Dear Experts My client had received compensation from Government of Karnataka for putting high tension Electric Poles on his agricultural land. My query is While filing his IT Returns What head I have to shown? Whether is taxable? if Yes whether it is Capital Gain Tax or Other Income? Thanks in Advance.

Dear Sir,

I had purchased goods from some parties in the F.Y 2017-18. I have already taken input tax credit in the same Month in F.Y 2017-18. But I notice that supplier not uploaded invoice in GSTR1 and same not shown in GSTR2A in F.Y 2017-18. Now input credit will disallowed or the supplier can upload invoice in GSTR1 in the F.Y 2017-18. Please advise me.

Thanks & Regards
Vicky

In one of client’s case, ROI filed showing capital gain on sale of Agri. land and assessment completed u/s. 143(3) r.w.s.147, but subsequently it is found that the said land is not capital assets as it is away by more than 6 Km from nearest municipality, satisfying exemption as provided in Sec 2(14) of IT Act.
My question is – (1) Can I Claim before CIT (A), that actually there is no capital gain on sale of land as said agri land is not capital asset ?

(2) Can I file application U/s 154 before ITO ?

(3) what could be remedy ?

My Aunt has received following Claim for death of my uncle:
1) LIC Policy Claim Rs. 400000
2) Bank Saving Account Claim Rs. 1700000
3) Post Office Claim Rs. 50000
4) She is receiving family Pension now
My Uncle was tax payer. What are the tax liabilities on my Aunt on account of above claim benefits.

Sir
Our client which is a pvt ltd co.has Opening Provision(1/4/18) for income tax as 91000.The co. has paid 90600 as self assessment tax for the f.y 17-18 of Rs.90600 (in sep 2018) and received Income tax refund of 1790 (in Dec 2018) of f.y 17-18.Now there is excess provision of 2190.How it will be accounted in books for F.Y 18-19 and we are working on cloud accounting software for the client.

Thank You.

I stay and work in a company in Bengaluru. I have been showing my house in Mumbai as self occupied and claiming bank loan interest deduction for several years. I recently (in October 2018) registered a house in Bengaluru in joint names (me and my wife); home interiors going on now. Possession letter from builder is still pending. Home loan EMIs have started from Oct 2018.

2 questions please:
1. Given my parents stay in Mumbai house, do I have to show Bengaluru house as self occupied and Mumbai's as deemed let out?

2. In either case, what will be the home loan interest treatment for my Bengaluru house?

XYZ (Manufacturer) is procuring material and giving it to a outside contractor for carrying out various fabrication, repair and maintenance jobs within the factory premises. The contractor is charging labour charges bill for the same on lumpsum basis depending upon the nature of work and not on man hour basis but not charging service tax being within the threshold exemption. EA-2000 audit team is demanding service tax from XYZ under reverse charge under ‘Manpower supply’ for the period 14-15, 15-16 and 16-17. Is the demand sustainable under the service tax provisions?

Sir

Our Entity was operating as a partnership firm. And now it is incorporated as a private limited company. We have a huge amount of Input tax unavailed in the capacity of firm.
My question is can we claim this unavailed input tax while filing GSTR of private limited company.

Kindly address this query at the earliest.

Please guide how to correct Typing error of invoices Nos of 2017-18 while filing GSTR-1.
This is being shown as mismatch and pointed out by the part now.

Can we take input gst from all business expense like.., repairing(spare parts and service charge, electrical work(purchase of electrical items for factoty/office)
Flight ticket for business travelling, gst bill from Hotals regarding business meating/business trip, purchase of construction meterial for building renovation used for business etc..