Dear Experts.,

FY 2014-15 One of the Partnership Firms Profit as per Books of Accounts after paid remuneration (400,000) in Tally Rs. 89580. At the time of filing ITR Auditor disallow/Less the remuneration from Rs. 400,000 to Rs. 389,443 as per his calculation. (Actual Remuneration Rs. 400000 - Allowable Remuneration Rs. 389443 = Balance Rs. 10557). Also paid the income Tax as Profit Rs. 100137 (89580 + 10557)... But, In my books (Tally) shown the profit Rs. 89580 and I transferred the amount of Rs. 89580 to Two partners Accounts as 50/50...
My Questions are.,

1. The above said adjustments Rs. 89580 are correct or not...? or
2. Can I reverse the excess amount Rs. 10557 from remuneration to PandL account...?
3. If yes., I will show the profit Rs. 100137 in Tally and Transfer the amount equally to Capital Account in FY 2015-16...?

Hello,

I have a company in New Delhi and receive commission as agent of foreign company. Here is how it work:

- A foreign company, which does not have any entity in India, let’s call it "Taiwan", appoints me as an agent.
- I visit companies in India who are interested in the products of company "Taiwan"
- Let’s say company "India" wants to buy product/services from company "Taiwan"
- Company "India" will place order directly with company "Taiwan" and company "Taiwan" will ship to company "India".
- Company "Taiwan" will send me commission directly to my bank account as per our agreement @2 % quarterly.

My Question is
1. Whether is it considered as export of services & after paying IGST on same will claim refund ?
2. If it is not considered as Export then Wheter I have to do reverse calculation on commision & deposit GST @ 18 % on it from my own pocket ?

Sir
Good day to you
After creating refund application, I tried to submit the same
(The refund was credited under CST & CGST which I am able to utilise
as I pay IGST only.)
I got the message " System failure"
Kindly guide me to submit the same
Thanking you

Periasamy Rajeswaran
9442235649
rajeswaranper@gmail.com

WHAT IS THE PASSWORD TO OPEN INTIMATION U/S 154.

Hello all.

I am facing problem in uploading sales invoices for sales to the unregistered dealers in Tile No. 7 of the GSTR-1.

Although the message says that the invoice has been added successfuly, the summary page shows only the last invoice uploaded.

Kindly advice. I shall be thankful to you.

Hi Sir/Madan,

Actually we are running small school name (xxxx) and its running by a company name Mahesh Education Pvt Ltd in which, security agency providing the security services at the school premises in this case whether GST is chargeable on security services or not ??.

Waiting for your all favorable replies.


Thanks & Regards,
Mahesh

Dear fellow,

Please solve following doubts
Transaction type:- Off market transaction of Listed shares (short term).
Transferor:- Individual
Transferee:- Company

1) Can we decide the consideration in the off-market sale of the listed security or we need to consider prevailing market price?
2) If the prevailing market price is to be considered then which rate need to be considered? (Opening Closing or Average) since the broker takes 24 hours to perform the entire transaction.
3) If we consider price below the market price then what are the tax implications?

Dear Expert,

My client doing work contract in BSNL I have filled GSTR 1 for the month of Nov2017 behalf of Oct-2017 that mean oct -2017 wrongly filled Nov -2017

How can i rectify please help me very urgent

Whether TDS should be deducted on Transportation Charges ( Inward & Outward both ) ? I have received a bill from my transporter of Rs 77,000 but the transporter has asked me not to deduct TDS. The transporter has clarified that the transportation charges are 100% exempt from TDS deduction. Please guide me and oblige.

"PLEASE UPLOAD DOCUMENT IN SUPPORT OF THE OWNERSHIP OF THE PREMISES OF
THE OWNER LIKE LATEST PROPERTY TAX RECEIPT ISSUED BY CORPORATION
/MUNICIPALITY/ PANCHAYAT OR ELECTRICITY BILL OF THE OWNER OF THE
PREMISES." asked in Notice.

But my owner niether have property tax bill nor electricity bill in his name.
please suggest other valid document for ownership proof