DEAR SIR,


ONE OF MY CLIENT HAVING GST NO AS A TRADERS. NOW HE WANTS START NEW ELECTRICT TWO WHEELER SHOW ROOM IN THE SAME CITY. NOW QUERY IS

1. SINGLE PERSON CAN APPLY TWO GST NO IN THE SAME CITY.
2. FOR INTIAL CAPITAL AMOUNT RS.1000000/- CAN BE PAID BY HIS TRADERS CURRENT/O/D/SB ACCOUNT
OR IF BETTER TO TAKE NEW REGISTRATION AND OPEN NEW CURRENT ACCOUNT AFTER THAT CAN INVEST THE CAPITAL.
3. FOR ELECTRIC SCOOTER GST RATE IS REDUCED FROM 12% TO 5% IS CORRECT

PLEASE CLARIFY ME YOU SUGGESTIONS ARE MORE VALUABLE

REGARDS

Respected Experts,

We have purchased new lorry for Rs. 26.88 Lacs for transporting goods in Nov-2018 and taken & utilsed GST around 5.88 Lacs.

Now, we want to sale this lorry as per condition for Rs. 7.50 Lacs + 2.10 Lacs GST. Can we do this or we have to reversed whole claimed GST?

Also, is there any exemption for sale of old Lorry? Is 2.5% exemption per quarter is available for this, if no, for there we can use 2.5% per quarter exemption.

Kindly advise.

Rakesh Sharma

I need to file ITR 5 for my LLP. Online and offline utility do not allow ITR 5 to be selected for LLP.

I downloaded excel utility for ITR 5 , filled in and created JSON. But for filing return, while uploading JSON get message that "Invalid hash value identified. Modification to ITR details outside utility is not allowed".

I have not used 'copy/paste' while filling in and used latest ITR 5 Excel utility.

How to solve this and file ITR 5 for LLP? Is there a another way to file ITR 5 for LLP?

Dear Expert- In one of my client case for the AY 2013-14 case was select for scrutiny by Face less Asst but subsequently it was transferred to jurisdiction officer and he has passed the order under sec 144 without issuing draft Asst since assessee not filled the in response to Notice u/s 148 since it was not served to him, because change of residence. Is it necessary for the AO to issue draft Asst u/s 144 C

The entire Paid up, issued and subscribed capital of the Company as at the date of order passed by the NCLT, including Equity Shares listed on the Stock Exchange stands cancelled and extinguished without any payout to the shareholders; and the securities of the Company stands delisted from the National Stock exchange and Bombay Stock Exchange ('Stock Exchanges')
In this case how the investment of a share holder for example of Rs 10,000/- will be booked as capital loss in Income Tax return as neither any trade nor STT payment has been made.

dear sir, input for 2020-2021 as per books 50000 input of 2019-2020 rs 50000 input rs 10000 claimed in 2021-2022

input in 3b 50000+50000-10000=90000 amount as per 8A is 50000 please advice where to show 50000 input of 2019-2020 and 10000 claimed in 21-22

case 1) Normal business income 10,000
Speculative income 2,00,000
Depriciation 15,000
COI shows as 5000(10000-15000) is set off against 200000 and net income 195000 which means depri which remains unabsorbed by normal B&P can be set off against speculative

case 2) speculative income only - 2,00,000
depri - 15000
COI shows as 200000 which means that depri cannot be set off against speculative income

what is correct ?
can depri be set off against speculative income ? if no then why is it set off as in case 1
if yes then why is it not set off as in case 2

Dear Sir,
Kindly hear carefully, I changed my Firm into LLP, due to which Bank Account of Firm get closed. But after sometime we realized that there was refund. Now we checked status of refund which is showing " Refund failed due to Bank Account Closed"
My clear question is that How to get refund now ?

Sir, I have a read some where or mis read it but i want to confirm that , The investemnt made U/s 80C is eligible for deduction if made out of taxable income of current year.
Since one of our Client is NRI he is having FDR Interest income and he send every year Rs 1.5 Lacs to his brother who deposits the same in PPF account is the deduction allowed to him.

Hello,

From the income tax website in order to register as representative assesee I need

1. Letter from bank stating I am the nominee/ joint account holder of the deceased account holder. (proof of legal heir)
2. Indemnity bond from all heir.

Is there any format for Item 1? If so can anyone forward it to me?
I could find the format for Item #2 on income tax website.

Thanks