I have filed ITR- 7 of the Registered Gratuity Trust and there is some Arithmetical error in the return has been given by the income tax department u/s 143(1)(a)(i) which needs to be correct:-

i) In schedule ER, amount entered in Sr.no.19 [Total] is inconsistent with the sum of Sr no (1 to 18) of Schedule ER.

ii) As per the details furnished in the return, Assessee is not registered u/s 12A/12AA but is claiming exemption under section 11 .i.e. Sl. No. 4i to 4viii in Schedule Part B-TI.

iii) As per Section-12A(1)(b) of Income tax Act read with 1st Proviso to Rule 12(2) of the Income Tax Rules, where the total income of the trust or institution without giving effect to the provisions of section 11 and section 12 exceeds the maximum amount which is not chargeable to income tax, the audit report in Form-10B has to be E-filed along with the return of income. Since assessee has not E-filed the Audit Report in Form 10B along with or before filing of the Return of income, the exemption u/s-11 .i.e. sr.no 1 & Sl. No. 4i to 4viii in Schedule Part B-TI is not allowed.

iv) As per the details furnished in the return, Assessee is not registered u/s 12A/12AA or 10(23C)(iv) or 10(23C)(v) or 10(23C)(vi) or 10(23C)(via) but is claiming exemption under section 11 .i.e. Sl. No. 4i to 4viii in Schedule Part B-TI.

What should I do in the above errors?

Further, I know that the income of Gratuity Trust is exempt u/s 10(25)(iv). But i cannot find this section in ITR-7.

Can anybody help me that. I will be thankful to him.

Thanx in Advance

Hi sir,
please tell me whether GST is applicable for the service provided to school. Because we are planning to start a school service company relating to physical education program in the school for primary to high school.

I purchased a flat in 1982 with area 500 sq. ft for Rs.1.00 lakhs. The property was redeveloped and I was allotted a flat with area of 700 sq. ft. in the new building as per agreement signed and registered in October 2015. The possession of the new flat was received in February 2017. This flat was sold in February 2018 for a consideration of Rs. 1.40 crore. Will this transaction attract LTCG or STCG tax and what is the caculation of the same.

In Gujarat for the purpose of fulfillment of Sauni Yojna, government installing very huge pipelines through government contractors.

Compensation is paid by the contractor in respect of

- Growing crop
- Any Building
- Bore-well or Deep-well etc..

or against any damage to the person to whom any such damages occurred.

What will be tax treatment for such amount received for compensation only and not for acquisition? Will it be taxable or non - taxable?

Dear all

We are a manufactuer of company. We export goods through DHL to out side india.DHL and we located in maharashtra under GST Act but DHL charges IGST on every services
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Regards
Praveenkumar Varma

XYZ(Manufacturer) withdrawing samples of raw material, semi – finished goods and finished goods for Q.C. testing within factory. The samples get consumed / destroyed during testing. Is XYZ required to reverse proportionate input tax credit / pay GST on such samples?

Dear Sir,

My sister thinks I keep an eye on my father's property. But I have neither the intention nor any desire of any property.

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Hello CA Club members,

In my 26AS form, I noticed an unknown entry. A company in Kolkata has used my PAN and has shown that they have made deposit in my account. However, no such transaction has happened. How can I contest this dubious entry. Thank you.

Regards,
Pinkesh

Hi,

A company which name is ABC Ltd. booked a hotel for a conference , inside which also book hotel rooms and after that
provide some rooms to its client , and charge some amount .

should this company issue tax invoice for rooms which it provide to its client or adjust received amount with hotel
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Provide your answer for a GST registered company .

Thanks

Respected Experts,

We have wrongly availed ITC of Rs. 4112 as IGST in m/o of July-2018 instead
of Rs. 2056 as CGST & Rs. 2056 as SGST. Today we found this correction.

Sir, We are manufacturer of Footwear & we have sufficient balance of GST in Credit Ledger
in all the months of 2018-19.

Sir, my query is that can we adjust this correction in the m/o Feb-2019 by taking less IGST Rs. 4112
and add CGST & SGST by Rs. 2056 each or we have to deposit IGST through cash ledger with interest.

Please advise sir.

Regards,

Rakesh Sharma