Dear Sir,

Kindly confirm the rate of interest to be paid if I fail to pay Apr 20 TDS payment by 07th May 20 and for how many months it has to be paid.

Dear legal experts from CACLUB community

Facts:

A. We have joint family property with 1979 govt approved layout. The layout haS 2 areas earmarked as park areas and one area earmarked as open area. On the layout plan these areas are specifically marked as parks and open area respectively.

B.The purpose of the open area was to facilitate parking, loading and unloading required for the shopping complex ( also belonging to our joint family ) right next to it. This was the specific purpose for which the area was left open.

C. Recently half of the said shopping complex got half demolished due to road widening and the half demolished complex has been lying vacant awaiting repairs, The whole exercise got delayed due to corona lock down. The open space after so many decades for the first time has been lying quiet without being used.

Now suddenly out of the blue to our shocking surprise the Greater Hyderabad Municipal Corporation ( GHMC ) issued a tender to construct a compound wall around the said open space claiming that since it is a open area inside an approved layout it belongs to GHMC.

We have 4 decades of pahani copies showing ownership, a registered partition deed dated 2014 clearly stating the shares of the shopping complex and clearly mentioning that the said open area is jointly owned land which has been set aside for future development. We also have property tax receipts of the last 30 to 40 years, electricity receipts, notices given by GHMC for acquiring half of the shopping for demolition and the compensation cheques.

Note: No notice has been served by GHMC prior to issuing the said tender.

Keeping the above facts in mind please help with your respected expert opinions on the below queries:

1. What is he actual legal position on open areas in a govt approved layout ?

2. Based on the above facts mentioned does the govt any case against us and is there any justice in trying acquire our long held land ?

3. How should we build our case when going for a stay in honourable high court ? What should be our main ground for seeking stay ?

4. Are there any relevant case laws from supreme court or high court which can come to our rescue ?

Thank you and regards.

i have a ppf account since 15 years -- in september 2016 i went to USA for a job and am in USA since that time -- my PPF account has matured on 1.4.2020 -- pls guide can i continue with the PPF account or do i have to close it. if i close it what is the interest rate that i will receive on maturity -- on yearly basis i have beome an NRI . pls guide THANKS

Sir,
One of new i.t. assess source of service income from sand and bricks etc rs.4,00,000/- net profit rs.3,15,000/-. in F.y. 2019-2020.
I.t. return filing for the purpose of bank loan.
Question:
Person capital and cash on hand opening balance introduced minimum and maximum amount as on 01-04-2019 balance sheet in i.t.returns as per i.t.act.

Can ITC unclaimed in F.Y 2018-19 be claimed in F.Y 2019-20 (march) / F.Y 2020-21 in GSTR- 3B?

DEAR SIR,

MY FRIEND RUNS A PARTNERSHIP FIRM THE PARTNERS ARE IS HIS MOTHER, AND BROTHER. SO HIS FATHER IS NOT A PARTNER OF THE FIRM HE IS SENIOR CITIZEN. FOR THE PURPOSE OF FIRM SOME MONEY IS URGENTLY NEEDED. SO HIS FATHER GIVEN RS 100000/- CHEQUE IN THE NAME OF THE FIRM.

MY DOUBT IS HIS FATHER IS NOT A IT PAYER AND HE RETIRED FROM BUSINESS SO MANY YEARS AGO. SOME LIC AMOUNTS MATURED IN THE NAME HIS FATHER THE AMOUNT TRANSFERRED TO FIRM ACCOUNT FOR SOME HELP. SO HOW TO TREAT THIS AMOUNT WHETHER TO ACCOUNT AS A UNSECURED LOAN OR IF GIFT PARTNERSHIP FIRM NOT A RELATIVE U/S 56(2).

PLEASE GUIDE ME

REGARDS

I urgently need the format of reconstution partnership deed in case of death of a partner. Adding a partner legal hier of dead partner. Could you please help me out. Plz. send to my mail id dpsingh2166@gmail.com

Is DPT3 return to be filed every year? if yes what is the due date for filing DPT3 for FY 2019-20?

Dear Expert, please resolve my query:

Invoice value at the time of import from China was $5 per unit mentioned in invoice
Goods were cleared from the customs on the basis of this invoice and custom duty/gst was paid.
Later on the import invoice was revised and supplier provides discount of $2 per unit.

Query 1: Whether we can issue debit note to the China party?
Query 2: Whether the debit note will pass through any custom duty?
Query 3: Whether GST have to be charged on this debit note?

Dear Experts, please provide a solution to my query.

A firm has imported goods from China and paid Custom Duty and GST at the time of clearance.

The bill send by the supplier was $5.00 per unit(Value = $5*Rs.75/$ = Rs 375 per unit)
But at the time of clearance , customs takes the assessable value at Rs. 500 per unit and then charges custom duty and 18% gst. So we paid IGST=500*18% = Rs. 90 (IGST input)

We sold the goods to our customers at Rs. 200 per unit @18% GST (IGST output) = Rs. 36. The rate of tax at the time of import & sale is same @18%

Due to the difference of assessable value under GST & customs, we are having extra input of Rs. (500-200)*18%=IGST Rs. 54.00.

We have sold 1 Lacs unit during the FY 2019-20, outstanding extra credit of IGST = Rs. 54 Lacs.

Query 1 : Whether there is any method by which refund of extra igst paid at the year end can be claimed as refund?

Query 2: Suppose we close down the trading of this product and continue with trading of other remaining products under the same gst registration.
Whether the accumulated IGST input of Rs. 54 Lacs can be used against liability of the other products sold?