In continuation t my previous query even though I have paid custom duty in the month of aug can I claim the credit in july ad adjust that igst input on imports against liability for the month of july since I have booked purchase In the month of july and paid custom duty In the month of aug

pl advice asap

Can sundry creditors be paid in cash in tax audit case??

We have imported goods in the month of July. But since goods have been cleared in the month of Aug we have paid custom duty in the month of aug and its corresponding igst in the month of aug. Since we have undertaken high sea sales in the month of july itself we have booked purchases in the month of july . will I be able to claim the credit of igst in the month of july or agu . wats the correct month in which I can claim igst credit.

I am buying my second home and wants to take loan from my mother instead of a bank. But i want to pay her monthly interest just like i have to pay the bank. In this scenario, can i claim the tax on rental income for the interest part that i pay to my mother on monthly basis ?
If yes, what kind of loan agreement need to be made with my mother ? I guess, necessary documents need to be produced while claiming the tax on rental income during IT returns

Dear Sir

My father in law had constructed 4 floors and gifted each floor to his 3 daughter's in year 2012 and in one he is himself staying. My wife also the recipient of the floor via gift deed in year 2014. In the year 2018 my wife sold the property in June 2018 at a consideration due to finance requirements .

Kindly advise if the proceeds are taxable as per law since the property was inherited.

If yes what is the way to save tax.

Thanks

Suppose my net profit is 50000 after deducting depreciation of 2% and my net profit ratio is 8%, now while filing of return I have claimed depreciation @10% and my taxable profit goes down to 30000 and my net profit ratio goes below 8%.
Please guide whether my approach is correct. Also please suggest whether there is need to book deferred tax and in this case am I liable to tax audit.

Please guide experts..

Dear Experts

Please help me to know the limit (turnover )of audit for Income tax under 44AB for Business and for presumptive Business and also what is the audit limit for GST , F.Y. 2017-18.


Reds,

I purchased goods from a party in september 2017 and paid full amount by cheque.The party showed sales to me in gst returns.Now I have received letter from gst department to pay input tax credit of referred along with interest.I have already paid to the seller still demand coming.

Sir, How can I reset Income tax (e-filing) login Password without that given four option. because in my case that given option is not helpful/useful for me.

I want to show commission earned as income of huf of which I am karta.can i show to my huf.pl help .