Hello Sir,
I have a doubt regarding dividend filling in ITR. As per the dividend sheet shared by broker, dividend calculated for the FY is based on ex-date while if I check AIS, dividend amount is bit different (may be it considers the actual payment date of dividend) for eg: if ex-date is in march, payment date may be in April next financial year.

How should I consider the amount while filing ITR, should I take it as per ex-date or as per actual payment date.
Please suggest.

Best Regards 

We are two joint buyer in a construction linked one property flat valuing 52 lacs , Before June2024, 95% payment was made , the value of property is 52lac. The TDS 1 % is deposited from the PAN no of ist buyer only m now last payment of 5% is also made .
So should we co may last EMI TDS 1% also with Ist buyer PAN no Forms26QB or both buyer can deposite the TDS , In case of second buyer earlier no TDS was deducted . Also also Form16 B was also issued to builder as per the TDS deposited form ist Buyer .


Yes declared another joint buyer .
But not aware of share of individual. As system is asking for total consideration value .

One of my client is doing trading business in Arunachal Pradesh. The shop-license is in the name of local tribal and on the basis of a Power of Attorney, my client has started business, taken GST registration in his own name, opened bank a/c in the name of firm (with signature of my client on the basis of Power of Attorney). Whether income of said firm can be shown in my client's file ?

We have recently started operating a marketplace and would like to seek clarification on the tax implications based on the following scenarios:

Case Scenario 1:

In our marketplace model, we receive payments from international clients, and services are provided by Indian developers. We charge a flat 13% commission and a 5% payment gateway fee (Actual as per Paypal).

Please consider the following example:

Client Payment: 1000 USD (converted to INR, Rs. 82,550)
Service provided by: Indian developer
Platform Fee: 13% of Rs. 82,550 = Rs. 10,731.50
Payment Gateway Fee: 5% of Rs. 82,550 = Rs. 4,127.50 (GST included by the payment gateway provider for their service)
The payment breakup to the developer is as follows:

Client Payment Total: Rs. 82,550
Platform Fee: Rs. 10,731.50 + 18% GST (Rs. 1931.67) = Rs. 12663.17
Payment Gateway Fee: Rs. 4,127.50
Amount payable to the developer: Rs. 82,550 - Rs. 12663.17 - Rs. 4,127.50 = Rs. 65,759.33
Additionally, we need to deduct 1% TDS from the final amount payable to the developer:

TDS: 1% of Rs. 65,759.33 = Rs. 657.59
Net Amount payable to the developer after TDS: Rs. 65759.33 - Rs. 657.59 = Rs. 65101.74

Case Scenario 2:
For payments received in INR from domestic clients, the breakup will be as following. If the developer or service provider is under the GST slab, GST needs to be added or adjusted to the client payment, needs to be mentioned on the client invoice.

Client Payment: Rs. 50,000
Service provided by: Indian developer
Platform Fee: 13% of Rs. 50,000 = Rs. 6,500
Payment Gateway Fee: 5% of Rs. 50,000 = Rs. 2,500 (GST included by the payment gateway provider for their service)
The payment breakup to the developer is as follows:

Client Payment Total: Rs. 50,000
Platform Fee: Rs. 6,500 + 18% GST (Rs. 1,170) = Rs. 7,670
Payment Gateway Fee: Rs. 2,500
Amount payable to the developer: Rs. 50,000 - Rs. 7,670 - Rs. 2,500 = Rs. 39,830
Additionally, we need to deduct 1% TDS from the final amount payable to the developer:

TDS: 1% of Rs. 39830 = Rs. 398.3
Net Amount payable to the developer after TDS: Rs. 39,830 - Rs. 398.3 = Rs. 39,431.7

FIRC/FIRA Considerations:
In both scenarios mentioned above, we encounter issues with FIRC (Foreign Inward Remittance Certificate). Payment gateways or banks will not issue FIRC/FIRA in the name of the service provider; they will only issue it in our name. This means the service providers cannot claim the export of service, even if the invoice is generated in their name and in international currency.


Case Scenario 3:

Consider a different approach where all charges are borne by the client.

Client makes a deal of 1000 USD with the service provider.
We take a 13% commission and a payment gateway fee from the client's payment and bill them for it.
The remaining amount, after conversion, is deposited to the service provider (after deducting 1% TDS).
This approach ensures it is classified as an export of service, and GST is zero as we are charging the client (if international), not the service provider. FIRC in our name will still be acceptable since we will be doing the export of service.

To summarize:

Client Payment: 1000 USD (converted to INR)
Commission: 13% charged to the client
Payment Gateway Fee: Charged to the client
Amount Payable to Developer: (Converted Amount - 13% Commission - Payment Gateway Fee) - 1% TDS

We seek your clarification on the GST, TDS, and billing structure for these scenarios.

Queries:
1. Can I do case scenario 3 for my international clients.
2. Case scenarios 3 will be deemed as Export of service for our marketplace?
3. We have to register for GST even if threshold is below 20lacs, Correct?
4. 1% TDS is deducted on all payments we remit to our service providers irrespective of threshold amount, Correct?
5. We will have to raise 2 invoices, correct me if wrong:
a) One invoice service provider to client (display breakup of GST if service provider is registered for GST)
b) Second invoice on the commission we charge (either client or service provider)
c) Invoice numbering will be different for every transaction? Cause one transaction will have two invoice generated.
6. Paypal or payment gateway charges: How do we bill this? We have no extras in this scenario. But payment gateway guys will only bill us, not service provider.
7. FIRC/FIRA is given on our company name, so in GST we can follow case scenario 3 & will it be deemed export of service?

What is the best approach for us?

Your guidance on how to best structure these transactions for compliance would be greatly appreciated.

Hello All,

We are unable to download the LUT acknowledgement from the GST portal.

Can anyone tell us . how to get it.

Sir, One of my client trade in share market (F&O) last year with LOSS
Is it mandatory to show that LOSS in ITR? or file as last year ITR
if we show that LOSS our ITR figure goes very down
please suggest
Regards
Vikas

If our Sanstha is register under AOP as Pan and we are going to Register our sanstha as a trust is it possible to register our Religious Seva Sanstha as a Trust with a Pan register under AOP .... Please suggest ...

Sir,

My friends mother is expire on april 24 , now i want to know in his IT file she have 7lac cash in hand,and 8lac in bank.
can his son transfer 8 lac in his bank account and can utilised cash in hand.
What is rule please advise.
WHen to block bank account and pan card

Question 1. Is TDS applicable on amount received as compensation by a tenant on surrender of his tenancy rights?
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Ans> TDS not attracted but the income will taxable under the Head Income from other.

Question 2. Please clarify if the income is taxable what will be tds rate in case of super senior citizen and whether he can invest entire tax amount in some Government bonds tax saving bonds OR is there any threshold limit .
Suppose assume if Mr.A receives compensation of say Rs.20,00,000/- what will be his tds liability and how much he can invest in Govt.bonds.
Please advise.

For AY 2023-24 would a trust be able to get exemption under sec 11 if the Auditor has filed form 10BB report on 30th Oct 2023 and the client e-verified the same on 8th Nov 2023. If not please provide information as to get exemption thereon.
Thank you.