Sir, one of our client is a company it has not started its business since inception. in there only land and building and no depreciation is charged since inception its book value is Rs 3.75 Cr. Now we are selling that land for Rs 12.50 Cr. I want to Ask
1. Do we have to exercise to option of Sec 115 BAA this year itself i.e while filing ITR of A/y 2020-21 as in next year this window will be closed. or can be apply next year also.
2. Will MAT be applicable on this capital gain if we remain in old regime.
3. Will Capital gain be taxed at normal 20% slab whether we are in old provision or Sec 115 BAA.
4. Whether indexation be allowed to us as no depreciation is claimed.
5. If we go for new scheme we are having brought forward loss of Rs 26.50 Lacs can we setoff it under new Sec 115BAA As the Sec Blocks Sec 72A losses and not Sec 72

Respected Sir,
As per books of accounts OCT 20 ITC is as of Rs 62,620

but

as per 2-A OCT 20 ITC is as of Rs 15,402

Some of the customers may be filing quarterly R-1

In such situation should I consider 2-A
or
should I consider ITC as per books of accounts

Heavy Difference has been found between both the ITC

Please guide me and oblige.

A Senior citizen pays lic premium of B & C grand childrens as B & C has lost their father. A has a daughter in law who is a income tax assessee. Can we claim deduction for Mr A when he pay LIC Premium of B & C treating the income of his daughter in law is not sufficient to bring up the childrens. or one child premium can be claimed by grand father and one child premium for her daughter in law if she pays
suggest how we can claim benefit under incometax for grand father and daughter in law

Respected Sir,
As per books of accounts OCT 20 ITC is as of Rs 62,620

but

as per 2-A OCT 20 ITC is as of Rs 15,402

Some of the customers may be filing quarterly R-1

In such situation should I consider 2-A
or
should I consider ITC as per books of accounts

Heavy Difference has been found between both the ITC

Please guide me and oblige.

Hi Sir / Mam,

Good Morning!!

We have RCM on Builders/ Developers i.e. If promoter (Builder/developer) fails to purchase at least 80% of the value of input and input services, from registered suppliers, he is required to pay GST under RCM.

I wanted to know whether EPC (Engineering, procurement & Construction) Company will also be covered under Builders/Developers to calculate the limit of 80% and apply RCM under GST law.

Please help me with the reference of section or rules under GST law.

Thanks and regards,
Devraj Dhwiti

I have applied for DIN and the application has been accepted. On checking with the SRN No., it says "pending for payment". It also says "Please note if the amount is debited from your account do not Cancel the SRN".
My payment has been debited from my account but I am yet to get the SRN. Please suggest what should I do?

Hi all,
GST (under RCM) paid for the month of March 2020 in the month of may 2020 bse of lockdown. When can credit of the same be availed ? whether for the month of march 2020 or for the month of may 2020?

Thanks in advance.

SIR
We are GTA, also registered under GST, but not charging any GST in the invoice for the services providing by us. ------- We are buying bio-diesel from Parties for our own use and accounting the transactions perfectly. My doubt is whether the stock of bio-diesel has to be maintained seperately like the manufacturing unit?

guide me plz
thanks in adv

Is it possible to create a GST Invoice without any HSN or SAC?
Both the parties are registered under GST.

We have taken the consultancy service from MA TARA CONSULTANT. MA TARA CONSULTANT is propritory business . But the payment to be made to the owner of MA TARA CONSULTANT.
The name of owner is Dipak Singh . Total bill amount is 150000/-.

Please inform me the TDS amount & Accounting entry.