One of my client has taken registration under GST,he is receiving two commissions,one from banks for loans and other services and another is insurance commission,so i wanted to know the gst applicability on both the incomes and how to charge and pay the gst and whether there is any reverse charge applicable or not.he is required to prepare the bill and send to the banks and parties or not.which record is to be maintained for gst return filing both GSTR 1 and GSTR 3B.

Thanks
SNEHAL

One of my friends has sold a site during FY 2018-19 resulting in a LTCG. Since he could not invest before due date, he has deposited the Net consideration in Capital Gains Deposit Account & has filed the Income tax return for the AY2019-20. Now he feels that he may not be able to invest and ready to pay the LTCG tax during FY 2019-20. The query is:
1. Whether he has pay any interest on the LTCG in addition to the tax if it is included in FY 2019-20 corresponding to AY2020-21?
2. To reduce the interest whether he can calculate the LTCG and pay the same before 31-3-2020?
3. How to withdraw the amount deposited in the Capital Gains Account in the bank? Whether bank will insist on any proof for withdrawing the amount?
Thanks & Regards

Sir/Madam
I, am NRI having Overseas Citizen Card (OCC) and holding shares in Demat account intend to gift these to my Daughter in law ,who is NRO, holding Indian Citizenship and passport. The market value of these share are more than Rs two lacs. Do I have to pay any gift tax ? ,
Regards,
Chhabilbhai Thakkar

Sir
I registered a partnership in Kerala.I am intending to start a branch in Karnataka.For gst purpose i want to make a supplimentary deed mentioning the branch details.Whether i can prepare the supplimentary deed in Rs 1000 stamp paper or Rs 5000 stamp paper.

Thanks in advance

Dear Sri, Can I Upload The GSTR 1 For Civil Contractors Govt Department Deducted 2% On Taxable Their I Got GST Number of Govt Department Now Can I Upload the GSTR 1 To B2B Or B2C And one More Thing Department Have Regular GST Registration For Your Reference GST Number of GST number 29AAALA0193L1Z2

Dear Expert,

Kindly guide for given below requirement :

Profession tax deduction from Incentive and Salary : We are already deducting a profession tax from the salary but we have not started to deduct from the Incentives. As per statutory norms we need to deduct the P.Tax from incentives also. In this case we have to combine the total amount of Salary and Incentive and then calculate the Profession tax over it. From salary, the tax gets deducted from system, while for Incentives we have to calculate the difference amount and deduct from the incentive and pay.This is to be implemented from April 2019 onwards, but since we have not done this compliance we will have to calculate the P.Tax for April and deduct it from May incentives of our employees. For May the new system will be followed.

Mallikarjun Shetty-Solapur (Maharashtra)
9423535956

MR.A FILED ASST-YEAR 2017-18 TAX AUDIT REPORT AS ON 27/12/2017. THE AO SENT TO NOTICE U/S 274 WITH SECTION 271 B OF IT ACT 1961
MR A ACCOUNTANT UNDER MEDICAL TREATMENT LEFT HIS SERVICE FROM JULY 2017WITHOUT FINALIZINATION ACCOUNTS. AFTER APPOINTED. ANOTHER ACCOUNTANT AND FINLIASIED IT RETURN FILED 27.12.2017.
HOW TO FACE THE IS NOTICE AND DRAFT LETTER MODELA WITH AFFIDAVIT AVOID OF PENALTY GROUND TYPE, WITH CASE LAW.
THANKS TO ALL

Hello every one, good morning,

I was paid TCS challan on 7 Jan 2020 and today I want to fill TCS return but challan is not update on NSDL and Traces web side.

In that case, could I filled return or wait for challan update?

Hi friends, Any one from Big 4 / MNC working for USA Companies... Pls help...
Salary is due but not paid in a US company. No tax is provided for. They continue to make provisions and claim it as an expense in Income statement but no provision for Tax. Salary is not paid. This is for owners so they did not demand salary to be paid as well.

They say salary is liable to tax only when paid in USA. So if you dont pay salary then it is not taxable.

In India salary is taxable as and when it is due or paid whichever is early.

I find this ridiculous, as i believe you cannot claim the salary expense if it is not paid and it escapes withholding tax as well.

But i could not pull the line item in their tax law where it says you either have to reverse the provision or provide and pay the withholding Tax. Pls help.

Hi Experts, I have a query related to Car leasing. In my company we have car lease policy, where employee can lease a car which is registered in the name of my organization. The EMI of Car lease (lease rental) is deducted by employer from my salary, hence it never comes to my bank account. Which gives benefit of not paying tax of EMI amount.
Now I terminated the Car lease by paying some x amount. I want to sell this car to third party now. As the car is in name of my employer and will directly be transfer to third party, my name won't come in RC transfer process.
I will, however, get money for selling car which will be say x+y. This x+y is less the x+EMIs I paid. However, I don't have record to show EMIs I paid as it was deducted by employer. The car was used for both official and personal purpose.
Do I need to pay tax here? if yes on what amount and how can I show in ITR ?

Thanks in advance.