A firm (Agro feed) has given advance of Rs. 1.50 Lac to one party and received cash later on at different dates saying that the party did not delivered the material.
Is it permisssible under the income tax act?
Plz guide .

Kindly advise RCM applicable services and threshold limits for Per Transaction in details.

I think OTP to file the return is given on mobile no as well as email id. But i am not receiving otp on mail..what is the reason behind it?

which ITR should be filed -
(i) If MR has only commission income of 150000 and TDS u/s 194H
(ii) If MR has both Salary income of 150000 and Commission income of 150000
MR = Medical Representative

Dear sir

Suppose I bought a flat in Jan 2019
Flat cost 80 lakhs
Stamp and registration charges 5 lakhs
Gst paid 1.2 lakhs.
And I sell the same property on 1st Jan 2020.
What is my cost of acquisition?
Whether gst paid sould be included or not?

Mr X(NRI) filed a ITR 1 showing other income 10 Lacks which is salary received outside India for FY 18-19.
But Didn't pay the tax on 10 l and now received a notice for tax payment.
Return can't be revised now a due dates is passed and under rectification we can't change income..
So what should be the treatment as there is no tax liability in the present case due to person is NRI and income is not taxable in India.

If file tds statement through tin facilitation center than how can generate form 16A to given to deductee from trace portal.

We have got TAN NO. Now to register on traces. Now how can i register on traces.Is it necessary for reg on traces atleast u should have made one tds tax payment?

Assess new strated construction of commerical building in f.y.2019-2020
Some Construction expenses rs.5,00,000/- payment through on cash mode (10,000/- limit above per day)
Int paid bank loan rs.4,15,500/-
Question:
Assess construction expenses paid above 10,000 limit amount construction value including or excluded
Int paid to bank loan amount including construction value or business expenses .two expense transactions treatment in books under I.t. act.

Assess income from professional 40 lacs
Turnover of cement business 90 lacs

Assess I.t. return filed both sec 44ad and sec 44ada applicable.