Hi,

I have a query with respect to taxability of National Savings Scheme (NSS - 1987)
a) When is the incidence of tax liability for this? Is it only during withdrawal?
b) Whether the entire withdrawal amount will be taxed or (Withdrawal amount - Principal)?
c) Will TDS on withdrawal be deducted at 20% on entire corpus or only the cumulative interest component?
d) Whether during IT filing, the corpus has to be shown as income from other sources and tax applied as per slab rate normally? Is it correct?

Dear colleagues,
there was a land purchased in 2016. it was purchased out of loan and own contribution.
own contribution could not be debited to the land.
now in 2019, when it was sold, it was realised that land in books is at value lesser than purchase cost.
how can it be rectified in books of 2019-20?
plz reply soon

thanks

Jay traveled abroad on a business tour on 1 February 2019 and returned on 10 March 2019. He was provided 1000 EUR as a Daily allowance in his travel card. Jay spent 500 EUR abroad and remaining 500 EUR, he transferred in his Indian bank account on 15 July 2019. Is this 500 EUR taxable in FY 2019-20 or FY 2018-19? Please advise

Hello Experts,

In Feb20, i had made sale to SEZ party and filled GSTR1 as IGST, but payment of same invoice was made under SGST & CGST.

please suggest how to make correction.

P.N-April-June20 Qly GSTR1 & GSTR3B from May20 is yet to file.

TDS has been deducted u/s 194IA by Pvt company for using car and car is in the name of assesee. And Pvt company is paying to assesee monthly. So, which ITR form to be filed for A.Y. 2019-20 for assesee??

My client is providing payroll processing services and Works Contact Services to SEZ units under LUT without payment of GST... Query - Do we need endorsed Bills from SEZ units??? If yes, then who does endorsement in case of Services, SEZ Unit itself who received services or Specified SEZ Officer? And how endorsement is done?

My Client provides payroll processing services where he processes payroll and raises bills as follows...
Jan 20 payroll processed in Feb 20, So bill is raised in Feb 20 and GST is paid in March 20. However, even though March Month payroll bills are to be raised in April 20, As per Income Tax provisions, Income of March Month bills are booked in March 20 itself.
Now the question is, March Month Payroll bills which normally would have been booked in April but due to Income Tax Provisions booked in March itself, GST is payable in which month? Is it possible to treat such bills as Unbilled Revenue in Income Tax and GST is paid in Normal way. i.e. March Bills to be raised in April and GST paid in May 20 Or GST is payable in April itself treating these bills as March Bills merely because they are treated as revenue under income tax Act even if actual billing has not taken placed in March 20

I have GST Registration in Gujarat. And I have rented office premise in Rajasthan. Now, My landlord from Rajasthan gives me GST Bill of CGST&SGST of Rajasthan as (Place of Supply-Immovable Property- and Location of Supplier is in Rajasthan)
Query Can I claim Input Tax Credit of CGST & SGST of Rajasthan while filling GST Return of Gujarat I.e. Can ITC of CGST & SGST of one State be availed in another state?

A person trading of goods turnover Rs:50 lacs.but not gst registered.
Question:
not gst registered person penality applicable only or interest , penality both applicable.

One Of My friend, A Y 2020-21 Total receipt (Billing) 3554205/- work on Job Work on Wool Spinning. Not a Registration in GST. Please suggest, GST Registration compulsory or not. he fill only Income tax return from two year.