sankar ponnan
14 July 2020 at 13:40

TDS

Sir
A person has two entity i.e One is Pvt Ltd Co., and Other one is Proprietorship. He roles director in Pvt Ltd Co., and the Proprietor in the Other One. Both entity has the same nature of business i.e transport service.

He has own trucks (More than 10 Nos) and uses all of them into the both of his business. At the end of month, both of units issues sale bills for providing transport services each other by its name on the basis of sub-contract.
Both units deducts the tds @ 2% and remits the payment.

Is it Correct sir?
---------
In case if tds gets delayed to be paid, we should calculate the interest from which date i.e whether from the date of due or from the date of deduction?

thanks in adv



Kollipara Sundaraiah
14 July 2020 at 13:23

Bill of nursing home

Assess maintained a hospital(nursing home.)
Bill
Consultation (o.p.) Fee
Room rent
ICU charges
Doctor's visiting fee
Surgeons fee
Anesthesiologist fee
O.t. charges
Nursing charges
Others.
Question:
Assess all fees collected charges accepted in I.t. act and any not accepted fees in I .t.act.


KV Venkateswaran
14 July 2020 at 12:57

TDS on rent

TDS has been deducted and paid to the govt on rent but the deductor has not filed the TDS quarterly returns to the tax authorities. so As 26 of the deductee or tax payer does not reflect the TDS deducted by the tax deductor.
What is to be done? Last year the same thing happened and the tax payer had to pay the tax to the tax authorities because there was a mismatch between the AS 26 and the information of tax credit by the tax payer.


Dipen
14 July 2020 at 12:46

Royalty or License Fees

Hi,

In case of copyrighted software product , distributors/resellers pay a fixed amount/fixed % to the copyright owner for every sale. In this case fixed amount/fixed % on every sale will be in nature of royalty or sales? Also there can be multiple distributors for same copyrighted software product.

Also if royalty/sales can this fall under presumptive scheme?

Regards,


Murali
14 July 2020 at 09:16

E-Way Bill Process - Reg

Dear Sir,

Our concern has been raised invoice to customer outside the state & raised eway bill. Unfortunately business process has been stopped due to finance problem & also GST return not filed & cancelled by GST authorities. We have not filed GSTR 1, GSTR 3B & also customer payment also not able to receive. If we are not ready to continue business what is the solution for raised E Way Bill & not filing GST return?


Nitesh kumar
13 July 2020 at 20:40

GST REGISTRATION

I applied for a GST registration against which department is asking for clarification due to name mismatch in electric bill and rent agreement, the said property is registered in the name of a lady, and electric bill used to come in the name of her son.
now please guide me to solve this problem so that I may able to get GST registration.
thanks


swathi

Dear sir,
My farther gifter me 50lak from his sole proprietorship business. He directly transferred it to the newly started partnership business bank account ( myself and my sisters are partners)

We introduced the money as partners share capital into our business

1) should I execute a gift deed??
2) should I declare such gift income in my itr???
3) directly received in bank account of partnership firm is a problem??
4 ) else can I keep it as interest free loan into my business
5) if interest to be charged,then can I charge 8% on loan


vinod k arora
13 July 2020 at 15:39

Deduction u/s 24 b

I own a flat jointly with my wife.
I took a loan from SBI in my single name in 2017.
The possession of house received in Dec 2019.
Interest payable on pre construction period was say Rs. 250000 for FY 2017-18 and Rs. 280000 for FY 2018-19.
Interest for FY 2019-20 was Rs. 265000.

Now I wish that the benefit of deduction u/s 24 b be availed by me as well as my wife who is co owner.
Pl advise can I now get her name as co borrower now and whether in that case we both shall be eligible to the benefit.
If any carry forward for the interest on pre construction period shall be available.

Pl advise suitably on the above matter along with your suggestions.
Thanks.


K BHEEMA REDDY
13 July 2020 at 15:39

Sec 80JJAA

Dear sir,
I have one doubt regarding SEC 80JJAA .
1.what is the effective date of applicability of this sec 80JJAA
2.Whether this sec is applicable to company's or not
3. For how many years this section is applicable.


Thanks in advance.
Regards,
Bheema Reddy.


K BHEEMA REDDY
13 July 2020 at 15:34

Marriage gift received from employer

Dear sir,
I have one doubt regarding marriage gift, in our company as a policy at the time of marriage of employee
our company gives a cheque of Rs 5000/ Rs 7500 to employees. whether it is taxable or not. and also tell me the difference between gift under the head salaries and income from other sources.

Thanks in advance.
Regards,
Bheema Reddy.





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