DEAR EXPERTS
FROM 1ST JULY, UDIN IS MANDATORY FOR ALL ATTESTAIONS ,CERTIFICATES, GST AND TAX AUDIT REPORT. WHETHER UDIN IS MANDATORY WHEN WE SIGN THE BALANCSHEETS FOR NON TAX AUDIT CASES WITH TURNOVER LESS THAN 2 CRORES.

Dear All,
A firm is selling agricultural lands at Hubballi.
This is black soil land and 1-1/2 feet deep we can find that the land is solid, so that it can be fit for construction.

The person who took us for site visit, says he will register the Land on my name after I credit the 5000/- (per month) EMIs to His bank account starting August 2019, which he said he will Whatsapp me his A/c number. This 5000/- I need to pay him for the next 5 years (approx).

He has given the receipt of the said land, and the Non-Judicial agreement paper. I have paid him 25,000/- advance towards Development fee (he says needed for electricity, drainage work, etc).

My first doubt is he says he will register the land on my name after I pay him all the nearly, 60 months EMI.
Says he will take the amount for registration of the land at the cost applicable at that time.

Kindly advise me if this guy (S.S. Developers, Hubballi, karnataka) is a fake one or genuine firm.

a land received as gift from mother -in-law is taxable or

registration charges is rs 79856.
please guide me.

Whether rebate received from credit card company on payments made through the card considered supply under GST. Whether GST needs to be paid on it?

DEAR SIR,
I HAVE PURCHASED 3 HOUSE PROPERTY NEXT TO ONE ANOTHER. AFTERWARDS I HAVE DESTRUCTED PROPERTY AND MERGED THEM INTO ONE PROPERTY FROM MUNICIPALITY. NOW I WANT TO SELL IT. AM I ELIGIBLE TO SECTION 54 EXEMPTION..?

Sir, I am Sr,Citizen and I have received 100 shares from ancestral property.before 20 to 25 years. Due to allotment of bonus every 3-4 years, the market value of shares now become more then 40 to 50 Lakh. I wish to sale 3 lakh value of shares every year . My quaries are as under.
1) Suppose in June-2019 if I sold 1000 shares @ 300= Rs. 300000. Since the cost value is zero to me. So I wish to consider the cost as on 1st Jan-2018 ( as per the last budget amendment) which was also Rs. 300 . So long term capital gain is zero or say very negligible . If their is gain i will pay tax @ 10 % as long term capital gain. Whether my stand is correct ?
2) I have to file income tax return every year? Shares sold 3 Lakh, but capital gain is almost zero in 2019-20. and I have interest income of Rs. 3 lakh which is under taxable limit .
3) MY son says instead of sales of shares in open market, the 1000 shares be transfer to him at market rate, for which he will pay the amount so as to avoid borkerage on purchase and sales . Is it possible ? Then what will be tax impact on me as well as when he will sold the shares in market. The rate at which he will pay amount will be consider his cost of acquizition ? ... SO their some cofusion. I have contacted here some income tax advisor but they are not sure . Since i am not getting pension, I wish to liquidate the entire shares in next 10-15 years. What advise you will give. Please advise me here or send reply to my email id shahkg@rediffmail.com

Respected Seniors,

Request you to please update, is there any exemption in GST to any Govt. dept contractor?
is there any documentary proof of the same. any certificate issued to any individual or local body by GST council to take Exemption from GST ?

If a company has received Loan after 01.04.2014 and the same is outstanding as on 31.03.2019, then will it have to file 2 DPT-3 forms?

Dear Experts,

Does B.com with 54.53% is eligible for direct entry in ca

I am a doctor having some salaried income and some from professional practice. I also have a small income from foreign country as a consultant. I therefore filed ITR 3 in AY 2018-19 as I need to show foreign income in Schedule FSI.
As I do not maintain books of account, I opted for Presumptive Income from Profession (44ADA) and thus selected the No Accounts Case in ITR 3 (General Section).

On Balance Sheet page, I filled only sec 6 (No Accounts Case) as follows:
Sundry Debtors = 0
Sundry Creditors = 0
Stock in trade = 0
Cash balance = 0

On Profits and Loss Account page, I filled only sec 53 (ii) for Professions (No Accounts Case) as follows:
Gross Receipts = 900000/-
Gross Profit = 450000/- (i.e 50% of Gross Receipts to show Presumptive Income)
Expenses = 0
Net Profit = 450000/-

The Schedule BP - Computation of Income from Business or Profession thus reflected:
A: From Business or Profession
1: Profit before tax as per profit and loss account (item 45 and 53 of Part A-P and L ) = 450000/-

4. Profit or loss included in 1, which is referred to in section 44AD/44ADA/44AE/44B/44BB/44BBA/44BBB/ 44D/44DA/ Chapter-XII-G/ First Schedule of
Income-tax Act = 450000/-

36. Profits and gains of business or profession deemed to be under -
ii Section 44ADA = 450000/-

37. Net profit or loss from business or profession other than speculative business and specified business (35 + 36xi)) = 450000/-

38. Net Profit or loss from business or profession other than speculative business and specified business,after applying rule 7A, 7B or 8), if applicable (If rule 7A, 7B or 8 is not applicable, enter same
figure as in 37) (If loss take the figure to 2i of item E) = 450000/-

The computation of income page thus reflected:
PART B - TI (Computation of Total Income)
3. Profits and gains from business or profession
i Profit and gains from business other than speculative business and specified business
(A38 of Schedule-BP) (enter nil if loss) = 450000/-

vi Total (3i + 3ii + 3iii + 3iv + 3v) (enter nil if 3vi is a loss) = 450000/-

However, I still received a notice u/s 139(9) with error code 311 that "Taxpayer having income under the head Profits and gains of Business or Profession but has not filled Balance Sheet and P & L Account...".
The probable resolution that the notice mentions is "The Part B of the P & L account and part B of the Balance Sheet (i.e. No Account Case Section) should be entered in the corrected return.."

But as you can see above, i have indeed filled data for both P&L and Balance Sheet under presumptive income by taking 50% of Gross Receipts.
And I have filled all the other sections to show my salary and other income. Still I am getting this notice. Please help.