Dear Sir,
My Client is an individual, he has made an agreement to purchase/sale of a commercial shop with a builder, and details of the agreement are as following:
1. Paid 10% of purchase consideration as advance through account payee cheque on the date of above agreement.
2. Date of agreement was 1st October, 2015.
3. Purchase price was settled @ Rs. 5,000/- per Sq. feet.
4. Stamp duty value (circle rate) on 1st October, 2015 was Rs.7,000/- per sq. feet.
5. Value assessed by Valuation Officer on 1st October, 2015 was Rs.5,000/- per sq. feet.
6. He has gifted 50% of his share to his son on 1st July, 2017 & after completing the formalities, the builder enter the name of his son in the agreement. Now both names are appearing in the agreement.
7. Stamp duty value (circle rate) on 1st July, 2017 was Rs.8,000/- per sq. feet.
8. Value assessed by Valuation Officer on 1st July, 2017 was Rs.6,000/- per sq. feet.
9. Registration of this shop was executed in joint name on 1st November, 2019 & circle rate on that date was Rs.9,000/- per sq. feet.
10. Value assessed by Valuation Officer on 1st November, 2019 (date of registry) was Rs.7,000/- per sq. feet.

Kindly advice whether any income chargeable to income-tax under the head Income from other sources or under any other head to his son.
Regards,
Thanking in advance,
K M Goyal (FCA)
M No.: 9899799000

Dear Sir,
My Client is an individual, he has made an agreement to purchase/sale of a commercial shop with a builder, and details of the agreement are as following:
1. Paid 10% of purchase consideration as advance through account payee cheque on the date of above agreement.
2. Date of agreement was 1st October, 2015.
3. Purchase price was settled @ Rs. 5,000/- per Sq. feet.
4. Stamp duty value (circle rate) on 1st October, 2015 was Rs.7,000/- per sq. feet.
5. Value assessed by Valuation Officer on 1st October, 2015 was Rs.5,000/- per sq. feet.
6. Registration of this shop was executed on 1st November, 2019 & circle rate on that date was Rs.9,000/- per sq. feet.
7. Value assessed by Valuation Officer on 1st November, 2019 (date of registry) was Rs.7,000/- per sq. feet.

Kindly advice whether any income chargeable to income-tax under the head Income from other sources or under any other head.
Regards,
Thanking in advance,

K M Goyal (FCA)
M No.: 9899799000

SIR,
MY QUERY IS IF PARTY INVOICE RAISE ON TRANSPORT WITH GST CHARGES THEN IT'S FALL UNDER RCM OR NOT AND WHO WILL PAY LIABILITY AND INPUT CREDIT TAKEN?

Dear Experts,

Plz clarify the below:

1. Material received from (X) Karnataka to (Z) Telangana. Transporter is located @ karnataka , which tax shall be payable by " Z " under RCM (CGST+SGST OR IGST)

2. Material received from (X) karanataka to (Z) Telanagana. Transporter is located @ Telangana, which tax shall be payable by " Z " under RCM (CGST+SGST OR IGST)

awaiting for your valuable reply

Specifically, I have the following queries with reference to Chartered Accountants Act :
1. Is trading in shares considered "other business"? When is it not considered "other business"?
2. Will obtaining permission by a CA holding COP to engage in other business (like trading goods, wholesale, restaurant, trading derivatives, etc.) make the applicant ineligible to perform attest functions (audit, signing as CA, etc.)?
3. Can a CA not holding COP or holding part-time COP engage in other business (like trading goods, wholesale, restaurant, trading derivatives, etc.) without performing any attest functions?
4. Can a CA not holding COP or holding part-time COP engage in consultation, tax advisory services, filing services, etc. without performing any attest functions?

Dear sir,

We done the mistake in filing of GST, Actually we have taken GST registration in Oct-17 and after that we have filed Oct-17 GST return in that we have taken Jul-17 invoices in Oct-17 filing so now we are going to file the GSTR-9 can we remove the July-17 invoices and considered only invoices from Oct-17(when registration done in Oct-17).

Kindly advice on this.

Regards,
Rajesh

I GOT AN ORDER THAT DIN XXXXXXXXX IS GENERATED IN RESPECT OF COMPUTATION SHEET OF ORDER u/s 143(3) r.w.s 147 DATED 07/12/2019 PASSED IN ITD/AST APPLICATION OF INCOME TAX DEPARTMENT IN THE CASE OF RAXXXXXX, PAN AAXXXXXXX FOR THE AY 2012-13. THE DIN MAY BE TREATED AS COMMON DIN FOR THE RELEVANT ORDER AND ALL ITS ANNEXURES

One of my assessee has filed Income Tax Return for A.Y. 2017-2018 after obtaining Tax Audit Report. But Audit Report not updated on Income Tax Portal. Now assessing authority is insisting on Penalty U/s271B for non-submission of Audit Report. Kindly give me suggestions to avoid Penalty U/s 271B and also give me recent case laws in favour of assessee in this regard.

Hello Sir what is the Accounting Head and subhead for Transmitter Purchase?

Sir,

A Registered under GST, he paid monthly shop rent 5000 to owner. RCM apply and threshold limit of RCM.