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Que. Id Date Description
39300
Jul, 21
2019
TDS/TCS - ( FILLING OF 26Q IN CASE OF NIL TRANSACTIONS )

A PERSON HAD NO TRANSACTIONS DURING 1ST QUARTER.SO NO PAYMENT WAS THERE AND NO DEDUCTION OF TAX ?? WHICH FORM SHOULD HE FILL FOR QTR 1 ??

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 0 | View Answers | Post Answers

39301
Jul, 21
2019
DIRECT TAXES - ( RELIEF U/S. 90 )

Dear Sir, One of my client has earned salary income for 2 months in FY 2018-19 in USA. He has also paid tax on it. My query is that - Whether he is allowed to claim relief in respect of all the taxes paid in USA like Fedral Income Tax, Social Security tax, Medicare tax or only Fedral Income Tax? Please clarify the same. Thanking you, Regards Hayedar Shaikh

BY: HAYEDAR SALEEM SHAIKH

Total Answers : 0 | View Answers | Post Answers

39298
Jul, 20
2019
GST - ( CASH FLOW IN 9C )

Please guide us do we need to attach cash flow in all cases while auditing filling gstr -9c

BY: deepak

Total Answers : 0 | View Answers | Post Answers

39299
Jul, 20
2019
GST - ( GST ON RESTAURANT )

Hi , A Food Operator has taken a franchisee, serving ice Cream to their customer through the Retail shops in India and Also through E-commerce Operator with the rate of 5%, Such person has also not taken any Composition scheme for the Restaurants, Now the queries are:- 1. Franchisee fees, Rental for retail shops could be allowed as an input tax credit. 2. If such person will give their franchisee rights to other person and receipt some amount, then can we offset the franschisee fees Input tax credit against the tax liability on Receipt amount.

BY: Shobhit Bansal

Total Answers : 0 | View Answers | Post Answers

39296
Jul, 19
2019
TDS/TCS - ( MEDICINE EXPORT 15CB TDS )

Company has to pay registration fees to foreign government for getting his medicine registered in that country Does the amount to be remitted is liable for TDS deduction under Income Tax and DTAA of Uzbekistan In my opinion TDS under IT to be stated @20.6% while we claim exemption under article 7 of DTAA Please guide really urgent

BY: DIVYA AGGARWAL

Total Answers : 0 | View Answers | Post Answers

39297
Jul, 19
2019
DIRECT TAXES - ( JDA )

JDA AGREEMENT ENTERED INTO IN 2013.LANDLORD GOT SAY,20 LACS AS SECURITY DEPOSIT AND SHOWN AS LIABILITY IN B/SHEET. IN 2018,PROMOTER AND LANDLORD ENTERED INTO SEPARATE AGREEMENT TO SALE OUT LANDLORD`S PORTION FOR CONSIDERATION OF SAY RS 2 CR. AND RECEIVED RS 5 LACS IN FY 2018-19 AS PART PAYMENT. LANDLORD DOES NOT HAVE GST NUMBER. WHAT WILL BE THE INCOME TAX & GST IMPLICATION IN THE BOOKS OF LANDLORD ??

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 0 | View Answers | Post Answers

39295
Jul, 18
2019
GST - ( EWAY BILL GENERATED BY MISTAKE IN LAST FY 18-19 )

Dear Professionals, Please guide for the below case study. For the FY 2018-19, my Client's Turnover as per GSTR-3B & Books is 10 Lacs(Assumed).He is involved only in interstate sale of goods.The Turnover as per the E-Way bills generated is coming to 11 Lacs.(Extra way Bill generated twice for same invoice by the client) In April-19 he received a notice(DRC-01) from the department u/s 73 for payment of differences of output tax coming as per returns and way bill. The notice had a demand of CGST and SGST on differential of 1 lacs instead of IGST. The same was also paid by the client under the wrong head SGST and CGST. Now the point is that the notice amount has been paid under the wrong head and the extra way bill was also generated by mistake. How to proceed in above case.

BY: Anuj Kumar Khaitan

Total Answers : 0 | View Answers | Post Answers

39293
Jul, 16
2019
DIRECT TAXES - ( AUDIT FOR COMMISSION AGENTS )

Whether Commission agents receiving less than 50 Lacs commission have to get tax audit if their net income comes below 50% of commission

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

39294
Jul, 16
2019
GST - ( INPUT TAX CREDIT ON CAPITAL GOODS )

In case of registered dealer, dealing in taxable goods only, is ITC on capital goods to be availed in 60 instalments or full ITC can be availed in one go ?

BY: Rikta Karia

Total Answers : 1 | View Answers | Post Answers

39291
Jul, 15
2019
DIRECT TAXES - ( WHETHER 30% STANDARD DEDUCTION )

Whether 30% standard deduction is allowed on let out of Commercial Property by shop owner ?

BY: HARJEET

Total Answers : 3 | View Answers | Post Answers

39292
Jul, 15
2019
Income From Salary - ( SALARY RECEIVED FROM FOREIGN COMPANY IN CHINA )

Individual is rendering services from India to chineses company. They are paying him a salary and tax free allowances. My question is 1. Applicability of income tax on the tax free allowance given by chinese company. 2. Exchange rate to be taken on monthly salary

BY: Nitin Porwal

Total Answers : 2 | View Answers | Post Answers

39289
Jul, 13
2019
GST - ( UNABLE TO GENERATE JSON FILE FOR GSTR 9C )

WE ARE NOT ABLE TO GENERATE GSTR 9C .PLEASE SHARE YOUR VIEWS IN DETAIL INCLUDING SIGNATURE PART OF AUDITOR.

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 1 | View Answers | Post Answers

39290
Jul, 13
2019
GST - ( PASSING OF GST PAID THROUGH PL A/C )

SOME ACCOUNTANTS ARE PASSING GST & LATE FEE PAID THROUGH PL A/C .IS IT CORRECT PROCESS ?? PLEASE SHARE YOUR VIEWS.

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 3 | View Answers | Post Answers

39283
Jul, 12
2019
DIRECT TAXES - ( TAXABILITY OF PPF INTEREST )

WHAT WILL BE THE TREATMENT OF INTEREST EARNED ON PPF.ACCORDING TO SEC 10(11) IT IS AN EXEMPT INCOME.SHALL WE INCLUDE THIS IN TOTAL INCOME AND THEN CLAIM EXEMPTION UNDER TABLE 7 OF ITR 1 ?? PLEASE SHARE YOUR VIEWS.

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 5 | View Answers | Post Answers

39284
Jul, 12
2019
GST - ( APPLICABILITY OF GST )

A firm located in India is providing digital marketing, ticket booking and customer support services for a cruise company in Australia. The Australian company have been paying in Australian dollars to the firm. Some of the customers of the Australian company are from India and they are ready to pay in INR to the Indian firm directly for the tickets booked. Does the firm has to register under GST and pay on this transaction??

BY: Achuthan P

Total Answers : 0 | View Answers | Post Answers

39285
Jul, 12
2019
GST - ( INTER STATE BRANCH SALES AT COST )

One of my client sell goods to its branch in another state at cost . Whether taxable value (which is actually cost to the client) shown in the invoice can be taken as open market value? Whether he has to add additional 10% in accordance with rule 30.

BY: NIRAJ PM

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39286
Jul, 12
2019
DIRECT TAXES - ( DEDUCTION OF INTEREST ON HOUSING LOAN IF PAYMENT MADE OUTSIDE INDIA )

If a person is paying interest on housing loan from a financial institution outside india (whose income is tax free in that country), whether the payer (who gets her salary from WHO which is Tax Free) needs to deduct the TDS on that for claiming the interest on housing loan.

BY: CA Neha Gupta

Total Answers : 0 | View Answers | Post Answers

39287
Jul, 12
2019
DIRECT TAXES - ( LTCG ON SALE OF US SECURITIES BY INDIAN RESIDENT )

If a person who is filing the ITR as a Resident this year and who has some Long-term capital gains from sale of equities of US outside India, whether it is taxable in India and if taxable, at which rate. As per my knowledge, Section 5 says that every Resident is liable for taxes on income earned from from outside India as well. and Also, as per section 112: LTCG is taxable @ 20%. Hence, the LTCG on sale of Securities of US is taxable @ 20% in India.

BY: CA Neha Gupta

Total Answers : 1 | View Answers | Post Answers

39288
Jul, 12
2019
DIRECT TAXES - ( DETERMINATION OF BOOK PROFIT IF A PARTNERSHIP FIRM HAS OPTED FOR 44AD )

If a partnership firm has opted for 44AD, the turnover is Rs 50,00,000 and the profit declared thereon is Rs 3L (being 6% of Rs 50L) and the partners of the firm are getting the remuneration of Rs 10L each (there are 2 partners). How Book Profit will be calculated so that maximum amount of partners Remuneration allowed as per law is determined.

BY: CA Neha Gupta

Total Answers : 3 | View Answers | Post Answers

39280
Jul, 11
2019
GST - ( SHORT CREDIT GIVEN IN 2A )

OUR CLIENT SHOWN ACTUAL CREDIT AND UTILISED THE SAME DURING 2017-18,BUT THE FELLOW SUPPLIER HAD NOT SHOWN PROPERLY IN GSTR 1DUE TO USE OF WRONG GSTIN.THAT`S WHY THERE IS A SHORTFALL OF 27 LACS IN 2A AS COMPARED TO 3B. WHAT SHALL WE DO ??

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 3 | View Answers | Post Answers

39281
Jul, 11
2019
DIRECT TAXES - ( DISCLOSURE OF GIFT IN ITR )

Whether it is required to disclose gift received from father in income tax return. and if required where we have to disclose.

BY: Shobhit Bansal

Total Answers : 3 | View Answers | Post Answers

39282
Jul, 11
2019
MISC. - ( STATUTORY AUDITOR CERTIFICATE FOR FINANCIAL INFORMATION )

We require to sign a certificate addressed to "National Skill Development Corporation" for RFP to be submitted by Client. The certificate is prescribed in a format which contains the clause that " We understand that we are solely responsible for the captive employment of at least 50% candidates trained from the Target Allocated under this RFP" As a PCA should we take we sole responsibility as mentioned and the sign the certificate.

BY: TEKCHAND BODHWANI

Total Answers : 2 | View Answers | Post Answers

39278
Jul, 10
2019
MISC. - ( DIRECTORSHIP FOR CA IN PRACTICE )

Can a Chartered Accountant in full time practice become director in a co and if yes, whether permission of ICAI is required.

BY: Shobhit Bansal

Total Answers : 4 | View Answers | Post Answers

39279
Jul, 10
2019
AUDIT - ( REMOVAL OF AUDITORS IN CASE OF PARTNERSHIP FIRM )

How a statutory Auditors /tax auditors firm can be removed? if he has denied to give his resignation

BY: CA. BISHT RAKESH

Total Answers : 2 | View Answers | Post Answers

39277
Jul, 08
2019
DIRECT TAXES - ( 80EEA AND 80IBA BUDGET CHANGES_2019 )

As per Section 80EEA, Rs 1.50 lacs deduction is allowed if: (a) loan sanctioned during 2019-2010 (b) value upto Rs 45 lakhs (c) assessee's first residential HP. Now, is there any condition of carpet area i.e. property is limited to 60/90 sq meter carpet area under section 80EEA.

BY: Shobhit Bansal

Total Answers : 3 | View Answers | Post Answers

39275
Jul, 06
2019
MISC. - ( UDIN )

We are certifying the P & L & B/s of client, to whom section 44AD is applicable by making the note as unaudited financial statements on the basis of which IT return is Filled. Is it mandatory to generate the UDIN for the same.

BY: NADIR D SHAIKH

Total Answers : 5 | View Answers | Post Answers

39276
Jul, 06
2019
DIRECT TAXES - ( 425727 )

I have to file return of a Charitable Trust running a School, which neither have a 12AA registration nor eligible to exemption under any clause of section 10(23C), Now my questions are: 1. Which ITR form is to be selected 5 or 7. 2. Whether Tax Audit u/s 44AB or any other Audit under the provisions of Income Tax Act. 3. Whether the trust is eligible for Basic tax exemption of Rs. 250000.

BY: SHYAM KUMAR SHARMA

Total Answers : 3 | View Answers | Post Answers

39272
Jul, 05
2019
GST - ( TRANSACTION VALUE FOR SALE OF CAPITAL ASSETS UNDER GST )

As per CGST Rule 32(5), second hand goods sold by second hand goods dealer, transaction value (TV) shall be the margin portion (ie selling price and purchase price) on which GST to be charged. As per Notf 8/2018 CTR dt 25.1.18, sale of used vehicle by any registered person, TV shall be the margin portion. (Situtation – Vehicle lying as fixed asset sold) Other than the above Rule or notification, Is there any other rule or notification which says that TV shall be margin, for sale of any other used asset (say furniture or computer or printer lying as fixed asset).?

BY: Sivaraman A.R.

Total Answers : 2 | View Answers | Post Answers

39273
Jul, 05
2019
MERGER & ACQUISITION - ( MERGER OF TRUST )

Whether a charitable trust registered under 12A running an educational institution having immovable properties and not able to run the institution succesfully due to the advanced age of the managing trustee can merge with another charitable institution registered under 12 A

BY: nagappan.sm

Total Answers : 2 | View Answers | Post Answers

39274
Jul, 05
2019
MERGER & ACQUISITION - ( MERGER OF TRUST )

What is the procedure for merging a charitable trust registered under sec. 12 A with another such Trust?.suppose if the charitable has immovable properties - land and buildings whether they have to be sold before merging?

BY: nagappan.sm

Total Answers : 2 | View Answers | Post Answers

39265
Jul, 04
2019
Income From Salary - ( TAX ON NOTICE PERIOD DEDUCTION )

TDS was deducted on salary income including notice period deduction from the first employer. Now filing income tax return how to show this notice period deduction to get a refund of the TDS deducted on notice period amount?

BY: Hunny Badlani

Total Answers : 4 | View Answers | Post Answers

39266
Jul, 04
2019
DIRECT TAXES - ( 079710 )

We have filed ITR for AY 18-19 and disallowed 100% of whole figure on which TDS was not deducted (Instead of 30% dis allowance) . The same is also 100% disallowed in Form 3CD inadvertently . Now department has further disallowed additional 30% of amount which was already disallowed compute Tax demand . Now what is remedy . Can we rectified u/s 154 as we have already excess disallowed or prefer an appeal

BY: SANDEEP KAPOOR

Total Answers : 3 | View Answers | Post Answers

39267
Jul, 04
2019
AUDIT - ( TAX AUDIT CEILING )

If an individual is having gross receipt (Turnover) Exceeding 1 crore but less than 2 crore and he declares profit below 8% than this particular audit will come under the audit ceiling of 60 Tax Audit U/s 44AB or not?

BY: Kachhawa Dinesh Dahyaji

Total Answers : 3 | View Answers | Post Answers

39268
Jul, 04
2019
GST - ( REVERSE CHARGE ON COMPOSITE SUPPLIER )

Could anybody please through light on liability of composite service provider who is liable to GST @6 % (w.e.f. 01.04.2019) on advances received and at what rate if he is liable.

BY: CA. KANTIPUDI VEERA VENKATA SATYANARAYANA

Total Answers : 1 | View Answers | Post Answers

39269
Jul, 04
2019
Companies Act, 2013 - ( MOA OF PRIVATE LIMITED COMPANY )

I need a draft format of MOA for company which will be engaged in Amusement Activities such as Water Park etc

BY: PALLAV

Total Answers : 1 | View Answers | Post Answers

39270
Jul, 04
2019
GST - ( ITC REVERSAL IN TOUR & TRAVEL INDUSTRY )

This query is regarding ITC reversal in case of a company engaged in Tour & Travel industry. Suppose there is total turnover of Rs 10L in a month:- 1. Rs 6L is 5% sale (package sale). 2. Rs 4L is 18% sale (commission Income). There is total ITC of Rs 1L in that month which is as follows: 1. ITC directly related to commission Income is Rs 40,000. 2. ITC related to Package sale is Rs 30,000. 3. Common ITC is Rs 30,000. So, the total ITC reversal is as follows: 1. Rs 30,000 ( being amount directly related to supply on which ITC cannot be taken) 2. Rs 18,000 ( Rs 30,000* Rs6L/Rs 10L) Kindly confirm the same.

BY: CA Neha Gupta

Total Answers : 1 | View Answers | Post Answers

39271
Jul, 04
2019
DIRECT TAXES - ( BOOKS OF ACCOUNTS )

If a person is earning commission income & also he has another business in which wishes to opt for 44AD.. First case-by-case Whether he can opt for 44AD for one business if he is having commission income as his secondary income. Second case- If in place of commission Income, he is having professional income and wishes to opt 44ADA. Whether 44AD can be opt for if 44ADA is chosen. Thanx in advance.

BY: CA Neha Gupta

Total Answers : 2 | View Answers | Post Answers

39260
Jul, 03
2019
GST - ( GST ON APPLICATION FORMS AND TENDER FEES )

A Municipal Corporation collects (1) Rs. 100/- towards charges for application forms for awas yojna (under Affordable Housing) (2) Charges for tender application documents for awarding various outsourced work of corporation. Whether GST is applicable in both the cases? If yes under which head GST is to be collected.

BY: DARSHAK MAGANLAL THAKKAR

Total Answers : 0 | View Answers | Post Answers

39261
Jul, 03
2019
MISC. - ( WHETHER OUTSTANDING EXPENSES IS INCLUDED IN CONSTRUCTION / DEVELOPMENT COST UNDER RERA FOR FORM 3 CE )

I have doubt under RERA 1. Suppose builder purchases material and incurred direct expenses for construction of a building, then for issuing Form 3 for cash withdrawal from a bank account, whether any outstanding payment (balance payment to be made to Creditors) towards the purchase of Material (Cement, Bricks etc) and Direct expenses (labour, rent of machinery) is to be included or not in Development/construction cost for Form 3 under RERA. (w.r..t.Maharashtra RERA) 2.Whether Closing stock is to be deducted from development/construction cost under RERA for issuing Form 3.(w.r.t. Maharashtra RERA)

BY: SHEKHAR KUNDLIK SAWANT

Total Answers : 0 | View Answers | Post Answers

39262
Jul, 03
2019
INDIRECT TAXES - ( MANAGEMENT REPRESENTATION LETTER )

As per the technical guide published by ICAI-Indirect Tax Committee on GST audit,we need to take Management Representation letter (MRL) from the client GSTIN wise. Can we take MRL on PAN India basis i.e single MRL for all the GSTIN considering all the relevant fields of MRL.

BY: Nidhi Aggarwal

Total Answers : 1 | View Answers | Post Answers

39263
Jul, 03
2019
GST - ( COMPENSATION INCASE OF DEATH )

Is there any compensation which has been paid incase of death of proprietor who is registered under GST.

BY: Shobhit Bansal

Total Answers : 0 | View Answers | Post Answers

39264
Jul, 03
2019
Profits & Gains of Business & Profession - ( TAXABILITY OF LLP U/S 44AD )

A LLP is having Turnover of Rs.35 lacs. The same is interested to show profit below 8% of the Turnover. Whereas provision of Sec 44AD are not applicable for LLP. Whether the LLP can do so. If not whether Tax Audit is compulsory even though Turnover is less than Rs.1 cr. and Profit showing less than 8% of the Turnover..

BY: AJAY JAIN

Total Answers : 3 | View Answers | Post Answers

39257
Jul, 02
2019
Profits & Gains of Business & Profession - ( 078994 )

Under Sec 44 AE kindly clarify taxability of Heavy Goods Vehicles. As per reading of the provisions of the Section, it appears that if Gross Vehicle weight is more than 12 Mt, its taxable @ Rs.1000/- per MT. Whereas there is difference in Gross Vehicle Weight and Unladen Weight. Which weight is to be taken

BY: AJAY JAIN

Total Answers : 1 | View Answers | Post Answers

39258
Jul, 02
2019
GST - ( INTEREST FOR EXCESS CREDIT TAKEN IN TRAN 1 )

ONE OF CLIENTS GOT LETTER FROM DEPT CHARGING INTEREST U/S 50 OF CGST ACT FOR EXCESS TRAN CREDIT AVAILED UPTO THE PERIOD OF REVERSAL OF EXCESS CREDIT TAKEN. QUERY : IS THERE ANY OTHER RECOURSE THAN MAKING PAYMENT ??? SHALL WE GET LEGAL HELP IF WE GO FOR APPEAL ?? YOUR OPINION IS HIGHLY SOLICITED WITH REFERENCE TO SECTION,RULE,NOTIFICATION AND CASE LAWS.

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 0 | View Answers | Post Answers

39259
Jul, 02
2019
GST - ( INTEREST FOR EXCESS CREDIT TAKEN IN TRAN 1 )

ONE OF CLIENTS GOT LETTER FROM DEPT CHARGING INTEREST U/S 50 OF CGST ACT FOR EXCESS TRAN CREDIT AVAILED UPTO THE PERIOD OF REVERSAL OF EXCESS CREDIT TAKEN. QUERY : IS THERE ANY OTHER RECOURSE THAN MAKING PAYMENT ??? SHALL WE GET LEGAL HELP IF WE GO FOR APPEAL ?? YOUR OPINION IS HIGHLY SOLICITED WITH REFERENCE TO SECTION,RULE,NOTIFICATION AND CASE LAWS.

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 1 | View Answers | Post Answers

39255
Jul, 01
2019
GST - ( RCM ON FREIGHT CHARGE TO TRANSPORTER )

Freight charges being paid to transporter by the purchaser. The same is being reimbursed by the supplier in the form of credit note. Who is liable to pay GST under RCM on freight charges?

BY: Anuj Kumar Khaitan

Total Answers : 3 | View Answers | Post Answers

39256
Jul, 01
2019
GST - ( GST ON RCM ON RAW COTTON )

Dear Sir Our client is working as kacha artiya. the payment is received by him and is given to the agriculturist after deducting his commission. He did not record this purchase and sales in his books and only account his share of the commission. Now i want to ask whether he will be liable to reverse charge even though he does not record the same in his books. Or he will be liable only on those purchases of raw cotton which he records in his books as purchases. We are however paying GST at the time of sale.

BY: VIPIN GUPTA

Total Answers : 1 | View Answers | Post Answers

39254
Jun, 29
2019
GST - ( SURRENDER/ CANCELLATION OF GSTN )

X AN INDIVIDUAL HAVING A TIN NO BEFORE GST WAS ALLOTTED A GST NO BY SYSTEM. NOW X REALIZED THAT TIN NO WAS ALREADY SURRENDERED ON 31.05.2016, BUT DUE TO SOME REASON THE TIN NO WAS NOT CANCELLED BY THE VAT AUTHORITY. NOW HE APPROACHED THE VAT AUTHRORITY AND GOT TIN NO CANCELLED WEF 2016. MY QUERY IS AS GSTN NO IS ALLOTED BY GST SYSTEM TO MR X, AND IS UNDER PROVISIONAL BASIS, MR X HAS NOT UPDATED THE GSTN NO. NOW HE WANTS TO SURRENDER/CANCEL THE GSTN NO. SO WHAT IS THE PROCEDURE TO SURRENDER THE GSTN NO. WHETHER NOW HE WILL HAVE TO FILE ALL THE GSTN RETRUN FROM 01.07.18 TO UP TO DATE, SO THAT HE WILL BE ABLE TO CANCEL THE SAME, HE HAS NO GSTN SALE RIGHT FROM BEGINNING. BUT IF HE FILES THE GSTN RETURN THEN LATE FEE OF HIGH VALUE WILL ARISE, WITHOUT ANY FAULT OF ASSESEE WHAT TO DO IN THIS CASE.

BY: pradeep kumar agrawal

Total Answers : 4 | View Answers | Post Answers

39251
Jun, 28
2019
GST - ( GST )

Dear Sir One of our client is registered in Rajasthan he has taken stall in exhibition at chennai where he will display its products. we are supplying goods on delivery challan for display no sale will happen there, but we may get orders from there. Do we have to take registration as casual taxable person or not at chennai

BY: VIPIN GUPTA

Total Answers : 4 | View Answers | Post Answers

39252
Jun, 28
2019
TDS/TCS - ( TDS ON LISTING FEE AND INTEREST TO BSE )

1. Whether listing fee paid to Bombay stock exchange is liable to TdS? 2. Whether interest on listing fee is liable to TDS?

BY: Sivaraman A.R.

Total Answers : 2 | View Answers | Post Answers

39253
Jun, 28
2019
DIRECT TAXES - ( TDS ON PAYMENTS TO GOOGLE, FACEBOOK ETC )

Whether TDS is required to be deducted on payments to Google, FB etc. If yes, how TDS can be deducted on such payments

BY: CA Neha Gupta

Total Answers : 3 | View Answers | Post Answers

39250
Jun, 27
2019
DIRECT TAXES - ( REVISING RETURN FOR AY 2018-19 )

AY 2018-19 intimation U/S 143(1)(a) received. Addition happened. Now found an error in return. Now what is the recourse. Also observed that the auditor has made slight typographical mistake that has led to addition.

BY: DARSHAK MAGANLAL THAKKAR

Total Answers : 4 | View Answers | Post Answers

39246
Jun, 26
2019
TDS/TCS - ( TDS ON PAYMENTS TO INDIAN RAILWAYS )

Municipal Corporation - local authority has to make a contractual payment to Indian Railways. Whether local authority is required to deduct tax at source on payment to be made to Indian Railways?

BY: DARSHAK MAGANLAL THAKKAR

Total Answers : 4 | View Answers | Post Answers

39247
Jun, 26
2019
GST - ( GST TYPE WHETHER CGST/SGST OR IGST )

Company is exporting the goods through courier company. My query is courier company is charging IGST whether it was correct as both company are in the same state.

BY: Shobhit Bansal

Total Answers : 3 | View Answers | Post Answers

39248
Jun, 26
2019
DIRECT TAXES - ( EXCHANGE RATE FOR EXPENDITURE INCURRED IN FOREIGN CURRENCY )

Hello Professional Colleagues, Can you please guide me on which exchange rate is to be considered in income tax for expenditure incurred in foreign currency and also paid in foreign currency through EEFC account? (Which exchange rate is to be considered in Books of account for booking the Expenditure in INR?)

BY: Manisha

Total Answers : 2 | View Answers | Post Answers

39249
Jun, 26
2019
GST - ( REVERSE CHARGE )

GST on Transfer fee received by Municipality (who is registered) from lessee is under reverse charge i.e. lessee has to pay GST and not Municipality. Now if in this case if lessee is unregistered then who has to pay GST. Is Municipality liable to pay GST because lessee is unregistered?

BY: DARSHAK MAGANLAL THAKKAR

Total Answers : 2 | View Answers | Post Answers

39243
Jun, 25
2019
AUDIT - ( CONSOLIDATION OF FINANCIAL STATEMENT )

The audit for Fy 2017-18 of holding and its subsidiaries companies was done by M/s XYZ and Company, Chartered accountants and resigned . Can the Consolidation for FY 2017-18 be done by another Auditors?

BY: CA. BISHT RAKESH

Total Answers : 1 | View Answers | Post Answers

39244
Jun, 25
2019
GST - ( UPLOADING DIGITALLY SIGNED GSTR 9 C )

Whether any body has submitted successfully digitally signed GSTR 9C on portal? I have a digitally signed GSTR 9 C by auditor but system is showing error upon upload Though No error report is generated. Other documents like PDF files of Balance sheet and Profit and loss account are also not getting uploaded. A big headache.

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

39245
Jun, 25
2019
GST - ( TDS CREDIT ISSUES FOR DEDUCTEE )

I am a Registered Supplier in GST and having some supplies to Government. Invoices are being raised on periodic basis, however payment is made by Government on account basis not on Bill to Bill basis. Therefore When i go through my TDS credits, which are linked with payment made by Government, I am unable to distinguish the actual credits and reconcile the same. Now, Problem before me are following:- 1. Once I file my TDS credits, can i change it on subsequent period, 2. I have filed TDS credits for the month of October, 2018. In December, 2018 i came to know one more entry pertaining to October 2018, how can i get the credit of the same now. 3. In month of January 2019, I have made 10 supplies to various government institutions. TDS in respect of 9 out of 10 supplies are being received. Can i go ahead with taking credit of these 9 supplies and for balance one supply how can i get credit of the same.

BY: GAURAV GOYAL

Total Answers : 1 | View Answers | Post Answers

39236
Jun, 24
2019
GST - ( REFUND IN CASE OF SUPPLY TO SEZ UNIT )

Dear sir, we have supplied works contract service to sez unit. my query is after amendment in Sec 54 (8)(a) can we claim refund of tax paid on final service but not collected from SEZ unit or we can only claim refund of unclaimed itc on Inputs. Is both options available to us

BY: VIPIN GUPTA

Total Answers : 3 | View Answers | Post Answers

39237
Jun, 24
2019
GST - ( REGISTRATION )

A person is engaged in business of booking air tickets (both domestic and international) on behalf of his clients (for end users or sub-travel agents), from IATA approved travel agent situated across the country. He raises invoice for his services by specifically mentioning an amount for tickets booked on reimbursement nature and service charge / commission on the said booking distinctly. Further he separately receives an incentive from IATA approved travel agent for booking made through them. His commission / service charge and incentives received does not exceed Rs. 20 Lacs per year. Does ticket amount is included in his turnover? Whether is he required to get himself registered under GST? And if yes, can he take the benefit of Notification No.10/2017 – Integrated Tax dated 13.10.2017?

BY: Shyamal Jariwala

Total Answers : 3 | View Answers | Post Answers

39238
Jun, 24
2019
GST - ( TAXABLITY UNDER GST )

A person is an agent of Mutual Fund Assest Management Companies, General Insurance Companies as well as Life Insurance companies. He gets commission from the respective companies on the SIP instalments or premium on the General / Life Insurance policies paid by his clients. Is it mandatory for himself to get registered even if his commission is below Rs. 20 Lacs? How is he required to pay GST on all three commission incomes and at what rate?

BY: Shyamal Jariwala

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39239
Jun, 24
2019
GST - ( GST ON TRANSFER FEE BY MUNICIPALITY )

A Municipality has given some premises on lease. Now with retrospective date they are revising the transfer fee and amount alongwith interest become receivable by government and payable by lessee. When will GST liability arise and it yes does it fall under reverse charge?

BY: DARSHAK MAGANLAL THAKKAR

Total Answers : 1 | View Answers | Post Answers

39240
Jun, 24
2019
GST - ( UNABLE TO CREATE JSON FILE FOR GSTR 9C )

WE ARE UNABLE TO CREATE JSON FILE FOR GSTR 9C AND SIGN DIGITALLY.HOW TO SOLVE THIS PROBLEM ??

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 2 | View Answers | Post Answers

39241
Jun, 24
2019
Companies Act, 2013 - ( DPT-3 FILING )

For a private limited company having outstanding Overdraft facility from scheduled bank and outstanding directors loan in their books of account, please clarify the following: 1) Whether they have to file under Option 1 and option 3 coming under "Purpose of the Form" in DPT 3? 2) Is Statutory Auditors Certificate is necessary in both cases?

BY: NIRAJ PM

Total Answers : 1 | View Answers | Post Answers

39242
Jun, 24
2019
GST - ( REVERSAL OF ITC IN COMPARSISON WITH GSTRA . )

My client, a manufacturing plant has reversed the ITC with respect to invoices not appearing in GSTR2A , for 2017-18, in September 2018 and reclaimed some of it back in March 2019,when the supplier uploaded the invoices . How is this reversal and reclaim be reflected in the tables 12,13 and 8C of GSTR9?

BY: Rama Subash

Total Answers : 2 | View Answers | Post Answers

39230
Jun, 22
2019
Service Tax - ( SERVICE TAX ON BOREWELL SERVICE TO AGRICULTURALIST )

Borewell service provide to only Agriculturalist, whether it is taxable or not?? or provider can claim exemption under Renting of Agro Machinery?

BY: Ninad Prataprao Shete

Total Answers : 1 | View Answers | Post Answers

39231
Jun, 22
2019
DIRECT TAXES - ( DEDUCTION U/S 80D (MEDICLAIM) )

ESIC DEDUCTED ON SALARY, CAN EMPLOYEE CLAIM AMOUNT OF ESIC DEDUCTED FROM HIS SALARY U/S 80D, AS THE AMOUNT IS DEDUCTED FOR THE MEDICAL FACILITIES OF EMPLOYEE

BY: pradeep kumar agrawal

Total Answers : 4 | View Answers | Post Answers

39232
Jun, 22
2019
DIRECT TAXES - ( PENALTY NOTICE U/S 274 R.W.S. 271 (1) (C) )

Whenever ITO want to initiate penalty proceedings u/s 271 (1 ) (c) he first mention this fact in assessment order that penalty proceedings are intiated separately and after then only he issues a separate notice under section 274 r.w.s. 271 (1) (c) . But in my case ITO issued notice u/s 271 (1) (c) without mentioning this fact in assessment order that he is going to do so. Whether this act of ITO is legal ?

BY: CA. Jimmy Modi

Total Answers : 2 | View Answers | Post Answers

39233
Jun, 22
2019
GST - ( REAGARDING GSTR 9C JSON GENERATION & SIGNING )

After validating the offline utility excel sheet of GSTR 9C, whenever I am trying to generate JSON file, it is showing a pop up that an error has occurred during signing and JSON could not be created. Comments/ Suggetions required regarding above

BY: ANISH SAHA

Total Answers : 2 | View Answers | Post Answers

39234
Jun, 22
2019
GST - ( RCM ON TRANSPORT )

During 2017-18 , the Registered person ( Recipient ) has not paid GST on RCM basis on Transport ? . So now if he pays in GSTR 9 then any ITC available or it is ITC is lapsed ? 

BY: samirkumar gokulbhai kasvala

Total Answers : 3 | View Answers | Post Answers

39235
Jun, 22
2019
GST - ( RCM ON TRANSPORT )

During 2017-18 , the Registered person ( Recipient ) has not paid GST on RCM basis on Transport ? . So now if he pays in GSTR 9 then any ITC available or it is ITC is lapsed ? 

BY: samirkumar gokulbhai kasvala

Total Answers : 2 | View Answers | Post Answers

39227
Jun, 21
2019
GST - ( ANOMALY IN GSTR 2A )

What will happen if figures shown in Credit & Liability statement under "ITC as per gstr 2A" and in form 9 under table 8A does not match ?? Please share your views.

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 6 | View Answers | Post Answers

39228
Jun, 21
2019
GST - ( GST )

Dear Sir, Our client car has meet with an accident and for its make up Rs 300000/- were incurred and later on We have received the amount from insurance company do we have to pay tax on Insurance Claim Received.

BY: VIPIN GUPTA

Total Answers : 4 | View Answers | Post Answers

39229
Jun, 21
2019
GST - ( GST OF DTA COLLECTED AND REMITTED UNDER SEZ GSTIN )

A SEZ developer having place of business in both SEZ and DTA. They only had GSTIN for SEZ during the month of July 2017, August 2017 and September 2017. Hence, they collected and remitted GST as IGST under SEZ GSTIN in the during July to September 2017. (Instead of CGST/SGST under DTA GSTIN) It was as inadvertent mistake. No rectification had been done for the same till date. How to solve this issue? Will the assessee be required to pay GST again under DTA GSTIN? If so required , will the assessee be able to use the IGST mistakenly paid (under SEZ GSTIN) for discharging IGST liability (under SEZ GSTIN) ? How to disclose this in GSTR 9 and GSTR 9C ?

BY: Ranjani Umesh

Total Answers : 2 | View Answers | Post Answers

39218
Jun, 20
2019
DIRECT TAXES - ( 103762 )

For AY 2018-19 a charitable trust has filed belated ROI. The return was processed and total expenditure which was claimed as application of income was disallowed applying section 12A(1)(ba) which is applicable from AY 2018.19

BY: DARSHAK MAGANLAL THAKKAR

Total Answers : 3 | View Answers | Post Answers

39219
Jun, 20
2019
GST - ( INPUT CREDIT )

IN GSTR 3B input credit on Inter State purchase wrongly reported under the head "Import of Goods" instead of "All Other input credit" in the IGST column. How it will be rectified in the subsequent month?

BY: ramakrishnasridhar

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39220
Jun, 20
2019
Companies Act, 2013 - ( NEW DIR KYC FORM )

As per the notification, DIR KYC 3 form is required to be filed every year. But till date no such form was made available for current year filing and the last date is 30th June 2019. How to proceed.

BY: SURAJ KUMAR CHOUDHURY

Total Answers : 1 | View Answers | Post Answers

39221
Jun, 20
2019
GST - ( INPUT CREDIT VS CREDIT IN GSTR 2A )

GSTR 2A CREDIT AVAILABLE IN 2A is not matching with the credit in form GSTR 9. How to resolve the issue?

BY: SURAJ KUMAR CHOUDHURY

Total Answers : 3 | View Answers | Post Answers

39222
Jun, 20
2019
CORPORATE & OTHER LAWS - ( DPT-3 FORM )

Whether pvt ltd company having unsecured loans from directors and having outstanding as on 31-03-2018 is also required to file the same? Or the same would come under any of the exclusions.

BY: SURAJ KUMAR CHOUDHURY

Total Answers : 2 | View Answers | Post Answers

39223
Jun, 20
2019
Companies Act, 2013 - ( ANNUAL FILING OF RETURNS OF PVT LTD COMPANY )

Whether there is any change in the formats of Annual returns and financial statement of a private limited company over last year, if any? If it is so, what is latest format of these statements, any link?

BY: SURAJ KUMAR CHOUDHURY

Total Answers : 1 | View Answers | Post Answers

39224
Jun, 20
2019
MISC. - ( CONVERSION OF TRUST TO SECTION 8 CO. )

Whether it will be possible to convert a trust into a section 8 Co.

BY: Shobhit Bansal

Total Answers : 2 | View Answers | Post Answers

39225
Jun, 20
2019
GST - ( SALES RETURN IN GSTR 3B )

One of my client while filing GSTR 3B in the year 2018-19 showed tax on sales return in ITC part instead of deducting it from taxable value and from GST of respective month of GSTR 3B. Kindly advise how to correct the error he made.

BY: NIRAJ PM

Total Answers : 3 | View Answers | Post Answers

39226
Jun, 20
2019
Companies Act, 2013 - ( DPT 3 FORM )

FLAT BOOKING AMOUNT (TO BE SHOWN AS ADVANCE RECEIVED FOR MORE THAN 365 DAYS) A PVT LTD COMPANY HAS RECEIVED FLAT BOOKING ADVANCE FROM DIFFERENT PERSONS AMOUNTING TO RS 50 L. THE ADVANCE ARE ACCUMULATING SINCE 2 AND HALF YEAR AS ON 31.03.2019. MY QUERY IS WHETHER IT IS TO BE SHOWN IN DPT 3 IN ADVANCE RECD FOR MORE THAN 365 DAYS

BY: pradeep kumar agrawal

Total Answers : 1 | View Answers | Post Answers

39215
Jun, 19
2019
GST - ( REFUND UNDER GST )

Sir, The registered person is into export of software and has missed claiming ITC in books for the year 17-18. He claims the same in the return for the month of sept 18. while filing refund application for the year 17-18, the refund claim gets restricted to the input disclosed in Form 3B. Can the refund of input relating to FY 17-18, claimed in sept 18, be applied for in the next FY? will this be disallowed as the bills against which the ITC refund is claimed relates to previous year?

BY: Anjana C.P

Total Answers : 2 | View Answers | Post Answers

39216
Jun, 19
2019
GST - ( GST PRACTITIONER REGISTRATION )

01.Whether registration as a GST Practitioner is necessary for filing/signing of GSTR 9C ? 02.Whether GSTR 9C requires DSC of CA for signing/uploading form ?

BY: ramakrishnasridhar

Total Answers : 3 | View Answers | Post Answers

39217
Jun, 19
2019
Income From Salary - ( TAXABILITY OF SALARY WHEN RENDERED OUTSIDE INDIA )

If a resident renders services outside India as an employee, whether it will be taxable in India or not..??

BY: CA Neha Gupta

Total Answers : 1 | View Answers | Post Answers

38215
Jun, 18
2019
DIRECT TAXES - ( PRESUMPTIVE TAXATION FOR A FIRM )

If a partnership firm (not a LLP) is filing its ITR for the first time. Its total income as per BOA is Rs 10L and the profit, if opt for presumptive taxation comes out to be Rs 2L... Whether the firm should go for presumptive taxation or not...???

BY: CA Neha Gupta

Total Answers : 6 | View Answers | Post Answers

38212
Jun, 17
2019
GST - ( GST )

Sir, we are selling a car which is a business assets the assessee has purchased the same in pre GST regeim and not claimed any ITC on it. On which value we have to pay tax on transaction value or the margin i.e Sales Price - WDV

BY: VIPIN GUPTA

Total Answers : 6 | View Answers | Post Answers

38213
Jun, 17
2019
DIRECT TAXES - ( SEC 80-D )

Whether deduction on preventive health checkup of Rs. 5000/- may be claimed in generally or assessee has to maintain any proof regarding the same

BY: VISHAL GOLCHHA

Total Answers : 3 | View Answers | Post Answers

38214
Jun, 17
2019
GST - ( GSTR-9 & 9A )

Assessee was in composition scheme from 01.07.17 to 15.10.17 and converted to Regular Scheme thereafter. GSTR-3B for 15.10.17 to 31.10.17 filed by wrongly taking credit of purchase bills during the period 01.10.17 to 31.10.17 instead of 16.10.17 to 31.10.17. Wrong ITC claim detected now and not yet rectified in returns. How to reflect the same in annual return?

BY: Anuj Kumar Khaitan

Total Answers : 4 | View Answers | Post Answers

38210
Jun, 16
2019
GST - ( GSTR 9C )

After uploading GSTR 9C file Portal shows error but no error report is generated What to do

BY: Mahesh Kumar

Total Answers : 1 | View Answers | Post Answers

38211
Jun, 16
2019
GST - ( GSTR9A )

Whether it is mandatory to enter purchases incase of gstr 9a composition scheme

BY: Shobhit Bansal

Total Answers : 2 | View Answers | Post Answers

38209
Jun, 15
2019
Capital Gains - ( PROCEEDS FROM SALE OF LAND )

Proceeds from sale of land (by father) has been invested in purchase of a property but the property has been purchased in joint name and first name is of daughter and second name is of father. Whether the tax benefit of investment in property has been available to father or not in this case.

BY: Shobhit Bansal

Total Answers : 2 | View Answers | Post Answers

38203
Jun, 14
2019
GST - ( GST PAID ON PAINTS FOR MAINTAINANCE OF BUILDING (SHOP/FACTORY )

Whether amount spent on paints can be claimed as input Credit

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

38204
Jun, 14
2019
GST - ( EXCHANGE RATE FOR EXPORT/ IMPORT OF SERVICES )

WHAT EXCHANGE RATE SHOULD BE TAKEN FOR EXPORT/IMPORT OF SERVICES IN GST?

BY: SUMIT BANSAL

Total Answers : 5 | View Answers | Post Answers

38205
Jun, 14
2019
DIRECT TAXES - ( 80TTA DEDUCTION )

If there is saving interest which has been set-off against business losses, whether deduction u/s 80TTA is available or not?

BY: CA Neha Gupta

Total Answers : 4 | View Answers | Post Answers

38206
Jun, 14
2019
GST - ( 525746 )

Would like to discuss a case study on Place of Supply provision and Taxation on Telecommunication Services provided to overseas customer. Let suppose ABC Pvt Ltd (India) registered under GST, providing services on Voice over Internet service to customer located in US of Rs 100,000/- talk time having minutes whose call will be made by a authorised person of US M/s Rattan solution Pvt. Ltd. in India to US customer/target audience & US number will be display to US audience. Also, Call will be made from US switch which is belonging to third party. ABC Pvt Ltd has procured from India supplier at Rs 80,000/- without GST. Looking : 1. What shall be place of supply where bill is done to US Company and their taxation on which value and consideration will be in INR. 2. What will be case where billing to authorised person of US located in India (Rattan Solution Pvt Ltd.) and payment will be made in INR. 3. If taxable then, value can be take Net basis (Rs 100,000/- minus Rs 80,000/-) Rs 20,000/- as No Input tax credit paid on purchase as not registered.

BY: Pankaj Kumar Sharma

Total Answers : 1 | View Answers | Post Answers

38207
Jun, 14
2019
DIRECT TAXES - ( PRESUMPTIVE TAXATION IN CASE OF DIRECTORSHIP IN A COMPANY )

If a person is a notified professional u/s 44AA(1) and also a director in a company, Whether that person can file ITR under presumptive taxation in ITR-3..?? Thanx.

BY: CA Neha Gupta

Total Answers : 2 | View Answers | Post Answers

38208
Jun, 14
2019
GST - ( PLACE OF SUPPLY IN CASE OF HOTEL )

If a Delhi based Hotel charges Conference Fees from its B2B client based in some other state, whether Place of Supply shall be Delhi or that state in which it's client is is based..?

BY: CA Neha Gupta

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