Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 18784 |
Oct. 04 2017 |
FORM 29B –
(DIRECT TAXES)
I need to file form 29B, but as the same has been amended by the IT, so I am not getting the revised schema for amended form 29B, please let me know whether the schema is available for the revised form 29B BY: pradeep kumar agrawal No answers yet View Answers | Post Answers |
| 18789 |
Oct. 04 2017 |
TDS on purchase from NRI –
(INDIRECT TAXES)
A NRI is selling his residential property in india after 3 years of purchase to three persons jointly .Whether Seller will have to obtain PAN number and all the Purchasers will be required to get TAN numbers and deduct @20 of capital gain.Who will be responsible for calculation of Capital gain. BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 18779 |
Oct. 03 2017 |
Input credit –
(GST)
Where should purchases from registerd dealer be shown in GSTR2, if input is not required. Eg, bank charges. Cases where registration number is not shared. BY: Sai Ram No answers yet View Answers | Post Answers |
| 18781 |
Oct. 03 2017 |
Tax –
(GST)
Person not maintaining books and declare income under presumption basis. Does he require maintaining books under GST? If Books are maintained, does assessee cannot claim income under sec 44 AD. or can claim benefit by offering 8 or 6 though the books show much lower income BY: Sai Ram No answers yet View Answers | Post Answers |
| 18783 |
Oct. 03 2017 |
benifits from merger with firm –
(MISC.)
Sir, i am recently qualified c.a. from Bilara Rajasthan, i approached to reputed c.a. firm have FCA and more than 10 yrs exp. from kolkata who are looking partnership with me, my query is 1) what will be the benefits for me ? 2) can i do work on sharing basis for bank empanlement work? please answers........thanks BY: pankaj No answers yet View Answers | Post Answers |
| 18775 |
Oct. 01 2017 |
GST OR SERVICE TAX –
(GST)
Our firm is registered for Service Tax and we received professional fees for the services rendered during the year 2013 to 2016 in the month of August 2017. Please clarify whether we have to pay Service Tax or Pre GST . If we have to pay service tax, where we have report this receipt, in GST or Service Tax. If it is service tax, there is no service tax return after 1.7.2017. How to comply the legal procedures. We received service tax at rates relevant at the time of service i.e., 12.36,14 and 14.5 and 15. At what rate of service tax , we have to pay? BY: CA. BHAMIDIPATI VANI KUMAR No answers yet View Answers | Post Answers |
| 18773 |
Sep. 30 2017 |
Debit note for purchase returns –
(GST)
Whether debit note issued by purchaser in Sep17 for goods returned that were purchased in july 17 should be shown in GSTR2 for sep under 6C under sale returns as purchase return option is not there. BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 18770 |
Sep. 29 2017 |
Bond issue –
(GST)
I have a bond worth Rs. 1Cr. I have made sales worth Rs. 50 lacs and entire money is realised. Now if I get a sales order worth Rs. 80 lacs, do I need to issue a new bond? BY: shraddha No answers yet View Answers | Post Answers |
| 18768 |
Sep. 27 2017 |
Sale of SUV by a Construction firm –
(GST)
Dear All, A firm engaged in construction of Apartments is selling a SUV which is being depreciated over the years in its block of assets? Whether such sale would be a supply in course of furtherance of business exigible to GST? Whether Such sale would attract Compensation Cess? BY: Prashanth Karanth No answers yet View Answers | Post Answers |
| 18762 |
Sep. 24 2017 |
Whether penalty for safety violation is a service under GST laws? –
(GST)
In various contracts awarded by PSUs relating to supply and erection of new plant and equipment OR repairs and maintenance of exiting plant and equipment, there is a safety code clause in the contract to be complied by contractors. If a contractor violates the safety precautions, a penalty is imposed on the contractor and recovered from their bills. Such recovery is purely punitive in nature and may not be termed as an act of tolerance because it does not relieve the contractor from any obligation or responsibility. Whether such penalty is a service provided by the Principal to the Contractor under GST laws for the purpose of levying GST thereon? If it is a service, what SAC should be used? BY: P K Agarwal No answers yet View Answers | Post Answers |
| 18763 |
Sep. 24 2017 |
Cash sale –
(GST)
Under GST an assessee can make cash sale on counter up to 50000- without recording purchaser details and for above 50000- sale he should have proper address of purchaser .under income tax you can not sell above 2 lacs in cash. Whether Purchaser can make cash purchases keeping each transaction below 200000- within overall limit of 20 lacs (for unregd dealers)without attracting any penality.I understand TCS provision is not applicable from 2016-17 financial year. Am I correct? BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 18749 |
Sep. 21 2017 |
GUIDANCE ON ACCEPTING AUDIT AND EXPRESSION OF OPINION ON THE SAME –
(AUDIT)
Facts of the case The newly elected body of an registered association approach me for the audit of association. They have no PAN. They have not prepared books for the past 7 years due to internal disputes and the related court proceedings. After the settlement of disputes, the newly elected body ask completed books of the past years.i.e. books before 7 years. but the opposite party i.e. Previous management which already leave the association and formed a new association, refused to give the books. The newly elected body would not have taken any legal steps to recover the books as they tired of previous long legal battle. Moreover, the association collects subscription and spend almost all amount within the year. There was no any asset except cash and other immaterial amount. The newly electoral body inform me that they know the Chartered Accountant who was in their period only and they don’t know about later. Query 1. Now what shall I do? 2. How to express opinion on the books prepared for the current year without opening balances? BY: M RAJKUMAR No answers yet View Answers | Post Answers |
| 18750 |
Sep. 21 2017 |
APPLICABILITY OF TDS ON FOREIGN GOVT DEPARTMENT –
(DIRECT TAXES)
WHETHER TDS NEED TO BE DEDUCTED ON REGISTRATION FEES PAID TO FOOD AND DRUG ADMINISTRATION( FDA) OF US BY: CA. SUKESH S PATIL No answers yet View Answers | Post Answers |
| 18751 |
Sep. 21 2017 |
GST payable on Rental Income –
(GST)
In one case 20 of gross rental income goes to another party consequent to diversion of income by overriding title. My query is whether GST is payable on 100 or 80. BY: Ethirajan No answers yet View Answers | Post Answers |
| 18752 |
Sep. 21 2017 |
Interest From Bank –
(GST)
Almost every business entity is bound to have interest from bank which is exempted service. Does it mean everybody has to disallow part of input because there is exempted as well as taxable supply. BY: Ethirajan No answers yet View Answers | Post Answers |
| 18753 |
Sep. 21 2017 |
Diversion Of Rental Income –
(Income From House-Property)
In one case 20 of gross rental income goes to another party consequent to diversion of income by overriding title. My query is where and how to claim deduction of 20 in ITR. The tenant deducts TDS on 100 in the name of Land lord. BY: Ethirajan No answers yet View Answers | Post Answers |
| 18754 |
Sep. 21 2017 |
STAMP VALUE OF UNREGISTERED FLAT –
(Capital Gains)
Long term capital gains on sale of residential flat before final registry requires to consider Sale proceeds being the higher of sale consideration and Value of Property as per Stamp value authority. The question is how the same would be arrived if property doesnt move before said authority and prior sale is done to third person at an agreed price? At the same time no such valuation is available for similar kind of property at same location. BY: SURAJ KUMAR CHOUDHURY No answers yet View Answers | Post Answers |
| 18755 |
Sep. 21 2017 |
Treatment of Preliminary and Pre-operative Expenses –
(Companies Act, 2013)
Hi I have come across a situation in a company where the company was incorporated in the year 2016-17 but the operations of the company have not yet commenced. The company raised a substantial amount of loan for procurement of Assets required for starting the operations. Part of the loan amount is utilized for payment of the purchase price. The remaining amount is invested in short term FDs with one of the nationalized banks. As such the company has earned Non Operational Income in the form of interest on FDs. The following are my queries 1. How should the expenses be treated during the year 2017-18? Can they be treated as Pre-Operative Expenses or should they be treated as regular expenses? 2. Assuming the operations will commence in the fourth quarter of 2017-18, can the expenses incurred till third quarter be treated as pre-operative expenses? Thanks in advance for your response. BY: Hari Chandan Vemuri No answers yet View Answers | Post Answers |
| 18739 |
Sep. 18 2017 |
Registration of Sub Broker of Shares/ Securities –
(GST)
What shall be registration criteria of brokersub-broker of shares securities specifically with respect to aggregate turnover. Whether commission earned shall only be part of aggregate turnover. BY: MASHENDRA KUMAR MASHI No answers yet View Answers | Post Answers |
| 18740 |
Sep. 18 2017 |
sales return to unregistered person –
(GST)
IN GST3B IN TABLE 3.2 INTER STATE SUPPLIES TO UNRGISTERED PERSON STATE WISE DETAIL BE GIVEN IF THERE IS NO SALE IN ANY STATE BUT ONLY SALES RETURN HOW TO REPORT BECAUSE MINUS AMOUNT IS NOT ACCEPTED IN GST OR NOT TO REPORT, WHILE IN TABLE 3.1 TOTAL SUPPLIES NET OF RETURN IS REPORTED BY: SHYAM SUNDER No answers yet View Answers | Post Answers |
