Dear sir

my client is having hardware shop and Transport Business with 1 small (12000 weight) vehicle only .

FY-2020-21 Transport business is- 8,000,00/- Not Declared in GST but Received in 26AS under 194C section
Asper U/S 44AE - 90000/- income but..

TDS is Deducted how to show in income tax Return???
now my doubt is ..weather GST Applicable on Transport business ??? or RCM ??? How to Adjust in GST for last Year ??? please suggest me sir

Thanks in Advance
Madhu M

Dear Sir,
We got an export order of some machine parts. We have LUT for (2021-22). These parts will supply by the local manufacturer. What is the GST rate pay to the supplier?. Please guide me.
Ravichandran
Coimbatore

One of my client a partnership firm having turnover of 5 lacs and business loss of Rs.115000/- in FY 2020-21 and having a loss on sale of fixed asset of Rs.10 lacs wants its books to get audited and file 3CD.
In last year FY 19-20 the turnover was Rs.63 lacs and audit was done u/s 44AB(e).
Please advise whether tax audit is required to be done this year or not as Sec. 44AD(5) reads as below :
Notwithstanding anything contained in the foregoing provisions of this section, an eligible assessee to whom the provisions of sub-section (4) are applicable and whose total income exceeds the maximum amount which is not chargeable to income-tax, shall be required to keep and maintain such books of account and other documents as required under sub-section (2) of section 44AA and get them audited and furnish a report of such audit as required under section 44AB.

IGST (₹) CGST(₹) SGST (₹) CESS (₹)
Electronic Liability Register (Return related) 0 0 0 0
Electronic Cash Ledger 3002 1190 0 0
Electronic Credit Ledger 0 2948 0 0

Dear Sir,

Can a private limited company who deals in manpower consultancy business invest in shares or mutual funds just like an individual person. Are there any restrictions.

What will the Taxation impact if shares or mutual funds are sold in future years.

Please help me in this matter.

Regards,
Divyesh Jain

Dear All

Please note there is a service bill between branches to be made within state. the situation arises as one supplier provided bill of different address in the same state and we had to pay it. But we can't book the same in the branch from where we had paid it. Now can we bill the ame to our branch without GST?

Dear Expert : A Lorry Contractor does not has own lorry , he takes on hire from others and do the lorry service, an filling declaration for no deduction of TDS u/s 194C on freight u/s 194C (6), it valid declaration ? Is it tax should be deducted being a contractor or not since he does has own lorry or less than 10

Hi,

I have an invoice from makemytrip. I don't know to pass an entry in tally ERP9. I invoice the Fare Charges are 4316/- , makemytrip service fees are 245.76 and GST is 18%, which is on Service Fees. The total invoice is of Rs.4616/- which includes Rs10/- as donation amount.Should I consider it as IGST 18% as the flight travelling is from Mumbai to Hyderabad. Our is a proprietory concern

Mr Arjun is getting annual pension of Rs.4,00,000. In addition to this he has long term capital gains from sale of shares Rs.50,000. Kindly clarify his Income Tax liability.

KINDLY CONFIRM WHICH TDS RATE 2% /10% WILL APPLICABLE ON IT DESIGN & DEVLOPMENT SERVICES ?