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Click here to Post your Query >>5983 unanswered question(s) — Showing 5161–5180
| Que. Id | Date | Description |
|---|---|---|
| 2803 |
May. 22 2006 |
FBT Treatment u/s. 115JB –
(FBT)
Q. Whether FBT would be allowable deduction while computg book profit u,s. 115JB Our Views : 1. U,s. 115JB sub-section (2) expnation (a) - the amount of come tax paid or payable and the provision thereof creae the amount of net profit as shown profit and account for the purpose of computg book profit. 2. Chapter XII-H of I.T. Act 1961 i.e. come Tax on Frge Benefit clearly mentioned that tax chargable on Frge Benefit is call come Tax 3. Section 115WA specify the tax on Frge Benefit as additional come Tax respect of Frge Benefit Therefore refferg 2 and 3 pot the tax on Frge Benefit is primarly part of come Tax therefore it should be added to net profit u,s. 115JB sub-section (2) for computg book profit. ' BY: neelam daultani No answers yet View Answers | Post Answers |
| 2808 |
May. 22 2006 |
Clarification on Notification 12/2006 dt.19.4.2006 –
(Service Tax)
Recent Notification 12,2006,dt.19.4.2006- para 5 -stiputes that reimbursible expenses like travellg, telephone etc.should also be taken a,c alongwith professional fees for chargg service tax.Does this mean that if an architects fee is say Rs.10000,- and he cims Rs.2000,- as reimbursement of travellg,telephone exp.,than he shall collect & pay service tax on 12000,- @ 12.24% OR collect & pay on Rs.10000,-@ 12.24% only. ' BY: TRIVEDI PANKAJ JAYANTILAL No answers yet View Answers | Post Answers |
| 2809 |
May. 22 2006 |
A partnership firm not registered under service tax since gross receipts below 4.00 lakhs. Is it necessary to get registered in view of the recent amendment –
(Service Tax)
New fance bill has taken away exemption. Which exemption is taken away? i. Exemption from registration? ii. Already registered but exempted from chargg service tax. this exemption is taken away? is it necessary to register for every C.A. firm? and recover service tax from clients for providg services? ' BY: vinata vaidya No answers yet View Answers | Post Answers |
| 2793 |
May. 21 2006 |
2760 –
(DIRECT TAXES)
This querry pertas to a case where the non-agricultural come exceeds Rs.1,11,240,- which is not eligible for rebate u,s 88D(b). ' BY: Atulkumar Venilal Varaiya No answers yet View Answers | Post Answers |
| 2769 |
May. 19 2006 |
Service tax Vs Vat –
(INDIRECT TAXES)
Dear Members, One of my clients dog the busess of networkg of computers(formation technology services) has to purchase equipments for the said purpose and stall these equipments on the customersite by yg cables,pipes etc. Whether he has to pay VAT on the goods supplied or on workscontract? While billg he has to split the cost for staltion separately, is it liable for service tax aga? otherwords whether he has to pay service tax as well as vat ? ' BY: thomas k george No answers yet View Answers | Post Answers |
| 2771 |
May. 19 2006 |
FBT Annual Return –
(DIRECT TAXES)
Sir, As per sec 115 WD, the due date for filg annual urn of FBT is 31,10,2006 for companies. Which is the form for filg annual urn? Whether the filg of annual urn is manual filg or like e-tds? ' BY: SATISH CHANDRA S JAIN No answers yet View Answers | Post Answers |
| 2774 |
May. 19 2006 |
whether one free article given with one article purchased rebate and discount or sales promotion expenses. –
(AUDIT)
A garment manufacturg company sells goods on a scheme of one get one free.what will be the treatment of one free article given. if company made some deduction from the bill amount then what will be the treatment e.g. 1)one shirt worth rs.1000,-given with the purchase of one shirt worth rs.1000,- 2)when 50% discount given on total bill amount of rs.2000,-of two shirts. ' BY: rahul gupta No answers yet View Answers | Post Answers |
| 2777 |
May. 19 2006 |
Rented out house property –
(DIRECT TAXES)
Dear Sirs, Kdly advice on the followg two issues, with case w references, if any: 1. Whether own (employees) house rented out to the company for more than 300 days and given back as rent free accomodation by the company to the employee, will be an exempt asset ? 2. Whether there is any exemption for house property, which could not be occupied beg broken down or habitable ? ' BY: Deepak Azad No answers yet View Answers | Post Answers |
| 2762 |
May. 18 2006 |
Service tax for electrical contracots –
(INDIRECT TAXES)
Pl. comment of the service tax liability to Electrical contractor executg rial contract to builders who build apartments (beg more than 12 fts) ' BY: S S RAO No answers yet View Answers | Post Answers |
| 2763 |
May. 18 2006 |
Impairment of Assets –
(AUDIT)
sir subject: Impairment of assets under AS 28 A company was runng to es for servral years. The bankers have fanced both term loans and Cash credit to the company. Due to poor recovery of loans stalments and ter, the bankers have cssifed the account as NPA. The bankers have carrried out External Audit of books of accounts of the company, for ascertag the health of the company. The terms of scope, objective and reference to the external auditors clude valuation of factory buildg, pnt and machery and factory nd. The external auditors, have valued the said assets and have given 1. repcement value, 2. Fair market value and 3. Reliasable value of asses under review The values arrived at are significant variation to book values. Should the company, recognize impairment thankg you shekar ' BY: Naishadam Chandrashekar No answers yet View Answers | Post Answers |
| 2764 |
May. 18 2006 |
Gift from a person Citizen outside Indai –
(CORPORATE & OTHER LAWS)
Dear All, Hi ! I have a query on FEMA provision. Can a Citizen of dia accept Gifts (Irrevocable & on Non-repatriation Basis) of money Foreign Exchange by way of transfer to recipients Savgs Account from a person who is Citizen of country out dia and the Payer is neither an NRI or a PIO ? If yes, then what is the maximum limit for such receipt of money ? What are the procedure for receipt of such money to dia ? Whether any documents is required to be filed & furnished to RBI and, or FEMA Authorities ? What documents the Beneficiary should obta from the payer for protection of his ters ? Is there any prohibition on the Country of Source (Like Pakistan, Bangdesh, Cha, Nepal, Africa, Iran etc.) ? I thk from come Tax Pot it is covered u,s 56(2) and is taxable at the applicable rate of Tax the hands of receipient though it is received Foreign Exchange and through Normal Bankg Channels. Please Crify. Thanks CA Rajiv Srivastava ' BY: Rajiv Kumar Srivastava No answers yet View Answers | Post Answers |
| 2765 |
May. 18 2006 |
Billing for Coop Soc. Audit –
(AUDIT)
Dear Collegues, Could someone pl tell me the billg pattern for Statutory Audit of an dustrial Coop. Society? It has not been possible for me to get the book published by our stitute reg the same. ' BY: Pradnya Mohan Oak No answers yet View Answers | Post Answers |
| 2749 |
May. 17 2006 |
Deduction Under Section 80C, 80CCC, 80CCD –
(DIRECT TAXES)
The deduction under these sections are avaible to a dividual and HUF. Is the duduction avaiable to only a rent dividual or it is avaible to Non rent dividual also? Please advice. ' BY: Pavananshu Saxena No answers yet View Answers | Post Answers |
| 2750 |
May. 17 2006 |
Import of machinery on more than 5 yeas –
(Customs & Excise)
I would like to import one machery from spa on lease for 5-10 years. How to arrive assessable value for custom and whether any benefit will be avaible on export of the same after lease. ' BY: Jitesh Kumar Laddha No answers yet View Answers | Post Answers |
| 2752 |
May. 17 2006 |
Service Tax on Freight received by Railway Booking Agents –
(Service Tax)
Pl. Exp whether service tax is applicable on goods transported through railway SLRS Thanks ' BY: RAJEEV BANSAL No answers yet View Answers | Post Answers |
| 2753 |
May. 17 2006 |
deduction u/s80IBand 80HHC –
(DIRECT TAXES)
1)can SSI amanufacturer exporter can cim both 80IB&80HHC deduction together and if yes than both should be calcuted dependently on GTI or otherwise ?give decisions thi regards ifg possible. 2)can the expoter cim deduction u,s 80IB on the duty draw back element which is cluded its profit ?give decsions support of your answer. 3)whether duty draw back come is treated as come derived from busess for dedduction u,s 80IB?give judgements favourg your answers . with resrds sanjay purohit. ' BY: PUROHIT SANJAY No answers yet View Answers | Post Answers |
| 2754 |
May. 17 2006 |
Benefit of Section 54 of I.T.Act –
(DIRECT TAXES)
Assessee will construct a rential house. After shiftg to the new house assessee will sell the old house property where presently he is residg. What procedure to be followed with the time period so that assessee can get 100% benefit under section 54. ' BY: DIPAK PAL No answers yet View Answers | Post Answers |
| 2732 |
May. 16 2006 |
Unabsorbed depreciation –
(DIRECT TAXES)
For the AY 2005-06 Company A, the assessee, was havg only come from other sources.While calcutg the taxable come for AY 2005-06, the unabosrbed depreciation of the AY 2000-01, AY 2001-02, AY 2002-03 and AY 2003-04 has been set off agast the come from other sources. But I understand that the unabsorbed depreciation of AY 2000-01 and AY 2001-02 is not eligible for set off agast come from other sources and it can be set off only agast busess come as per the provisions that were prevailg before amendment of Sec 32(2) by Fance Act 2001. I need the followg to be crified: 1. Whether the unabsorbed depreciation can be set off agast come from other sources (there was no busess come for Ay 2005-06)? 2. If so, Whether the unabsorbed depreciation of AY 2000-01 and Ay 2001-02 could be set off agast other come? 3. After the amendment of 32(2) by F.Act 2001, what is the status of unabosrbed depreciation of AY 2000-01 and AY 2001-02 for the AY 2005-06 - Whether it can be carried forward only for 8 Asst years and whether it can be set off only agast buisness come? Thank you ' BY: Balaji.S No answers yet View Answers | Post Answers |
| 2733 |
May. 16 2006 |
About SAP –
(FINANCIAL MANAGEMENT)
Dear Sir, I want to Know About SAP FICO module(Fancial & Management). Wether it is useful to a CA. Sir I want to take up this course.PLZ. advice me its benefit & SAP stitutions dia. ' BY: Mayank Agarwal No answers yet View Answers | Post Answers |
| 2734 |
May. 16 2006 |
Deduction U/s. 80C - Bank Fixed Deposit... –
(DIRECT TAXES)
Is Bank F.D. with co-oprative bank (or only nationalised Bank F.D.)for 5 yrs lock period is allowed as deduction u,s.80c from A.Y. 2007-08 onwards?? ' BY: SANJAY SHAH No answers yet View Answers | Post Answers |
