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10 August 2020 at 00:21

TDS

a party
b party
c party (labour worker)

1) a party given gold 99.99 to b party .
ex: a=100 grm given b party= 100 grm
2) b party receive gold from a party
b= 100 grm balance gold b given gold
c for jewellery
making 50 grm = Sunil Worker
50 grm = manoj worker
sir, what is tds liability of “B” for “C” labour worker ?


10 August 2020 at 00:03

Clubbing of 2 incomes

Dear Sir,

I am a Tax consultant and used to file my Income tax return U/s. 44AD under individual capacity.

I earn contract income and TDS gets deducted under section 194C which is reflected in my Form 26AS.

From this F.Y. 2020-21, I will be earning a Rent income as well from Commercial property on which TDS will be deducted under Section 194I.

My query is whether I will now be able to file return U/s. 44AD as now I have rent income as well which is considered as business income since it is from commercial property. I will be showing 2 types of Income in my Profit and Loss. Is the 20 lacs turnover limit for GST registration applicable for rent income from commercial property as I am not registered under GST.

Please help me to resolve this matter.

Regards,
Divyesh Jain


09 August 2020 at 22:38

Rectification of error

Is there any way that a erroneous capital gain relating to A.Y. 2018-19 ITR be corrected while Filing ITR of A.Y.2020-21? If not, then is there any way that the CPC could be made aware of the correct capital gains relating to A.Y.2018-19?


09 August 2020 at 22:06

Is audit necessary

Is audit necessary for f&o loss of about 8 lac with turnover of 18 lac. Intention is not to carry over the loss,but at the same time I want to be compliant with rules.


09 August 2020 at 21:59

Registration

From past few days ,while registering for CA intermediate group 2( earlier i was only registered for group 1), my foundation details are not showing up which should be pre-filled and i am also not available to fill it.there is no option to fill those details.
pls help me what should I do as last date for registration is on 26 aug ( for nov 20 exam) after that i cannot give second group exam


09 August 2020 at 21:43

Registration

Sir
I want to start a proprietorship firm. Where I should register my business first?
Guide me plz
Thanks in adv


09 August 2020 at 17:39

Query relating Blocked Credit U/s 17(5)

Dear All,

Please clarify the confusion through Illustration below :-

A company has given a contract of Rs, 9,60,00,000 (Excluding of gst @ 28%) to a civil contractor for construction of office Building

The company is engaged in manufacturing and supply of Taxable commodities as has branches through out the country.

"Now we know that under section 17(5) of cgst rule this type of input is ineligible for ITC against your taxable supply"

My question is if we consider the same, it is treated as Fixed Assets(Building) of the company therefore according to my valuation = Rs. 9,60,00,000 + Rs. 2, 68,80,000(GST)= Rs. 12,28,80,000 to be transfered to Building(Fixed Assets A/c)

now at the end of the year on what amount I will calculate Depreciation.......?
Whether, we need to calculate depreciation on the full amount inclusive of gst= Rs. 12,28,80,000/- as I have not availed the input......against taxable supplies.

Or, we need to calculate depreciation on the Amount (Exclusing GST)= Rs. 9,60,00,000/-........................?

Which one is correct.


09 August 2020 at 16:21

Gst applicable value and rate of tax

Dealer sales of jewellery value rs.87,150/- making charges rs.6150/-total invoice value rs.93,300/-
Question:
If dealer composite scheme registered gst applicable value on rs.93,300 or rs.87,150
And rate of tax applicable.
If dealer regular scheme registered gst applicable value on rs.93,300 or rs.87,150/-
And rate of tax applicable.


09 August 2020 at 15:18

Regarding Equity Share capital

Please can anyone clear my concept?.
1) I have confusion regarding Equity share capital against outstanding shares.
Equity share capital is shown in Balance sheet liabilities side for outstanding shares .Which outstanding shares are shown whether it hold by outsiders only or also promoter holding in equity share capital.
2) What Rate per share is taken for for multiplying x No of outstanding shares .
I think they do calculate share at issue price which is issued during ipo
For eg Rossari Biotech IPO issued at Rs 425 per share.


09 August 2020 at 13:23

ITC for Automobile service

Can we claim ITC for the charges paid for servicing the Car used for company use.



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