One of my friends has build a house(1st house) by taking a bank loan of 27,00,000 Rs.in the year F.Y 2015-16.can he claim deduction u/s 80EE.As he paid interest alone in this year Rs 2,52,155.Will he get the deduction u/s 24 upto 2 lacs and remaining 52155 u/s 80EE Restricted to Rs 50000.Please give your suggestion.Thank you.

I served four years in a company and my service ceased in May 2017. Subsequently, I claimed and received my accumulated EPF after deducting TDS by PF commission. Thereafter, I am relocated to USA for studies.
I have become NRI in the FY 2017-18, and I will submit my return for the AY: 2018-19 in ITR 2-2018.

My only concern is where shall I show my EPF withdrawal/ earning in ITR 2-2018.
Or, in which page/ schedule of ITR 2-2018, my EPF earning be mentioned in my return.

Seek your clarification.
Thanks and regards,

JK Bhattacharya.

Turnover below 2 cortes net profit below 8%books of accounts maintained. Kindly clarify,whether 44ab audit applicable
If so applicable what is the time limit.and the procedures applicable for the same.kindly clarify the same.
With regards
Ca.p.shangar

An assessee takes a car loan from the bank. Car is bought in the name of some other party and the installments and interest is also paid by that party only. What will be the tax implication for assessee who gets the loan amount in his account?

Hello dear Expert If A company till To last year in audit but now this year which is not aggregate turnover for audit then need to maintain gross profit or net profit ration and there individual firm fixed asset can take depreciation

How to put figures in GSTR-3B when Sales return is more than Sales figure?
E.G. Sales For May-18 = Rs.1000
Sales For June-18= Rs. 200
Sales Return June-18 (From The sale Made in May-18= Rs.450 & June-18 = Rs. 50) = Rs. 500.

Formula used to put a figure in Outward supply under GST says to Put Net Figure of sale i.e. sales-sales return but in this type of case sales becomes negative because of high sales return of previous month.
The main issue is no Negative Figure can be entered into GSTR-3B (Table 3.1).


Any suggestion???
Plz...

Sir,
Surprising this has been third time waybill has been generated by using my GSTIN NO .Though i have not issue,am quite surprise how is this possible transporter has been using my GSTN no to deliver goods to other part.
So what should i do ,i got message in mobile eway bill has been generated.Thought i have not.

Sir,
I filed my ITR and claim a refund which was admitted by Income tax department by the way of intimation u/s 143(1) on dated 16-02-2018, but till date and time the said refund has not been credited to my bank account..further in my login account maintained at income tax e-filing website, status of my above e-filing is shown as "Return Processed refund determined and send out to refund banker".....I called to refund banker, where they told me that no any refund voucher has come to me from income tax department to credit your refund....then i called to CPC Bangalore, where they told me that your refund is under process and the same will be credited to you very shortly...but i feel very harassed that after passage of 4 months of order u/s 143(1) the refund is not credited to my bank account, which was generally required 2 to 3 days from date of order u/s 143(1).....my said refund is very short amount and does not require much more consideration upon it......it was below than Rs. 50K........please guide me that what to do next to get my refund as the income tax department doesn't ready to hear anything and the same message as stated above will be send on every grievance lodged by me....

A person joined for single premium life Insurance policy. He paid Rs 500,000 as initial premium and on maturity 800,000 received.

Insurance company deducted TDS on Receipts at the maturity time . is it Correct.

What is the taxability of maturity amount received on Life insurance policies

GST Registered person fails to raise invoice for RENT Receipt from 1st July,2017 to April,2018. Can he now raise invoice for the omitted rent amount on 19/06/2018 and pay the output tax now and interest @18% p.a. Whether any Penalty is liable?
Pl. give your opinion as early as possible. Thanks in advance.