I'm a trader and I have to transfer big amount from my broking account to savings account and now with increasing earning the amount is getting bigger.

So I have "10 lacs" fund and I need it that full amount for 2 days only so transfer it from my savings account to my broking account and other 5 days of week I don't need it so want to transfer back to savings account to earn intrest on that sum.


So basically I have to move it from my "one income source" to "second income source" Evey week.

10 lac ×52 week = 5.20 crores transection would be yearly in my accounts.


So "what should I do to avoid income tax department notice or any doubts on me?"

As I'm doing it only in my account (or sometime my family members account) and it's my only income source.

Should I clarify them in advance and how?

Or what should I change to look it 100% legit

Or it is okay and legally correct what I'm doing?

Capital account of proprietorship firm and Partnership firm can be in negative.

Query : (i) Issue of debit note without issue of Original invoice / bill (ii) Non Issue of Receipt Voucher for payment (iii) Whether it attract Anti profiteering by LG Electronics India Pvt Ltd?
I have a small query on subject matter above.

Details : I purchased the LG refrigerator (420 ltrs)costing Rs.43200/- from local dealer M/s Safezone Electronics, Gandhinagar on 2.2.2019. It failed 3 times after warranty period soon. Since LG was not listening to complaint of local dealer, I intervened and chased the issue directly with LG Electronics India pvt Ltd to end the sufferings of my 14-member family. LG didn’t hear me also but I continued my efforts upto CEO and finally made them agree for replacement which took place on 8.7.21 after my NEFT payment of Rs. 9631.50 on 25.06.21 towards difference in cost of old fridge (depreciated value of Rs.34560/-) and cost of new fridge Rs.44192/-.

I asked 4 documents viz, invoice/ bill, money receipt, receipt of returned defective fridge & proper warranty card from (i) LG Electronics India Pvt Ltd

LG didn't give me invoice/bill or money receipt etc and instead LG forcefully gave me (i) Debit Note No. : DNAHMATK2100019 : dated 26.6.21without supply order no, customer PO no., original invoice no., original invoice date ; (ii) packing list page & (iii) defective Delivery Challan ( Not For Sale ) dated. 8.7.21 mentioning total price of Rs.18070.90 and leaving total price of new fridge as blank.
I think LG have to issue Original invoice/bill for Rs.44192/- and receipt voucher for (advance) payment of Rs.9631.50 which is mandatory as per GST Act,2017 (Section 31 to 34). Am I correct in my demand of those 4 documents?
OR
Is action of LG to issue Debit note without issue of Original invoice valid & lawful and whether said Debit note can take place of Original Invoice/bill? Whether LG is bound to issue a receipt voucher for Rs.9631.50?

When I am struggling with LG since last 8 months to get 4 lawful documents and LG is not ready to issue invoice or money receipt (receipt voucher) etc as per GST Act (section 31 to 34) and in violation of Consumer Protection (General) Rules 2020 ( effective from 20.7.20) following unfair trade practice in terms of section 2(47)(vii) of Consumer Protection Act,2019 , whether it will attract and tantamount to anti profiteering or violation of GST Act,2017 & CP Act,2019 ?

I also attach a copy of debit note & delivery challan for kind perusal.

Yours sincerely,

D. B. Vaghela,

Retired DGM (Finance) BSNL & Ex Assistant Director General, DOT HQ, New Delhi

Residence: Plot No. 29 / 2, Sector- 4 - A, 'G' Road, Gandhinagar -382006.

Residential landline No: 079 - 23241441, Mobile No. 7984087184 & 9426631300

One of our Client received notice from CGST Authorities regarding refund claimed on exports without payment of IGSt for the period 2018-19 called Annexure B alongwith original invoices. The original invoices already submitted and verified by the proper officer and sanctioned the eligible refund. Now the CGST authority again called the Original Invoices. Please let me know how reply for this Notice.
Please clarify
S. Ravichandran

Sir,
One of the it assessee rs:6 lacs hospital bill payment for treatment purpose.
Question:
Assessess treatment expenses show procedure in books and it returns.

Can I Claim ITC in GST if I purchased Tractor of white board ? and what would be the scenario if it is yellow board ?

My question in regard of Refund of Un-Utilized Input tax credit in case of inverted tax structure are:
1) What is the time limit of filing refund application ?
2) Is Refund of ITC on Supply of Services can claim ?
3) Is Refund of ITC on Capital goods can claim ?

Please advice with respect of Rule.

Thanks in advance

Sir,
Our company owes Goods vehicle for transporting Finished products. Can we claim ITC on Insurance & maintenance bills of such vehicle ?

Plz clarify

In 26 QB paid/ Credited amount , i have put only paid to party without TDS. I Have paid in Instalment , whether i Have to Revise TDS Return or Left It.
Please reply. I deposited TDS amount Accurate , But Paid Amount shown in 26 QB 99% , Will be any problem. If I not correct It.

Sir/Madam
I have availed Housing loan from SBI. I know that I could claim deducted yearly interest as well principal amount at the time of Income tax return. But, other charges like Documentation charges, Legal fee, Valuation fee, Insurance fee, stamps charges and other miscellaneous expenses which were deducted/paid towards this housing loan will be whether eligible to claim Income tax deduction along with the accrued housing loan interest at the time of filing income tax return.

Kindly advise me, Sir. Awaiting your valuable reply.

Thanking you.

Raman Kumaran