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Kollipara Sundaraiah
06 July 2020 at 18:08

Jewellery hold limit

Any I.t. Assess(male and female) jewellery (gold and silver)hold limit present under I.t. act.


MOHIT TANK

Hi All,

Please provide Audit & Nomination and Remuneration Committee meeting Minutes in Word Format as per Companies Act,2013. Please help me .

Thanks


R Agarwal

Respected Members,

A partnership firm has two partners which owns some landed property. One of the two partners passed away.

Question :
1. Who becomes the owner of the landed property?

2. Does it become joint property of 1st deceased partner's family & 2nd partner and accordingly will these names be mutated in land records?

3. Does it become sole properietorship of 2nd partner i.e he becomes the sole owner of the property?

Contradictory views :

1. Local experts have given contradictory views.

2. I read the view of the Supreme court in a judgement of 2016? that the partnership automatically dissolves even if there is clause to the contrary (In this partnership also there was a clause that the partnership shall not dissolve on death of a partner).

I would be very thankful for your valued reply.


sanjay
06 July 2020 at 14:37

Perpetual Bonds Interest

Hello All Experts and CA's
I am Sanjay and want your advise.
I have invested in perpetual bonds in Sept 2019 for Rs.300000. The company give me interest for Rs.31500/- for the whole year in march 2020. My question is " what will be the amount of interest taxable in my hands"? Is it 31500/- or 15447/-...... Pl confirm .
What will the taxability if I sell the bonds after 2 years?
Pl advise.
Regards


udai singh shekhawat

Hi,
I have bought a property in August 2019. And started payment of Home loan from September 2019.
The property was under construction at that time. I have received the Completion certificate on 15th May 2020.
Interest paid from September 2019 to March 2020 = 2,84,000
Provisional Interest amount from April 2020 to March 2021 = 4,83,000

I would like to know:
1. Will I be able to get exemption for the Pre-construction amount paid from September 2019 to March 2020 while filing the Income tax for financial year 2019 - 2020?
If YES, is it beneficial to claim the whole amount at once as I found that it can be used for exemption in 5 separate installments?
2. Also, will I be able to claim the Stamp Duty/Registration charges in Income tax filed against financial year 2019 - 2020?

Please guide me.

Thanks


DIVYESH JAIN
06 July 2020 at 13:19

Gst paid on Advance received

Dear Sir,

I have received an Advance of Rs 1 lac from the party in December 2019 for which I issued him a bill and paid the GST. Now in July 2020 I have prepared the bill for the balance amount of 3 lacs and paying gst on it.

My query is that I have issued 1 bill in fy 19-20 and the other bill to the same party in fy 20-21. While taking this into accounts should I consider these bills separately in different financial years or take in one of the financial year. The final amount will be received by the party in July 2020.

Please help me in this matter.

Regards,
Divyesh Jain


Aparna
06 July 2020 at 13:02

Place of supply

The Person Register in India . he provide management tanning services to UK company online . he is not going abroad for given training he is given Training through online base like online seminars .

so My question is which is place of supply ??? . he is liable to pay Tax ???? if he has LUT ??? which Tax is Applicable CGST +SGST or IGST???

Also confirm as per which Section ???


Ajay
06 July 2020 at 12:31

Form15g for full pf withdrawal

Dear Sir,
Good Morning,
One of our staff left organisation on 14.03.2020 & she is working as an consultant in our organisation.
She has worked for 14yrs in our company. Now, she wants to withdraw Pf (Rs3 lakhs) & pension amt (Rs.1 Lakh).

She need to fill Form 15G. She is a tax payer & filed ITR for fy 2018-19 (Ay 2019-20). Please help me to fill SLNo.17 Estimated total income of the py (ie. Rs.3Lakhs (pf) + Rs.3.33Lakhs(yearly income)=total Rs.6.33Lakhs. (is it right)
Please let me know after submission of form15g for Rs.6.33Lakhs whether TDS will be deducted or not.
Thanking you,


S S KALVI
06 July 2020 at 11:38

Outstanding

In a years collection is 30 lacs more than sale
Closing stock in 10 lack less than opening stock
Customers total outstanding increase by 20 lacks how it possible


Ravindra Joshi
06 July 2020 at 11:13

DEBIT NOTE FOR PURCHASE RETURN

Dear Sir

We have purchase return of goods and through Debit Note with E-way Bill. We have reverse the Input credit with the earlier input credit and the party will issue Credit Note.

It is clear that we don't have to show debit note in GSTR-1 return but my query is whether the Debit Note No with the series to be shown in Document in our GSTR-1 return.

Thanks