Sir ,

We have taken the insurance for stock movement from other country to anywhere in india and for that purpose we have paid the premium to the insurance company ,My Question is that whether tds is to be deducted on such payment .

Secondly is any other tax applicable pls specify .


Regards

Sir,

My Society registered under Socities Act in North-east State Nagaland and received GRANT from Government of India, Ministry of Tribal Affairs for construction of skill development training centre under scheme of SCA to TSS (Special Central Assistance to Tribal Sub Scheme) Creation of Capital Assets. Please suggest me as we are liable for GST or not. Thanks.

We are a cooperative housing society and sinking fund is collected on a monthly based on the flat area. The society has decided to undertake repair works. The funds will be generated as below: -
Repair funds = Sinking fund +building Repair funds+ additional collection from members based on flat area.
Now a 2 BHK flat owner has more flat areas so their contribution to sinking fund is the more as compared to 1BHK & 1RK. The society is planning to utilize sinking + building repair fund as common funds, in such case it acts as a subsidy for 1 BHK and lower area flat owners as they have already contributed less to these fund as their flat area is smaller and 2 BHK owner losses the most. Note If the society is doing additional collection for repair fund based on the individual flat area, then why cannot sinking + building repair fund which is already collected based on flat area be divided based on the individual flat contribution so that it will be a win-win for all. opinion and view on this.

Hi all,

I have purchased a house property(flat) in 2015. I got possession of the house in 2021. Can I claim interest paid on pre construction period in my ITR for FY 21-22 as an interest on loan of pre construction period?

Thanks in advance.

We are supplying to DSIR Recognized Centre’s the subsidized GST rates for such items are 5% in case of import & interstate purchase, and 2.5% along with SGST and 2.5% in case of purchases within the state. Now my question is that can we avail 100% ITC on our input or reverse certain percentage of input.

How do we treat this? Supplier should issue the credit note and reverse the GST ?

I have an under construction house property for which I have availed home loan. I paid 1 lac interest in FY21. Construction of the property will be completed by FY23. While filing income tax return for FY21, where to mention interest expense on under construction house so that I can avail benefit post completion of property.

SIR,
Sec 44ad it return filed jewellery business dealer invoice for cash sale limit and cash receipts limit from customers under it and gst act.

I am a salaried person with annual salary income of Rs. 10 lakhs. I had incurred short term (3 lacs) and long term (2 lacs) capital loss on shares in FY20. In FY21, I have made short term (1.5 lacs) and long term (1 lac) capital gain, however I had taken sabbatical leave in FY21 so my salary income for FY21 was nil. In this way, my total annual income for FY21 was only 2.5 lacs through short and long term capital gain. As my total income in FY21 is below than exemption limit, I don't want to setoff carried forward losses of 5 lacs incurred in FY20. Do I have this choice?

SIR IN PREVIOUS YEAR OUR COMPANY HAD LOSS BUT IN CURRENT YEAR DUE TO EXCHANGE DIFFERENCE THE PROFIT ARISES. SO TAX IS CHARGED AS PER MAT PROVISION. SIR I HAD QUERY THAT THE PROFIT IS NOT ACTUAL PROFIT THIS PROFIT IS DUE TO FLUCTUATION IN EXCHANGE DIFFERENCE SO THERE IS ANY PROVISION IN mat REGARDING THIS POINT THAT NO TAX IS CHARGED ON MAT