Dear Sir / madam,

I wish to know: Mr A is routing GST by maintaining duties & taxes. He is liable for tax audit. He has not paid GST for Jan to March 2019, which is shown as payable in Balance sheet. Please tell me, whether this GST of Q4 will be disallowed and added back to his profits in computation?? He is maintaining duties & taxes.

Kindly guide.
Thanks,
Suraj

Anyone can subscribe to shares of a Urban Co-operative Bank (UCBs in Gujarat).
However, If Shares of a Co-operative Bank are issued to Individual at Face Value of Rs. 100/- but the Book Value (As per Networth of the Bank as per bookvalue of closing balancesheet) of the Share is Rs. 500/-, then, whether difference of Rs. 400/- be treated as taxable income in the hands of Individual allotee of share u/s 56(2)(x) of IT Act amended w.e.f. AY 2018-19?

Asseessee HUF is trading in F & O

In A Y 17-18 & A Y 18-19, since F & O Turnover were More than 1 Crore & Profit were Less than 6%, so Tax Audit was done in Last 2 years.

In AY 19-20
F & O Turnover is Rs 21 lacs approx
and there is Loss in F & O business, No other Income Except Bank Interest


Will Tax Audit Applicable ?

AS PER 37TH GST COUNCIL ANNUAL RETURN FOR F Y 2017-18 & F Y 2018-19 IS NOT MANDATORY. SO WHETHER WE HAVE TO COMPULSORY RECONSILE DATA FOR GSTR 2 & GSTR 2A FOR F Y 2018-19 (T.O UPTO 2 CRORE). FURTHER IF WE HAVE TO DO WHAT IS THE LAST DATE. SEP 2019 WE HAVE TO ADJUST OR WE CAN DO UPTO MARCH 2020. ALSO IF WE HAVE NOT DONE UPTO SEP 19 WE HAVE TO LOSS ITC FOR PREVIOUS PERIOD.

I spend 20% of Purchase consideration for an under construction flat. The construction is near to complete and Completion Certificate (CC) will be issued within a month.
My question is the applicability of GST on the portion of my payment before CC and the portion of payment after getting CC.

Respected Sir,

As I have to workout the dep for a pvt ltd company, I shall be highly obliged should you please let me know useful life for the following assets :

1- Computer 2- Electrical Fitting 3-Furniture & Fixture
4- Motor Car 5-Office Equipment 6-Vehicles

Please let me know the way dep for a pvt ltd company is worked out.

With kindest regards

yours tarique rizvi
982 1630 130

On sale of used car, GST is to be calculated on the margin (Consideration received - WDV), now the WDV should be as per the Companies Act or Income tax act. Please clarify.

One trust having registration under 12A & 80G of IT Act has excess of income over expenditure which is more than 15% of the gross receipts. Excess income was utilized to repay the unsecured loans pertaining to the period prior to granting permission of 12A & 80G. in such a case surplus income could not be invested as mentioned u/s 11(5) and consequently deduction u/s 11(2) could not be claimed. so whether trust need to pay the tax on surplus amount ???

How to Calculate the Capital Gains for a trust?

How to compute the Turnover of Banks/Banking company?