The recent TCS (Tax Collection at Source) provisions will be applicable on purchases (other than Coal (not used for trading & Form 27C) & Import of goods) exceeding Rs 50 lakh from any vendor wherein they will recover TCS from the buyers and buyers need to account for the same as TCS credit similar to TDS credit. Kindly enlighten on this.
Regards,
Jayanta Bandyopadhyay
Howrah
14/9/2020

Immovable property having Market Value Rs. 33,00,000 and Stamp Duty above Rs. 50000 is received as gift from relative (Father's Sister and Her Husband) , is it Taxable under Income tax?

According to section 88 of the Companies Act, every company needs to maintain a register of members. Failing to do so will attract penalty under subsection 5 of section 88.

For a private limited company, (where the transfers are not very frequent) is there any requirement to file the updated list with the ROC/MCA ?

If yes, then what is the time limit for filing this information with the ROC/MCA ?

Regards
Samik Dhar

Dear Experts,
Ours is a limited company.
Few clients paid advance in the years 2017/2018 but have not paid balance amount nor are responding to our calls to pay the balance amount and take the goods. No GST was paid for these advance receipts earlier.
So, we are converting these advance receipts to cancellation charges (indirect income).
How do we show it in accounting in GST?
Is GST to be paid for such amounts?
Please clarify.

What is procedure for incorporating a new company

Dear Experts,
If I joined a company in December 2019 and received the salary for the previous month on the 10th of the next month, for how many months can I claim TDS for A.Y.2020-2021. Can I claim TDS for 4 months because I receieved salary for 4 months or only for 3 months as the previous month's salary was received in the next month? Only tds for 3 months is being reflected in my form.
Thank you.

Can i file a income tax return for financial year 2017-2018

A gst new registration partnership firm.
1.how much amount stamp paper value for partnership deed.
2.rent agreement time period minimum 11 months accepted.

Sir I have deducted Tds on Salary Q 4 FY 19-20 but not paid and not file TDS return?

Tds amount is Rs.2000.00

What is the penalty and interest in this case?

Please reply

our client has applied for their export refunds of oct-18,nov-18 and dec-18 for which department has issued scn informing to allow itc only for itc getting seen in 2A quoting circular 135 on close reading of 135 , it is found that restrictions for refund is due to introduction of rule 36(4) , which itself is introduced for eligible ITC vide notification 43/2019 dt. 09/10/2019, so in our view restricting ITC only as per 2(A) if at all is correct , needs to be applied only for such return period after 9/10/2019 , for eligible ITC , as in case of any earlier period , as 36(4) restrictions were inapplicable ,3B itc are fully eligible for refund and allowing ITC only for amount as seen in 2A for such period seems is a faulty application of law 2.also circular 135 mentions "refund of accumulated ITC shall be restricted to the ITC as per those invoices, the details of which are uploaded by the supplier in FORM GSTR-1 and are reflected in the FORM GSTR-2A of the applicant." it does not specify for which period , so for such invoices if they may not be seen on those month's 2A but it is seen even in earlier or later months 2A , implying genuine credits , such ITC as seen in any 2A stands eligible for refund Expert friends , Kindly share your views and opinions
vipul d jhaveri
-FCA
mumbai
vdjmum@gmail.com