To
The Fellow experts
During the FY 2020-2021(precisely between January 2021 to March,2021) a Contractor (Say 'Mr X') provide certain service to our Company the value of which is more than Rs.3 Lakhs.

But he submitted his bill for payment in April,20, 2021 for the entire amount.(No payment was made to him during January 2021 to March,2021).

At what rate his TDS U/s 194C will be Charged on Mr X(Being an individual) ie .75%(For FY 2020-2021) or 1%(For FY 2021-2022)?
Regards
Abhijit Majumder

Assessee is handling ships of Foreign Resident Owners. Assessee raises invoices on foreign owners with IGST @ 18%
It comes under Exports with Payment of Tax.
On certain expenses like Transportation GST rate is 5 %
In such case while raising invoice for transportation on foreign owners IGST will be charges @ 5% or 18% ?

Also whether assessee should file online LUT from GST Portal ?

Sir,

we charged TCS @ 0.075% on sale invoices Mr X whose sales crossed >50 lac in FY 20-21.

My query is shall we charge 0.1% on Mr. X sales because sale exceed >50 lac in previous year or we should charge only after >50 lac sales in the Fy 2021-22.

Plz clarify

Hi

There is couple of queries regarding TDS Returns

1) Person(Individual) with pan no taken Tan no two year before but neither deducted any tds nor filed any tds returns so far.Is there any consequency for not filing tds returns with nil value?

2) Partnership firm with Tan no paid and filed quarterly return for two quarter and for next two quarter firm has not done business and even not deducted tds amount so far and not filed tds returns.So question is whether firm need to file nil tds returns for next two quarters for which firm didnt do any business.Is there any conseuency for not filing nil tds returns?

Thanks in advance

I have sold the property on 30 Lacs in 2020 which one is purchased in 1994 at 1.5 lacs.now my Accountant Forgot to show property in 2019-20 p.y return.and E campaign show the 30 lacs sold value.
what to do next..
as of now i am unable to revise the return. so could i show this in 20-21 return???

Hi,

Came across this very interesting situation. A person was employed in Saudi Arabia from 1st April 2020 to 28 June 2020 (89 days) with a work visa and residency, and all. He continued to stay in Saudi Arabia until 10 Sep 2020 (~163 days), and then returned to India. After that, he left for Nepal, where he stayed for 15 days (through airport, so he has the stamps), followed by 15 days in Maldives in the same financial year.

Is he an NRI during FY 2020-21? Thanks!

Dear Sir,

For example,
I am a ltd company. i have deducted ESI from employees side rs. 2,250 and employer side of rs.9750 and i have deducted TDS from suppliers and employees totalling of rs. 50.000.

Please note that, When i file income tax return at end, can i take anything from the above mentioned as deduction from the income tax payable?


Please can you explain me briefly.

Dear Sir,
We request you to give advice that I have a client who has a business of proprietorship transport business. He bills to the big transport ( Ltd Co.) who does not pay GST to us.
Plz advice, how to file GSTR-3B and GSTR-1 as different people have different views and I am confused.
Your valuable advice will support us to much.
Regards

Dear Sir,

I received a query in which one person has filed his ITR without claiming TDS credit for FY 2019-20 as the tds credit was not given by his employer at the time of filing the return.

Now the employer has corrected his mistake and tds credit is reflecting.

How can this tds credit be claimed as revised return due date is already over on 31.03.2020.

Please help.

Regards,
Divyesh Jain

We invest rs.100.000 in open end mutual fund scheme, when we return back the amount?

can anyone answer me please?