FOR ANNUAL RETURN FY 2020-21
QUES 1- TOTAL INPUT CREDIT AVAIL IN COLUM 6A OF GSTR 9 FY 20-21 AMT 100000/- ( FOR FY 20-21 AMT 80000 FY 19-20 AMT 20000)
A - WHICH AMOUNT SHOULD BE IN COLUM 6B - 80,000/- OR 1,00,000/- ?
B - IF 80,000/- WHERE WE SHOW 20,000/- ?
C - IF 100000/- WHERE WE SHOW 20,000/- IN COLUM 8

QUES 2- TOTAL INPUT CREDIT AVAIL IN COLUM 8B AMT 100000/-
RECO OF 1 LAKS-------
CURRENT YEAR ITC 70000/- IN WHICH COLUM SHOWN 6 & 8
PREVIOUS YEAR ITC 20000/- IN WHICH COLUM SHOWN 6 & 8
EXCESS CR TAKEN 10000/- IN WHICH COLUM SHOWN 6 & 8 ( WE HAVE BILL OF PURCHASE BUT PARTY NOT FILE HIS RETURN GSTR 1 )
ITC OF C.YEAR BUT AVAIL NEXT YEAR 10000/- IN WHICH COLUM SHOW

SIR,
IN CASE OF OUR CLIENT, HE IS TRADING IN DERIVATIVES . SALES -1900000 PURCHASE - 1800000 PROFIT MADE-100000 . TOTAL OF FAVOURABLE ANF UNFAVOURABLE DIFFERENCE IS 130000. HOWSHOW DETAILS IN ITR? AS PER ICAI GUIDANCE TURNOVER IS THE TOTAL OF FAVOURABLE AND UNFAVOURABLE DIFFERENCE . BUT THIS CALCULATION IS APPLICABLE ONLY IN CASE OF DETERMINING TURNOVER FOR THE PURPOSE OF APPLICABLITY OF TAX AUDIT LIMIT. HOW FILL ITR? SALE - 1900000 TO BE SHOWN IN SALES AND PURCHASE -1800000 AGIANST PURCHASE COLUMN IN ITR. OR 130000 TO BE SHOWN AS SALES AND PURCHASE COLUMN NIL. PLEASE CLARIFY?

Hi,
I am practicing IT consultant , but during CORONA LOCKDOWN (FY 2020-21) my revenue was zero, but I was Working from home for consulting bids as well parallelly working on some investment, which will generate revenue in subsequent years, Hence incurring expenses , which i would like to carry forward in subsequent years

How do i show those expenses on ITR under profession with "No Book of accounts"

BTW, Little speculative income have generated from intraday and short term share trading, but believe that will go under speculative and STCG respectively???

Please help

Kindly help

Respected Experts,

Some confusion to take ITC on below conditions :-
1) Custom duty included IGST will be paid on 30-12-2021 and goods will come on 1st or 2nd Jan.
So in which month we have to take ITC. I think it will be Jan as we will receive goods in Jan.

2) Party issued Tax Invoice on 31-12-2021 and material will be recd. on 1st or 2nd Jan.
Since ITC will be reflected in 2B for the m/o Dec-21. But we have to take ITC in Jan

Can department send notice in above situations as we will take excess ITC w.r.t. 2B in both the months. Should we prepare reco. for the above cases.

Kindly advise,

Rakesh Sharma

Sir/Madam,

If we have income from salary & mutual fund , which ITR have to file.

Thanks.

Dear Expert,

We want to know about Withholding Tax Refund from Indian Income Tax Department.

For example:
Our Income Tax Liability is Rs.50/- in a Financial Year, Our Withholding Tax is deducted Rs.70/- (from DTAA country). Can we get Rs.20/- from Income Tax Department?

And what will happen to this Rs.20/- ???

A person who is dealing business contract and his turnover 500000 from from contract and he is registered in GST for contract work and pay GST.
he is also doing Tailoring business and his turnover from tailoring is 10 lac.
his tailoring business is not registered in GST. he declared his both turnover in income tax return. Whether he get any notice From GST department for not declaring in his Tailoring Business turnover ?

What % tds on SAC Code 998314 2% /10 % ?

SIP ki dedusction le sakte

Dear Experts,

Let us explain to you that, our two entity (India and Singapore) Company has bid through Joint Venture. We get the project through joint venture. Both the companies work in the same project, but the client will pay only one of them. We issue invoices from India, as there is DTAA in India and client country. My question is how will we pay to Singapore company, as both are working in client place. Can anyone explain the procedure, how we can do payment/fund transfer (certain %) from India to Singapore.