Hello Sir, My name is Narsimha Rao K,

This year January 2020, I formed a sole proprietorship (IT software) firm, but I dont get any profits, I am just taking salary from it and paying salaries to 3 others

Till last year I was filing my IT returns my own, as a salaried professional (ITR-1 Saral) from cleartax website

How do I have to file my returns last financial year (FY 2019-20 (AY 2020-21)), do I have to file ITR-1 or any other form...

Somebody is saying ITR-3 and somebody is saying ITR-4. I have confused a lot.

Please reply my query sir

Dear Sir,

We have 2 creditors which have not paid GST in FY 2017-18 so we don't receive GST credit under GSTR-2A, further all the payment for purchase already done by us along with GST amount.

Please let me know if we will want to recover the GST amount with interest U/S 50 as per Section 73 or Section 74

sir
iam recovery agent for bajaj credit cards ,every month bajaj crediting amount on commission basis to my account in that tds is deducting ,i have taken registration for gst but in my gst portal login no details of bajaj entries ,should i pay gst ,if so at what rate,or it covers under RCM supplies,solve my issue

Sir,
A resident of India wants to borrow an amount from his NRI relative. Please clarify the following points
1 Whether RI can borrow from NRI relative
2 How to repay in foreign currency. Repatiation is permitted ?
3 Are there any conditions or permissions to borrow
4 Whether the NRI has to send money from there or by debit to his account in India ( NRE / NRO)
5 The amount is required for the education of his son

GSTR 1 Return is filed quarterly and GSTR 3B monthly

In F Y 2018-19 some B2B Invoices were taken in GSTR 3B and GST paid but were not included in GSTR 1 quarterly returns.

The said mistake was rectified while filing GSTR 1 of quarter ended Sept 19 by including above missing invoices

Now while filing Annual Return for F Y 2018-19 Turnover in Item 4B of GSTR 9 is shown less. Shall i include difference in Sr No 10 of Pt V or change turnover in item 4B ?

A company changed its registered address on 31.5.2020. But the accounts were finalized only by 31.8.2020. Now, while preparing the annual report which address is to be mentioned? That as on 31.3.2020 or that as on the date of signing the annual report?

CGST Act has been amended as per notification 02/2019 raising the threshold of a composition dealer from 1 crore to 1.5 crore w.e.f 01.02.2019. Does this mean a composition dealer can sell upto 1.5 crore during 2018-19 financial year? My client's sales exceeded 1 crore during March 2019. Is he safe by virtue of this act amendment which would have its effect from 01.02.2019? An assessing authority is of the opinion this change would take effect from 01.04.2019 only. I am in a dilemma on this issue. Please help me out.

One of my clients is salaried, apart from that she did open a Business in the P.Y. No information regarding net profit is furnished, from her Bank Statement, it is found an amount of Rs. 5,06,000 received after closing the business. So how should I show the income? Shall I file ITR-3 and show the income as presumptive tax? or other else. Please guide me

What will be the date of acquisition of the property for calculating the Capital Gain in the following situation?

Mr. Kumar purchased the property on 05.06.1986 & then he has transferred through settlement to his son Mr. Krishna on 05/11/2002 thereafter Mr. Krishna transfer the property by settlement deed on 18.03.2018 to his daughter Divya . Now the property has been sold by Divya on 18.11.2019.

Hello
One of my client is GTA providing services on RCM. While filing 3B there is no GST liability and no ITC set off is taken. however can we accumulate GST paid by company on various revenue and capital expenditures while filing GSTR 3B ? so that it has got reflected in ITC ledger on GST portal over the period. is it allowed to accumulate ITC while providing services which are exempt or on RCM basis ? We are not setting it off but wants to know accumulated ITC is allowed or not on CREDIT LEDGER. can we utilize such accumulated ITC balance in future on proportionate basis company provides any taxable service ?