i'm having a doubt whether we need to pay tax or not in one case.
the following case is as follows.
i have sent some goods to my agent, he lost a part of them, so paid some compensation to me. that part i have shown in my balance sheet under other income. now i should pay GST on that income or not.
under which section.
please help me with this

There are multiple divisions under one GST. Some divisions are taxable and some are exempt. Out of all, one division is corporate division which books only common professional services under which GST is paid under RCM. This Corporate division is considering 100% credit of tax paid under RCM. Query is whether we can claim that ITC considering the fact that there is no outward supply in Corporate division under GST

Sir,
I have deposited TDS on 4/6/19 for short deduction as per notice received from TRACES. Today only I found my Challan status OK on OLTAS. Today I am going to add that challan on TRACES but it was still not reflected on site. Kindly advise me when it will be come on TRACES so that I can add that challan & clear the outstanding.
Thanks
Parag

Budget 2018 introduced Standard Deduction u/s 17(2)viii upto max upto Rs 40,000 for Salaried class. If a taxpayer has received a pension/superannuation annuity from his former employer, it is treated as income under the head ‘Salaries’ and Standard Deduction is allowed in FY 2018-19.
A taxpayer upon his retirement, is receiving Pension / annuity every month from LIC against Pension & Group Scheme under a master Superannuation Annuity Plan by his past private employer.
The query is whether this superannuation annuity received by him (treated as Income under the head - Salaries), will be eligible for Standard Deduction? Since LIC does not deduct any tax at source, no certificate will be issued by LIC as regards exemption under Standard Deduction. .

Sir, I have a Client who have income from Sale and Also Having Income from Heavy Vehicles & Equipment Hire Charges. Now i need to know that can I show the Hire Charges Income with the Sale in Profit and Loss A/c?? and How to show the Hire Charges income in ITR - 3?? One more thing - Can i Calculate More than 8 % profit on Sale + Hire Charges Income??

Dear Sir, one of my client is providing delivery service for E Commerce operator (Amazon) and Collecting Cash from Customer as transaction type is COD, Then depositing cash into his Current account and later transferring to e commerce operator, Now my query is how to treat that Cash Deposit and Transferring the amount to e commerce operator in accounting and GST.

Hope somebody will help regards my query.

Dear All,

We want to know whether the premium paid on the term insurance of the Directors can be booked as expenses.

The assessee sold residential flat in FY 2018-19 which was bought in 2000-2001 for Rs. 1000000/-. Cost of the Flat say Rs. 200000/- Indexed cost is Rs. 560000/-.
Here actual capital gain is Rs. 1000000-Rs. 200000= Rs. 800000/-
Taxable Capital Gain is Rs. 1000000-Rs. 560000= Rs. 440000/-.

Which amount to be invested in Capital Gains Account Scheme 1988 to avail benefit of Section 54? Actual Gain of Rs. 800000/- or Taxable gain of Rs. 440000/-? Or entire sale proceeds of Rs. 1000000/-?

Can assessee voluntarily invest more amount in the scheme than the capital gain? i.e. If he invests entire sale proceeds of Rs. 1000000/- as the cost of new flat will be much higher than the sale proceeds, is it allowed?

Please guide explaining meaning of 'Capital Gain' as mentioned in CGAS Scheme 1988.

Thanks and best regards.

Dear Learned experts,

St. Francis Trust is a mutli-organizational dedicated to equip and empower the lives of people with disabilities, leprosy & HIV through physical intervention, educational assistance, socio-economic interventions for wholistic transformation towards. Our objective is to bring hope and support to children, families and communities struggling with disabilities in the northern part of Karnataka state, India.
We are registered
• Under section 12A of the Income-tax Act 1961
• Registered with the Director General Foreign Trade (DGFT) and having the certificate of Importer-Exporter Code governed by the Foreign Trade Policy.
• Registered with Women and Child Development Department, etc.

We provide charitable services to the persons with disabilities, leprosy and HIV/AIDS and also export handicraft products made by persons with disabilities directly to the customers in the USA by POST without engaging any Customs House Agents and the proceeds realized are utilized for the upliftment and advancement of persons with disabilities.
We export the handicraft products through the POST as it is permitted under the provisions of Foreign Trade Policy, and Customs Act, 1962. The provisions are mentioned here below for your kind perusal.

1. Clause 6.23 “Export/Import by Post/Courier” under chapter 6 of the Foreign Trade Policy 1st April 2015 to 31st March 2020. The said clause is reproduced here-below for your kind reference.

“Goods including free samples, may be exported/imported by air freight or through foreign post office or through courier, as per Customs procedure.”

2. Clause no 9.1 under chapter 17 “Legal provisions and exemptions in case of postal exports” of the Central Board of Excise & Customs Manual 2015. The clause is reproduced here-below for your reference.

“Goods which are not prohibited or restricted for export as per FTP can be exported by post through specified Foreign Post Offices or Sub-Foreign Post Offices or Export Extension Counters.

We exported the handicraft products to our customer in United States of America (USA) by post after filling the custom declaration form. Our customer from USA has now transferred the funds on 16-05-2019 to our Axis Bank Ltd, and an intimation towards the inward remittance has been received by us from our banker requesting us to produce the shipping bill no/custom clearance/entry in the customs for the above exports to ensure and confirm that the goods have moved out of India so that they can credit the funds to our account.

Is shipping bill required to submit to the bank as we have not exported the goods through CHA (Customs House Agent).

Under what clause and law can we ask the bank to credit the funds to our account. Appreciate your guidance in this matter.

Sir,
I got Rs 1,86,91,575/- in sub contractor income. now want to know its income are audit compulsory. And In which ITR (3 or 4) i have to file?