A bank employee is posted at Mumbai. Bank has provided him leased accomodation of which lease rent is paid directly by bank and added as perquisite in the hands of employee. Total Rent per month is Rs 58000 out of which bank pays lease rent Rs 50,000 p.m. and the balance Rs 8,000 is paid by the employee. The bank employee is having one house property in an other city situated in India but because of his job he has to live in Mumbai.

Is he eligible to claim deduction U/s 80GG in such case? Please suggest.

Sir,

My father recently demise and his business is been looked up by me now. I am running separate business all through this year and now handling my father business. Now i want to know how to merged father Income Tax filed with my IT filed.
Is it possible to merged IT filed with my father.

What is the treatment of Capital Balance appearing in Proprietorship Firms Balance Sheet if 3 legal heirs out of 4 decides to run proprietorship business as partnership firm.

Dear sir,
One of our client is a Doctor and is running a nursing home. and its gross receipt from it is Rs 35 Lacs. Now he is renting a shop in its premises rent from which will be approx 120000.00. He want to go for compositon scheme. I want to know whether we have to pay 6% tax on Rs 120000.00 taxable portion or the whole amount Rs 36.20 Lacs. Kindly give reply with reason

Daer Sir/madam

Partnership into the business of buying and selling of immovable properties and one of the partner while floating the firm he brought an immovable property as a capital introduction.
Now doubt arises that,

whether TDS needs to be done by the partnership firm for such property ?

Please give your valuable reply to the above issue
Thank you in advance
Laxmi

Hello

I have register as a trust and i have issue sales bill of sponsorship business. Kindly Guide its cover under RCM or forward charges ???

We are manufacturer and having Domestic, Job Work and Export Sales.

In GST shall we use Invoice as Invoice Cum Delivery Challan for Outwards supplies instead of using DELIVERY CHALLAN AND THEN TAX INVOICE.

sir,

we received an order from overseas buyer for manufacturing of garments
the garments to be handed over to an exporter in India for further process and Export in his name

buyer will make payment in US$ to us the manufacturing charges and exporter for other processing charges
we are raising invoice to buyer for the garment manufacture value and we get the payment

please advise what is the procedures and formalities to be followed by us

request you to advise

thanks
madhava guru

Members...

I have come across one client who runs a partnership firm in trading of medical equipment.

Partners very frequently withdrawing good amounts and putting into their other business and again bring back .
Like that frequently transactions are taking place and most of time their account in main business shown debit balance of huge amount.

some time they transfer huge amount as loan to their friend circle and bring back after sometime.

I want to know legal provision on such transactions.

Dear Sir

While filing of GSTR 1 for the month of May 2019, i was taken B2B invoice as B2C . so that is there any revise option to correct that whatever i was done earlier , please let me know.

THANKS AND REGARDS
RAKESH R