Dear Friends,
As per model GST Law, What should be tax rate for Packing , insurance , freight charges in invoice, in case invoice contains multiple materials with different tax rate as per applicable HSN codes.

What are stand by assets which are allowed dep even thought not put two use as per CIT V/S SOUTHERN PETROCHEMICALS IND LTD (MADRAS)

private limited company can compulsory for appointment a company secretary if paid up share capital is more than 8 cr

Hai,

I heard that one of my ex-client had filed income tax return normally without tax audit. However his turnover is Rs.98 lakhs and showed profit in his profit & loss account as Rs.2,40,000/- which is within the basic exemption in the A.Y.2015-16. Here he filed his return by showing his profit as just 2.45% by dissatisfying the Sec.44 AD (profit less than 8%). So he has to audit his books accounts as per Sec. 44AB but he can't. I confused by seeing that his return was processed by the assessing officer and he received intimation letter for processing the return. Is the A.O correct in processing the return so?

Please assist me in this regard.

Whether passing of contra entry is mandatory in case of transfer of money from one bank account to another bank account or we can pass a payment voucher in place of passing contra entry?

Definition of PROFESSION is an inclusive one U/s 2(36). A makeup artist & Beautician wants to file his income tax returns under the scheme of presumptive tax under section 44AD.

Query : Whether Section 44 AD will apply or Section 44 ADA ? for an Makeup artist & beautician

The income tax return for the financial year 2015-16 (relevant assessment year 2016-17) can be filed up to 31st march 2018. Is there any penalty provision is applicable, if return is not filed before 31st march 2017.

my daughter is a teacher in Govt school. she has paid 50000 by pay order to IGNOU, a university for further education. is she entitled for any claim in Income tax. she has paid this amount from her salary account through draft.

Hi,

1.My Question is Indivdual is A/c Transfer Rs. 15 Lakh to her spouse as a gift. what is Tax liabilties in both??

Son Gifted Money through A/c Transfer. what is tax libitiles in both??

Case1
Date of invoice is 24/10/2016
Date of payment is 31/12/2016
Date of entry in books31/12/2016

Case2
Date of invoice is 24/10/2016
Invoice received on 15/11/2016
Date of payment is 31/12/2016
Date of entry in books31/12/2016

When should we deduct TDS in both cases?