Dear all

Please arrange reference exchange tt buy/sell rate for debtor creditor recasting for fy 2019-2020.


thanks & regards
chandan pandey
9803628536

Composition Dealer providing Car Hire Services. Whether service recipient has to pay pay tax under Reverse Charge Mechanism (RCM)?

Sir,

We were under " Composition " scheme in the FY 2019 - 20 and
would like to continue the same in the current FY ( 2020 - 21 ) also.

Should we file CMP-02 ?
What should we do to continue as "Composition " dealer ?

Pls. advice.

Sir / Madam

For one of my client Tax department has raised demand of Rs. 15,00,000/- (CGST: 750000+ SGST : 750000) and uploaded DRC-07. My client paid the amount by way of DRC-03. But in the liability ledger the demand is still pending showing as balance. Kindly clarify whether the demand raised in DRC-07 may be paid in DRC-03, if correct how can we link the amount paid through DRC-03 against DRC-07.

Dear Sir
A demand of Rs 36050 / was raised under sec 143 1a on 23.05.2011(assessment year 2010-11) which I could not attend. I am also not able to get detailed form 16 from my employer(as Record is not available). I think this difference was due to tax paid by employer on Perquisites. However I paid Rs 36050/ on 31.03.2020.
Now again a fresh demand under sec 220(2) is raised for Rs 38217/ on 03.4.2020.
1. Can i get detail of calculation of fresh demand under sec 220(2)
2 whether i Have any remedy under Direct tax VIVAD SE Vishwas.

Dear Sir
My wife availed housing loan in her sole name and o/s is around Rs 35 Lacs. if I repay entire loan from my superannuation fund, will it be taxable to me or my wife.

1.composite scheme registered sales of goods turnover Rs.60 lacs and service turnover Rs.5 lacs
2. Composite scheme registered service turnover Rs.40 lacs and sales of goods turnover Rs.5 lacs.
Above two transactions composite dealer tax applicable rate 1 %or 6%.

Hi,

While we appreciate the Finance Ministry's move to extend the date for making various investment/payment for claiming deduction under Chapter-VIA-B of IT Act to 30 June 2020, however, would like to understand in which period will a tax payer be able to claim the deduction for annual recurring payments of such investment made this year post March 2020 (but before 30 June 2020).

E.g. A person purchases a life insurance on 25 May 2020, whose premiums shall be due on 25 May of every year. Such tax payer will be able to claim deduction for the insurance premium payment in FY 2019-20. However, how will he/ she be able to claim the deduction for FY 2020-21, since premium will be due and be paid on 25 May 2021 (FY 2021-22)?

BANK HAS DEDUCTED GST ON FEE PAID TO US, HOW IT CAN BE VERIFIED?

If shares split into two each in FY 2019-20 what will be the FMR for calculating LTCG as there was only one share on 31/01/2018.

ex. If HDFC shares split in FY 2019-20
I have 100 shares which were purchased in 2017. What will be the FMR od Shrars if i sell 50 of them in FY 2020-21?

thank you