Following is the our employee computation of income from salary .F.Y.17-18

Salary income 472608
Less -eligible (least) exemption of HRA 20700
salary Income 451908

ADD-Income from saving bank A/C Int. 2000
Total Income 453908

Less Deduction Deduction U/s 80TT 2000

Qualifying Income 451908
Deduction U/s 80c 85846
Deduction U/s 80DD 75000

Total Taxable Income 291062
Income Tax 2053
Less -Rebate U/s 87 A 2053

Income Tax payable 0

You are requested to Pl give your opinion this is correct or any correction
require.

Regards

Rajkumar Gutti

We are in receipt of bill from labour contractor towards supply of labour in factory in Haryana. Since this labour contractor is registered in UP state, he is charging IGST in bill.

Whether this is correct. Please confirm.

shall we close the business before 31st march and surround er gst registration. we are dealing in taxable goods and as on the date there is no stock on hand.
thanks in advance
K.B.NAGESHA RAO
9448826793

Dear All,

Mr. X is a proprietor and has a annual turnover of Rs.100 Lac. He has got his proprietorship firm registered in GST. He is Karta in HUF firm with annual turnover of Rs.15 Lac & his HUF firm isn't registered under GST due to turnover is less than 20 Lac.

Now, I wanna know does there any need to HUF firm to be registered?

Regards

Shoeb

As per Section 139 of Companies Act, 2013, there is mandatory clause requiring rotation of auditors if the borrowings from banks in case of an unlisted public company crosses ₹ 50 crores. However, 3 years is given as transition period for rotation. In one case, the borrowings have crossed ₹ 50 crores only in FY 2016-17 for the first time. Therefore, would an auditor who has been the auditor of the company for the last twenty years be eligible for FY 2017-18 or no ? Would the transitional period of 3 years begin from the date of commencement of Act or from FY 2016-17 ?

Dear sir please tell where i should show unused assets in ITR3

Is over the counter payment of GST allowed? Banks are not accepting the same even for Rs.20/-. Is there any threshold limit for Over The Counter Payment? And for doing so, whether the person paying GST should have account in that Bank. Another issue I have facing is, Many branches of the Nationlised Bank are refusing to pay GST through NEFT/RTGS? Any solution?

How should I report honorarium income after  retirement from my ex-employer  (my designation was "Principal Adviser " and I was drawing salary) in my tax return ? Should it be under salary or other sources or anything else? Is there any condition to be satisfied for it to be called honorarium?

Hon'ble FM in his Budget Speech has withdrawn deduction towards trasnport allowance @ Rs. 19,200/-. However, such withdrawal has not been found in Finance Bill, 2018. Please clarify.

Dear Experts

Assessee sold an old building during the current year. Cost of the building was not known as it was constructed before 20 years by the Assessee.
How to compute the capital gains as the cost of building is not known.

Please Help.