Sir, One of my friend received compensation on account of Motor Accident... Is compensation received from Insurance company on Motor Accident is taxable? If yes, what are the tax implications ? Under which head, thease are taxable? Can we claim TDS in respect of that ? He is earning income from Salary and also have business income

A partnership firm newly commenced during may 2017 whose Turnover is 10 laks during fy 17-18 and after all expenditures and partners remuneration (except depreciation) there is a net loss. Is Tax audit applicable ? If not under what section we have to file IT return ?

Hello freinds...

Hi have 2 house old one and new one purchased 9 month ago Which is finance by bank of baroda housing loan,
My query is i want to sell my old house(purchase 10 year back) and want to utilised sale proceeds to repay the Housing loan
Will i get exemption u/s section 54 as im utilising the amount of capital gain arising from sale proceeds of residential property for acquaring new house property

is fee paid to an actor or actress is liable under tds or under what criteria does it becomes not liable to tds for actor or actress

One of my client have more than 14 Buses used to Carry Passenger and Registered under GST in Aug 2017. Turnover in F.Y: 2017-18 is 56.00 Lakh, Is it neccesary to go for Audit, or Filed I.Tax Return on presumptive U/s 44AD.

Hi,

Director is getting remuneration (salary) from Company.

Whether he should file ITR 1 ?

Regards,
Manish

EXAMPLE:
A-- SUPPLIER
B- BUYER

A issued credit note to B for discount. B wants to reverse input tax already claimed. Where B wants to make entry in GSTR 3 B (WHICH COLUMN )and GSTR1 9WHICH COLUMN)

i think , it will not effect GSTR1 any column.

Thanks for immediate reply

Hii Please Tell me Tax Treatment of US Salary Received by Resident and ordinary resident Person of Indian.
Adjusted Gross Income $ 19,055.00
Taxable Income $ 8,655.00
Total Tax $ 868.00
(Federal Tax Return) State Tax Paid in USA
Taxable Income $ 10,305.00
Total Tax $ 567.00
Total Payments/Credits $ 924.00
Pls. Tell me how this amount shown as tax return in India

We are Pvt Ltd Company having profit before income tax is 6 Cr and after income tax is 4.5 cr whether we are fall in Corporate social responsibility or not.

Dear Experts,

We pay the RCM on GTA @5%, where as In Invoices we are charging 18% based on SAC code 996711 as outward freight. so far from July-2017 to till date we have not claimed Input credit for the RCM paid on GTA.
But now auditors are telling to claim input credit since we are not service provider or GTA. is it valid ???.

your valuable feedback is awaited.