Arrear from 2006 to 03-2012 paid by MCL directly to SUPERANNUATION FUND ON 31/03/19.FORM 10E,ANEXURE I SUBMITTED BOTH ONLINE AS WELL AS HARD COPY ALONG WITH ATTESTED COPIES OF TAX RETURNS OF 2006-07 TO 2011-12. I AM GIVEN TO UNDERSTAND UPTO 03/09 THE SEQUENTIAL AMOUNTS PAID ARE TAX EXEMPT AND THEREAFTER U/S 17 (2) (vii) upto 1 lac is tax exempt till 03/2016 and 1.5 lac thereafter per anum. IN JULY THEY SHOWED WHOLE ARREAR AMOUNT OF 412245 ON FORM 26AS TDS AMOUNT OF 3127 (which is same as in annexure I). Now in Aug the Form26As is showing amount paid as 262245 while tax paid remains same. They have sent an unsigned form16B through mail Which shows 262245 as perquisite u/s 17(2) and tds 3127. I have already protested to my finance deptt. and sought appropriate Form 16 part A & part B. Pl tell me whether applying relief u/s 17(2) yearwise on arrear amount while computing relief u/s 89 is correct or not. Pl note in past I never availed relief u/s after 1989.Besides this arrear I do have pension,interest,capital gains,agri income totalling around 967956.Admissible deductions u/80C,G,TTB would be 248500.If Sec 89 relief as per annexure I is allowed my tax outgo would be far lesser.So pl tell whether both sec 89 and sec 17(2) (vii) can be apllied simultaneously on arrears remitted directly to Approoved superannuation fund.
AWAITING REPLY
RAJENDRA RAO

I have made a payment of Rupees 15,000 in cash to A single person, in a single day but for different invoices 1st of rupees 8,000 and 2nd for rupees 7,000. and does not covered under rule 6DD.
Is rupees 15,000 expenditure allowed ?
Please mention section/rule/case law....

What will be the consequences
As per income tax and as per company act

if Dividend is paid in private company.. more than 1/10 of p.y paid up cap and free reserves and Even dividend tax is been paid on that...

As it is a NPO registered under XXI of 1860
1. What would be the value of building
2. How it reflect in R/P, I/C and Balance Sheet.

Hi , company and it's another wholly unit have same pan card, and filling the consolidate return, where profit & loss , asset liabilities of the wholly owned unit is mentioned. Wholly owned unit have trade license and it is mentioned wholly unit &the original company name. Whether it possible that company &wholly owned unit have one pancard & file one consolidated return?

If a Company Shareholder died and according to his will his shares will be distributed in his two daughter in equal proportion.
In that Case, we will Cancel the Old Share Certificate and issue two share Certificates in favour of his two daughter under the same distinctive numbers ??

share of plot sold at native place town area Rs 2,00,000/- (my 1/4th share) in 2018 2019
whether atract LTCG tax and how much tax i have to pay & how i reflect in ITR Return
land purchased in 1972 @ Rs 9000/-

Sir,

I am running X-ray Center under calibration with a Diagnostic Center of Operative Company. I am not a professional doctor but running business through my salaried staff to providing X-ray service to patient. I provide x-ray service on behalf of diagnostic center they received x-ray fees from patient and pay me on monthly basis after deduction of TDS u/s 194J. In this business I had margin aprox 20-25% only and in this year my receipts is Rs. 22 Lac.

Now some advice to me file ITR us 44ADA and declared income 50%, which is much higher then my net income. If I declare income in 44AD then business code of Diagnostic center 18004 showing error that this code in not applicable for 44AD. If I file it with other service business code with my real margin then due to receipts more then 20 LAC I may get GST department notice (Even GST not applicable on me) to explain why I not pay GST on more then 20LAC receipts.

Now I how can I file my return with my real margin 25% of receipts and without Audit expenses?

Dear All

Some GST assessing officers are not allowing to assessee to adjust SGST liabilities against IGST input Credit.

According to them , IGST input credit can be adjust only against CGST & IGST liabilities & insisting assessee to pay SGST liability by challan.

Is there any circular or notification regarding this update ?

Now , is it possible for assessee to get refund against unutilized IGST input tax , immediately after submission of annual return GSTR-9 ?

Regards

S Mallick

Dear Member,

Please provide the solutions for Lumsum Pension Received by Assessee During the FY 2018-19 for earlier year, as assessee was retired in the FY 2008-09, from FY 2008-09 till FY 2017-18 he was not received any pension due to legal dispute related to the implementation of pension going on, but in the previous financial year he has received pension from the FY 2011-12 to FY 2018-19 as follows

FY Pension Received
2011-12 2,08,541
2012-13 6,10,845
2013-14 6,73,788
2014-15 7,33,188
2015-16 7,76,628
2016-17 8,20,071
2017-18 8,44,899
2018-19 8,11,877
Total 54,79,837/-

and employer was deducted TDS on above Pension received during the FY 2018-19 treating all income of previous financial year 2018-19 Rs.15,98,120/-

so please suggest the tax treatment of Lumsum pension received during the FY 2018-19.
Thanks