Suppose a Pvt Ltd company has a plot of land which was purchased for Rs 50 Lakhs few years back. Now the company started the construction on the same plot of land and completed the same in the said year (Total construction cost is Rs 70 Lakhs). Should the company show this in the books as:
1) Land & Building for 120 Lakhs or
2) Both asset as separate asset ( Land = 50 Lakhs and Building = 70 lakhs )

Also advice if second alternative is adopted depreciation is to be charged at 70 lakhs only?

Please advice the treatment from both income tax and company law perspective.

What is the rate of GST on newly construced flat? A builder has started construction after 01/07/2018 and now want to sell of the flats. What is GST rate applicable for construction of flat?

Hello,
A NRI has transferred the fund of about 50 Lakhs to buy a Property in India from NRE to NRO.
He transferred the money to builder also..
But Later changed His Mind..Received money back in NRO Account from Builder
Now He wants to transfer a money back to his NRE Account.
What Procedure he required to Follow?
Whether Form 15CA/15CB Required?
Thanks in advance

DEAR SIR,
As per notification no. 12/2017 CT(R) & 9/2017 IT(R) dated 28-06-2017 and My understanding
Service provided by Goods Transport agency by way of transport in a goods carriage of a agricultural produce has exempted from tax.

My Query
I am a registered taxpayers under GST and i purchase agricultural product(aloevera leaf -exempt from gst) and send to buyers palace through GTA and pay transportation charges Rs. 12000 to GTA.
am i liable to pay gst under reverce charge for this transection ??
please guide me in this situation
thanks

I have been granted Disability Element of Pension from 11 April 2018 as per the Judgement of Armed Forces Tribunal Kochin in OA 296/2017.The processing of the Case took a long time and Principal Controller of Defence Accts Pensions Allahabad issued Corrigendum PPO sanctioning Disability Pension on ly on 26 November 2018.

In the mean while my Bank has deducted TDS from my pension. Disability Pension arrears from 11 April 2018 up to December 2018 have been paid on 02 January 2019.

Could you please advise me on the procedure which I need to follow to claim refund of TDS because the whole of my Pension is exempt from Income Tax from 11 April 2018.

Will a gift by father to son's HUF be exempt, as gift from relative? -- all members of son's HUF and father or mother of son are covered under definition of relative, and hence will HUF also be considered as relative?

Good Evening Experts,

We made supply to govt dept. in the month of Dec, 2018. We made supply in 4 states in same order and dept have deducted TDS on GST while making payment.

But while checking GSTR 7, TDS deduction made on invoices for 3 states are reflecting on our GST Portal but 4th state TDS deduction yet to be reflected.

You know that tomorrow is the last date for filing of GSTR3B. In that case, we should we do ?

or we can file GSTR3B by accepting TDS deductions for 3 states which are reflecting.

Please also confirm will it be available in GSTR 7 in next month which is pending.

Need your valubale inputs. Please advise.

Sir
An unregistered trust constructing a temple. How the donation will be treated. Shall i deduct all the capital and other expenditures as expenses??.

Is excess over and above only taxable or??
Pls guide me..

ONE OF OUR CLIENT HAS CLAIMED EXCESS CREDIT FOR THE MONTH OF APRIL AMOUNT RS.120000/- DUE TO CLERICAL MISTAKE NOW IT CAME TO OUR NOTICE SO I HAVE FOLLOWING QUESTION:
1) WHAT IS RATE OF INTEREST FOR REVERSAL?
2) WE HAVE CREDIT MORE THAN RS. 120000 THROUGH OUT APRIL TO DECEMBER DO WE NEED TO PAY INTEREST ?
3) WHAT IF WE HAD CREDIT RS 120000 TILL OCTOBER THAN WE UTILIZED SUCH AMOUNT AND PAID TAX LIABILITY USING SUCH AMOUNT.?
PLEASE PROVIDE RELEVANT SECTION.

Sir, please clarify my douhgt sir I am filling tds 24Q 3Q Frist time,in tds rpu software asked one coloum,Amount paid/credit, before tds amount coloum I am not andstarnd which amount fillap total yearly salary or month salary.sir calerfy my douhgt. Thanking you sir.