A Charitable Trust is Registered under Societies Act in delhi in 2000
It is permitted to use FCRA account also. The Trust has been regularly audited and filing IT returns and the returns as required by MHA for the FCRA account.
As it appears it has not filed the Annual returns with the Registrar of Societies .. (Annual Financial Statements)

Now the Trust wants to file the Annual Return with ROS.....Can it start filing the annual return on online......

Dear Sir,

Our Pvt Ltd Company Income for 31.3.2018 as following :

Dividend from Mutual Fund 1,10,04,059
Dividend from Shares 2,12,807
Capital Gains Income 2,61,258
Interest Income 37,469
Total Income : 1,15,15,593

My query is applicability of Tax Audit u/s 44AB.
The Investments made by the company are shown in Balance Sheet as Current or
Non-Current Investments and corresponding income from the investments is shown
as ‘Revenue from Operations’.

Investments shown in Balance Sheet as Current or Non-Current Investments
and corresponding income from the investments should be shown as ‘Other Income’
than Tax Audit is not applicable to Company.


Please advise in above matter

Thanks & Regards
NK

10(37) exemption available only if the certian conditions specified in the section are fulfilled out of them one of the condition is that: consideration / compensation for transfer of urban agriculture land is received by assessee.

What if it is received by a person other than assessee I,e legal heir then captial gain exemption is available or not

Dear sir/madam

I want to file cost audit 12-13 for Pharmaceutical company now so can u suggest me the format of cost audit report

can u confirm that can i go with cost audit rules 2011 for FY-2012-13

Please clarify sir.....

Thanks in advance

Sir / Madam,

We have procured Raw material from a supplier in July 2018 end. We tested the quality parameters and found not suitable to our production. Hence we returned the material in August 2018 along with a Debitnote for the entire bill amount.

The supplier has shown his sale bill in his GSTR1 return and reflect in our GSTR 2A.

As we are like to show the inward entry(purchase) in GSTR 3b and Outward entry (purchase return) in Debit note / credit note tab.

Now we have tried to enter the Debit note which we have made for rejection in the Debit note/ Credit note tab in GST site. It shows an error processed with error and we again tried to modify the entry, The site shows an error counter party of invoice or debit/.credit note are different. We assume that the return period of ours and our supplier is different. We enquired the supplier they replied they are not entered the return entry in their return till now i.e 10 Aug 2018.

Kindly suggest / advise what would be the correct procedure to tackle this issue?
What would be the consequence when we did not show both the entry in our return (for purchase and purchase return)?

Kindly advise us the correct way to solve this issue.

Thanks in advance,

with warm regards,
Bazeer L

Tax credit mismatched Sir I filled ITR1 for AY 2018-2019 on 26/06/2018 and processd on 20/07/2018 and I received intimation letter u/s 143(1) with less refund and it's showing tax credit mismatch.can I fill revised ITR after received refund/Rectification for 2018/2019 not available.

Hi,

My salary is INR 65000/- p.m. and what type of deductions , TDS and tax will be deduct out of my salary.

I am service recipient and receive a service of fuel delivery on my petrol pump from Service provider good transport agency.
As in this Case RCM is applicable and liability of tax payment is on service recipient.
But from gst applicability SR didn't mention RCM in his return.
How can now SR can discharge the tax liability?

Hi,
Let Say A is main Govt .contractor and he sub Contact B for that Govt Contract . Now in turn B Sub contract C only for Labour Work .

I know for A & B GST Rate is 12% but what rate applicable for C 12% or 18% its pure labour contract for C.

I have purchased a plot of land jointly with my wife. I propose to construct ten flats in this land and sell them separately. Can the experts tell me if we will have gst liability while selling the flats?