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Sharmita Shah

I want to know can I generate Proforma Invoice to my other country buyers when I am doing Merchanting Trade in International Trade


Vijay Mishra
31 March 2021 at 19:13

E-invoicing

Dear Sir,
Greetings!

Our company's combined turnover of all the branches is 15-16 crore. Should we opt e-invoicing from 1st April 2021? Please advise.

Regards / Vijay


Sriram

What is the GST Threshold limit when Providing service and sale of Products in same Business? Please explain how determine in various situation ?


Soumya Laha
31 March 2021 at 18:53

GST rate for SAC code 998892

What is the GST rate for SAC 998892 (Jewellery Manufacturing Services) ?


CMA Pravat Kumar Parida
31 March 2021 at 18:17

Regarding TDS on salary

what is the process to deduct TDS from salary if an employee join in the new organization during the month of March,2021 at higher Salary and no declaration is received from previous employer regarding TDS deduction.


k.b.nagesharao
31 March 2021 at 15:33

Tds on wages

we are saree manufacturers and deducting tds @1% (0.075) up to march 31-2021. But from April if the weaver whose income is below taxable income and not summitted Income tax returns for the past 2 years is is must to deduct 5% or as usual 1% even from july-01-2021 too. any section with exemption or notification is this regard. Please give your valuable reply. thanks in advance
K.B.Nagesha Rao.


Vaneet Monga
31 March 2021 at 15:21

Gross Profit related

Dear Sir

Please suggest regarding GP. In 2018-2019 My Gross profit 8.37% In 2019-2020 its 8.37% But in current Financial year 2020-21 its 7.10% even my purchase and sale increase from last year. Can i face any issue Surcharge or plenty from Income tax or GST department.
Please guide


kollipara sundaraiah
31 March 2021 at 15:21

Money lending business Question

A person registered pawn broker lending money Rs:30,000/- to a person cash mode paid.
Question:
If any it provision applicable or not applicable .


Nishant

Hi
I filed my ITR in Nov 2020 and my tax refund was successfully processed and credited in Dec.
However on 29th March 2021, like many others I received the message for acknowledging high value transactions and revise ITR if applicable.

My query:
My total tax paid was X and tax liability was X minus 15000. So i got a refund of 15000 in Dec 2020.
However now my tax liability after declaring other sources under savings accounts and FD is "X plus 15000". So, as I have already received the refund, my additional liability should be 30,000. however the portal is not yet updated with the tax refund that was processed in Dec 2020 and its asking me to pay only 15,000 as the additional tax (instead of 30,000)


Manjunath Maller

On 29-03 Income tax dept sent my spouse a high value transaction saying other Sources of income is 12lakh for fy 19-20 .However when i checked details i found out whatever her original reported source of income i.e 4 lakh which is interest income from deposits they have replicated the same in 2 savings bank account under SB interest.This is just baffling to me.she hardly had 3000 rs in 1 of the savings account and another savings is dormant.The 4lakh other sources of income that came was reported accurately by her and tax was also paid.she responsed to to e campaign message indicating 2 values of 4 lakh each in SB accounts is just duplicates of deposit interest and denied it on the portal
If they validated and remove those 2 incorrect entries then her originally filed ITR becomes accurate.

Pls advise in such a case that even though these extra incomes(4LAKH *2)she have never earned and they simply showed it up against SB account and seems a reporting error either by bank or by IT Dept do i have to file revised ITR?.