Hello freindz....

I am earning salary of 8 lakh, besides i have also traded in stock market and having speculation loss of Rs. 4167 in intra day trading,
My question is which ITR should i have to file
IF itr-3 than , should i require to file P/ l and balansheet also,
if i opt in No Book in ITR 3 and im showing Net loss ( dispite having inocme from salary more than basic exemption limit), will i have to do tax audit.

my salry is 8 lakh
and Speculation loss( Intra day share trading ) 4167...

Thanks & Regards...

Sir,
In tally drawing accounts come under which account??

my one of the relative have income from e-stamp sales . around 80lakh sales of stamp and out of income is 120000/- only.(1.5% of sales)
only rs.120000/- show as net commission income or apply 44 ad and claim minimum profit rate (online Transaction i.e 6%)
if it consider commission income then it is income from other sources head of income OR PGBP head income?
plz guide me

I am filing a return for an assessee who has earned income from salaries from Saudi Arabia. As Saudi arabia is tax free country, he did not pay any tax on that amount there. For filing return, where should I put the salary income which he received from Saudi Arabia in ITR-2?

- Need some clarity Please.

Case Law Details
Case Name : In Re Gogte Infrastructure Development Corporation Ltd. (AAR Karnataka)
Appeal Number : Advance Ruling No. KAR ADRG 2/2018
Date of Judgement/Order : 21/03/2018
Related Assessment Year :
Courts : AAR Karnataka (12) Advance Rulings (306)


In Re Gogte Infrastructure Development Corporation Ltd. (AAR Karnataka)
The Hotel Accommodation & Restaurant services being provided by the Applicant, within the premises of the Hotel, to the employees & guests of SEZ units, can not be treated as supply of goods & services to SEZ units in Karnataka & hence the intra state supply and are taxable accordingly.

FULL TEXT OF AAR RULING IS AS FOLLOWS:

1. M/s Gogte Infrasturcture Development Corporation Limited, 2nd Floor, NASCO ISHANNYA, 27/1, Khanapur Road, Tilakwadi, Belgaum – 560 006, having GSTIN number 29AAACG9426F1ZI, have filed an application, on 25.11.2017, for advance ruling under Section 97 of CGST Act,2017, KGST Act, 2017 8s IGST Act, 2017 read with rule 104 of CGST Rules 2017 & KGST Rules 2017, in form of challan for Rs.5,000/- bearing CIN number UTIB17112900307729 dated 24.11.2017.

2. The Applicant is engaged in hotel business, having hotel “Fairfield Marriott” and provides hotel accommodation 8b restaurant services. They are providing services to the employees & guests of some of the units in SEZ, Belgavi, in addition to the regular customers. They are charging SGST & CGST at the applicable rates. The SEZ units contended that the services are being supplied / rendered to SEZ units only and hence rate of GST is NIL as per provisions of section 16(1) of IGST Act’2017. Therefore the applicant filed this instant application seeking advance ruling on the following issue :

“Whether the Hotel Accommodation & Restaurant services provided by them, within the premises of the Hotel, to the employees & guests of SEZ units, be treated as supply of goods & services to SEZ units in Karnataka or not ?”

PERSONAL HEARING:/PROCEEDINGS HELD ON 09.02.2018.

3. The Applicant submitted Specific authorization, issued by Sri. Prabhakar S Apte, Director., M/s Gogte Infrastructure Development Corporation Ltd.. authorizing Sri. R.L. Barve, Chartered Accountant to represent the applicant in and to produce accounts and documents connected with the proceedings before the authorities in respect of the instant application for Advance Ruling under CGST / SGST Act, 2017.

4. The authorised representative Sri. R.L. Barve, Chartered Accountant during the personal hearing proceedings stated / pleaded that the applicant is a public limited company; that they are into the hotel business providing hotel accommodation & restaurant services in Belgaum; that the hotel is situated outside the SEZ and also independent of SEZ; that the billing is done on SEZ company for employees of SEZ; that they have not entered into any contract with either SEZ or any unit in the SEZ; that they are not giving any concessional rate to the billings of SEZ at present; that SEZ units contended for concession; that SEZ units gave letter to the hotel to provide billing in their name whenever any of their guest / employee uses the services/ facilities and hence they filed the instant application.

FINDINGS & DISCUSSION:

5. We have considered the submissions made by the Applicant in their application for advance ruling as well as the submissions made by Sri R.L. Barve, Chartered Accountant during the personal hearing. We also considered the issue/transaction(s) involved on which advance ruling is sought by the applicant, relevant facts of the transaction(s) involved, the applicant’s understanding of rate of tax in respect of the transaction(s).

6. The Applicant, filed this application dated 25.11.2017 for advance ruling, seeking clarification as to “Whether the Hotel Accommodation & Restaurant services provided by them, within the premises of the Hotel, to the employees & guests of SEZ units, be treated as supply of goods & services to SEZ units in Karnataka or not ?”

7. Supply of goods or services or both to a Special Economic Zone developer or a Special Economic Zone unit are treated as ‘Zero Rated Supply’ in terms of Section 16(l)(b) of IGST Act’ 2017. Further Rule 46 of CGST Rules 2017 stipulates that the invoice shall carry an endorsement “Supply meant for export / Supply to SEZ unit or SEZ Developer for authorised operations on payment of Integrated Tax” or “Supply meant for Export / Supply to SEZ unit or SEZ Developer for authorised operations under Bond or Letter of Undertaking without payment of Integrated Tax” as the case may be.

8. Therefore on reading Section 16(l)(b) of IGST Act’ 2017 & Rule 46 of CGST Rules 2017 together it is clearly evident that the supplies of goods or services or both towards the authorised operations only shall be treated as Supplies to SEZ Developer / SEZ Unit.

9. The place of supply of the services by way of lodging accommodation by a hotel, shall be the location at which the immovable property (hotel) is located or intended to be located, as per Section 12 (3)(b) of the Integrated Goods and Services Tax Act, 2017. Also the place of supply of restaurant and catering services shall be the location where the services are actually performed, as per Section 12 (4) of the Integrated Goods and Services Tax Act, 2017. In the instant case, admittedly, the applicant is located outside the SEZ. Therefore the services rendered by the applicant are neither the part of authorised operations nor consumed inside the SEZ.

10. Since place of provision of services in case of Hotel has been prescribed under the Act location of the Hotel’ the rendition of services of restaurant, short term accommodation and Banqueting/conferencing cannot be said to have been ‘imported or procured’ into SEZ Unit/Developer. Hence, by no stretch of imagination and therefore, in the instant case, the supply is intra state supply.

11. In view of the foregoing, we pass the following.

RULING

The Hotel Accommodation & Restaurant services being provided by the Applicant, within the premises of the Hotel, to the employees & guests of SEZ units, can not be treated as supply of goods & services to SEZ units in Karnataka & hence the intra state supply and are taxable accordingly.

HUSBAND AND WIFE PURCHASED A SINGLE PROPERTY FOR Rs. 8100000/-. THRU' ONE SINGLE REGISTRY.
BOTH MADE PAYMENT OF Rs. 4050000/ EACH FROM THEIR RESPECTIVE ACCOUNTS
BOTH ARE INCOME TAX ASSESSEE
ARE THEY LIABLE TO DEDUCT TDS ON PAYMENT TO THE TRANSFEROR WHEN THE AMOUNT PAID BY EACH OF THEM IS LESS THAN Rs. 50/ LAKH

Hi I want to know can i file revised Return for A.Y. 12-13 & A.Y. 17-18 now, because I had received order demand from department. But there is no any tax payable due to wrong return filing department asked for demand from me.
So is it possible by filing revised return I can resolve the issue ?

A company incorporated in 2014.

they have business income in 2014-15 & 2015-16.

After 2016 March no business operations.

Company not filed any annual compliance forms with MCA

Now they received a notice from MCA on strike off

Now they have no assets or liabilities or business operation.

whether they can apply for FTE scheme for strike of company name from and wind up

Hello,

im salaried. i have intraday share trading loss. i dont wish to carryforward loss. i want to avoid bookkeeping and audit.

can i use presumptive scheme itr-4 and declare 6% profit ?

can salaried day traders opt itr-4?

In the month of May we take Rs 600000/- as input Tax wrongly ( purchase Motro car). In the June there is no Out put Tax. Then how we adjust the ITC for Rs 600000/- in GSTR 3B.
Please help us