one of my client is a chemist drugist retailer and was a normal tax payer for the period july to december 2017. He registerd as composite dealer from 1st jan 2018. he has not yet filed his gstr4. His yearly turnover is around 21lac.

My query is whether details of purchase is required to be given in gstr4 since they dont get ITC. Also, what will be his liability for late fee and whether switching to composite dealer beneficial to him?

An assessee bought a House Property in 1994. He wants the sell the same now. In order to Computer the Long Term Capital Gain the assessee can take indexation benefit by taking Cost of Acquisition as Purchase price or FMV as on 01.04.2001.

How can one arrive at FMV as on 01.04.2001? How can one prove that X amount was the FMV as on 01.04.2001 in case Tax Officials ask the same?

Dear All
There was a minor amount Rs. 20000 as loss from house property. In ITR 2, this loss was not shown separately but salary income( in salary schedule) was reduced to that extent. There was not tax evasion , tax had already been deducted by the employer in March.

Now notice under section 143 a for mismatch of salary income in return and 26AS.

If I correct it by revising return, will I get further notice for explanation. What is other way out.
Please guide and help.
Regards
Puran

dear sir while filing itr - 4 online as per income tax site in such case whether detailes of assets and libilities are required to be filed.where return filed u/s 44ad

DEAR SIR MAY CLIENTS HAS CASH SALE OF RS 500000 IN CASH BUT HE HAS GST NO ALSO BUT HE HAS NOT BEEN DEALING IN GST BILL.WHETHER ONLY GST NO REPORTED IN IT RETURN.

I have filed ITR-7 for A.Y. 2017-18 for an Employee's Provident Fund Trust in which I have also claimed refund of TDS deduction . Now, I have got a notice from Income Tax Department that ITR was defective and provide for response. In response, they have asked why I have not claimed exemptions u/s 11 or clauses of Section 10 or Section 13A or Section 13B in Total Income. Whereas This trust is eligible for exemption u/s 10(25) of Income Tax Act, 1961. What should I do now???

Dear Expert,

While filing GSTR-3B for the month of September-2017 sales figure was over reported and in the month of December-2017 ITC was excess claimed. As per earlier circular of CBDT they said the any error in GSTR- 3B has to be rectified through GSTR-1 & 2 Only.

Now I find another circular issued on 29.12.2017 In this circular they allow to make adjustment in figures in next month(s) return.

Now my query is whether can I make adjustment in the April-2018 GSTR-3B return (which relates to previous year) and deposit the same with interest.

Hi,
kindly i request to you for a entry, how to capitalize of expenses.

we have a godown on rent. godown owner not registered under gst. is there rcm to be paid by us on godown rent . if applicable then what is rate of rcm.

Please guide me on, whether GST is applicable to Employees Credit Co-Operative Society, if Taxable Services are less than 1,00,000 but Exempt services are above 20,00,000???