Naveen
27 January 2022 at 09:51

GTA TAX clarification

Registered under GTA but do not have own vehicles, as and when requirement is there vehicles are taking from market from unregistered agents / brokers etc.

unregistered agents / brokers etc. they are not providing any consignment note with bills.

Un registered agents / brokers / owners etc. bill to registered GTA without any tax ... is this correct and when GTA billed to customers, they bill with GST 5% under RCM along with consignment note. In some case GST 12% under RCM to claim ITC by customers.

Is tax applicable when registered GTA taking vehicles from UR agents etc. and supply to another GTA, i.e., GTA billed to GTA both are registered


CA Prakhar Gupta

Kindly let me know whether the Jurisdictional AO has the power to change the category from Artificial Person to Association of Person whereby the PAN of the assessee remains the same


Manoj
26 January 2022 at 22:36

Good transport agency

If GTA takes on hire trucks from market and gives on hire to various companies. Then in this case Whether any liability of gst arises on GTA on the hire charges received from various company.


TARIQUE RIZVI
27 January 2022 at 09:51

GIFT INCOME DEED ISSUE

Respected Sir,

During the whole financial year 2020-21 one of my clients has received a sum of Rs 15,72,000 in many Installments on account of GIFT from her real brother settled in US. As I have to show the said income in ITR-2 under the head of exempt income, whether any DEED is required for such a GIFT INCOME as supporting documentary evidence.


Kanwar Jit Singh

I was allotted shares of my company in lieu of vested stock options at a certain price. In order to buy the shares I was given a loan by an Employee Welfare Trust and the shares alloted were issues with me as the first owner and the Employee welfate trust as second owner.

After the loan was repaid, the name of the Employee Welfare trust was removed by notung this as a transfer to my name in the Memorandum of Transfers in the physical share certificates.

The FMV at the time of this transfer was more than the original exercise and issue price of the shares.

Does this difference qualify as "Income from other sources" or not.

My contention is that shares were in my name all the time so it is not an income if the share price has appreciated in the meanwhile till I dispose of the shares. What section of various Acts can I use to substanitate my claim.


Daya

Received from Partnership firm is Taxable or Not, in partners hand while computing partners income
Remuneration,
Interest,
Share of Profit from Partnership Firm,
and On which portion TDS apply while paying to partners,


Nitesh kumar
26 January 2022 at 16:58

Lost physical possession of Equity share

I had 300 equity shares of Chambal Fertilizers and chemical limited but unfortunately have lost the certificates and there is unclaimed dividend from year 2005 .
At the same time present value of Equity is 452 per share.

Whole the amount is transferred to IEPF account please guide me to recover the amount


amit

Looking for tax consultant to help in investment phase ITR
please touch base at infowhiztech@gmail.com


Shabeel Syed

Regular Statement for Acknowledgement Number BI0419624 filed by you through TIN has been processed by Income Tax Department (ITD) u/s 200A and no defaults have been identified for this statement.
Tax was paid through HDFC 10 days ago and still not reflected in form 26QB.
How many days it takes to get listed or something went wrong?


Ishita Goel
25 January 2022 at 23:03

Form 118 required or form 109?

My principal (Paid Assistant) under whom I was registered resigned from the firm. In that case which form do I have to filled form 118 (Intimation for change in principal status) or need to be filled 109 then again 102/ 103 under the same firm? and in how many days ICAI detagged the paid assistant from the firm after firm gave ICAI a details about it?

Please let me know asap.





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