Hi
We incorporated a company in 2017 with an authorised capital of INR 5 Crores divided into a total of 50,000 shares of Rs 1000 each among 5 subscribers to the memorandum. Without good advice we proceeded by paying a huge fee as stamp duty. The subscribers have fully taken the shares ie 10,000 share per subscriber. We are not planning to bring in 5 crores as it is a new company. So far we have raised 1.75 crores as capital.
My question is, is it okay to treat the 1.75 crores as paid up and the rest as simply subscribed and not called. Will this scenario act against our favour when it comes to ROC filing.

Thanks

Hello all,
Please guide.
A Brick Kiln (manufacturer of bricks) owner uses bricks for his own Brick Kiln reformation.
now the question is whether he is liable to pay GST on such amount of bricks.
OR
What other transactions may applicable from GST point of view

i wanted to know regarding ITC... last financial year some B2b bills are not apearing on the portal, when i contacted my supplier they are saying they cannot ammend the data? i gave my GST no to the suppliers but some have uploaded and some have uploaded only few.. what is the best solution to deal with this???

HI,
WHAT IS THE DIFFERENCE BETWEEN PROFESSIONAL TAX AND PROFESSIONAL TAX PAYABLE
AND WHAT IS THE JOURNAL ENTRY FOR THE SAME.

Greetings for the Day..

Can I please be enlightened about the implications under GST as well as the procedures to be followed for sending an item of machinery form a job worker in Telangana to the Plant located in Odisha. The materials for the erection of the said machinery have been purchased form local markets in hyderabad

In other words, whether GST is payable on such transfer and what are the documents on the basis of which the said item can be sent by road

Thanks in Advance.

Hi, I'm an individual software developer working for overseas clients. My annual receipts this financial year(2018-19) may be around 60 lakhs, but definitely above 50 lakhs. Thus I can't use 44ADA, which I have been using since last 2 years. My expenses related to profession are not more than 3-4 lakhs a year.

My question is, can I incorporate a small company, and use 44AD. The business is software development and I work independently(not under any company). I can hire an employee and deduct TDS if need be to strengthen the case for 44AD.

Is this possible? Can software work come under business rather than a profession.

Thanks.

Hi everyone. I do job work. Please tell me is gst applicable in job work done by me? And what is its impact under income tax act. Please reply as early as possible. Thanks in advance.

Dear Expert,
Mistakenly we have uploaded the invoice in GRST-1 wherein the mistake was in grand total of invoice however the taxable value & tax is correct. Pls clarify how to rectify this miskate should I issue debit note.

Thanks
Ankur

If an assesse having business income (Less than Rs. 100 lacs in the preceding F.Y) opted for Section 44AD taxation scheme pays salary to his employee, whether TDS liable to be deducted u/s 192, when employee's total income exceeds "the maximum amount not chargeable to tax" ?
Thanks in anticipation.

Dear Experts

Please guide.

I want to start a proprietorship business ( a trading/distributorship type) in Delhi.
I will buy loose goods, will be packing( at home) and distributing the same in my own brand.

I believe registration of proprietorship is not required in any law.
GST ( as the transactions will be intra-state and be of less than 20 Lac turnover initially), registration is also not required.
If I am correct in above two points what documents should I show to bank to open a current account for proprietorship business ?

If I am not correct, please guide. Also please help to understand the other compliance in this regard.

Regards
Puran Dangwal