Hi,

I'm a service provider providing freelance game development service to Valve Inc.(Foreign Entity). The amount (Less than 20 Lakh) is received in foreign currency as a % of sales of the game i work for.
Now my question is
Am i liable for GST registration and payment of GST on RCM basis. Or is it exempt under export of service

Thanks

dear sir i has cash balance for 1500000 then i can purchase machine in of rs 500000 cash or not.

Question:-
X limited commenced operations on 01 .04.2013
Following are some of the details prepared by accountant

Proposed Equity Dividend 40,000
Preference Dividend paid on preference capital at 15 % 15,000
Interest paid on loan borrowed 20,000
Selling & Distribution Expenses 30,000
Gross Profit Ratio 30% on sales
Depreciation 5% on Sales
Fixed Assets turnover ratio (based on Net Fixed Assets) 2 Times
Interest Coverage Ratio 6 Times
Debt Service Coverage ratio 2.75 times
Debtor Turnover Ratio 4 Times
Creditors turnover ratio (purchase and trading expenses) 6 times
Stock Turnover Ratio 5 times

Notes:
A Equity Dividend is proposed at 20 % of equity capital
B Depreciation does not form part of cost of Goods sold
C The loan borrowed on 01.10.2013. The first installment including interest was paid on 31.03.14
The loan was to be paid in ten semiannual installments.
D Income Tax @ 30%

You are required to prepare for the year ended 31.03.2014
a) The profit & loss account
b) Balance Sheet
c) Cash Flow Statement.

Hi,

I am re-posting this question again as I had typed in WRONG YEARs in my previous question. I have corrected the YEARs now in the following question:

I sold my old Flat in Oct 2017 and my taxable Capital Gain from the sale is Rs 6.69 Lakhs.

I have purchased a new Flat in Feb 2018 for Rs 11 Lakhs. I will therefore be claiming Section 54 tax exemption on the entire capital gains since the cost of the new flat is more than the capital gain.
Also I paid stamp duty and registration fees of around Rs 1.21 Lakhs and duly registered the new flat in my name in Mar 2018.

My question is whether I can claim tax deduction under section 80C on the Rs 1.21 Lakhs I paid as stamp duty and registration fees apart from the section 54 tax exemption ?
(Please note that I have taxable Income from Other Sources for the same financial year i.e. FY 2017-18). I do not need to include the stamp duty in the section 54 tax exemption as the cost of the new flat itself exceeds the capital gains.

Regards,
Snehashish

Sir/Madam,

I am filed income tax return two years continue (Ay 2016-17 and 2017-18), My income sources is tuition fee. i filed ITR3 and 4. but i am not fil balance sheet item . so department notice defective return communication u/s 139(9) from the Income Tax Department. Taxpayer having income under the head “Profits and gains of Business or Profession” but has not filled Balance Sheet and Profit and Loss Account as required in explanation (d) under section139(9) read with section 44AA.

But i am only provide home tuition. i have not any maintain records . i only teaching few children ,and not running tuition properly organised way . so what can i reply this notice.


Last day reply is 18 april . so any one help me

Sir,
I am a senior citizen. On behalf of my son ( new taxpayer by that time), I want your valuable Advice clearly regarding his unknown mistake in Challan assessment year during online e-filing tax as " self assessment tax". Wrongly mentioned (2015-16ay) instead of (2016-17ay) & tax was deposited.
After receiving Intimation143(1) from CPC banglore, he again deposited tax thro' challan(2016-17ay) with interest.
He has also deposited tax for (2017-18ay) online in which previous challan amount was shown as advance tax deposited & requested for refund. No refund made.
Now in FEB.2018 a letter to concerned A.O. was written for correction in assessment year(2015-16) as (2016-17ay). A.O. corrected accordingly(presently in 26as of 2016-17ay).
But this time he again made a mistake in Application. Assessment year should have been (2017-18) as amount has been shown in Last assessment year(2017-18).
On 5th April 2018, again a Regret cum Re-rectification letter for A.Y.(2016-17) to A.Y.(2017-18) has been sent by speed post as well as thro' e-mail.
Now I am puzzled,sir. What has to be done for Recovering the Balance amount Shown in 26as of (2016-17ay) as ALL TAXES HAVE BEEN PAID.
No Correction by Concerned A.O. has been till date.
Please help my son as he has understood his mistake.I will be ever grateful to you,Sir/Madam ji. Thanks.

Dear Sir/ Madam,

This is to inform you that in terms of Rule 10 of the Companies (Registration Offices and Fees) Rules, 2014, the
Form SPICe(INC-32), Form SPICe MOA(INC-33), Form SPICe AOA(INC-34) dated 13/04/2018 filed by AVNS TECHNO SOLUTIONS
PRIVATE LIMITED vide SRN G83507988 has been examined and marked as Sent for resubmission with the following
remarks-

Main objects of MOA should be in consonance with the objects approved in RUN and objects in clause 3(b) should be
ancillary to the main objects.

Q: As Per My Knowledge Clause 3(b) is similer for every company & we can change object on clause 3(a). So as query asked by MCA, Can i Fill all three forms ( Spice, AOA & MOA) and re-submit or what ??

sir,
i want to know any composition dealer purchase cement from unregistered dealer and sale to customer then how many tax paid by him 1% or.... ?

If a person has prominently salary income as full time job and aslo commission income to some extent, against which (commission income) TDS has been deducted by commission paying company. My question is which form to use for filing IT returns and can he show commission income in head of income from other source in Form ITR-1? If commission income shown in head income form other source, whether IT dept will match the details with Form 26As and how? Plz guide with detailed purview...

Respected

i have doubts regarding ROC filings

1) for address change: An Existing private limited company is in need of change its address with in local limits, for filing INC-22 It is said that utility bill is mandatory, here premises belongs to company( there is title deed in name of company and it is represented by its managing dirctor) and there is no utility bill right now in the name of company as company new registered office inaugurated one week back, now i have only property tax acknowledgement as proof. and also that property tax payment challan is in name of director, can i use that as utility bill? if yes should i take no objection from director, but here title deed is in name of company , is it ok to take noc from director. please help me regarding this. im very confused

2) a company want to convert its unsecured loan to share capital but at the time of taking loan it didn't passed any special resolution to file mgt-14 and this loan is taken by them in may 2017 which comes under companies act 2013, now is this company eligible to convert its unsecured loan into share capital by passing special resolution,