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| 40987 |
Mar, 05
2021
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DIRECT TAXES - ( FORM 15H )
A senior citizen above 80 years is going to submit Form 15 H
by 10 th Mar 21 asking TDs deductor to not deduct TDS for Interest to be credited on 31-3-2021 for Financial year 2020-21.By which date deductor should upload the same to Income Tax department
BY: Mahesh Kumar
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| 40988 |
Mar, 05
2021
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DIRECT TAXES - ( TDS ON FILIPKAT COMMISSSION )
An Individual is supplying material online through Filipkart. Filipkart is remitting payment to the Individual after deducting its Commission and certain other charges. Whether the Individual is liable to deduct TDS on the payment/? If yes, how the same will be treated?
If TDS is deductible, whether it can be avoided by taking any exemption Certificate from the Income Tax Department.
BY: AJAY JAIN
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| 40983 |
Mar, 04
2021
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GST - ( GST UNDER RCM BY SEZ UNITS )
Whether SEZ units are liable to pay GST under RCM on GTA and legal services? Even if they pay and take ITC of the same, they have to apply and claim the same as refund. So why pay GST under RCM? Please clarify.
BY: balasubramanian
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| 40984 |
Mar, 04
2021
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GST - ( GST ON LEASED IMMOVABLE PROPERTY )
Whether a 12A Registered Trust can give , on Lease for 29 years, it's part Immovable Property - Building to another 12A Registered Trust , for the same objects.
The property giving Trust is shaving Receipts from School , say Rs.1.5 cr on which GST is not applicable. It earns Lease Rent of Rs 2 lac per year.
Whether GST registration is required
BY: AJAY JAIN
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| 40980 |
Mar, 03
2021
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GST - ( PLACE OF SUPPLY OF SERVICE )
A person is engaged in providing bike rental services in Goa. Services are provided to tourists who are often from outside Goa and address of such tourists is available with the service provider. The bike is to be used within Goa only and not to be taken outside Goa. Whether such transaction will be liable to IGST or CGST+SGST?
Thanks
BY: vikas kalra
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| 40981 |
Mar, 03
2021
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GST - ( GSTR9C )
Taxes paid on advance received for booking of flats before GST Regime and Tax paid under GST period for advance received but invoice is issued during current year. how the same should be shown in GSTR9 and GSTR9C.
Current Year Profit and loss account shows sales on which taxes paid prior to GST Regime and during GST period on advances basis.Kindly resolve.
BY: Sachin
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| 40979 |
Mar, 02
2021
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DIRECT TAXES - ( SUBMISSION OF FORM 15H )
Dear Friends,
A resident individual will complete 60 years in November, 2021. Fo r the Fin. Yr. 2021-2022, can he submit Form 15H to the Bank in April, 2021 for non deduction of tax at source from interest income. Please clarify.
BY: Sudeep B. Sarwate
Total Answers : 1 | View Answers | Post Answers
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| 40975 |
Mar, 01
2021
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GST - ( REFUND APPLICATION )
After creating Refund file (Under inverted tax structure) Cells to be filled eg Total Turnover,adjusted turnover are not activated.Further after uploading json file of Refund application Errors list is displayed showing various errors in Purchase details reason items not being displayed in GSTR 1 while purchase entries are never displayed in GSTR 1 (AlThough items are matching with GSTR 2A) Whether this is a fault of Software?
BY: Mahesh Kumar
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| 40977 |
Mar, 01
2021
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DIRECT TAXES - ( DTAA )
An Indian company paying Design fee relating to Textile Garment to "Non Resident Individual person" residing in UK. Is it possible to remit under Article 15,"Independent Personal Services" of India and UK DTAA ?
BY: SHRIDHAR
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| 40973 |
Feb, 24
2021
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GST - ( WRONG PAYMENT IN GST )
Instead of CGST and SGST , paid IGST for the FY 2017-18. If the company pay CGST and SGST now can we claim the wrongly paid GST (IGST). Is there any time limit? Time limit of 2 years is applicable to this transaction?
BY: MADHUSUDHANA REDDY KS
Total Answers : 1 | View Answers | Post Answers
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| 40974 |
Feb, 24
2021
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MERGER & ACQUISITION - ( REGARDING MERGER OF TWO PROPRIETORSHIP FIRMS )
I have 2 Questions?
First one is :--This is CA Jyoti Mahajan, I am Proprietor of B & Associates(2017). Another firm is C & Associates(2013) (Proprietorship) with whom I want to merge my CA Firm B & Associates. What will be the constitution of merged firm C & Associates and what will we both proprietor represent mean either proprietor or partners of merged firm and what will be the date of constitution of merged firm?
Second Ques is :-- If B & Associates partnership having proprietor of C & Associates as partner and later on C & Associates merge with B & Associates then what will be the Implications and whether will get the benefit of oldest firm(2013)?And whether we should register merged firm with different name or can continue with B & Associates? and If in future C & Associates wants to demerge from B & Associates then what will be implication on B & Associates and C & Associates regarding date of constitution ?
BY: JYOTI MAHAJAN
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| 40971 |
Feb, 20
2021
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MISC. - ( HIRING OF PAID ASSISTANT )
I am registered as a proprietary firm with ICAI. I want to hire a CA (Not holding COP) as paid assistant. My question is:
1. what is the procedure to be followed??
2. what form is to be filled to inform the Institute??
Thank you in advance.
BY: ronak chetan kapadia
Total Answers : 1 | View Answers | Post Answers
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| 40969 |
Feb, 12
2021
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DIRECT TAXES - ( SECTION 54F )
Hello Everyone!
Whether exemption under section 54F available for investing in rural agriculture land and constructing a residential property thereon (Farm House) out of sale proceeds received from sale of shares of unlisted company?
Please also provide reference of HC Judgements
BY: Manisha
Total Answers : 2 | View Answers | Post Answers
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| 40968 |
Feb, 11
2021
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DIRECT TAXES - ( 229489 )
DIRECT TAXES (TYPE OF REGISTRATION)
RESPECTED SIR, THE QUESTION IS 2 PERSONS ARE COLLECTING SCRAP/SECOND HAND GOODS FROM DOOR TO DOOR PEOPLES AS A DONATION IN KIND. THE SAME GOODS THEY ARE SELLING TO GENERAL PEOPLE BY MAKING THEM FIT FOR USE BY INCURRING EXPENDITURE ON IT. THE SALE PROCEEDS ARE USING FOR CHARITABLE ACTIVITIES. NOW THEY WANT TO GO WITH NGO REGISTRATION. SO WHICH ONE IS RCOMMENDED UNDER SUCH CIRCUMSTANCES. 1. TRUST CANT DO BUSINESS ACTIVITY AS PER CONDITIONS LAID DOWN FOR 12A REGISTRATION. 2. CAN WE INCORPORATE SEC 8 COMPANY TO UNDERTAKE ABOVE ACTIVITIES. IS THERE ANY RESTRICTIONS ON SEC 8 COMPANY WITH RESPECT TO BUSINESS ACTIVITIES? THANKS IN ADVANCE
BY: MOHAMMED QUSROO
Total Answers : 1 | View Answers | Post Answers
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| 40967 |
Feb, 09
2021
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GST - ( DRC-03 PAYMENT )
One of my client received a notice ASMT-10 for filing nil 3B return in FY 2018-19. We have declared sales in GSTR-9 and paid tax. Whether department will demand interest and penalty also for not disclosing sales.
BY: Shobhit Bansal
Total Answers : 2 | View Answers | Post Answers
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| 40966 |
Feb, 08
2021
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GST - ( GSTR9 AND GSTR9C )
ITC of 2017-18 was taken in GSTR3B of FY 2018-19. However the same was missed to be reported in GSTR9 and GSTR9C of 2017-18.
Query : So while preparing GSTR9 and GSTR9C of 2018-19 , should the ITC of 2017-18 taken in 2018-19 allowed or not ?
BY: samirkumar gokulbhai kasvala
Total Answers : 2 | View Answers | Post Answers
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| 40965 |
Feb, 07
2021
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DIRECT TAXES - ( RETURN FILLED WITH TAX PAYABLE ABOVE CRORE )
client has filled income tax return with tax payable due to financial crunch of his business. he has got his account audited u/s 44ab. i want to know what would be consequences of filling income tax return with tax payable. whether there is any provision for prosecution if liability is more than one crore.
BY: NADIR D SHAIKH
Total Answers : 2 | View Answers | Post Answers
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| 40959 |
Feb, 04
2021
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GST - ( GST AUDIT FY 2018-19 )
ITC of 2017-18 was taken in GSTR3B of FY 2018-19. However the same was missed to be reported in GSTR9 and GSTR9C of 2017-18.
Query : So while preparing GSTR9 and GSTR9C of 2018-19 , should the ITC of 2017-18 taken in 2018-19 allowed or not ?
BY: samirkumar gokulbhai kasvala
Total Answers : 0 | View Answers | Post Answers
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| 40960 |
Feb, 04
2021
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COUNCIL DECISION - ( SECOND OFFICE OF CA FIRM (SOLE PROPRIETOR) )
I'm a Practicing CA with Sole Firm in Telangana State.
I have an office in one of the Towns (Municipality).
Now I'm willing to open a second office in a small town which is 24 km away from my main office but it is in the state of Maharastra.
Do I need to have a separate CA as in charge or not as it is within 50Kms Radius? (Note: within 24kms but in a different town and Different State)
BY: DASARI PRANAYREDDY
Total Answers : 2 | View Answers | Post Answers
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| 40961 |
Feb, 04
2021
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CORPORATE & OTHER LAWS - ( CO-OP.BANK EXPOSURE LIMIT )
A Co-op. Bank's exposure limit to a single borrower is say Rs. 1.5 crs. It has already advanced Rs. 1.5 crs to a borrower on mortgage of immovable property of Rs. 5 crs.Again it want to advance Rs. 1.5 crs. to another borrower on the same morgaged property. Whether advance on the same mortgaged property to different borrowers becomes an advance to a single borrower?
BY: KOMAL APURV VORA
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| 40958 |
Feb, 03
2021
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DIRECT TAXES - ( TYPE OF REGISTRATION )
RESPECTED SIR,
THE QUESTION IS 2 PERSONS ARE COLLECTING SCRAP/SECOND HAND GOODS FROM DOOR TO DOOR PEOPLES AS A DONATION IN KIND. THE SAME GOODS THEY ARE SELLING TO GENERAL PEOPLE BY MAKING THEM FIT FOR USE BY INCURRING EXPENDITURE ON IT. THE SALE PROCEEDS ARE USING FOR CHARITABLE ACTIVITIES. NOW THEY WANT TO GO WITH NGO REGISTRATION.
SO WHICH ONE IS RCOMMENDED UNDER SUCH CIRCUMSTANCES.
1. TRUST CANT DO BUSINESS ACTIVITY AS PER CONDITIONS LAID DOWN FOR 12A REGISTRATION.
2. CAN WE INCORPORATE SEC 8 COMPANY TO UNDERTAKE ABOVE ACTIVITIES. IS THERE ANY RESTRICTIONS ON SEC 8 COMPANY WITH RESPECT TO BUSINESS ACTIVITIES?
THANKS IN ADVANCE
BY: MOHAMMED QUSROO
Total Answers : 0 | View Answers | Post Answers
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| 40957 |
Feb, 01
2021
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DIRECT TAXES - ( LATE FILING OF FORM 67 )
Rule 128 provides that Form 67 must be filed before due date u/s 139(1) in order to claim foreign tax credit in return of income. If return to be filed is a belated return and Form 67 has not been filed upto due date u/s 139(1), whether foreign tax credit claimed in return will be disallowed?
BY: vikas kalra
Total Answers : 1 | View Answers | Post Answers
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| 40954 |
Jan, 30
2021
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DIRECT TAXES - ( SECTION.43B(A)- ANY TAX, DUTY, CESS OR FEE ETC )
Sec.43B(a) allows any tax, duty, cess or fee by whatever name called under any law for time being in force on payment basis. A company is paying lease rent to TN Govt for land taken on lease from Govt. It has made provision for rent arrears as the matter is in litigation. Is this amount provided towards arrears rent will be covered in sec.43B(a) and allowed on only payment basis? If not in sec.43B(a), will it get disallowed under any other section? Pls clarify. Thanks.
BY: balasubramanian
Total Answers : 1 | View Answers | Post Answers
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| 40955 |
Jan, 30
2021
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DIRECT TAXES - ( SEC 115BAA )
1.A company with carry forward depreciation and business loss(normal business). Is it possible to opt sec 115BAA with carry forward business loss?
2.Also, above company having short term borrowings from directors and not in the situation to repay.
Is it possible to written off borrowings and adjust that income with carry forward business loss after opting Sec 115BAA? as MAT is not applicable.
BY: SHRIDHAR
Total Answers : 1 | View Answers | Post Answers
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| 40949 |
Jan, 21
2021
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DIRECT TAXES - ( INCOME TAX RETURN FOR FY 2018-2019 )
Can Income Tax Return be filed for FY 2018-2019 ( AY 2019-2020) .ITR 1 required to be filed and tax liability is zero as all taxes are deducted by Employer u/s 192? In the event no Tax Return can be filed is fees u/s 234f to be paid voluntarily or after receipt of Notice.?
BY: ANIRBAN BASU
Total Answers : 2 | View Answers | Post Answers
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| 40947 |
Jan, 19
2021
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DIRECT TAXES - ( 103762 )
Can we cancel form 10IC filed through oversight. We have yet not filed the return. Relevant section 115BAA is but we would like to otp for section 115BA.
BY: DARSHAK MAGANLAL THAKKAR
Total Answers : 1 | View Answers | Post Answers
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| 40946 |
Jan, 18
2021
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Companies Act, 2013 - ( CHANGE IN STATUS FROM INDIVIDUAL AUDITOR TO INDIVIDUAL AUDITOR'S FIRM (PAN IS SAME) )
The ADT-1 filed for the year is in the name of Individual auditor. However, later the Individual auditor registered his firm as a sole proprietorship. PAN of Auditor is the same. Only change in there is a firm registration number.
Should there be ADT-3 filed and new ADT-1 or can the matter be ratified in the Board Meeting and in the AGM.
To re-iterate, the signing auditor is the same. Only change is individual firm.
Alternatively, can the signing auditor sign as a individual and not as a firm.
BY: Lokesh Chajed
Total Answers : 0 | View Answers | Post Answers
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| 40944 |
Jan, 16
2021
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AUDIT - ( TAX AUDIT )
Can a multinational company involved in Tax Audit work put a condition that Tax Audit report can be used only by Income Tax Authorities and not by anybody else
BY: Mahesh Kumar
Total Answers : 2 | View Answers | Post Answers
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| 40943 |
Jan, 11
2021
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ANNOUNCEMENT - ( TENDER FOR IFCOFR )
Want to upload RFP for appointment of consultant for implementation of Internal Financial Control over Financial Reporting (IFCOFR) in UCO Bank under opportunity section in PDICAI website.
BY: PRAVEEN JAIN
Total Answers : 0 | View Answers | Post Answers
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| 40940 |
Jan, 08
2021
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GST - ( UPDATES )
how do i get updates from GST portal before 23.10.2020 from news and updates..
Link - https://www.gst.gov.in/newsandupdates
i can't find from cbic, journals, newsletters etc.
BY: shubham
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| 40942 |
Jan, 08
2021
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INDUSTRY WATCH - ( 1625832 )
how do i get all updates from icai on e-mail?
because icai publish new mcq material without intimating to students .
without informing to students icai change study material chapter or add new material on their bos knowledge portal how do i get updated about this type of matters so my study won't affect and not to be depend on private tutors?
any RSS feed or web monitor or email alert facility provided by icai to students or members?
BY: shubham
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