EASYOFFICE
EASYOFFICE


Jashpreet kour

The case was selected for scrutiny u/s.143(3) and notice was duly served upon assessee u/s.143(2) of the Act on 09/08/2018. Later on if case was transferred u/s.127 of the Act say on 24/08/2019, then again issuance of notice u/s.143(2) is mandatory by the Ld. Assessing Officer having jurisdiction or not?
If ans. is yes but suppose no Notice was issued u/s.143(2) and assessee did not raise any objection and proceedings completed u/s.143(3)? Can we challenge such non issuance of notice or not?
Whether sec.292BB apply in such case or Not?
Kindly Reply.


D R V Narendra Reddy

Assessee is an Individual aged about 72 years during the financial year 2019-2020, she transferred a residential house property and purchased two other residential properties within the same financial year. But the properties acquired were in the name of her son and the sources for acquisition were transferred from her bank account to the sellers accounts. Now, the query is whether she can claim exemption under section 54 for the LTCG on the sale of residential house property.

BY: D R V NARENDRA REDDY


Arvind Pusalkar
01 August 2020 at 12:47

IT Return Due Date FY 19-20

What is a due date for Filing Income Tax Return For FY 2019-10 for Assesses whose accounts are to be audited


MAHESHA R

Dear Expert

Kindly advise how to identify exact Professional and Technical service for deduction of TDS as per new rules.


sankar ponnan
01 August 2020 at 11:13

GST Exempt

Sir
As a transport company is GST exempted, it should always loss of its GST credits at the time of purchase of tyres and spares ? Any other ways to solve it?

Because, why it should pay gst even though it is under non-eligibility category?

please guide me
thanks in adv


Maheswaran S

I Couldn't able to file ITR for AY 19-20 now though Due dates are extended till 30th September 2020. When I try to file the returns the Income Tax Website Says "Due date for filing this ITR under selected return filing section is over". Is it a website error?


Basanth Kumar
01 August 2020 at 10:41

Income Tax Return

Sir, I am an accountant, earning a salary of Rs.18,000/- P.m, Myself & Mother having a Joint Bank Account, & My mother receives a rent of Rs.16,500/- annunity of Rs.5,992/- from LIC Policy. on every month. Do I Required to file a Income Tax Return, my mother is a Senior Citizen, If I file a ITR Can i show Rental income in my ITR . & also can we get a housing loan if i file a ITR . Please advice.


SRINIVASA RAO P
01 August 2020 at 10:04

Accounting Entry

Every month we are paying our office rent in advance in the first week of the month itself ( i.e., for the month where the rent has to be paid in subsequent month is paid in advance) after recovering TDS and TDS is remitted in the next month before 7th.
Should I pass this journal entry :
Office Rent A/c. ......Dr.
To TDS. A/c
To Party A/c
at the time of payment and later when payment is made
Party A/c .......Dr
To Bank A/c.

Or simply this entry at the time of payment through Payment voucher.

Office Rent A/c .....Dr.
To Bank A/c
To TDS A/c

Which is correct ?
Plz clarify .


Anjali Sudhakaran
01 August 2020 at 10:03

44AB

If firm has incurred loss in current AY. Is it needed to audit u/s 44AB , as income declared is less than 8%.


SRINIVASA RAO P
01 August 2020 at 09:49

194 C

A contractor has submitted two different bills for two works done in the office.
One bill dated 13.04.2019 for Rs. 19,650/- and another bill dated 04.05.2019 for Rs. 11,380/- .
No TDS was effected on those bills since they are within the limit.
Bills accounted in the books by crediting to the account of the Contractor on those dates.
Total amount payable is Rs. 31,030/-.
This amount was paid on 05.05.2019 in a single cheque .
Plz clarify whether TDS has to be effected at the time of payment since it has exceeded the limit of Rs. 30,000/-.