim us 54F now, or what other matter should be look forward in this regard. BY: pradeep kumar agrawal No answers yet View Answers | Post Answers |
| 19216 |
May. 09 2018 |
GST on Lodges –
(GST)
Dear Colleagues, An entity is undertaking Lodging business. It has rooms below declared tariff of Rs 1000. As such it was awailing exemption vide entry no.14 of CGST-Rate Notfication 122017. Now the company has outsourced managing of about 20 rooms in the whole property to another business entity for a consolidated monthly rental of 2,50,000.Whether the said monthly rental is liable for GST? Or can it be exempt under Notfication 122017 as per day per room rental would be around Rs 420 BY: Prashanth Karanth No answers yet View Answers | Post Answers |
| 19217 |
May. 09 2018 |
Whether Denotation "F" in Rule No. 42 includes Interest on Fixed Deposit –
(GST)
In case of Co-operative Housing Society, we have to compute allowable input tax credit. For this we referred Rule 42, We have question whether Denotation "F" i.e. Total turnover includes Interest on Fixed Deposit. BY: SHARAD PATIL No answers yet View Answers | Post Answers |
| 19212 |
May. 08 2018 |
Section 58 Disallowance –
(DIRECT TAXES)
An assessee claims interest payment Rs.75000 out of interest receipts Rs.125000 and shows Rs. 50000 income in other sources head. No TDS made for Rs.75000 and not subject to tax audit. Whether 30 disallowance will attract as per sec 58. BY: ANAND B No answers yet View Answers | Post Answers |
| 19208 |
May. 06 2018 |
Chartered accountant in practice –
(CORPORATE & OTHER LAWS)
Mr. A is an NRI. He is a normal partner in a Corporate Consulting firm outside India where he is NOT a Managing partner. This firm is also a family business as all other partners are family members. Mr. A wishes to setup a sole proprietor CA firm in India to serve his clients who have offices in India as well as the country where he is currently staying in. Can he apply for a COP and set it up? Mr. A shall be travelling to and fro from India as and when required to manage his practice. BY: Abraham George No answers yet View Answers | Post Answers |
| 19204 |
May. 05 2018 |
Classification –
(GST)
Repairs maintanace of car other vehicle.can we classify the repairs maintanance service as principal supply attaract 18 gst rate to repairs maintanance though some spare parts used in repairs having gst rate of 28. please clarify whether we can apply principal of composite supply attract rate of repairs maintance. BY: NADIR D SHAIKH No answers yet View Answers | Post Answers |
| 19202 |
May. 03 2018 |
Benefit to operate in Sikkim _pharmaceutical Company –
(DIRECT TAXES)
One Pharmaceutical Company having marketing in Delhi area is operating since 2011 and having a good profit margin as the company get their products with the own brand name get third party manufactured at Rs.2 and sold at Rs.10. Now the company has started their own manufacturing unit at Sikkim and get produced all their existing brands from Sikkim Unit only and the same transfer to Delhi and sold from that places . Thus claiming benefit of Section 80IB tax holiday by charging all their marketing expenses in that account from Sikkim Unit and no benefit shown from existing marketing unit at Delhi. Now our confusion persist that whether Income tax department may claim that you have shifted your entire profit to Sikkim and may raise following issue - 1. why not company Sikkim unit profit based on Sale price of Rs.2 ( which is Sale price of third party manufacture ) not based on Sale Price of Rs. 10, should be allowed only as the Sikkim unit of company producemanufacture for the other companies as well at Rs.2. 2. Why the profit which may be generate with third party manufacture shall be claimed as deduction. 3. Why not it should be treated as that it is same business as no separate brands . The same brands is being sold and it may be treated as " it is formed by splitting up or reconstruction , of a business already in existence". BY: MASHENDRA KUMAR MASHI No answers yet View Answers | Post Answers |
| 19196 |
Apr. 30 2018 |
Registered office –
(Companies Act, 2013)
I have incorporated a Pvt Ltd company in September,2017 by choosing the option correspondence address is NOT the address of registered office. But form INC -22 is not filed so far.If I file it now, with back date, should I pay penalty for the delay in filing.If so, whether the penalty is mandatory and when is it to be paid. BY: B.CHACKRAPANI WARRIER No answers yet View Answers | Post Answers |
| 19194 |
Apr. 29 2018 |
Transfer of property –
(DIRECT TAXES)
Three Ladies, joint owners of a commercial property 13 share each have gifted their shares to there husbands( who are brothers)and property has been transferred to their husbands. After a week two brothers out of three surrender their share in favour of third brother who has become owner of whole property. Indirectly two ladies in question have transferred their shares to their brother in law. Whether this can invite problem from Tax authorities? Further whether any gift deed is also required? BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 19180 |
Apr. 24 2018 |
change in email ID –
(MISC.)
I have changed my email ID but still I am receiving emails in my email ID Inbox. BY: Shovan Baksi No answers yet View Answers | Post Answers |
| 19181 |
Apr. 24 2018 |
HUF -can commission income be received by HUF ? –
(DIRECT TAXES)
HUF can HUF receive Commission Income ? BY: samirkumar gokulbhai kasvala No answers yet View Answers | Post Answers |
