Mr.X land was acquired during the fy 2000-01. For which encansed compensation given in FY 2015-16 after deduction of TDS. But the assessee not having knowledge of TDS he cannot claim it. But Form 16A issued by the acquirer on 14/4/2018 by signing and date is printed as 14/12/2018. Whether it is possible to claim refund now.

The Assessee is Professor in IIT & can't take any work without the permission of IIT but due to expertize sometimes IIT allots the o/s consultancy work as well as pvt. sector also approaches the client for tecchnical problem or other consultancy. IIT is not On account of this, the assessee recd. income of Rs. 3591016/- & claim exp. of Rs. 641685/-as expenses on account of consultancy. The A.o. is saying that the professional receipts of assessee exceeds Rs. 10Lacs & since his gross receipts exceeds Rs. 1Cr. Thus he isliable for maintenance of books under sec. 44AA & to getthem audited under Sec. 44 AB. The year of Assessment is 2014-15.
Please Advise for the same.

Hi!
Mr.X is an NRI and doesn't have PAN in India, he wants to purchase property worth Rs.60 lakh, he is having NRO account. TDS is to be deducted on purchase of property. But since he isn't having pan how to proceed with TDS payment and return filing (26QB)?

Dear Sir/Madam,

I have query related GST. I wanted to know whether in case of RCM whether we need to raise any internal invoices for claiming ITC on that particular invoice, and whether we need to show this RCM invoice in GSTR1

As per the notification by MCA the time limit for filing Form NFRA-1 will be 30 days from the date of deployment of this form on the website of Ministry/National Financial Reporting Authority (NFRA) for all bodies corporate governed by the said rule (excluding companies as defined under sub-section (20) of section 2 of the Companies Act, 2013, which are not required to file this Form).
As per section 2(20) - "company" means a company incorporated under this Act or under any previous company law.
However, as per the MCA notification 3 (2) - Every existing body corporate other than a company governed by these rules, shall inform the Authority within thirty days of the commencement of these rules, in Form NFRA-1, the particulars of the auditor as on the date of commencement of these rules.
So Is filling of NFRA-1 form is applicable for Private Company?

Dear Sir,

Greeting for the Day!!!

We are deducting PF of an employee.. Now his basic salary has been increase to Rs. 17500.

Could we discontinue to deduct PF due to basic Salary has crossed thrash hold limit of PF Rs. 15,000.

Please suggest.

Thanks & Regards
Sandeep

DEAR CORPORATE EXPERTS,
In a Company, there were two directors
out of them, one got death.
Now It is required to appoint one director in place of dead person.
Problem is that
DIN of dead person is not updated through DIR3-KYC form,
by which I could not file the form DIR-12 of resignation of dead person
in this case 2 Queries are
1. Can DIN of Dead person get updated through DIR-3-KYC Form
2. Please Suggest me best solution

1. We are in manufacturing of Auto products which are used by various auto industries. For making this Auto Products we have to develop & make Tools/Dies.

2. The sale of Tools/Dies is not included in our main business.

3. We are also exporting the Auto Products.

4. The export party gives us Tool/Dies cost amount in advance separate from regular export sale.

5. We are taking the Input credit on the making of the Tools/Dies.

6. The Tools/Dies physically remains with us as a property of the export party. They are not physically exported outside the country.

7. The export party after the completion of said order (say after 5-10 years) demands the scarp value of the above Tools/Dies.

Our queries are as follows:- 1. Whether we have to consider the sales of Tools/Dies as export sale or treat the whole receipt as indirect income.

2. Are we liable to pay “GST” on the above sale of Tools/Dies? If yes, please give a detail idea as how ?

3. Whether we can show the above tools as our asset and claim the depreciation on the above Tools/Dies

Dear Experts,
A client of mine who has not deposit tax under RCM on freight since the freight amount was below 750/- hence we have not ask the client to deposit the tax under RCM. Now the client has received the summon u/s 70 of CGST act. 2017. However I was present before assessing officer. He said in GST law where it is written that No tax is payable on freight under RCM if freight amount is below 750/- therefore all the members are required to please provide me the relevant reference for the same on urgent basis.

Thanks
ASAP

Hello Everyone,

My company offers me different types of allowances such as telephone, newspaper etc and thus FY has standard Deduction of 40k which includes transport and medical allowances so my question is am I still eligible for allowances which my company offers me.
Thanks in advance