DHEERAJ KUMAR
13 September 2019 at 09:51

Tds on notice pay reimbursement

Sir

We are a public limited company
we are paying notice pay reimburement of Rs. 1 lac to our new joinee which he had to pay for joining early

Kindly confirm whether we have to deduct tds on that and rationale of that also

Regards


Raveesh

My Uncle who don't want to purchase another property after selling his share, want to know his actual Capital gain tax.

I am sharing all the necessary details :

Property Purchased in DELHI in 1952, by my Grandmother.
Sum paid was 19000.

After her passing away, through her will it was transferred on the name of My father and his elder brother (My uncle).

Now as per circle rate, its value is approximate 80 lakhs which will be divide equally.
So both brothers get 40 lakhs each.
Further my Uncle will Gift 15 lakhs (through cheque/DD) to my father, so the net amount he will possess from the sale will be 25 lakhs.

So
First he wants to know whether he will be Taxable on 40 lakhs or 25 lakhs
&
Second what exactly will be his Capital Gain tax ?

The important thing to note is what should be the Base year ie 1991 or 2001 & also the Base price in that year as the Circle rates in Delhi were brought in 2007.

So kindly advice me on this, it will be much helpful.


shobhit
12 September 2019 at 21:51

Rcm on Rent

Is RCM applicable if rent 5000/- per month of a shop or Commercial purpose


Ramesh
12 September 2019 at 17:21

If GST registration is required

Hi Experts,
Pl. have your opinion on below:
Mr. X from Delhi has joined a company based in Mumbai as a retainer (i.e. providing professional services to a company). His gross receipts during current year is expected to remain under INR 20 lacs. Pl. advise if he is required to take GST registration as he stays in hotel/company guest house in Mumbai.
Thanking you in anticipation.
Ramesh


TaxDoubter
12 September 2019 at 14:49

LTCG Tax & Tax Payment

I have sold few shares which has been with me for several years and providing the details below.

Profit: Rs.19,11,008/-
Exemption: Rs. 1,00,000/-
----------------------------------------
Actual Profit: Rs.18,11,008/-
Loss from
Previous Year:Rs. 40,156/-
--------------------------------------
Actual Profit: Rs. 17,70,852/-
10% Tax: Rs. 1,77,085/-
4% Cess: Rs. 7,083/-
Total Tax: Rs. 1,84,168/-

Is my above calculation correct? Please let me know.

Do I need to pay the complete Tax of Rs.1,84,168/- now itself or can I pay 45% i.e.Rs.82,876/- now and pay the rest later?

Experts please suggest.




Sandeep Jain
12 September 2019 at 14:39

Gross Profit in books of account

Dear Sir

We have business of Marbles & Tiles. Please advise to me how much Gross profit & Net profit we have to show in books of account. previous year GP was 8.07% and NP was 4.90%
Please advise for this year ?


Nanu Gupta
12 September 2019 at 14:28

Tax audit

An assessee has turnover less than 1 crore and has loss. Under which section audit is carried out? 44ad or 44ab? Pls guide


Samsad Siddiqui
12 September 2019 at 13:16

CST ACT

Dear Sir,

During the F.Y 2017-18(1st Qtr) we had made sales in Bihar charging @ 2% CST.The bill details are as below
A. V = Rs 10,000 + Rs 1236(Excise duty) + Rs 224 (CST ) + 4,000/- (Freight Cost)= Rs 15,460
While submitting Return we have show CST sales of Rs 11,460/ (Excluding Freight Cost) but party provide us "C" forms value of Rs 15,460.
My Question is
1) How can we show freight cost at the time of CST Assessment.
2) How we deal with fright cost.
3) What happen if we submit excess value of C Forms.

Requesting you to pls guide me in this regards ASAP.

Thanking You.


sreelakshmi
12 September 2019 at 13:00

Fixed assets

Does following constitutes Fixed Assets??
1. Bio Gas Plant
2. Borewell
3 Fencing
4 Labour Cottage Equipments
5 Slaughter House Equipments
6 Slaughter House Fencing
7 Work Shed


PARDEEP KAPIL
12 September 2019 at 12:47

Income tax calculation

Dear sirs : i need to know net profit and income tax calculation for a domestic company for financial year 2018-2019 (assessment year 2109-2020) . Details are as given here. Net Loss : Rs.3,60,124.00 including depreciation under companies act Rs.4,28,826.00 and :: Not excluding depreciation under Income Tax Act is Rs.1,74,240.00. Kindly advise. regards





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