sankar ponnan
19 March 2021 at 12:29

Tax On Remuneration

SIR-

Pvt Ltd Company pays remunerations to its director.
Any Tax liability will be applicable on it to Company ?

Plz guide me sir\
thanks in adv


KK Hariharan

Hello, here is my situation. I had filed a revised return for AY 2019-20, as part of which I had claimed Foreign Tax Credit (FTC) under the India-US DTAA, by providing the necessary details in Schedule FSI and also submitting Form 67. Furthermore, when I filed the revised return, I had returned the refund I had previously received upon filing the original return, along with interest thereon, by making payment in the form of Tax on Regular Assessment [400].

I received an intimation u/s 143(1) a couple of days ago, and NOTICED THE FOLLOWING ISSUES:

i. The FTC amount claimed u/s Sec 90/90A is listed under the "As provided by taxpayer" column but is listed as zero in the "as computed under Section 143(1) column".

ii. The payment made as Tax on Regular Assessment [400] has not been considered at all (only the advance tax [100] and the self-assessment tax [300] have been considered).

MY QUESTIONS ARE:

1. What option should I select in the rectification request form so that I am given the option to upload Schedule FSI, containing the FTC details, once again?

2. Where exactly should I list the Tax on Regular Assessment [400] payment? Note that Part IT only asks for "Details Of Advance Tax and Self Assessment Tax Payments", so it is not clear if Tax on Regular Assessment [400] should also be listed there. This amount does appear under "Details of Tax Collected at Source" in my Form 26AS.

3. The email intimation I received stated that since "there is a variance of Rs.100 or more between Tax Credits (TDS/TCS/Advance Tax/Self Assessment Tax) as claimed by you in the Return of Income and the computation as per attached Intimation, a separate email will also be sent providing details on the same. " How soon can I expect to receive this email and should I wait for it before filing for rectification?

Thank you in advance for your guidance. I am new to this forum, so if I should be posting this elsewhere, please advise.

KK


Abdul Rahim

Last February, i invoiced B2C bill to a party and take Eway bill on it. Later party asked me to change to B2B invoice. we already filed February GSTR 1 return too.
Is it possible to alter the bill and any consequence if I alter the bill?


Sonnal Khandaray
19 March 2021 at 11:56

IGST or CGST and SGST

Hi all

I have a company registered in Maharashtra who is providing online training to students located in Kerala.
I am issuing invoices from Maharashtra office. Should I charge IGST or SGST and CGST on the same bills?

Thanks in advance.


Abdul Rahim
19 March 2021 at 11:04

Vehicle Sale in GST

We, Proprietor concern sold a vehicle (Asset purchasesmore than 4 years before) to an unregistered party. May I know what all factors should consider as per GST?
Should I raise GST Bill and pay GST for the sale of vehicle?

please reply


Dilip Kumar Inani

I have paid fees for short professional courses of IIM which is related to my job profile . is it allowable expenses to deduct from my salary income by employer.


Sovan Nanada Goswami
19 March 2021 at 08:34

PROJECT REPORT IN EXCEL

Sir, I need a project report in excel format for newly established educational institution. pls provide me a sample copy if possible.🙏

Sovangoswami001@gmail.com is my mail id.


Chithu.E.K
18 March 2021 at 23:21

ITC

Need support
*If the output tax is less than the input tax credit, then how is GST computed? Need to show the full ITC amount in GSTR3B means if the output tax is Rs 1500 and ITC is Rs2000 show Rs 2000 in GSTR 3b or the amount which need to set off the liability i.e. Rs1500?
* there's no purchase and sales during last month so filed GSTR3b as nil return but there's ITC in GSTR2b didn't consider the ITC while filing what should I do now.? Can I show the same in next month's GSTR 3b return?


Kollipara Sundaraiah online
18 March 2021 at 22:30

Gst query for hospital

A person running a private hospital.if a person purchases of medical equipment value rs:50 lacs and some hospital material purchases Rs:10 lacs.
Question:
1.a person gst registration mandatory
2. Purchase itc claimed allowed


Chithu.E.K
18 March 2021 at 22:02

ITC

If the output tax is less than the input tax credit, then how is GST computed? Need to show the full ITC amount in GSTR3B





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