A
Arun S
Background:
On behalf of the Canadian Government, the client (FPP) is organizing a virtual education fair to promote Canada as a study abroad destination. FPP sells the virtual booth per school/university and we promote the event for students from this region (South Asia).
Each institution will have its own booth and FPP will bring students to interact directly with these Canadian institutions.
FPP promote the virtual event to students using mostly social media and sometimes local PR companies.
If one of the students want to apply to study in this school/university, all the following process will be directly between the school/university and the student. FPP is not involved in this process.
- The Indian companies are paying the fee to book the booth and join this virtual event. The price is set in accordance with the Canadian Government - CAD 2,000 to 2500.(Approximate). The Indian Company will make payment to Canada
- the institution that will process the payment is Indian Company (in Delhi) (Having GST & PAN number)
Query:
- Is the Indian Equalization Levy (Digital Tax) is applicable on Fees paid for booking booth.
- To whom it is applicable (Foreign company or Indian Company)
- How it works.
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firstly you need to understand on which transaction Equalisation levy is applicable.
As of now it is applicable on two types of transaction online advertisement where payment made to online website situated outside india and on e commerce operator.
I don't think you fall under any of above category.
Please reframe your question or we can have a paid consultation and discuss the query.
If you need any assistance feel free to contact me at canamanmaloo@gmail.com
C
Chirag Sharma
I have purchased a flat from cooperative society. the components of the payment made include interest on land on which cooperative society is built amounting to rs 3 lac. total consideration including aforesaid interest is 52 lac which cast tds deduction liability on me under 194 ia
cooperative society officials have a view that such Interest component should not be considered as part of consideration and than total consideration will be 49 lac and there will be no 194ia liability
whether such interest will form part of consideration for hhe purpose of 194ia or not
Dear Sir,
Total payment made is Rs. 52 lacs whether interest part or not, all the payments made will be considered as consideration. Hence Sec 194IA will be applicable.
For more information call at 7667559772
D
Dr. Saurabh Shakya
I have filed my tax return on 15 june 2020 for the AY 2020-2021. but my return is still not orocessed.. how log it takes??
The time limit to process ITRs by the Income tax department is within one year from the end of the financial year in which ITR was filed.
T&C applyV
Vijay Gs
ITR filed under section 54 insted of 54F regarding exemption of LTCG from sale of society allotted site and purchase of FLAT investing full sale consideration. Do I need to rectify
Sec 54 applies on sale of residential property and 54F applies on sale of any assets other than residential property
CA Jaya Agarwal 9 Oct 2020Dear Sir,
You should rectify the return as both section deals with different type of property.
Capital Gain on sale of vacant allotted by housing society is it treated as Residential property or other than Residential property please clarify
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Vaibhav
Please consider my below Employment history and advise me about taxability on PF withdrawal. Employer 1: May 2012- May 2014 (2 yr) - PF held at EPFO. Employer 2: June 2014 - Feb 2019 (4 yr 8 months) - PF held at Employer's trust. Employer 3: Feb 2019 - Present - PF held at EPFO. I now wish to withdraw my PF from Employer 2, which is held in their trust and not transferred by me. E1 PF was with EPFO (and its now transferred to E3 PF account at EPFO). So can I ask Employer 2 to consider my service as 5+ continuous years, by including 2 years spent with E1. And hence E2 should not deduct TDS on my PF withdrawal. Is this understanding correct?
When you transfer your EPF funds from one Employer to another and your Total employment is 5 years or more then no TDS will be deducted. Hence your total employment will be considered from E1i.e more than 5 years.For any other clarification pls reply
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