One of My client having salary income in the field of Engineering proficiency deposit cash of ₹12 Lang approx to her daughter account who is 8 year old... And after making deposit he make FD in her daughter name... now the point is How to bifurcate the Cash deposit so that in future no problem arise from department.Source of cash deposit Engineering income of the client

I had taken a Home Loan in Dec '2013 for buying a Flat on CLP Plan. I have been given possession of the Flat in March '2017.
As per Section-24, Interest that has been paid before the completion of construction should be aggregated and the whole aggregated amount shall be allowed as tax deduction in 5 equal installments for 5 successive Financial Years starting from the year in which the construction has been completed.
In last 2 years, the Interest on my Home Loan was more than Rs. 2 lacs per annum. Is there any annual limit on the Pre-Contruction Period Interest on Home Loans for claiming deduction under Section-24? Or I have to just add the full Interests paid by me in the last 4 Financial Years and divide the total in 5 equal instalments for getting Tax deduction.

Hello experts,

Can a resident individual own 100% shares of a C corporation US based LLC without formalities of ODI?

The individual won't remit a single dollar but would receive money in the capacity as professional for providing services to this LLC owned by him.

Best regards
Shikha

Hi,

So, I have been searching for SAC for Ecommerce company acting as an agglomerator for online tradings of goods( for instance, service provided by Flipkart). However, I could not locate any specific code for such a service. Could anyone suggest the GST SAC (code) for such a service description ( providing portal for online selling of goods).

As per my understanding such an Ecommerce operator is only acting as a mediator to collect tax from supplier and remit to the Government; as the ultimate assessee would be supplier. Hence, no specific code for one such agglomeration service.

Please correct me, if I am going wrong with reasoning. Also, I assume SAC code would be mandatory for registration.


Thanks!

i filed my return of income for the assessment year 2016-2017 in ITR-4, this is the case of transport vehicle for hire basis to government department so I opted 44AE so I haven't maintained books of account and submit the return as per the monthly hire basis as per the income tax act, CPC Is showing income tax return as defective return they are asking about books of account I submit the income in the column of 44AE and not selected the 44AA, can I file the return in 4S as a rectification return or not, please suggest me, waiting for your early compliance and oblige.

I want to know unregistered cloth dealers hold stock (Inter state Purchases) can opt Composition Scheme under GST.
Second is, if such purchases exempt from VAT than what tax rate levy on such stock (Composition rate or normal rate)
RCM levy or not on such Stock.
Details of such stock if not required to disclosed under composition scheme than what happend.

plz provide such detail.

we got income from interest other than interest on securities credited directly to my bank account after deducted TDS for the year ending 2016-17. but TDS deducted amount shown in 1st quarter in FY2017-18. shall we shown income in FY 2016-17. if shown wthat abt TDS ? in which year we need to claim TDS for AY 2017-18 or AY 2018-19??? please give us clarification.

Hello,

I am a small business owner. I had purchased commercial property in the name of my wife and take a loan from bank. Loan is jointly taken in the name of mine and my wife. Loan is repaid from my proprietary concern.
Property is used by my proprietary firm.

Should I have to pay rent to my wife?

What will be the implication of GST?

Interest paid to bank should be eligible for deduction?

Please guide me.

ex. invoice issued 990 on 1.10.17 payment received 1000 on 15.10.17 excess payment = 10 now next month invoice issued 990 on 1.11.17 payment received 980 on 15.11.17 my question is that what will be the time of supply for RS 10----1.10.17. or 1.11.17??? which invoice date does proviso to section 12(2) refers????

Dear Sir,   Greetings from Ocean Interiors…!!! With reference to the above subject, we would like to introduce ourselves as M/s.Ocean Interiors (P) Limited and are in this industry for more than two decades. We are allied to businesses like Infra, Civil Construction & Turnkey Fit-outs.  As of GST is concerned, we are facing day to day issues on the below aspects for which we need better clarity and solution to proceed further. With respect to SEZ projects,  ·         Does our client need to have separate GST registration for having SEZ unit? ·         Do we need to provide/submit any bond or letter of undertaking to the Government? ·         For getting exemption, do we still need to issue ARE-1 form to our supplier? ·         What are the documents we have/need to maintain? ·         We understand that, we can avail Input Tax Credit; request your inputs on the same. Your clarification in this regard will be very much valuable to us.