SIR'
WHEN A PARTNERSHIP FIRM BOOK OF ACCOUNTS AND TURNOVER OF THE FIRM IS BLEOW ONE CRORE AND PROFIT IS BELOW 8%(INCLUDING PARTNER SALARY AND INTEREST)
SALES RS.70.00 LAKS
SALARY & INTEREST RS.3.80 LAKS
NETP PROFIT RS. 10,000/-
IF APPLICABLE U.D 44AB OR 44AD
THANKS

XYZ is a Director in PQR Ltd. Chennai (Not on pay roll) as well as ABC, Mumbai (On pay roll) having a common parent company EFG in Japan. The Directors sitting fees including other incidental expenses for attending meetings at PQR, Chennai are paid by EFG in foreign currency but to ABC, Mumbai since XYZ is representing ABC while attending meetings of PQR. Is ABC, Mumbai liable to pay GST on it?

Sir, We have filed appeal with CIT(A) on 31st Dec 2016, (at that time pre deposit rate was 15%). CBDT had hiked pre deposit rate to 20% in Aug 2017. The case is still pending with CIT(A) in 2020. Now Assessing officer is asking for additional 5% (20-15=5). We would like to know whether officer can demand such additional amount? if no, is there any supporting notification or circular?

Sir, Whether dissolution deed is required to be prepared if one partner dies in partnership firm having only two partners? and whether any information is to be provided to income tax department about dissoution of partnership on death of any one partner out of two?? if yes, what is the time limit ?

A company is paying processing fees to Exim Bank. Is TDS applicable on the same?

Please inform that new tax slab announced in budget will applicable from which date? From which financial year optional slab is available?

Kindly specify the time limit for reversal of ITC on purchase returns and sales returns

Hello,

A and B are two registered dealers and dealing with buying and selling of used cars. A is buying from unregistered dealers and selling to B. B is buying cars from registered dealers(A etc.) and selling to both registered and unregistered dealers.

My question is what is the GST implication on transactions between A and B, what is gst liability for A and for B.

A Property is to be purchased and an advance towards the same is to be paid to the builder, so how can we deduct TDS @ 1% and pay as while filing 26QB, there needs to be filed date of agreement & agreement value, which is not confirmed as on the date of payment of advance and also upto the date of payment of TDS on such advance.

So can we pay the TDS on property on the whole amount together at the time of agreement registration, as the agreement value & date of agreement will be available only after that for 26QB, thus TDS will be paid on lump sum amount of agreement value & not on installments & the advance paid will be part of total consideration.

Note, there will be a period of around 3 to 4 month from the date of advance payment to till the date of signing the agreement.

please let us know how to go about with TDS on the same?

Dear Sir,

I am having a Private Limited company in which I am one of the director in it. I want to withdraw excess funds lying in the bank account. Can I do it by withdrawing cash from the bank account or is there any other way. Salary to the directors is already given.

Please suggest on the above matter.

Regards,
Divyesh Jain