Dear Sir,

We need your precious help. An ancestral 6 storey building. It has been shown in the balance sheet of Private Limited Company (Trading Company) since 1960. The Private Limited Company has been availing depreciation for the same building in every year. Being an old and ancestral building, it does not have any record like date of purchase, value of purchase etc. In a word, there is no document which shows its present value as well as past value. The building is situated in Kolkata and its document of Corporation Tax is there. Whereas, tenants are there and rent and maintenance charges, collected from the tenants, are being shown as ‘Income from House Property’ in company’s P & L A/c.
Now, the matter of concentration is that in the Financial Year 2016-2017, a portion of a floor of this 6 storey building has been sold out near to rupees 1.05 crore. As, yearly depreciation has already been taken, the sale can’t claim the privilege of ‘Capital Gain’. So, if the sale amount is directly taken at the credit side of ‘Profit & Loss Account’ as an Income, then the Payable Income Tax Amount is becoming near about 30 Lakh which is quite a heavy amount for a Private Limited Company whose turn- over is 8 Crore. Further to say that in the same year a repairing expense near about Rs.50 Lakh is incurred in order to repair another floors. Can this expenses be adjusted with the above mentioned sale amount subtracting directly from total sale amount or putting the expenses at the debit side of P & L A/c ? So, please advise mentioning the ways how can we reduce the amount of Tax.

Regards,
Subhadip Acharya

What is the fee structure for registration of a LLP as per partner contribution, on MCA portal ??
Suppose if partner contribution is 5 crs. then what will be fee for creation of LLP

Dear sir,Madam
i have stock purchased fro registered delaer within state ,goos is washing machine led tv refrigerators i paid Vat only i have that invoices , axcise is paid by manufactures, ia m trader only i dont have excise registration ,can claim excise duty in trans 1 of gst as given in law ie 60% if excise paid document not available and 60 % of which value

I tried to file GSTR1 online with zero sale.. but it shows error.. Pls help

what effect if hard copy not sent within seven days from the date of registration

Hello

Can i change Evc (Electroinc verification code) detail (Email Id & Mobile No.) in gst profile

Please share track for change evc detail in gst portal.

Dear Experts,
While filing application for Gst registration I came across a case where the applicant is carrying out business in owned premises the tiltle of which is in the name of his father who is deceased i.e. electricity bill and muncipal tax receipt is in the name of deceased father (the property is not yet transferred in the name of applicant). How should the same be dealt with while providing details relating to the place of business?

Dear Experts
We have business of recharge (Company A). having customer B ,C ,D ,E,
Customer B having customers P, Q, R, S
Customer B Will deposit cash to company A. Company A will load the amount Wallet of Customer B
Customer B Will transfer the amount from his wallet to P, Q, R , S wallet
Recharge done by P,Q, R, S through Company A, But company A need to issue invoice to P Q R S
Here company receive the amount from Customer B .
Customer B asking invoice
But I need solution for these kindly help

Dear All.. Good morning. This is regarding GSTR3B Return for July. While filing GSTR 3B today morning unfortunately missed to enter the eligible ITC. But entered the output details correctly and also submitted the same.  While filling payment of tax details, i realised that i have missed to enter the ITC details. Now its shows error for offset the liability. Although my liability is more then the input credit. I.e., liability is 1.5 lakhs and the input credit is 98000 only. Anyway i have to pay the balance of 52000 as cash. So not able to file gstr 3b. Now my question is can i need to file GSTR 3b for July or else can i left GSTR 3b as it has and proceed for filing GSTR 1 directly.  Or Anyway i have to file GSTR3B. If so pls guide me how to file the return by offset the liability. Pls do the needful.   Thanks in advance S.Sundarrajan

if TDS has been deducted from maturity amount of LIC then what will be tax consequences?how it will be shown in income tax return?