I had filed the ITR-5 on 31-08-2019 while claiming therein the TDS credit of which was not reflected in 26-AS because the deductor neither paid TDS nor field the TDS Return, In such circumstances I had kept the e-verification in pending. A week back the deductor paid tds and filed the tds return for the ay 19-20 because of which the tds is getting reflected in 26-AS and as such I have now e-verified the said ITR-5. In this connection I would like to know whether even in such circumstances the ITR-5 shall have to be revised for the said ay 19-20. Please guide me and oblige sir,

One of client get conversation from composition to regular . And he has to file ITC 01 UNDER SEC 18(1) C with in 30 days from the date of conversation. But he fails to claim now what will the solution and how can he get this...


Thank you...

Dear Sir,

I have a query about taxation of trust not registered with income tax U/S 12AA.

Such unregistered trust have income of Rs. 350000 (3.5 lacs) of voluntary donations (not corpus donations). the trust had expenses the whole amount of Rs. 3.5 Lacs (even more) for general public utility purpose and administrative expenses. Now trust in loss of Rs. 14,000/- for the particular financial year .

now the qury is, what will be the taxable income of the trust. Whole of the rs. 3,50,000 (3.5Lac), or zero income, as trust suffered loss?

Also please guide, if the trust is unregistered, then which ITR form (ITR 5 or ITR 7) will be use for income tax return.


Please guide as soon as possible.
Thanks & Regards

Sir, My friend is getting share of profit from firm in the FY 2018-2019. Whether he can adopt sec 44AD.

He also have business income , for which he file itr under presumptive scheme.

I had opened a Capital Gain Account Scheme account in jul 2015. ITR2 was filed and exemption availed under section 54. The entire amount from the account was utilised to build a house within the stipulated 3 years. I filed ITR1 in july 2018 which was accepted by the IT dept. However, I failed to close the account. The Capital Gains Account Scheme account is still open with a nominal amount in it.

What is the last date to close this account?
If I approach the AO now for the closure of this account, will there be any penalty?
Does failure to close the account mean that I could lose the exemption under section 54?

When this rebate is applicabel from because in gazzete notification it is mentioned that it is applicable from april2020.i.e 12500

Greetings.
My company is importing RM and exporting FG to outside the Indian territories. the term of delivery in both the case is having "CIF" basis only.
First of all, can in case of "CIF" delivery term basis we can account the export as sale on the same day once the invoice generated without the shipment and shipment will reach to the destination port after 2 months with the invoice and other document related to export.

And in case of import our company can account the invoice as shipment in transit & payable liability once it's generate at Importer premises without shipment, the shipment for the same will received after 2 months.
and delivery of the good will receive after two month only

Sir,

I have following details in GST Annual Return, Please clarify

1) Purchaser shown Input wrongly in Oct 2017 return and amended in Dec 2017 with original value both showing in GSTR 2A how to take amended value in GST Annual in which column.

2) in 3B Return one purchase value Fy 2017-18 not taken and but it is showing in GSTR 2A and the same ITC taken in FY 2018-19 3B Return how to show the ITC Value in which column in GST Annual Return

Thanking you

We have formed an association to maintain various services of our campus. We have elevators in our building and want to have annual service contract with the suppliers. It is around Rs. 60000 for one lift. Our association is not registered. Are we supposed to deduct a percentage of GST being charged for the contract? We don't have PAN and GST number for our association.

Sir
give me a format for noc letter regarding resignation of one partner from partnership firm and he had no objection if remaining partners are continuing the firm"