I understand that pensioners are eligible to claim std deduction of Rs 40K for Ay 2019-20 if pension is paid by employers as it will be treated as salary. I am a pensioner drawing pension under EPS scheme and also receiving super annuation annuity from LIC under the policy taken by my past employer. Am I eligible to claim standard deduction as pension is not directly given by the employer? If I am eligible, should I report both the income in IT returns under the head SALARY since all along I have been showing it under the head OTHER INCOME?

Dear all,

A NRI client of mine has taken a rupee mortgage loan in India which has been credited to his NRO Account. He wants to transfer the amount to his US account, please let me know if form 15cb has to be filed and the purpose code to be utilised.

Thanks

Dear Sir,
i am a proprietor in my concen. i am using tally soft i have purchased a new land. I have Issued a DD of rs 21000 through my bank account in the name of sub-registerer,Madurai for the land purpose. How can i Make the journal entry for DD?

I am a LIC agent, and i receive LIC commission approx 50,000/- p.a. I am a Proprietor of a a Regular Taxpayer firm.
So, how do I enter LIC commission in GST? LIC is not collecting GST. Please reply as soon as possible.

our clearing forwarding agent charge bill for domestic transport & we reimburse it.
Transport bill is in our name.

Can above situation , we are liable to pay GST on RCM basis on transport charges

please guide us

As per sec 43(1) of Income Tax Act, if I purchase a asset of 12,000 the same shall not be added to the cost of capital asset (My interpretation: it will not form part of the block) and thus in effect depreciation will not be charged on it.
My interpretation is depreciation on it can be still claimed under Companies Act, and thus it will affect my deferred Taxes. Is my interpretation correct or there is a flaw in it?

Hi,
As in circular GST, council clarifies TCS is applicable before GST.
Can anyone tell me, Where to show TCS in eway bill?

Dear Experts, My client had dealing in real estate i.e., purchase land and converted it into number of residential sites (Not Buildings or Plots) and sold it to others. As per GST Act Exemption is upto 20 Lakhs. But my client crossed the said limit. Whether he take registration, If yes please guide me the GST Tax Rate for the same or it is exempted from GST Tax. Thanks in advance.

Dear Experts, My client had dealing in real estate i.e., purchase land and converted it into number of residential sites (Not Building or Plots) and sold it to others. As per GST Act Exemption is upto 20 Lakhs. But my client crossed the said limit. Whether he take registration, If yes please guide me the GST Tax Rate for the same or it is exempted from GST Tax. Thanks in advance.

Fortuner Car purchase by a food grain trader of Rs. 2950000.00 on GST is 28% of rs. 826000.00 (approx.) please suggest Gst benifit avilable or not ?