Dear Experts!
We had purchased the goods in 2018-19 however we had also return that said goods by Debit note in same year 2018-19 but the supplier has issue the CN thereof in November 2019 whersas the deadline was to issue CN of 2018-19 up to 30/9/2018, Pls guide as buyer what to do,

Thanks.
Karan

TAKEN AS A NEW FILE, PREVIOUS CONSULTANT DID WRONGLY FILED OUTWARD SUPPLIES AND ALSO INPUT CLAIM TAKEN WRONGLY. OMITTED MORE PURCHASE BILL AND DIDNOT TAKE ITC.
BUT HE FILED THE RETURN UP TO SEPTEMBER 2019 . ALL RETURNS FOR THE FY 2018-2019 ITC HAS TAKEN WRONGLY. MORE THEN 20 LAKHS ITC OMITTED. CAN YOU GIVE ANY SUGGESTION FOR THIS CASE?
PLEASE GIVE ANY SUGGESTION FOR CLAIMING ITC 20 LAKHS FOR THE YEAR FY 18-19

THANKING YOU

One of my client Amit has purchased a property in delhi for Rs. 24 Lacs in May 2010 by paying entire amount by account payee cheque to the seller. (In Sales Deed only 4 Lacs was mentioned as per circle rate and stamp duty was paid)
Amit sold this property to other person in Sep 2011 for Rs. 26 Lacs and received entire amount in cash and deposited the same to his bank account, since no short term capital gain arise on the house property. ( In Sale deed, Sale Consideration of Rs. 5.80 is shown.)
Income Tax department raised a demand U/s 69A treating the entire cash deposited as income.
Cash received by way of sales of House property ma be allowed in this case or not.

Sir,
In case of sale of constructed commercial building if long term capital gain occurs then whether valuer report is mandatory of IT Assessment if

1. Both purchase and sale values are as per Revenue Circle Rates.
2 If yes then whether valuer report should be obtained before or after date of actual transaction.

Can you favor with early reply .Thanks

Dear Sir,
My Client is an individual, he has made an agreement to purchase/sale of a commercial shop with a builder, and details of the agreement are as following:
1. Paid 10% of purchase consideration as advance through account payee cheque on the date of above agreement.
2. Date of agreement was 1st October, 2015.
3. Purchase price was settled @ Rs. 5,000/- per Sq. feet.
4. Stamp duty value (circle rate) on 1st October, 2015 was Rs.7,000/- per sq. feet.
5. Value assessed by Valuation Officer on 1st October, 2015 was Rs.5,000/- per sq. feet.
6. He has gifted 50% of his share to his son on 1st July, 2017 & after completing the formalities, the builder enter the name of his son in the agreement. Now both names are appearing in the agreement.
7. Stamp duty value (circle rate) on 1st July, 2017 was Rs.8,000/- per sq. feet.
8. Value assessed by Valuation Officer on 1st July, 2017 was Rs.6,000/- per sq. feet.
9. Registration of this shop was executed in joint name on 1st November, 2019 & circle rate on that date was Rs.9,000/- per sq. feet.
10. Value assessed by Valuation Officer on 1st November, 2019 (date of registry) was Rs.7,000/- per sq. feet.

Kindly advice whether any income chargeable to income-tax under the head Income from other sources or under any other head to his son.
Regards,
Thanking in advance,
K M Goyal (FCA)
M No.: 9899799000

Dear Sir,
My Client is an individual, he has made an agreement to purchase/sale of a commercial shop with a builder, and details of the agreement are as following:
1. Paid 10% of purchase consideration as advance through account payee cheque on the date of above agreement.
2. Date of agreement was 1st October, 2015.
3. Purchase price was settled @ Rs. 5,000/- per Sq. feet.
4. Stamp duty value (circle rate) on 1st October, 2015 was Rs.7,000/- per sq. feet.
5. Value assessed by Valuation Officer on 1st October, 2015 was Rs.5,000/- per sq. feet.
6. Registration of this shop was executed on 1st November, 2019 & circle rate on that date was Rs.9,000/- per sq. feet.
7. Value assessed by Valuation Officer on 1st November, 2019 (date of registry) was Rs.7,000/- per sq. feet.

Kindly advice whether any income chargeable to income-tax under the head Income from other sources or under any other head.
Regards,
Thanking in advance,

K M Goyal (FCA)
M No.: 9899799000

SIR,
MY QUERY IS IF PARTY INVOICE RAISE ON TRANSPORT WITH GST CHARGES THEN IT'S FALL UNDER RCM OR NOT AND WHO WILL PAY LIABILITY AND INPUT CREDIT TAKEN?

Dear Experts,

Plz clarify the below:

1. Material received from (X) Karnataka to (Z) Telangana. Transporter is located @ karnataka , which tax shall be payable by " Z " under RCM (CGST+SGST OR IGST)

2. Material received from (X) karanataka to (Z) Telanagana. Transporter is located @ Telangana, which tax shall be payable by " Z " under RCM (CGST+SGST OR IGST)

awaiting for your valuable reply

Specifically, I have the following queries with reference to Chartered Accountants Act :
1. Is trading in shares considered "other business"? When is it not considered "other business"?
2. Will obtaining permission by a CA holding COP to engage in other business (like trading goods, wholesale, restaurant, trading derivatives, etc.) make the applicant ineligible to perform attest functions (audit, signing as CA, etc.)?
3. Can a CA not holding COP or holding part-time COP engage in other business (like trading goods, wholesale, restaurant, trading derivatives, etc.) without performing any attest functions?
4. Can a CA not holding COP or holding part-time COP engage in consultation, tax advisory services, filing services, etc. without performing any attest functions?

Dear sir,

We done the mistake in filing of GST, Actually we have taken GST registration in Oct-17 and after that we have filed Oct-17 GST return in that we have taken Jul-17 invoices in Oct-17 filing so now we are going to file the GSTR-9 can we remove the July-17 invoices and considered only invoices from Oct-17(when registration done in Oct-17).

Kindly advice on this.

Regards,
Rajesh