G Prathiba

Explain the compliances needs to increase paid up capital?-Private Limited Company.

Thanks in advance.


Umashankara HB

We do sale both taxable & exempted goods and we purchase packing covers, which is taxable, for the purpose of packing both taxable & exempted goods. Out of these packing materials we use same covers for all the products except few, which are exempted, named jaggary, Oil & Pushti. For Pushti we use separate packing cover(Pushti Covers) and for other two we don't do packing. We are reversing entire ITC of Pushti covers(T2), because it is used for exempted supply.

My Question is, while calculating Aggregate value of exempt supplies during the tax period(E) & Total turnover in the State of the registered person during the tax period (F), for Rule 42 purpose, do we need to include turnover of Pushti(for which we are using separate Packing covers and not taking any ITC benefit), Jaggary & Oil (for which we don't do any packing)?


CA Parul Saxena
30 January 2023 at 12:44

Login on icegate

i have heard that juse IEC code required to login on icegate can somebody please tell me how to login on icegate portal?


shivam singh

Circular 23/2017 dt 19.7.17 clarifies that TDS should be deducted on amount excluding GST, provided GST is indicated separately. Now, under Income Tax act, for what purpose should this circular be applied.

1. For the purpose of ‘determining the amount’ on which TDS should be calculation .

2. For the purpose of ‘determining TDS APPLICABILITY’ ie: scope of TDS threshold limits.

If the scope of the above circular be applied on point no 1 , then what is the scope of checking threshold limits(including GST or excluding ).



Vishal Kumar

Is there any circular/Notification from RBI for offsetting value of Additional Collateral against NPA


P.Madhivadhanan
30 January 2023 at 09:22

ITR U FOR THE ASST YEAR 2022-23

Assessee's Total income for the financial 2021-22 is Rs.472800. After 87A relief his tax is zer0. 234F Rs.1000 Payable. He wants to file ITR U for the asst year 2022-23. He has not filed return already. Is it possible . If it is possible challan 140B or 140A. How much is the tax payable. His age is 58 years.


ALOK GOEL

History-
I paid monthly contribution ( about 12%) from my tax paid salary to my Company regularly for 14 year ( about Rs. 9 Lakhs)
After retirement at 60 years , Company fixed my monthly Annuity through SBILIFE and I am receiving annuity monthly .
Question -
This annuity is taxable or not ?
In my opinion , it should not be taxable as I had contributed this Rs. 9 Lakh fund from my taxable salary for past 14 years. Can we connect this case with Section 10 , Tax clause 23aab
Kindly clarify me .
Regards


VISHNU
29 January 2023 at 10:28

Economic profit

Why most people consider accounting profit and not economic profit. And from our childhood itself we learn about accounting profit only. Why so?


Gopalakrishnan. S
29 January 2023 at 10:00

Restaurant under 5% GST without ITC

Sir,

One of my friend is running a restaurant. He opted for 5% GST without availing ITC.
His turnover has crossed 1.5 crores in October 22 itself, but he noticed it now only.
Can he continue under the same scheme for this FY ? What should he do now ?
Pls. advice.


Dhiraj Mandoth

Dear Experts,
I have received a Professional Tax notice for 6 years asking to pay the PT of Rs. 2500 on the showroom which is an additional place of Business.
I have been paying every year towards 2500/- but now they are asking to pay even for the showroom. The Showroom is just for the display purpose and to take orders.
I am sole proprietor trading in glasses and hardware .

Kindly suggest whether should i pay the PT on the showroom for all the years from the date of its addition
or
There is no need to pay, if so under which section can i reply to the notice or any case study to back my reply .





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