Can TDS be deducted under sec 194J for service provided by an individual to a commercial concern in respect of editing or writing articles for a house journal or for content writing for a web site? It is a professional service in common sense,as it requires certain expertise and skill, but is not covered under services defined under section 44AA . It is also not a technical service under sec 44AA.
Is TDS applicable to such service at all? Or is sec 194C applicable in this respect?
Kindly advise.

I have sold a property for a consideration value of 35 lacs which is lower then the Circle value price of 44.07 lacs.

but now when i calculate my LTCG it comes to 37.28 lacs (on calculating from the circle value and after taking indexation benefit).

as i am ready to deposit the entire amount of capital gain made into 54EC bonds, do i have to only deposit the actual consideration received or i have to add 2.28 lacs from my pocket and then deposit into 54Ec bonds?

please advice

Dear Experts,

I have entered all the opening balances to the current year but still, I'm getting the difference in my balance sheet. After verifying the trial balance, I came to know that opening stock is differing in that. What to do with that now?

Which return form is to be submitted (i.e, ITR 5 or ITR 7) in case of negative balance arrived by the Charitable Trust/ Charitable Society/ Educational Institution. Actually we filed ITR 7 for the Educational Institution and didn't the claim exemption u/s 10(23 iiiad) because of negative balance. But CPC defected the return since the Educational Institution has not claimed the exemption. In that case, how to deal with the situation?

Hi,

When is the buy back of shares considered as completed/ concluded?
To be more specific, what step, when performed, concludes the buyback of shares?
Eg: is it when the consideration is received, is it when the share certificates are destroyed, is it when the share certificates are received back by the company from the shareholder or any other scenario which can conclusively state that buyback is completed.

sir,
There is a difference in my closing bank balance according to the bank and my opening of bank balance in accounts.how could i pass an entry to tally with my bank balance so that my balance sheet shows no differences.

Dear Experts,
Since RCM is deferred to 30/09/2019. Hence as of now No RCM is applicable on unregistered purchase. Pls let me know while making purchase voucher whether applicable tax will be levied or not....

Thanks
Karan

Purchase cost 10/- per unit
Labour cost 5/- per unit
Profit margin 3/- per unit
Sale price 18/- per unit

So GST on 18/-@18% =3.24/- per unit
On Purchase 10/-×18%=1.8/- per unit

Net payable-3.24-1.80=1.44

Where as profit is of only ₹3 per unit.

So on 3/- profit 1.44tax is extremely high.

And than extra liability of income tax also stand.

Therefore I request you to advise that is their any reverse charge mechanism to offset the gst liability on labour cost of ₹5.

However, if a trader was there and he purchased any commodity of Rs15 and sell it @ Rs 18 he has to pay gst on value addition of Rs3 only where as this mfg.unit of which I have mentioned above has to pay gst on Rs 8 from his pocket (18-10) which includes labour cost itself of Rs5.

In both the cases entity earning Rs 3 each but one is paying on value addition of Rs 3 and other on Rs 8 so is there any thing like reverse charge mechanism on labour cost?

How can an amendment in finance act can amend companies act( regarding removal of limit for political party contribution by a company ) ? As companies act can be amended only after the approval of rajya sabha but finance bill doesn't require rajya Sabah assent

Can capital gain exemption u/s 54 be availed on farm house. does the definition of residential house property includes farm house???

Thanks in advance