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harshit gupta
05 October 2019 at 14:35

Sales

What is the difference between ledger and register sales ledger and sales register.


Nitesh kumar
05 October 2019 at 14:23

Notice under section 142(1)

One of my friend is doing business of fruits saller ,His business is of unique nature, he is a fruits seller, use to get fruits from Farmers and sale it in market.
Collect the sale consideration in cash and deposit it in his own bank and after keeping his own commission send sale consideration to Farmers through NEFT.
His commission is 9 lakh but has to make some expenses out of his commission like truck fair etc.
Cash deposit in his bank is about 1 crore and 36 lakh.
His actual profit after making all expenses from his commission is about 3 lakh.
Know if he treats his business as commission agent then he have to pay tax on 4 lakh 50thousand but in actual his income is less.

What is the best way to treat this case as per income tax point of view.


Tejas
05 October 2019 at 12:52

Income tax rebate for third house

Sir I have already availed income tax facility for one flat and one row house . I want to sell my old row house for 30 lakh , which I was purchased 15 years ago for 8 lakh . With this capital of 30 lakh and another home loan of 30 lakh from bank/financial institute , I wish to purchase a new bunglow for 60 lakh rupees , please tell that whether I,m eligible for income tax rebate and yearly interest paid upto 2 lakh and if yes then please mention under which section?


AMIT GOYAL
05 October 2019 at 12:39

INPUT ON EMBROIDERY/CLOTHES -JOB WORK

DEAR SIR/MADAM
PURCHASE INPUT AVAILABLE ON EMBROIDERY/CLOTHES -JOB WORK OR NOT IF G.S.T OUTPUT TAX ON EMBROIDERY JOB WORK IS 5%

PLEASE REPLY THE SAME.
I SHALL BE VERY THANKFUL TO YOU FOR THE SAME.



K.Devan
05 October 2019 at 12:01

BANQUET BILLING

SIR
OUR HOTEL IS IN 12% SLAB ie BELOW 7500.
BANQUET FOOD BILLING GST 5% WITHOUT INPUT
HALL CHARGES ALSO 5%
IS THIS COREECT
KINDLY ADVICE


Shikha gupta
05 October 2019 at 11:25

List on which Input cannot be claimed

Hi
Is there any list of goods & services on which GST input cannot be claimed?

Also i have a query:
Whether GST paid on electrical fittings, such as Cables, Switches, NCB, and other electrical consumables meant for repair of existing electrical fittings shall be available for ITC?


avrandco
05 October 2019 at 10:40

Notice u/s 142(1)

Whether notice u/s 142(1) can be given without issuing notice u/s 143(2) of the Income tax Act and return was already submitted.


Hari Nair
05 October 2019 at 10:27

194 M

A non business person making payments to a resident contractor for the construction of his house.
From April 2019 onward his total payments amount to 60 Lakh and after 1st September only 20 Lakh.

194 M applicable to entire amount ?

194 M applicable from 1-9-2019. Whether we need to consider payments from April 1 onward ?


vani
05 October 2019 at 01:36

EPF withdrawal before 5 years -queries

When EPF is withdrawn before 5 years, from the past Q&A I've gathered that the Employer contribution and its accumulated interest should be shown under the head salary. Specifically under "Profits in lieu of salary as per section 17(3)" Is this correct?
member contribution where 80C benefit was not claimed in the previous years is not shown in the ITR ?
Show revised income tax for previous years in form 10E and claim relief under section 89(1). Is this correct?
Please advice. Thanks


vani
05 October 2019 at 01:11

Withdrawal of EPF before 5 years


For withdrawal of EPF before 5 years should one use ITR1 or ITR2. WeI used ITR1 and showed the taxable portion under Income from other source and it was returned as defective. Now I find in ITR2 Schedule OS having "Accumulated balance of recognized provident fund taxable u/s 111" added to Income chargeable at special rates. Should we add the taxable portion of EPF here in Schedule OS. Kindly advice. Thanks







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