Sir / Madam,

We normally disallow the Loss on Sale of Fixed Assets while calculating the income from Business or profession. Likewise we disallowed the profit on sale of Fixed Assets (ie. the income reduced with the profit on Sale of asset) in our computation of business Income. The IT officer CPC notify us by a communication posted in the Income Tax Site in our Login what we did is wrong. We cannot understand the logic behind why the loss on sale of assets is disallowed but profit on sale of assets cannot be disallowed while arrive the income from Business or profession.

Could you please explain the logic behind this subject.

Thanking you,

With regards,
Bazeer L

RESPECTED SIR
I WANT TO KNOW ABOUT ANNUAL RETURN OF GST. SIR WE ARE SUBMITTING OUR GSTR-1 AND GSTR-3B EVERY MONTH AT TIME THAN WHICH TYPE OF ANNUAL RETURN (ie, GSTR-9 OR 9C)WE WILL BE SUBMIT AND HOW. OUR ANNUAL TURN OVER WAS FOR LAST F.Y ABOVE 2.5CRORE IN FIRST FIRM AND 8.5 CRORE IN SECOND FIRM.

PLEASE SEND FULL DETAILS OF ANNUAL RETURN. HOW WE CAN SUBMIT OUR ANNUAL RETURN BECAUSE NO ANY LINK ARE SHOWING ON GST PORTAL. PLEASE SEND OUR ANNUAL RETURN FORMAT ALSO.

DEAR SIR,

IN MY CLIENTS FORM 26AS INCOME HAS BEEN CREDITED FROM A PARTICULAR PARTY BUT NO TDS HAS BEEN DEDUCTED AND MY CLIENT HAS NO BUSSINESS TRANSACTION WITH THAT PARTY AND ALSO DOES NOT KNOW HIS LOCATION NOR HAVE ANY CONTACT DETAILS OF THAT PARTY.
ON RECEIPT OF NOTICE FROM THE INCOME TAX DEPARTMENT THAT PARTICULAR INCOME HAS NOT BEEN CONSIDERED IN YOUR INCOME TAX RETURN I CLAIMED THAT MY CLIENT HAS NO BUSSINESS TRANSACTION WITH THAT PARTY.
INCOME TAX DEPARTMENT SEND A NOTICE TO THAT PARTY ASKING TO FILE A REVISED TDS RETURN AND A COPY OF SAME WAS SEND TO MY CLIENT FROM WHICH IT APPEARS THAT THE PARTY IS FROM KOLKATA.
THAT PARTY COUNTINUES TO CREDIT INCOME IN MY CLIENTS PAN AND SAME IS REFLECTED IN FORM 26AS.
HOW DO I DEAL WITH THIS?

The land was acquired tamilnadu govt for electricity power house in the year 1986. Those land was used by land owner for agri purpose. Initial compensation was received at that time. The land was situated at rural area.Now upon appeal enhanced compensation received by the land owners. The town was now converted in to corporation. The land was situated not with stipulated area for capital gain. But people in that area becomes more than 10000. Clarify for enhanced compensation date to be considered on original acquisistion or now?

Sir if the contractor does not have any GSt numbers how we will deduct the TDS or we will not be required to deduct TDS

Hii Everyone

I have received Transportation from the Registered GTA , who raised Invoice which is amounting to Rs. 22500 and Footnote stated in Invoice that GST payable by consignee @ 5% on value of Invoice.

Whether the amount i.e Rs. 22500 is inclusive of GST or i have to charge GST on Rs. 22500 ??

Please provide the solution of the above query..

We have two factories within the state with same GSTIN. We are shutting down one unit. We would like to transfer the unsold finished goods in the unit being shut down to the other unit. We plan to do it with an invoice without GST and will also generate an e way bill. Is this procedure ok or do we need to intimate any authorities regarding the movement of FG.

PL ANY BODY HAVE REPORT BOARD OF DIRECTORS
THE COMPANY IS FIRST YEAR AND CAPITAL 100000 RS

Sir, I am registered dealer under GST for sale of goods in West Bengal , besides i have given my vehicles on hire to a GTA ,(though i have not taken registration for that ) , now my question is who will pay GST on transportation service, me or GTA ? and if the service is exempt from GST should i amend my registration ?

Sir,
I incorrectly filled the Assessment year for FY 2015/16 as 2015/16. This resulted in filing of ITR for the wrong FY i.e. 2014/15. This has led to a double problem. 1. Now there is a tax demand for FY 2014/15 even though there was no income that year and no TDS deducted. 2. The filing of ITR for FY 2015/16 is still pending and the last date for that i.e. 31st March, 2018 has already passed. I recognize that I made a mistake and I am ready to pay the fine. So, please guide me as to what process should I follow.