I.t. assess sale of paddy to rice Miller. Cash received rs.270000/ from rice Miller.

Sec 269st applicable.

In view of the recent amendment in section 44AE, which weight should be taken to calculate presumptive income of a heavy goods vehicle, G.V.weight or U.L. weight or R.L.weight ?

A trader who did not withdraw money from his firm but credited 100,000 rupees in his Personal Savings Account throughout the year, as per IT Rule would it be treated as income from other source (Extra Income)?

Hi Everyone
We are Regsitered Chit Fund Co and we are aCCepting the Monthly Chit Subscriptions in Cash(In Excess of Rs.20000) and Paying the Prize Money to the Subscribers Compulsary through Cheque only My Q is as follows

1 As we are aCCepting Chit Subscription through Cash wheather Covered by SeC 269SS is applicable

As per SeC 269T "loan or deposit" means:
▪ any loan or deposit of money which is
▪ repayable after notice or
▪ repayable after a period and,
▪ in the case of a person other than a company, includes loan or deposit of any nature;

As Per my My Knwoldege the Monthly SubsCription paid by the subscribers is not Loan or Deposit to Company just we are Collecting the money from the specified group members and paying the Prize money to One member among the Specified group only. So at the end of the day Co Doesnt have any Deposit or Loan in his hands.

Please Guide

DEAR SIR,

ONE OF MY CLIENT STARTS NEW SOLAR POWER PLANT WHAT IS THE GST IMPLICATIONS ON SOLAR ENERGY WHETHER IT IS TAXABLE OR NOT. SUPPLY OF SOLAR ELECTRICITY TO ANY ELECTRICITY BOARD AND HOW TO CHARGE GST IS SOLAR ELECTRICITY IS EXEMPT FROM GST OR NOT.

PLEASE CLARIFY ME

REGARDS

Before certifying the Reconciliation Statement in GSTR 9 -C, is the Chartered Accountant mandetorily required to verify with documents and records that 1)the ITC is taken only on eligible inputs & input services 2) GST liability is correctly worked out 3) GST under reverse charge is paid on all applicable transactions 4) Job Work procedure is correctly followed or not. OR he is only required to reconcile the GST records with Balance Sheet figures and then certify accordingly? Please guide.

Dear Sir,
We have applied for GST registration. We have just received a notice from department. Seeking a clarification "ADDRESS IS NOT COMPLETE"
Now the problem is that the shop is situated in rural area. and there is no house no alloted by the nagar nigam.
we have attached a electricity bill for address and rent aggrement. The address which is mention in electricity bill is " JILAY SINGH S/O SH BUDH SINGH, NAYA BAZAR, JAMALPURA LONI GHAZIABAD 201102
We have one another proff of house tax receipt with the same address.
We have no any other proff so that we can clearifty the address. What shall we done in the situation please tell

There was air information with department of sale deed of 54 Lacs. Notice of inquiry sent. It was replied. Ito filed it without any adverse comments. After some time, his case was opened by new Ito under 148.
Now facts of case: A has adopted his wife's bhatija as A didn't have child. Adoption was not written. A made a will in favour of his son. Than A asked son that he should get his land registered in his name to avoid any litigation after death. They executed sale deed and write that consideration is received. But in actual there was no consideration. While first proceedings A has given affidavit that he didn't receive any consideration. ITO FILED THE CASE. BUT NEW ITO OPENED AND MADE ADDITION and state that in sale deed A has admitted before tehsildar that he has received consideration. I asked CIT A, she said we have confirmed additions in the like wise case but it may be quashed in itat etc. What's your advice?

My Client Received commercial credit notes under different heads such as Rate Difference, Schemes and Turnover Discount

The supplier has issued commercial credit notes without giving any effect of GST.

so my Question is whether the dealer is liable to pay GST on it

If yes then how will they have to issue Invoice against the supplier or they have to reduce the ITC.?

This is the error
Defect:- Total Value of "Total Revenue from operations" and "Gross receipts"in P & L should be greater than or Equal to income u/s 44ADA in Schedule BP

Impact Income Tax Return may be treated as defective if assesse shows income under presumtive scheme basis without filing gross receipts or total sales fields in profit and loss account

Suggested resolution Please ensure that "Total Revenue from operations" and "Gross receipts" in P & L should be greater than or Equal to sum of income u/s 44ADA in Schedule BP

Have entered in P&L under sec 44ADA---Gross receipts -Rs 420937 and premuptive income u/s 44ADA as 399000. In schedule BP amounts are autopopulated.
Dont understand the error and resolution . Pls help