what is income tax rates for domestic companies after recent finance minister announcements regarding revision of the rates applicable to them.

Whether income from LIC commission may be declared u/s. 44ADA in ITR 4 ?

Dear Sir,

We engage lot of vendors for devloping tool for auto parts. Please suggest under what section should I deduct TDS on Proto tool development cost. Should I apply 194C or 194J

Please advise

RCM on renting of motor vehicle w.e.f 01.10.2019, whether this is applicable only on those who take motor vehicle on rent and then further renting that motor vehicle to others (work like intermediary) or self owned owner renting their vehicle? In notification, they have told any person other than a body corporate,
paying central tax at the rate of 2.5% on renting of motor vehicles with input tax credit only of input service in the same line of business.

Kindly clarify...

RCM on renting of motor vehicle w.e.f 01.10.2019, whether this is applicable only on those who take motor vehicle on rent and then further renting that motor vehicle to others (work like intermediary) or self owned owner renting their vehicle? In notification, they have told any person other than a body corporate,
paying central tax at the rate of 2.5% on renting of motor vehicles with input tax credit only of input service in the same line of business.

Kindly clarify...

Dear Expert,
Notification No 22/2019 Centre Tax is issued on 30th September19 & imposed RCM on few services Rental a motor vehicle is one of them. We are in doubt about description in column no 3. No doubts recipients is Body corporate.
What is its meaning?
On What % & when it will be levied?
Kindly brief its conditions laid down in the Notification

Thanks
G Harish

Hello Experts,

I need help on the following.

1) Our Society has accumulated funds by means of Sinking Fund and Repair Fund which are invested in FD with PSU Bank.

2) CHS has earned Interest on those FD and had not filed ITR and how they have done that.

3) CHS has charged to each member under title "Income Tax Charges".

4) I am of the opinion that Income Tax on the interest that is earned by CHS should be deducted from the Interest Income. Kindly educate.

5) If FD is made with Cooperative Bank/s then the Interest Income is not chargeable. Is this correct?

6) If CHS to charge Income Tax to each member then can we suggest to keep the funds in Current Account so no Interest earned and no need for paying Income Tax

7) Can a member of CHS decline to pay towards Sinking Fund and Repair Fund if these two are the factors for investments in FD?

Thank you in advance
Regards

Sir we have wrongly taken output liability under the head IGST and now we want to reverse the same but we are not able to do so because we are not having any interstate sale and consequently no IGST liability in further months and 3B does not allow to enter the negative figures being reversal of output liability So should we take the input under the head IGST in case we are not able to reverse the output liability?

Sir,
There is entry no. 10 for exempt service in notification no. 12/2017 dated 28.06.2017 of CGST Rate. Services provided by way of pure labour contracts of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration of a civil structure or any other original works pertaining to the beneficiary-led individual house construction or enhancement under the Housing for All (Urban) Mission or Pradhan Mantri Awas Yojana.

Assessee (A) is providing pure labour service to main work contractor (B) (who provide work contract service including material to govt. in the scheme of Pradhan Mantri Awas Yojana on 12% GST Rate applicable.)

My query is whether this exemption is available to Sub contractor (A) or not ??.

You are requested to please suggest us.

Sir,

On dated 27/04/2018 i issue a Tax invoice, now in the month of sep 2019 the seller has return me the product.
So in this situation can i issue credit not of last financial year.