Sir I am transporter co.i have purchased a car and tcs is collecting same at the time.i have filed in previous 2 years itr4 form,but now for claiming of tcs amount which itr form I should have to file for tcs refund and if you suggest to opt me a itr3 form wheather I have to shown in the dep. Chart coloumn also or not kindly reply me

Hi sir,

In Sep 2018, I had sold a farm that I had inherited through my grandfather. It fulfills the criteria of being a 'Rural Agriculture Land' as per the Section 2(14) in The Income- Tax Act, 1961. So I am not liable to pay any long term capital gain tax. So, can you please guide me what all documents will I need to furnish to prove that the land which I sold was a rural agricultural land and not an urban agriculture land. Thanks in advance.

I had Invested Rs 25000/- in Tata Capital Financial Services NCD on 06.03.2014 under cumulative option.
Every financial year I gets interest certificate for the accrued interest about Rs. 3565/-. This interest I am not getting in my bank account but it is accumulated in my Tata NCD account as I have opted for cumulative option.

This Rs 3565/- I had showed as an Income in my Income tax return in each last four financial year till date.

Now this NCD is matured an I got Rs. 41175/- on 05.03.2019.

My initial investment was Rs 25000/- and received Rs 41175/-. Thus from 06.03.2014 to 05.03.2019 for five years I got interest of Rs 16175/-. (41175 - 25000 = 16175)

During previous four years I have showed interest income Rs. 3565/- every year in my income tax return.
Thus 3565 X 4 = 14260
Total interest I got is 16175
Therefore 16175 - 14260 = 1915.

What I understand is that I have to show interest income of Rs 1915 in this financial year 2018-19 income tax return.

Is am I right ? Then which interest income I have to show in my this year income tax return for F.Y.2018-19 (A.Y.2019-20)

Please advise. I am very much confused. Being a technocrat, account is not my cup of tea, so I request you to please respond.

As per GST authorities, GST credit on the services which are exclusively used by Head office (Maharashtra) cannot be distributed among factories outside Maharashtra as input service distribution. e.g. Rent of HO, security services at HO, printing and stationery etc. According to them, these credits have to be distributed only to Maharashtra normal registration. Since there is no activity in Maharashtra, we used to distribute these credits to factories in sales ratio earlier to other factories outside Maharashtra. Is the stand taken by authorities correct?

I have purchased carry bags to put customers items in it. Under which head should this expense lie in the book of accounts?

I HAVE COMPANIES HAVING UNSECURED LOAN FROM DIRECTORS & RELATIVES AS ON 22.1.2019. WHETHER REQUIRED TO FILE DPT-3 . AS LOAN FROM DIRECTOR & RELATIVES NOT COVERED UNDER DEPOSIT RULE AND EXEMPTED UNDER SECTION 73 AND DEPOSIT RULE 

Can I sell my textile goods like cotton bedsheets, shirts at Rs1049 including taxes at GST Rate of 5%?

Regards

Shubham

8766527336

WE HAVE PAID HUGE AMOUNT TOWARDS LOAN PROCESSING CHARGES
TO BANK. SAID BANK GOVERNING NETHERLAND COUNTRY BY-LAWS.
THIS BANK SITUATED IN MAHARASHTRA.
THE BANK CHARGED GST ON PROCESSING CHARGES.
THE SAID PROCESSING CHARGES PAID FOR AVAILING HUGE AMOUNT OF
TERM LOAN.
MY QUESTION - IS WE ARE LIABLE TO PAY TDS ON PROCESSING CHARGES

Dear Members,

Please give solution to the following

Company has following profit /loss as per books

Rupees In lakhs
profit /(Loss) depreciation Total
2010-11 32 2 30
2011-12 42 2 40
2013-14 (6) 2 (8)
2014-15 (3) 2 (5)
2015-16 20 2 18

1) In the above case how much is the brought forward loss & unabsorbed depreciation for the year 2015-16 for MAT Calculation?

if brought forward loss is 20 lakhs & unabsorbed depreciation (UBD) is 10lakhs in previous year & UBD 10 lakhs is fully utilized in the current year as per MAT provision .

2) in this case how much is the loss & UBD can we carry forward in next year ?

please give the explanation in detail

Thanks in advance

Some Invoices of F Y 17-18 were uploaded in F Y 18-19 on GST Portal

Now if I correct the error by amending invoices with F Y 17-18 dates

How will the liability towards changed invoices be settled ?

GST on these invoices is paid in F Y 18-19