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Click here to Post your Query >>5983 unanswered question(s) — Showing 5621–5640
| Que. Id | Date | Description |
|---|---|---|
| 1348 |
Jan. 13 2006 |
Service tax on construction service -residential flats –
(DIRECT TAXES)
a) X & Co, a firm, carryg on the busess as builders,developers,contractors obtas local authority approval for construction of 49 fts on nd owned by it.It sold the undivided ter nd to 49 persons through valid conveyance. Purchasers of undivided ter nd (49 members)entrusted construction work to the firm. Is X & co liable to pay service tax ? If yes what is the taxable service value ? b) Will your answer be different had X & co stead of sellg undivided t. nd, constructs 49 fts and then sells them ? ' BY: GANESH B KANCHAN No answers yet View Answers | Post Answers |
| 1333 |
Jan. 12 2006 |
FBT –
(DIRECT TAXES)
One of my clients, a private limited co., has not yet paid Frge Benefit Tax the hope that it would be scrapped while the appeals are the High court. I had read somewhere that the amount can be deposited a separate current account. Can some one please guide me whether the whole amount of frge benefit tax or the tax g to disputed items (items which are strictly not ed to employees and are not any benefits to the employees) has to be deposited the current account? Account has to be opened with any bank and whether any specific name or format sugged? ' BY: KETAN KRISHNAKANT DESAI No answers yet View Answers | Post Answers |
| 1340 |
Jan. 12 2006 |
FBT –
(DIRECT TAXES)
whether conveyance allowance,expenses paid to legal,audit and other consultants of a public limited company comes under the perview of FBT? ' BY: ashok No answers yet View Answers | Post Answers |
| 1325 |
Jan. 11 2006 |
Depreciation Under IT Act while preparing Quarterly Financial Statement –
(DIRECT TAXES)
Our Client is a listed company and preparg Quarterly Facial statement. Now while makg provision of Frge Benefit Tax for 3rd quarter ended whether it will have to take full depreciation on motor car block (As use of car is exceedg more than 180 days at the end of 3rd qtr.)or it will have to take depreciation upto 31st december only on pro rata basis. ' BY: chandan verma No answers yet View Answers | Post Answers |
| 1328 |
Jan. 11 2006 |
AS 13 Dimunition in the value of Investment –
(AUDIT)
Background: The Company is a listed company havg two subsidiaries. One of the subsidiary is a wholly owned subsidiary engaged Agri Busess. The Holdg Company has ved shares to the extent of Rs.200 cs and made Advances to the tune of Rs.200 cs this subsidiary. The said subsidiary is now not carryg on the agri busess but it has let out the nd belongg to it to the holdg company for Research & Development activities on Annual Rent of Rs.42 cs. Apart from this come the subsidiary company has no other source of come. the light of the above, please give your opion on the followg: 1.Whether the books of the Holdg company, provisiong is required for Dimunition the value of vment under AS 13? 2.Whether the books of the Holdg company, provisiong is also required for Advances made to the subsidiary which is doubtful of recovery but for this adjustment for Rent? 3.If, the answer to 1 & 2 is YES, then how the same should be treated the books of subsidiary company? ' BY: M.Sunder No answers yet View Answers | Post Answers |
| 1318 |
Jan. 10 2006 |
fringe benefit tax –
(DIRECT TAXES)
dear friends, my quion is a public limited company whose shares are listed has curred expenditure by way of nance of car exclusively for the managg director. will it attract Frge Benefit tax? ' BY: b. ashok No answers yet View Answers | Post Answers |
| 1304 |
Jan. 09 2006 |
IS SERVICE TAX APPLICABLE ON BEARTH HIRE CHARGES & MACHINERY HIRE CHARGES –
(INDIRECT TAXES)
WHAT IS THE APPLICABILTY OF SERVICE TAX ON BEARTH HIRE CHARGES AND MACHERY HIRE CHARGES .IF APPLICABLE THEN UNDER WHICH SERVICE AND WHAT ARE THE GROUNDS OF APPLICABILITY ? ' BY: satyendra sahu No answers yet View Answers | Post Answers |
| 1305 |
Jan. 09 2006 |
AM I LIABLE TO FILE SERVICE TAX RETURN? –
(DIRECT TAXES)
SIR, EXEMPTION FROM SERVICE TAX NET HAS GIVEN ME A CHANCE TO TAKE THAT OPTION.AS PER THAT, A PERSON WHOSE TAXABLE TURNOVER IS BELOW RS 400000, IS NOT COVERED BY S T ACT. NOW MY QUION IS WHETHER I AM REQUIRED TO FILE HALF YEARLY ST URNS AS I HAVE OPTED FOR THIS EXEMPTION YOURS VEERENDRA. ' BY: VEERENDRA .MURASHILLIN No answers yet View Answers | Post Answers |
| 1308 |
Jan. 09 2006 |
fRINGE BENEFIT TAX ON FOREIGN TRAVELLING BY THE PARTNERS –
(DIRECT TAXES)
A partnership concern bears the expenditures for the Foreign Travellg of its partners. Sce the partners are the owners of the company will the firm be liable to pay the Frge benefit Tax on the Foreign Travellg expenditure borne by the company? ' BY: Vishal Thacker No answers yet View Answers | Post Answers |
| 1302 |
Jan. 08 2006 |
REGARDS SERVICE TAX ON TRANSPORTERS –
(INDIRECT TAXES)
WHETHER PROPRIETORY CONCERNS ARE COVERED BY SERVICE TAX RULES FOR TRUCK FREIGHT PAYMENTS BY THEM IF SERVICE TAX PYMENT DETAILS ARE NOT GIVEN ON TRUCK BUILTIES OR MEMOS? ALSO EXP US WHETHER PROPRIETORY FIRM WILL GET BASIC EXEMPTION LIMIT OF RS. 4.00CS PROVIDED UNDER THE SERVICE TAX RULES? ' BY: MANISH RAMNIKLAL MEHTA No answers yet View Answers | Post Answers |
| 1290 |
Jan. 07 2006 |
Remission of Secured Loan –
(DIRECT TAXES)
The Company is engaged agricultural busess. Its come is exempt u,s 10. Due to heavy es, the company approached the Banker for an ONE TIME Settlement scheme of term loans secured by first charge of nd, Buildg & Pnt & Machery bes perosnal guarantee of director. Now, the bank has wavied off Rs.25 cs beg ter accrued and due to bank under the OTS Scheme. Please advice on the followg: 1. whether this waiver would attract come tax? 2. If it is taxable, then whether the unabsorbed depreciation of earlier years can be set off agast this come? ' BY: M.Sunder No answers yet View Answers | Post Answers |
| 1300 |
Jan. 07 2006 |
Tax credit u/s 90 for salary earned in u.k to resident and ordinary resident of india –
(DIRECT TAXES)
Dear Sir, I have client who is rent and ordary rent of dia for a,c year 05-06 and received sary from u.k for stay of 6 months on which tax has been already deducted u.k . I would like to know article of double taxation under which he will benefited by tax credit or tax exemption and also exact method for the same ' BY: arpit khandhar No answers yet View Answers | Post Answers |
| 1281 |
Jan. 06 2006 |
Double - Service tax –
(INDIRECT TAXES)
I am a Chartered accountant practice. I am assistg my client preparation of project reports. My client charges service tax the for the service rendered on the bill raised. I will charge fees for services rendered by me. Do i need to charge service tax for the service, sce tax is already charged by my client. ' BY: govardhana reddy No answers yet View Answers | Post Answers |
| 1283 |
Jan. 06 2006 |
EMBEZZLEMENT OF CASH –
(DIRECT TAXES)
Date : 06,01,2006 EMBEZZLEMENT OF CASH Q. Theft of the Cheque of the assessee premises and produced the Bank after dog the forged signature by some unknown person and cheque has been cleared from bank without assessee signature . The assessee has written concern to the bank and form to the bank has filed the FIR on behalf of the Assessee. Assessee has also written to police station. The Assessee has cimed expenses P& L account the same has been disallowed by the ITO as well as CIT on the followg ground that: 1) It is not a busess Expenditure . 2) Action has not taken by the Assessee. ( FIR lodged by Bank ) . 3) Cheque has been stolen by unknown person ( Not a Employee of the Company ) . the above view please sugg further action and which case w can be quoted addition to the Ram Chandar Shivnarayan . CIT (1978) 111 ITR 0263. ' BY: R C Jain No answers yet View Answers | Post Answers |
| 1286 |
Jan. 06 2006 |
treatement of loss or profit on shares dealt in future market o –
(DIRECT TAXES)
my clients have capital ga from delivery based shares and also curred from dealg shares future market. The shall be treated as busess or specution ? Will it be possible to trate the as short term capital while the shares are not delivered ? ' BY: ASHWINI NAGAR No answers yet View Answers | Post Answers |
| 1275 |
Jan. 06 2006 |
1423 –
(DIRECT TAXES)
My quion is will it attract tax rate of 20% u,s 112(1) or 10% under proviso to 112(1). ' BY: K Praveen Shenoy No answers yet View Answers | Post Answers |
| 1263 |
Jan. 05 2006 |
For FY 2005-05 Profit or Loss Equity Stock Options Contracts listed on NSE & BSE –
(DIRECT TAXES)
For the FY 2005-05 Profit or on sale or purchase of Equity Stock Options Contracts listed on NSE & BSE is conred as STCG or specutions ga or . ' BY: Prashant No answers yet View Answers | Post Answers |
| 1264 |
Jan. 05 2006 |
1392 –
(DIRECT TAXES)
Thank You Anurag for your answer. I agree that the net conration is to be ved. Please refer to the dates that I have mentioned. My quion is whether the ved amount which lies partially unutilised one year is eligible the next year (the criteria of one year before is met). I hope u can get my pot. Please give ur no. so that i can exp u detail. thanks once aga ' BY: BRIJESH PODDAR No answers yet View Answers | Post Answers |
| 1267 |
Jan. 05 2006 |
Capital Gains –
(DIRECT TAXES)
One of my client purchased a rential plot for Rs.2.5 cs August 2004 now he has an offer of sale of same plot which will brg him Rs.29 cs as net sale conration,he wants to purchase another plot for Rs.36 cs(to be paid 6 stalments over two years period)What should he do to avoid Capital Gas Tax? ' BY: anju sharma No answers yet View Answers | Post Answers |
| 1271 |
Jan. 05 2006 |
Long Term Capital Gains –
(DIRECT TAXES)
If a listed security on the stock exchange is not beg traded at the exchange by virtue of the scrip beg barred from tradg on the exchange by the regutory authority, and the scrip is sold off the market (i.e. not through the exchange), will it attract capital gas @10% under proviso to sec 112 (1) or will it be taxed at a ft rate of 20% u,s 112(1)? ' BY: K Praveen Shenoy No answers yet View Answers | Post Answers |
