FY 18-19
GST registered 'individual' dealer
Sale about 30 lakh pa
GP 7-8% NP- Rs 60000/ i.e 2%
Sir my query is whether it is mandatory to File IT return.
Whether Audit is required
No IT return filed for last few years as business was in loss. Pl advice
Thanking you Anil

Dear Tax expert team
For the last a few years activity do stock transaction (BSE/NSE) and I have Long term capital gains from same BSE/NSE transactions.
I purchased house in 2014 (pre - construction ) and registered the house in FY19 on home loan and I paid some amount towards home loan.

Can file 54F to use capital gains for the paid home and avail tax exemption for capital gains.

thanks
Sekhar

Hello Sir, I urgently required ur advice. our company was formed in 2016 & thereafter no annual return compliance was done. As a result of such failure Rs 160000 fine is imposed on company. my que is can we do annual compliance for FY 16-17 & 17-18 now without paying fine. because we are in short of such huge money as on date & to stop Rs 200 per day fine can we do so...??? or fine is required to be paid before filing. Pls Advice

I am urgently looking for an accountant or CA in Gurgaon (Gurugram) to file ITR.
Please reply on this thread or privately with your contact details and/or fee.
Because the annual income is 3-4 L only, those who charge nominal fee are more than welcome to reply.

Thank you.

Dear Sir,

I was resigned from my job last year on 31st March 2018 after 8 years of service. I received my gratuity payment (1,14000/-) in June 2019. Currently I have no income source after resignation from my job. I am regularly filing ITR from last 6 years and this year i also want to file my Income tax return for the F.Y: 2019-20. I want to ask in which head i have to show my gratuity amount in ITR. I file my ITR and show this income in u/s10(10), but at the time of submission ITR mssg comes "Exempt Amount is more than Gross Salary". Sir I have no salary earned in F.Y: 2019-20. So I shown this income in "Exempt Income: For Reporting Purpose." Is it ok or not ? My return is correct or not ?? Pls help me to clear my confusion.

Thanks

Hi Team,
My husband is running a small scale business since 1.5year, the profit amount which we get named as revenue share is based on the total business for the month. I will keep it short. For eg: my monthly business is 1lakh rupees, i get a revenue share of 30% i.e 30000rs but in my account i receive only Rs.27000, 10% TDS is deducted from the business party itself. Now since November for some reason we are not able to pay their whole bill so in that case we are adjusting our revenue share amount.i,e we are not taking the revenue share. In that case my main question is the revenue share being adjusted should be Rs30000 or Rs27000(10%TDS deduct) in their accounts ledger.
I need a clarification on this. What amount will be reflecting in their ledger since we are only adjusting our revenue part .

R/Members,
i want to know GST taxability of Loading Vehicle, given under contract on fixed monthly payment. Sir please advise me regarding SAC Code and Rate of GST Applicable on this Service.
Thanks

I have 2 trucks. I gives these trucks to different transporter companies for a small period in entire year ie one transport company 1 month another 2 months etc. they give me rent on monthly or quarterly basis. Total rent during the year is approx 2.5 lakh
i am also running a retail shop of iron rods which is registered under gst.

1. where to show this rental income in itr as a business income or as a rent income under income from other sources

2. is there any treatment of this rental income under gst

Is Sec 44AD Applicable for a partnership firm carrying Software Development or IT Enabled business. If yes please state the nature of income code for filing ITR 4 under sec 44AD. As Codes like 140001, 140002 for software related business is not showing for Sec 44AD columns. Please revert as early as possible.

My name in PAN Card is printed correctly as "ASHIKA" but my name in PAN database is "ASHINA" which is incorrect. Is there any way for correction of my name in PAN database without changing the PAN number.