Sir,

In the FY 2020 - 21, we were under QRMP scheme. While filing the GSTR1 return for Q4 in March 21, we
ommited the sales for the month of Jan and Feb ( B 2 C sales ) and entered only the turnover for that month in the relevant table. Later, in April 21, we realized the mistake and filed an amendment for
B2C sales for March 21 in GSTR 1 of April 21.
But, ironically, now we find that, a portion of the B2B sales also has been included in the amendment made in B2C table.
When we went for another amendment in the subsequent GSTR 1 return, the portal is not permitting us to do so, stating that, already an amendment has been made.
Now, how shall we rectify the error.
Pls. advice.

If someone had purchased fixed asset on credit and defaults in making the payment of fixed asset payment . still he is able to claim the depreciation and what is the treatment in income tax

Dear Sir, Thanks for your time for reading out my query and answering it.

Company A has acquired controlling interest (52% shares) in Company B on 15 April 2020 by subscribing to further issue of shares by Company B, face value Rs 10 at a premium of let's say, Rs 15 per share.

Thus net assets of Company B increased from eg Rs 500,000 on 1 April 2020 to Rs 12,50,000 on 15 April 2020 due to receiving the share application & securities premium premium money.

Assuming Company B did not earn any profit during this period, What value of Net assets will be considered for the purpose of Goodwill calculation?

Will it be Rs 5,00,000 or Rs 12,50,000 ?

I had filed form ITR 2 based on Form 16 for AY 2020-21. After that, I received intimation under 143 (1) (a) (ii) saying incorrect claim u/s 143 (1) (a)(ii)-"Exempt Allowance Sec 10(13A) is more than minimum of :a) 50% of (Basic + DA) orb) HRA .Hence amount exempt u/s 10(13A) is recomputed accordingly".
So, I replied to the intimation with the calculation. Then, I received demand notice under sec 154 saying that xxxxx amount need to be paid. So, I filed rectification request where I requested reprocessing of ITR. Again, I received demand notice. Request your help in this.
I have rent agreement and form 16 B where exemption under sec 10 (13 A) is captured.

I raised a housing loan for purchasing a Flat under a subvention plan and the possession of the flat was given in September 2020 and I paid the interest component of the loan (Pre-EMI) till February 2021 and started the EMI thereafter. Can I claim the rebate on Pre-EMI interest paid for filing my ITR?

We have applied for GST Refund for Inverted Tax Structure , we have received deficiency memo that document uploaded are insuffucient,
Please help us what documents to be uploaded.
Thanks

Our trust has registered under Society Registgration Act, 1860. Whether it is necessary to register under BOMBAY PUBLIC TRUST , 1950. Kindly advise us. The said trust is already registered under Section 12A of Income Tax, 1961.

Dear All,

Please, let me know the VALIDITY OF DTA FORM VALIDITY FROM THE DATE OF GENERATION UNDER SEZ SALES - LUT/BOND.

Sir I have sold shares of the unlisted company which i have received as ESOP before 2020 how will it be taxed and under which section. If i use these proceeds to pay off my housing loan can i get relief from tax or by any other mode my tax be avoided or reduced.

I providing management consultancy services mainly to international clients through my LLP firm (or sometimes as a freelancer/independent consultant). Now, in order to provide my services, I often take support i.e. import "services" from companies (or sometimes independent contractors) based in the US and China.

My questions:

1) Do I need to deduct withholding tax for payments to entities in USA and China that does not have an establishment in India? If yes, at what rate?
2) Do I need to deduct withholding tax for payments to independent contractors in China (or any other country, say Indonesia, Philippines)? If yes, at what rate?

Appreciate your input!

Thanks,
Sumit