How can we provide HSN/SAC summary in GSTR 9, when we purchased a lot of goods & services from such entity who have their annual turnover below Rs.1.5 Crore and therefore they are not bound to mention HSN/SAC on their Outward Supply Bill according to GST Council's Notification No.12/2017 Dt- 28th June 2017

My friend is selling his residential property in village for Rs 20 Lacs and intends to purchase a house in urban area Rs 18 Lacs on NOTARY. The seller is asking the money in CASH only. My questions are :
(1) Would he be able to claim exemption U/s 54F (As it is a notary and not a registry)
(2) what would be the implications to him as he is withdrawing cash from his bank account and paying in cash.

Kindly suggest urgently as he wants to close the deal early.

Thanks & Regards

Dear Sir,

My dad who was a Chartered Accountant in practice used to follow cash system of accounting while filing income tax return of his firm till 31.03.2018 and was not showing any Debtors in Balance sheet.

Now due to his sudden demise in April, 2019, we have started recovering amount from the Debtors as the firm will get dissolved in the current financial year. The amount is getting credited in Firm's bank account as we have kept the account in operation for receiving the outstanding amount.

My query is while filing income tax return for y.e. 31.03.2019 should we show the debtors amount now in Balance sheet and change the Accounting system to Mercantile while filing the return.

I am stuck in a very unwanted situation and worried about filing the firm's return since no Debtors were shown till 2018.

Please advise me on how should I go about filing the returns for F.Y. 2018-19.

Regards,
Divyesh Jain

Case LD along with gst deducted from supplier in aug 2018. as of now the same deducted amount to be refunded amount is approx 3 lacs before tax. We are public sector and refund to be made to pvt owner. In the said cases whether gst tds applicable can any body tell this

Hello
Our client had opted for presumptive taxation in last 2 years I.e As yr 2017-18 and 18-19 u/s 44ADA (ARCHITECT). Now if we want to opt out in this year I.e. As.yr 19-20, is it allowed and if yes then do we have go for compulsory Audit us. 44AB . Turnover is around 25 lacs.
Thanks

Where should i show intraday profit in itr 3 and how?

A person is holding unlisted shares purchased 30-40 years back of the companies which are now defunct/non existent. Hence PAN of the companies are not known. Please advise whether these shares needs to be reflected in ITR 2 ? If so, Is it OK to keep PAN Column BLANK or written NOT KNOWN.

Mr.A and Mr.B are joint holders of the property where in Mr.A is a Resident Indian and Mr.B is Non Resident as per Income Tax Act
Property is Purchased by Mr.X for Rs.70 Lakhs out of this Rs.42 Lakhs is to be paid to Mr.A and Rs.28 Lakhs is to be paid to Mr.B Non Resident.

Kindly guide me on deduction of TDS on the above transaction, let me know the rates of TDS and amount to be deducted
and
to my knowledge TDS on Resident is 1%
help me for Non resident TDS whether @ 20.8% or 22.88%

and how to do the TDS Compliances
for Resident have to file form 26QB
and for Non resident - TDS Return

or Both Under Qtrly TDS Return

DEAR SIR,

I HAVE TAKEN WRONG INPUT TAX CREDIT IN THE MONTH MARCH 2019. ACTUALLY THE BILL HAS GIVEN TO OTHER PARTY MY CLIENT HAS RECEIVED THE BILL MISTAKENLY. I HAVE CLAIMED ITC IN THE MONTH OF MARCH 2019. SO I CAN REVERSE THE ITC WRONGLY TAKEN IN THE MONTH OF 3B RETRUN OF MAY 2019. BECAUSE ITC CAN BE UTILIZE UP TO THE MONTH OF SEP 2019 OR BEFORE ANNUAL RETURN FILING.

REGARDS

I.t.assess

One date gift from father rs.170000 by cash
Another date gift from brother rs.150000 by cash.
Another date gift from father rs. 6 lacs by bank check

All gifts acceptable for one finicial year.