We have Manufacturing Company (Pvt Ltd). We purchase our Raw materials from another manufacturing company. They send materials to our factory by their own trucks.

They issue two type of Invoice one is Materials Invoice and another is Freight Invoice.
Now Question is:
Q1/ Can a manufacturing company issued separate Freight Invoice? Is manufacturing company fall under GTA service Provider?
Q2/ What will be the rate of GST on freight Charge?
Q3/ Can we take ITC from Freight Bill?
Q4/ is RCM applicable for me?

Please Guide me

One of my client want convert Sole proprietorship into Private Company. He started Sole proprietorship in this year and also want to convert to private company in this year so whether it is lawful ? if yes whether expenses incurred in the business upto conversion can be carry forward to company income tax return ? please say the Conversion Process.

Dear All ,

Any income tax provision applicable. if director giving interest free loan to it's company . and company not paid any interest to director . and director borrowed loan amount from bank on his own account.

Dear Sir, we are received a labour contractor invoice of 1,85,000 and i paid 1,55,000 by cheque (TDS Deducted ) and rest 30,000 in cash ( 5000 * 6 in diff. dates ) . so should i deduct tds on cash payment (30000) or not. please suggest me.

Thank You.

Hi'

I would like to have clarity on the following with respect to Income Tax calculation for the financial year 2019-20:

1) What is the maximum deductions that shall be shown
2) Shall we claim Housing Loan - Principal / Interest for 2 properties at a time
4) Shall we claim medical expenses of in-laws for a women tax payer
5) Standard deductions for HRA
6) Standard deduction for women employer
7) Any other standard deductions that shall be claimed

Any one pl. support me

Dear Sir,
what is the entry for freight provision, if we need to deduct freight amount due to freight bill not available with purchase invoice.
And when we received freight bill.

Hi, as per my understanding interest on the housing loan taken from family and friends can also be claimed under s24 as a deduction st limit of 2lacs. However an interest certificate is needed from the person from whom loan is taken. Can you please advise how this certificate can be obtained?

SOME HAS GOT NET AMOUNT OF RS 21 LACS ON ACCOUNT OF SALE OF FLATS AS AGAINST WHICH NO EXPENSE CAN BE CLAIMED. SIMULTANEOUSLY OUT OF 21 LACS THERE ARE SEVEN PARTNERS EACH DRAWING A SHARE OF RS 3 LACS. Now the question arises whether each 3 lacs is shall be taxable or not ?

sir,

Experts, our company is taking service from other company for die cutting of paper. basically it is our service purchase But In the Bill it comes to US written of HSN CODE :-8442 .Now my question arises did I deduct TDS on them or not.if yes why and if not why .pls clarify my doubts.

Sir/Madam
Kindly provide guidance
For AY 19-20 a belated returned was filed. By mistake loss of current year was shown as carried forward loss.
Intimation under Section 143(1)(a) has been issued requiring a revised return to be filed.How can loss of current year be shown in revised return so that it is not carried forward.
Thanking you in advance.