The assessee is a partnership firm engaged in construction activity. In has purchased land during the year 2006-07, and has started construction in 2012 and has done work to the extent of Rs. 50,00,000. Later on due to funds scarcity, it has entered into development agreement with other company for construction of flats in 2014. Construction was completed in the year 2018 and land owner has received his share of flats and started selling its share. How to treat the same in the books of land owner who is engaged in same business. Whether to calculate capital gains or business income. Kindly explain.

I run a manufacturing uniit of PVR Block/ My trucks are used in the unit for carrying cement and other materials required for the manufacturing of PVR Blocks. Whether I can claim ITC on vehicle parts purchased for my trucks ?

Sir
So long I was filing in ITR1, as I have no Shares, Mutual Funds, etc. Income only from Pension and Bank Interests But being 72 years in age I have also included my wife as a joint owner of my flat, although she does not earn anything. In the Deed of the flat and Municipality Tax Bill my wife's name is there as the second owner
1)But as per CBDT circular January 3 Notification, an individual taxpayer cannot file return either in ITR-1 or ITR4 if he is a joint-owner in house. Such taxpayers are to use different forms, which would be notified in due course.
As such from AY 2020-21 I cannot file in ITR1(Joint Owner) and as confirmed by newspapers
also
2)But the thing is as per media reports my wife has also to file IT Return irrespective of the amount
earned, although my wife's Gross Income from namesake bank accounts out of petty household savings is
not worth considering. A report has appeared in Times of India Bengali Version Kolkata
Edition dated 06/01/2020 corroborating point no(2). The article has also referred the name of 1)Taxman DGM ,Mr Nabin Wadhwa and of ASC Global in this regard
Please opine on Point(2) With thanks
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For submitting tender to apply for contract works , a tax clearance certificate is required by a government department. Can the experts kindly tell me how to get such details from the income tax website or assesssing officer.

My client is into transportation business under rcm. But he pays gst on rent income earned. The goods are transported to Central Railway and they pay him back the amount after deducting gst @ 5%

I want to know whether he can claim Input tax credit of Central Railway while paying gst of rent income earned.

Thanks

Somebody director in the company he has a own car but company pay car Maintenance expenses so as company norms correct or wrong kindly suggest to me
Thanking you,

Kindly guide me on whether yoga teaching receipts by an proprietor are liable for GST? And also what about the accomodation and food provided with it as the main objective is teaching yoga?

How to show in our Private ltd company balance sheet the loan funds availed by Mr. X who is a relative/friend of Company CEO(also the owner of company having 98% shareholding) where the entire Loan availed by Mr. X has been used to fund the business of the Company. The company also pays the EMIs of this Loan.

We have already fillup 24Q TDS return Q1,2019 & Q2,2019 for the Financial Year 2019-20 in prescribed time. But this Quarter (i.e 24Q3,2019) we have not deducted any TDS from our employee (because employee left his job.) Can We fillup NIL 24 Q TDS return or any other process.................

Dear Expert

Kindly advise how to treat related party Transaction in GST and we are having day to day sales & Purchase from our Sister Concern Company.

What are the step to be taken care for this transactions.