A is the owner of a land.
B is a protected Tenant in the land.
A is giving B on ownership basis and free of cost 52.5% share of the land. In lieu of the same B is surrendering his tenancy rights to A with respect to the Balance 47.5% of the land.
Are sections 50C and 50D of the IT Act applicable to A in the above transaction.

I am curious to understand what happens if only one partner remains in LLP. Rest all partners are retired for summer or the other reasons

Hi,
I am taking deduction in full 1.5 lakhs under section 80C.
I am also taking deduction of Rs 50,000 under section 80CCD(1b) which is additional contribution by individual in NPS.
I have query regarding deductions on NPS under section 80CCD (2).
Can deduction by employer for NPS up to 10% of Basic under section 80CCD(2) be over and above total deduction of 2 Lakhs as stated earlier ?

thanks.

DEAR SIR,

I HAVE ALMOST LESS THAN 2 CRORE CLIENTS. SO I NEED FILE GST ANNUAL RETURN OR NOT.

PLEASE CLARIFY ME WHAT HAPPENED WHETHER LESS 2 CRORE TURNOVER IF NOT FILED ANNUAL RETURN. I HAVE FILED THEIR INCOME TAX RETURN MATCHING WITH TURNOVER OF SALES AND PURCHASES. ONLY 2 CASES ARE FILED AS U/S 44AD BUT THEIR TURNOVER IS LESS THAN 2 CRORE IN THE FINANCIAL YEAR 2017-18 AND 2018-19.

REGARDS

Hi,      Our father passed away last month. My Brother and I are the legal heirs. My brother was the nominee in all my fathers Bank accounts and he has already received  in his account.  I wish to relinquish my claim on this money that my Brother has received as nominee. Do I simply give it in writing to my Brother or do I have create a gift deed on Stamp paper. Does the same need to be registered also ?   Thanks, Shanti

ABC Pvt. Ltd. provided its premises on rental basis to xyz pvt. ltd. Along with rent other services like Electricity, Water, Gas, Lift etc will be charged separately. ABC Ltd issued below bill to xyz ltd for the month of December 2019.
Electricity - Rs.10000/-
Water - Rs.8000/-
Gas - Rs.4000/-
Lift - Rs.12000/-
Total Rs.34000/-
Add: CGST@ 9% Rs.3060/-
SGST @ 9% Rs.3060/-
Total Rs.Rs.40120/-
Can xyz ltd. claim ITC on this? I am doubtful whether this bill is correct or not. Please guide with supporting notification.

If the MAT is paid during this financial year,whether this MAT could be adjust towards the future tax liabilities of the company? If so , far how many years?

If a person is a business correspondent sub agent of a Business Correspondent does RCM attract, as in the notification the wordings was service provided by a BC agent to BC will attract RCM. Does Sub agent and Agent makes any difference or are they one and the same as per the GST Act.

Dear Experts,

An Individual taxpayer who registered under GST law provide Rental on Immovable Properties services from his individual name. Can ITC will be available to him for Bank Charges and Mediclaim premium which is also reflected in his GSTR2A? Please confirm. Also please confirm what other ITC is available to him.

Dear Sir/Madam,
I have a doubt about some entry in telly.
Case Detail:- Entity-Proprietorship Firm
balance sheet data as on 31 march 2019:- advance tax -0, TDS-26644
now after self assessment tax payable was 504102, in which proprietor already paid 400000 in advance 24AS reflect TDS 32402 hence. he was paid 71700 as self assessment Tex.
Now, what entry i should pass in telly.
Please help me out.
Thanking You