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Discussion / Re: sec. 56(2) unintended consequences
« Last post by vsaiyar on September 02, 2015, 07:48:38 PM »
What one needs to understand is that the bonus shares are not paid for by the receipient, but does have a cost.  The price of shares quoted before bonus if is X exbonus the valus the shares is halved.   One needs to go through the taxation of bonus shares in the past so that the matter will be come clear.  In view of this the argument of the AO will not be sustained.
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Discussion / Re: sec. 56(2) unintended consequences
« Last post by vsaiyar on September 02, 2015, 07:48:14 PM »
What one needs to understand is that the bonus shares are not paid for by the receipient, but does have a cost.  The price of shares quoted before bonus if is X exbonus the valus the shares is halved.   One needs to go through the taxation of bonus shares in the past so that the matter will be come clear.  In view of this the argument of the AO will not be sustained.
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Discussion / transactions of shares- whether capital gain or business
« Last post by sai prasad on August 27, 2015, 12:10:25 PM »
dear members
how to categorise the following  vis-a-vis dept.ciruclars and judicial precedents
1. shares  purchase and sale on the single day - delivery based
2. shares purchase and sale with a gap of 20 to 60 days
3. what is the turnover for F&O transactions. whether it is the net result of the transaction

pl give your view on the above
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Discussion / Re: FTS from Hong Kong
« Last post by adit11983 on August 26, 2015, 10:47:31 AM »
Thanks alot for your precious time Mr Singla ...just some confusion...Part II With heading " Rates For Deduction of Tax At Source in Certain Cases" does mention rates for section 193,194,194 A, 194AB, 194BB, 194D, and 195 ...so with my limited knowledge of Tax, i think section 195 is also prescribing rates. Any how i am issuing 15Cb as per your guidance. 
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Discussion / Re: FTS from Hong Kong
« Last post by pawansingla on August 25, 2015, 08:32:20 PM »
In a non-DTA country, 115A is the section whose rates will be applicable. So he is to be taxed as per 115A. S 195, as such, does not specify rates. The rates have to be decided based on taxability.
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Discussion / Re: FTS from Hong Kong
« Last post by pawansingla on August 25, 2015, 02:02:15 PM »
SECTION 195 IS ONLY CHARGING SECTION.IT DOES NOT PRESCRIBES THE RATES.GIVE ME SOME TIME,I  WILL REPLY IN DETAIL.
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Discussion / Re: FTS from Hong Kong
« Last post by adit11983 on August 25, 2015, 01:58:54 PM »
Thanks sir...but the moot question is 195 is the principal section for TDS how can we go for 115 section
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Discussion / Re: FTS from Hong Kong
« Last post by pawansingla on August 25, 2015, 01:43:23 PM »
go for 115A or you can also file application u/s 195(2) with ACIT/ITO international taxation for more clarity.
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Discussion / Re: FTS from Hong Kong
« Last post by adit11983 on August 22, 2015, 06:38:53 PM »
Please reply
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Discussion / Re: sec. 56(2) unintended consequences
« Last post by sai prasad on August 20, 2015, 05:42:21 PM »
what one has to cosider is that bonus shares are not cost bearing. the market rates on the exchange  are not relevant because of the basic characteristics of the  item involved. we can take  clues or draw an analogy from already decided matters. let us explore .
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