XYZ(UK) is a parent company of PQR (India). XYZ has developed a software (Blue Box) which is cloud base software. XYZ will give this software to PQR without any charge. PQR will be selling this software in India to customers. PQR would also provide the hardware’s which will be procured from vendors within India and will be supplied to customers. Customer can subscribe the software and use it for pumps operations, maintenance, repairs. 1) Is PQR liable to pay GST on the software procured from XYZ on FOC basis since XYZ & PQR are related? 2) What is the rate of GST for this software?

THE ASSESSEE WAS HOLDING AGRICULTURE LAND SINCE LAST 8 YEAR AND DONE AGRICULTURE ACTIVITES ON IT.

DURING F.Y. 2017-18 THE AGRICULTURE LAND IS CONVERTED INTO NON AGRI LAND AND THERAFTER PARTITIONED IT INTO 125 PLOTS.
DURING THE F.Y. 2018-19 THE “A” HAS SOLD 42 PLOTS.
THE QUERY IS THAT WHEATHER
1) THE PROFIT EARNED ON SALE OF PLOTS TREATED AS BUSINESS INCOME
OR
2) TREATED UNDER THE HEAD OF THE CAPITAL GAIN EIGTHER SHORT TERM OR LONGTERM ?

Hello All,

Can anyone help me with taxability when a resident Indian individual invests in foreign shares, securities, fixed deposits.

For example Mr A has a bank account in USA. He has now purchased share of a foreign company (ABC Inc) for $ 1000. Exchange rate prevailing that time was 1$ = INR 65

Now after a period of time, Mr A sold shares of ABC Inc for $ 1050. Exchange rate is 1$ = INR 70

Question here is, while computing income from capital gains, gains of Mr A will be $ 50 ($ 1050 - $ 1000) * exchange rate on date of sale 70 = INR 3,500 (A)

OR

Will it be $ 1050 * 70 = INR 73,500 sale consideration
$ 1000 * 65 = INR 65,000 cost of acquisition
gain difference of above INR 8,500 (B)

Answer will be (A) or (B). Do let me know your views.

I want to make payment of PTEC of my client for the f y (2019-20), But as per OTPT scheme minimum 3 yrs payment can be made in advance, As this scheme is optional, I wnt to make PT payment only for one year, But couldn't find the link for the payment for one year on the site Mahagst.gov.in... Pls help

Thanks & Regards

as i have filed DIR_3 kyc for directors in september 2018, do i need to file it again before 30th june. 2019 for the same director.
and also there is a director who has been alotted din february 2019, does he also required to file dir-3 kyc with roc.

kindly clearify my doubt.

Dear Sir/Mam,

I want to file Income Tax Return for A.Y. 2019-20 of a woman assessee. The assesse's husband is expired prior to A.Y. 2018-19 but the wife has kept open the bank account of husband since the refund of prior years are pending to be issued by Income Tax.The Bank has deducted TDS for A.Y. 2019-20 in the wife's husband PAN and the TDS amount gets reflected in Form 26AS.

My query is whether I must file 2 different returns for A.Y. 2019-20 or I must club the Income and TDS amount of husband in the wife's Income Tax return while filing the return.

Please help.

Regards,
Divyesh Jain

WHAT IS THE PROVISION IN EQUITY SHARES SHORT TERM TRANSACTION IN INCOME TAX POINT OF VIEW.

LIABILITIES FOR AUDIT ON WHICH TRANSACTION, GROSS SALES OR DIFF OF SALES AND PURCHASE??

Dear Experts,
I have Filed Form 24Q for Q4 as per Old Format ( Part B) on 06.05.2019 itself. The Revised Form 24Q was introduced on 12.05.2019 by CBDT Notification No.36/2019 dated 12.05.2019. Due to Filing of 24Q under Old Format , I am not able to Generate Part B of Form 16 from traces . I am not able to resolve this issue. Kindly help me in generating Part B.


Regards

In april 19 a sale bill was entered in the name of A. Later on it was came to notice that bill was actually in the name of B and not A. Place of supply sale amount bill amount and gst amount everything is same.
How to rectify this error in the month of May GSTR1?

WE ARE GOVT. APPROVED CONTRACTOR FOR CONSTRUCTION WORK. WE WORKED WITH GOVERNMENT DEPARTMENT, IN WORKS CONTRACT WE PROVISION 12% GST ON OUR SALES BILL AND SOME WORK WE PASSED TO SUB CONTRACT AND ALSO THEY PROVISION ON US GST RATE ON 12%.

SO MY QUERY IS IF ON SUB CONTRACT THEY PROVISION 12% GST ON US.

THEN WHAT IS GST PROVISION ON LABOUR IF LABOUR PAYMENT WHO ARE GST REGISTERED.