Sir, in 2015 October I have purchased Lorry(heavy goods carrying vehicle) which was used by me for transport business, I have received 15,00,000 for these for Fy-16-17,
Can I opt for 44AE ?
How can I disclose income?

later I have soled such vehicle for Rs 800,000 in OCT 2017, it's purchase price is 11,00,000

How to calculate the profit on sale of such Vehicle?
Does income earned on such sale is taxable under normal rate?
Does CAPITAL GAINS attracts? If yes
Short term / Long term

Pleas help me sir,
Thanks in advance

Hello,
My father sold property for 2000000 in 2017 and it was purchased in 1996 for 260000 so how capital gain taxes will be calculated as the year is changed from 1981 to 2001 and how to get the property evaluated. What is the approx. Capital gain

One employees received voluntary ex gratia from employer on termination of his employment.
Employer has deducted TDS on this amount.
There are various high court decision about non taxability of this voluntary ex gratia payment.
However, since employer has deducted TDS, employee wants to claim the same as refund from Income Tax.
How he has to present the same in IT return to get this refund.
Point to be noted is that the Form 16 issued employer has this ex gratia payment included in salary income
Please advise.
Regard

Dear sir First time I filed income tax return for A. Y. 2017-18 intimation u/s 143(1) also received.Can i file My income tax return for A.Y.. 2016-17 today. Is there any penalty for the same.

what is the last date for revising the income tax returns filed for the ay 2017-18 ( FY 2016-17 ) ? Is it 31st march, 2018 or is it 31st March, 2019 ?.

Case study:

A: Non resident, citizen of India. Settled in UK for past 8 years and resident of UK(but not citizen of UK). 34 years old
B: Resident and citizen of India. 36 years old


If A wins 100 crores in UK lottery and pays mandatory tax of 40%, and shares his 50% income with his Indian friend B (i.e., 50% of 60 crores after UK tax deduction)= 30 crores. The transfer of money is made from UK account of A to Indian bank account of B.

Query:
1) Now does B has to pay 30% slab rate on 30 crores again, though it has already suffered tax in UK?
2) If B is subject to tax again, what are the possible deductions and exemption he can claim.
3) If A brings money to India and deposits in his Indian bank account and transfers to B, can the case bring any change and possible deductions in B's 30 crores.

Dear Expert
We are going to bill certain goods as a lot in single invoice and now there is some short falls. The short falls will be supplied to the customer after one month. Now we are raising the invoice for full value (including short supply) and going to pay the GST. Kindly suggest while supplying the short supplied items what are the documents required. Movement is interstate . Kindly suggest
With Regards,
R.Krishnakumar

Hello Team CA Club,

My query is regarding RCM in case of rent paid.
I am registered dealer and paying rent of Rs. 1200/- per month for commercial use, to an URD. As RCM is suspended from 13th Oct till 31st March 2018, Do I need to pay GST on behalf of owner (as he is URD) from July 17 to 12th Oct 2017. As, I have not paid tax for the said period, what should I do?

one of client has notary public person nd earn income form his profession. he has also earn income form agriculture now which itr should i filed or what will be nature of business code ??

Dear Experts,

In a Public Limited Company, one of the director have given funds from his personal account and some fund from his OPC.
1. What will be the procedure to cope up with these transaction?
2. Will it be taken as a Loan from Director? and what effect will be there on OPC, as the amount has been transfer from that account.