I HAVE TO FILE THE INCOME TAX RETURN OF A PARTNERSHIP FIRM FOR THE AY-2019-2020, IN WHICH THEIR ARE 2 PARTNERS.
BOTH THE PARTNERS ARE HAVING INVESTMENT IN UNLISTED EQUITY SHARES OF A PVT. LTD COMPANY AND ONE OF THEM IS ALSO AN ACTIVE DIRECTOR.
NOW, MY QUESTION IS, WHETHER I CAN OPT FOR ITR-4 FOR THE FIRM AS THE AMENDMENT IN THE ITR-1 & 4 RESTRICTS INDIVIDUALS ONLY NOT THE PARTNERSHIP FIRM.
KINDLY SUGGEST.

I return the purchases earlier made. i received the credit note for purchases return. can i adjust earlier ITC taken on these purchases?
where can i adjust that equivalent ITC on return Goods?
Can i show the That amount of ITC in reversal coloumn in GSTR 3B?
am i correct?
Please Suggest me sir?

Person 'A' have contract with municipality for supply of water in his tanker in the different routes of municipality for the period of April to June for an amount of Rs 19 lakh. water for above supply is collected by 'A' from third party at a charge and is supplied throughout the municipality (water is not processed). 'A' is not registered under GST. Queries > Whether GST is applicable for above transaction (supply is only 19 lakh. I.e within the threshold of 20 lakh. no other activity) > Whether GST TDS is to be deducted by municipality. > if municipality deduct GST TDS, can 'A' claim it as refund by taking new registration and filling Refund firm directly without filling any returns. Thanks in advance.

We have installed a Ventilation cooling system at Plant, where can we classify this Asset.
Will it be under Office Equipment or Plant & Machinery.

Please advise.


Regards

Amit Nimbalkar

Interest earned on NRE Savings Account and NRE Fixed Deposits by an NRI is chargeable to income tax or it is exempted ??? related provisions... please guide me

thanks in advance

my query is :- in the FY.2017-18 while I was matching GSTR-2A I found some mismatch on GST portal that in the table of Comparasin of Libility declaration showing total value of ITC Rs.42397=00 but Table no.8A of Annual Return ( ITC as per GSTR-2A ) is showing value Rs.42351=00. Therefore, ITC is less Rs.46=00 on Table no. 8A,
It is mismatch in the portal of GST.
So, Pl. advise which value will be availed to file annual return 2017-18.

My client purchase second hand Battery from Composition dealer and selling to Excise company, whether Margin Scheme will applicable or has to pay tax on sales value.

Ex. Purchase price of second hand Battery from composition dealer Rs 3200
sales price Rs 3500, GST Rate 18%
Qn. GST will applicable on margin Rs 300 (3500-3200) or Full value Rs 3500

While filing GSTR 1 credit note of one of my client for particular month is not entered by mistakenly but while filing GSTR 3B credit note is considered while taking total turnover (total turnover - sales return) and the GST is paid on net amount.
As the GSTR 1 now can not be rectified for F.Y. 2017-18, in GSTR 9 whether I have to pay the GST on credit note (sales return) because I have not considered the same in GSTR 1?
Thank you in advance

If immovable property , Land , is purchases from Govt.& value exceeds Rs.50 lacks , Is TDS u/s 194 IA applicable.
Nothing has mentioned in sec 194IA.
Thanks,

Can anyone help me ?
How to regularize the Inward Remittance for the Sale of Domain name to Foreign Country.
The Fund would be received by Escrow and further transferred to our bank.
Regards