one of my client has not paid self assessment tax for the financial year 2012 and filed return well in time
and not paid any advance tax .
and after filing return under 143(1) intimation he has to pay 32310/- tax
and officer charged 2.00% pm int on 32310/- til ltoday
whether 2.00 % pm is right as per income tax provisions
pls guide
thanks in advance

For the Purohit income, which return should be filed, he has annual income is of around 3 LksWhether it should be filed under itr 1 under Other sources or itr 4 profession.He will get cash and he will deposit in his account.He will get by doing activities like Pooja in temple and other Poojas outside.

If I AM FILLING ITR 4 UNDER PRESUMPTIVE TAXATION BASIS,AND FOR A PARTICULAR YEAR IF I FILE ITR 3 WHOULD MY PRESUMPTIVE BASIS TAXATION BENEFIT BE REVOKED FOR 5 YEARS, I WONT BE ABLE TO FILE ITR 4 FOR THE PAST 5 YEARS AND I HAVE TO FILE ITR 3 FOR THAT PERIOD, KINDLY REPLY AS SOON AS POSSIBLE, THANKS IN ADVANCE

casual labour pyt.on a construction site, is rcm applicable? if yes @what rate?

The commercial Rent is Rs 65,000 per month of which per annum comes as at Rs 7,80,000 will it attract 18% GST ?

I have heard as follows:

If the commercial rent exceeds Rs 20 Lacs per annum, 18% GST on the whole amount will have to be recovered from the tenant.

Please guide me

yrs tarique rizvi
982 1630 130

Bad debt in the books of assesse was written off in Financial Year 31.03.2012 of Rs. 100000/-. During f.y ended on 31.03.2015 on 25.03.2015 a contract was executed between assessee and the borrower (whose debts was regarded as bad debt in f..y. 31.03.2012) that amount will be paid in F.y.01.04.2015 to 31.03.2016 by handing post dated cheques of different dates within F.y.01.04.2015 to 31.03.2016 totaling of Rs. One lakh those were duly passed.
Assessee on 25.03.2015 itself made entry by debiting the Debtor a/c of Rs. One lakh and Credited the Bad Debts Recovered account. Now it is being told that Bad debts recovered can not be credited on 25.03.2015 itself, because it is only the date of contract and it should have been credited during during F.y.01.04.2015 to 31.03.2016 totaling of Rs. One lakh when actually it was duly received.
Assessee has carried forwarded losses of more than Rs. one lakh and those can be set off only upto 31.03.2015.
Please guide what is the correct law.

I AM MEDICAL PRACTITIONER ALSO DISPENSE MEDICINES IN MY CLINIC. MY QUERY IS-
GST NO APPLICABLE FOR ME ?
SHOULD I APPLY FOR GST NO ?

I am thinking of letting out my residential property on a long term lease for 50 lakhs (property value 1.8Cr). The lease period will be for 5 years. The amount will be returned back after the lease period.
The monthly rental for this property in the market is 40K. I am planning to invest this amount in my business.
How should I file my tax returns to reflect this lease agreement and how to calculate my tax liability for the same.

what items to fill in last column where non GST exempted and zero rated supply has to mention

Dear Sir/Madam

With kindest rgds I would like to submit with the issue of RCM as follows:

I don’t have input credit to claim except RCM. I have yet not paid tax on RCM. Can we pay RCM in next month i.e. for Aug 2017 it will be paid in Sept.

Now if you go through my 3b. My first question is if I pay tax on RCM now for Aug 2017 expenses, whether I will get credit against my sale in Aug 2017

Or
In 3b my liability on RCM get sett-off against RCM then I will be indifferent by putting RCM as I will have to pay tax on my actual liability on sales.

Is this contention is correct.

I hope you will pleas guide me and oblige.

With lot of wishes

yours tarique rizvi

982 1630 130