A person has a land & building and this man sells this land & building and he buys another land and construct a building(Flat) for rental purpose. In the above mentioned case wheather Section 54F is applicable ?

left India first time on 23/SEP/2017 175 days for FY2017-18 What will be imapct 1) on ITR FY2017-18 (AY 2018-19) 2) Long term capital gain during FY 2017-18 on sale of equity shares. Which rule will apply. Person has stayed in India for 182 days or more during the concerned F.Y.; or Person has stayed for 60 days or more during the concerned F.Y. and a total of 365 days or more during 4 years immediately prior to concerned

REPLY RECEIVED
1.You left India for employment the rule Person has stayed in India for 182 days or more during the concerned F.Y. Will apply. You will be non resident for fy 2017-18. Your foreign income is not taxable in India.
2 Long term capital gains on shares will be taxable at 20% as you are non resident.

Addendum:
If I return India for 25 days in January 2018 so
I will be in India for 175+25=200 days than what will be the status?

Hi Friends,

As you are aware that, in Service Tax Regime, Service tax on RCM basis was payable after making payment of your vendor within 3 months and you could claim Cenvat Credit after making payment of Service tax on RCM Basis within 3 months.

But in GST regime it is same process to pay GST on RCM basis. Means can i pay GST on RCM Basis after making payment to my vendor or not.

I left India first time on 23/SEP/2017 175 days for FY2017-18

What will be imapct
1) on ITR FY2017-18 (AY 2018-19)
2) Long term capital gain during FY 2017-18 on sale of equity shares.

Which rule will apply.
Person has stayed in India for 182 days or more during the concerned F.Y.; or Person has stayed for 60 days or more during the concerned F.Y. and a total of 365 days or more during 4 years immediately prior to concerned F.Y.

I am a professional with a proprietorship business in Management and Software.
1. Have Consultancy income and income from other Sources [FD interest, Rental]
2. Have used ITR4 in the past few years with Balance sheet, etc but no Audit
3. Unfortunately, am filing AY2017-18 income tax returns now in Dec 2017.
4. My profits are lower than 50% of Consultancy income.
5. Have paid all the required taxes during FY2016-17 as advance tax.

I need clarification about:
1. Can I use the New ITR3 for AY2017-18 tax returns ?
2. Under the section 44AB as before ?.. as profits are lower than 50% of Consultancy income.
3. Or do I have to use the 44ADA option ?
4. Is Audit compulsory in this case and what is the procedure for the same ? [considering late filing]
5. Is there a way to get accurate info on this from IT dept ?
Regards and appreciate it.







Can I use

Respected Sir, Madam I purchase Bricks, Sands etc and sales its and i have also OWN Truck(lorry) so I also provided service that is delivered goods at client place so my Question is that how to prepare invoice because my main expenses are Transportation related material cost is very low For Example Material Cost Rs.100 ad Transportation Cost Rs. 500 so
1) Can I issue Single Bill for Material and transportation cost ? is yes how to prepare Invoice
2) Whether i am GTA or not ?

Hi sir,

If i have the same person as sundry debtors as well as creditor. Eg. X is providing transportation service to Y & Y is providing CHA service to X. so For X, Y account will show both credit & debit balance. Now my question is On X account Y need to pay Rs.15L, X payable to Y is Rs.20L. X is adjsuting their book entry and ready to make payment of Rs.5L to Y. Now Is TDS need to be deducted on Whole 20L or Payable Amt of Rs.5L.

Dear Sir / Ma'am,

There is two NRI persons having rental income in India. Rent receivable per month is Rs. 1,35,000/- and 2,05,000/-.

Is the NRI persons are liable to take registration of GST in India?

If there is a requirement for registration, so is there any cap on the period of registration ? Because the rental income will be received regularly over the years.

Please guide us in the matter.

Dear Experts.,
I'm a accountant in a company. Having accounts knowledge and tally knowledge. In my company staffs and some my friends ask me for file their ITR... I filed their ITR returns with one of my friend's guide...

Can I file the ITR...? In future any problem is to me...?
Can I start a accounts firm and also file Income Tax returns and GST returns...?

Please help to me and advice...

Dear all, I have an query about taxability on compensation received by an individual family member. Case:- Mr.A was hired as a contract labour with ABC ltd(construction co.) for restructuring of roads. while working, Mr A came down under the dumper . family member of Mr.A got compensation for such cause from contractor. Now my question is whether this is taxable in the hands of family members of Mr.A thanking you all and I would be very happy if i can get any supreme court judgment for such case/s a