While checking the validity of schedule Part A -General (2) in excel utility down loaded from e-filing site, I am getting an error that " For persons referred to in sec 160 (1) iii or iv, [partF] (1),(2) are mandatory to fill. Please select an option from drop down"
Trust does not have any persons referred in that section; and in part F of the sheet the relevant cells are not green, indicating they are not editable and hence selection from drop down is not accepted.
Please advise how to resolve this problem. Without resolution to this, 'calculate tax ' and generation of xml file is not possible.
In itr5 excel utility there is also no "set off" button to set off losses in one head against the other, hence how the set off will be computed?

My Company had received non refundable security deposit from clients which will be forfeited and recognized as income. Can anyone guide, whether GST will be applicable on such non refundable security deposit, which will form part of consideration.

If yes what will be the applicable GST rate?

section 9(4) RCM

to be paid if supply of g/s/both received from unregistered supplies exceeds 5000/- per day.
My question is 5000 is to be seen for a good or service or both and from individual supplier or aggregate value of supplies from all unregistered suppliers

please let me help to know how to delete form in ssp portal which is in pending status. By mistake i opened conversion form and made a click on save and next in personal details. Now i want to delete that conversion form.

Dear Sir,
Is RCM applicable on bill of supply. for an example. suppose a medical institution providing service to the employees of an organization & against of that service he provides bill to the company with out Gst so how the company will treat this bill under Gst

Dear Members!
If a regular dealer purchase the goods from composition dealer! Than whether this goods will be considered as unregistered purchase and have to pay applicable tax thereon!

Pls clarify.....

Thanks & Regards
Karan kumar

XYZ(India) is participating in an exhibition in Dubai. The Air Fare charges incurred for the same will be reimbursed to XYZ at actuals by EEPC(India) which is a Govt. of India undertaking. For this purpose, XYZ is required to issue a debit note. Is XYZ required to charge GST in the debit note for this transaction?

What is the ground of appeal against order passed U/s.144.

A friend has created a Trust with himself as settler and Trustee. His son and brother are other 2 trustees. The Trust is registered under Indian Trust Act wef 16/4/2018. Application was made for registration u/s 12A but was rejected on ground that it is controlled by family as there were no other trustees outside the family and was closely held. The settler 's initial contribution was Rs 50000/- and he further contributed Rs 2 lakhs in 4 instalments of Rs 50000/- each during 2018-19 to Corpus of the Trust. All are bank transfers out of his personal bank account from his savings/ pension on which tax is paid. There is no cash transactions. There are no other receipts from any source.
During the year Rs 160000/- was paid as stipend to a person who worked on a project in Primary schools in Delhi for providing Yoga and Meditation to control manage and reduce anger, violence, stress in young children, which is one of the objectives of the Trust. It was free of charge for schools and students.
No tax return has yet been filed for A/Y 2019-20 relevant to F/y 2018-19. Now the trust has following choices :-
1. No filing of Return as there is no income or expenditure. Contribution to Corpus which is capital receipt and payment of 160000/- is application of funds. Hence no income/ loss
2. File Return showing contribution as Corpus Fund of 2.5 lakh in B/S as capital receipt, and expense of Rs 160000/- as salaries in P &L with business loss of 160000/-.
3. File Return with no income under Business, No B/S or P & L as there was no business and there is no income/ loss from Business. Show Rs 2.5 lakhs received from Settler as exempt income under Income from other sources -Gift from blood relatives as all trustees are blood relations and there is no other money received from outside persons. Treat it in same way as HUF. The money gifted as Corpus is out of tax paid amount.
4. Show Rs 2.5 lakhs as income from other sources (under sec. 56(2)(x) ) and pay tax on it. But this will amount to double taxation as settler has already paid tax on it and considering all trustees are blood relations and there is no money received from third persons, tax on such amount is unjust.
Kindly give your expert opinion as to which action should be followed.

Dear Experts,

Suppose in Assessment year 2018-19 the profit was calculated under normal provisions of IT Act and resulted in a loss of 1,00,000 which was carried forward. (this did not have any unabsorbed depreciation - only normal business loss)
In the next year (Assessment year 2019-20) the assessee opted for presumptive taxation u/s 44AD and this resulted in a deemed profit of 1,20,000.
The question is, can the last year loss of 1,00,000 be set-off against the current year deemed profit (under section 44AD) of 1,20,000.
Thanks in advance for your guidance