Dear Sir,

How to show the total investment in Balance Sheet for AY 2018-19.
Total Investment is 2.35 Crore as on 31.3.2018.
Opening balance of Investment is 1.95 Crore. (MF & Equity Share)
During the year purchase & sold transaction net of amount 40 Lacs.
How to show current investment & non Current investment in balance sheet of Pvt Ltd Company.
Current Investment means transaction during year. Non-Current Investment means no transaction during year or op balance of investment (No Movement in Investment).

Please advise the same in above matter.

Thanks & Regards

NK

Case: A loan is obtained to construct a house property of 4 floors, one floor occupied by the assessee, other three are let out.
can assessee claim deduction under section 24 under both self occupied upto two lakh and balance on let out property?

Can authorized signatory be other than proprietor in GST if we change mobile no and email ID of authorized signatory than we have to add new person other than proprietor so can we add signatory other than proprietor

Hi I am selling a land, the actual consideration is Rs 20 lakhs. The stamp duty value is however Rs 25 lakhs. Can i compute capital gain for Rs 20 lakhs.


Please Guide

Sub: Taxability of USA Lump sum Pension received in India (As Ordinary resident of India).
Facts:
·         Received Lump sum Pension (No Gratuity) from USA ($44,190 = INR 28,33,153) on 03/11/2017. USA did not impose any tax on the lump sum.
·         Was working in USA for Private companies since Aug 2003 – Feb 2015.
·         Came back from USA to India in Feb 2015. Currently I am resident of India (996 days as on Nov 03 2017). I am not a Citizen of USA or a Green card holder. Present age = 41Yrs.
Tax interpretation on Lump sum Pension income.                   
·         As I am Indian citizen, Indian Pension laws are applicable for paying taxes on Global income.
·         Per Indian tax laws, for Non Govt. Employee, the computation of commutation value of pension is as follows:
·         Basic pension per US pension plan = $814 per month for rest of life (After Oct 1 2042..retirement age 65)
·         Date of Birth – Sep 25, 1977
·         Date of VRS – 11 March, 2015. Pension received on 03/11/2017.
·         Commutation factor: 9.145 (35 Years) per Commutation table.
·         Hence given above: Commutation value of pension, if 100 % pension is commuted is $814 * 100% *12 months*9.145 =$89,328 (INR = 58 Lakhs.)
·         Per Indian Tax laws 50% of Commutation value of pension is exempt. Which is equal to 29 Lakhs Rs
·         As I have received 28.3 Lakhs only, hence Entire Amt. is Exempt from Tax.

Please advice if my above logic is correct.. Thx much for help!

i wanted to know if a saving bank A/c (proprietor personal) was not accounted last year.. but his year i want to account the same.. what is the neccesary adjustment or entery to open the Account??

SIRS

HOW TO PREPARE TRANSPORTERS INCOME TAX EFILING FOR THE AY 2017-18. THEY EXEMPT FROM GST. BUT HAVING GST NUMBER. SO FAR GSTR-1 NOT FILED, PLEASE LET ME KNOW HOW TO FILE THE GSTR-1 AND ALSO INCOME TAX. GSTR-E B FILED AS NIL RETURN.

PLEASE CLARIFY.

We are into logistics business. We are issuing invoices without charging gst since gst has to be paid by opposite party on rcm . I have following queries"
1. In gstr 1 where should this income be included I return.
2. The colleague who was handling gst has included the said income under various heads in gstr3 b since last year since there was confusion in determining the head under which it has too be included. Kindly advice under which head will it go.

3. I have missed out invoices last month in gstr3b return can i include those in the current month.

Pl advice

In gstr 3b i showed only input tax credit and due to some reasons did not showed output tax credit because return was uploaded by mistake for january 2017.now i have excess input tax credit in my account.How to rectify this mistake.please advise urgently.

A Person located in India is providing services related to electricity department and related works such as feasibility report preparation, TEV study and government liasoning to clients located outside India. These services are provided by a person not exclusively to just one client but to all other clients and invoice are also made by him in US dollar and money also received in US dollar. so whether this is export of service or not?? and whether a person can be termed as intermediary for foreign Client or not??? what will be the GST impact on this transaction?