I have a salary income from my employer. Also I have an consulting income (which is with permission of employer).
I pay GST on consulting income.

While I pay tax at normal rates for my salary income, can I avail benefits of Presumptive Taxation Scheme under Section 44ADA of the Income Tax Act for Consulting Income ?

Please advise. Thank you.

Dear All,
Pls clarify what is the threshold limit for Tds deduction u/s 194A,

Also clarify we have taken business loan from Tata capital financial services ltd. Whether TDS is to be deduct on interest paid with EMI

Thanks
ASAP

Can anyone please send me the No Objection Certificate from Principal for AICITSS -MCS Course?

How is adhoc allowance calculated in salary... Please help me out for this

DEAR Team Member,

We are Exporter & we have purchase Old machinery to run our factory. some of machines are more than five year old.

Requesting you to please share your best views on following quarry :-

1) As per GST Rules, We have to claim GST input tax Credit on caplital goods in 60 Month (5 years) but in our case some of our machies are already 5 year old, should we claim full credit or claim input credit/60 Month ?

2) should we claim Input Tax Credit full in one year or 1/5

3) How to show in gstr - 3b :- All other ITC - Should we show full input tax credit amount or input tax credit/60
(Example - Input Tax Credir - 100)
:- ITC Reversed : As per rules 42 & 43 - Should we reverse input tax credit balance
pending for 4 years ((Example - Input Tax Credit - 80)

Please share your valuable feedback at the earliest.

Residential house sold for Rs.21,00,000/-
Purchaser taken loan from Canfin.
Advance paid through cheque Rs.6,00,000/- paid on 10.03.2018
As per Bank procedure cheque for Rs.15,00,000/- prepared on 22.03.2018.
But given after hand over of documents on 10.04.2018 and cleared on 12.04.2018.
Registration done on 22.03.2018.
In this case capital gain consideration can be taken in FY 2018-19.

Dear Experts,
We are charging Freight from our customer which is also mention in Invoice. Pls clarify :- assume if goods sold with 5% GST slab then whether Freight also will be charged by 5% or 18%

Thanks & Regards
Ankur Jeswani

Hello dear expertsSold a house 50 percent amount received in last year and 50 percent amount received in current year and same for the expenses incurred on it and registry also done in current year. So my question is in which year have to calculate capital gain

I have got my clients itr v manually signed by them and sent the physical copy through speed post 10 days ago. But I keep getting mail of non submission of itr. What can be done regarding this issue. Kindly guide.

Hi,
I paid Rs 102360 as Stamp Duty and Rs 17071 as Registration Fee for the purchase of a new residential flat on 07-MAR-2018. I want to claim the total of Rs 119431 as a Deduction in FY 2017-18 (AY 2018-19).
I will use Form ITR-2 to file my tax return.
I have the following queries:
Q1. Is it Correct that I can show the deduction amount of Rs 119431 in ‘SCHEDULE VI-A’ of form ITR-2 ?
Q2. In Schedule VI-A, against WHICH of the following sections do I have to show the deduction amount of Rs 119431 ?
a. Section 80C
b. Section 80CCC
c. Section 80CCD(1)
d. Section 80CCD(1B)
e. Section 80CCD(2)
f. Section 80CCG

Regards,
Snehashish