ITC is not available under GST for Motor vehicles & conveyances.
My Question is can we claim gst on Purchase of New JCB for Construction Company???

Hi,

Can Anyone tell me how to undo reconciliation in tally.

please let me know what will be the tax implications in hands of legal heir of the ex employee on occassion of his death.
the main concern is that the employee was not in service at the time of death means he has retired from service of the company two months before his death, but due to position held by ex employee in the company, the company has decided to give compensation to the wife of ex employee.
kindly tell me whether the compensation received by widow is taxable or exempt in support with some case or section of income tax act.

Hi Friends,

Can any one let me know, whether GST is to be paid under RCM for the services of Foreign companies (FACE BOOK, LINKDIN and GOOGLE) utilized in India.

Best Regards,
Nagaraju

My friend have M.Com Degree, presently he is getting salary from his employer (aprox 7 to 8 lakh per annum) now he wants to receive the same amount as a business income, please suggest following. Employer is industrial engineering firm.

* Is it possible to received salary as a business income?
* For which service he has to issue bill to his employer. (Type of services for issuing of bill ?)

During current FY my friend has no other client to issue the bill.

Suppose A & Co. (Register Dealer) send some Material to B & Co. (Register Dealer) for JOB WORK purpose against challan No. 15, Dt. 03/06/18 whose materials Taxable Value Rs. 160000.00 .
So A & Co. create a WAY BILL (Reason for Transportation- OUTWARD- JOB WORK) and mention in way bill Document No 15 , Date -03/06/18, Value- 1,88,800.00( i.e 1,60,000.00 + GST)
Now questions are-
1) when material return B & Co. after Job work finished to A & Co. then who create WAY BILL B & Co. or A & Co.
2) Suppose B & Co. create a Invoice No.CE/019/18-19 , Dt. 04/06/18 for Labour Charge only Gross Value Rs. (15000.00+ GST=17,700.00 ) against this Job Work purpose so if B & Co. create way Bill then Which Value , Date & Bill Number mention in way Bill . please guide .............

Suppose an individual having income more than Rs,. 50 Lacs during the financial year 2017-18. As per the provisions of I T law, Assessee has to disclose the value of assets and liability thereon including jewellery. Such assessee not prepares the balance sheet and having certain personal jewellery. So how to determine the value of such jewellery to disclose in ITR 2 for A Y 2018-19. Whether cost can be taken as base for disclosure.. Further if In the next assessment year, assessee has income less than Rs. 50 lacs, then what be tax implications for non disclosure Kindly advise.

Dear Sir,
My real Mausi age 88 years out of affection has given me a cheque of rs 15 lakh as gift. as per IT website the brother and sister of either parent can give a gift to the niece or nephew without attracting any gift tax. now
MY QUERY is -
1.do we need to execute a gift deed.
will it be okay to have it on stamp paper of rs 100/-
or will it be necessary to register the gift deed and pay the registration fee/ stamp duty /
plese advise asap as the health of the mausi is not too good.

thanks nd regards
mallika

please help.....! Sundry Creditors is showing debit Balance in tally as excess amount is paid to the party. how to treat the same in the next FY opening balance

Dear Sir,
I was filled my last ITR for the FY 2015-16 on dt 30/03/18, Now I want to Fill my ITR for the FY 2016-17 which is new but when I log-in at Income tax website & try to filing the ITR there is a option seen for rule 119(2)(b)/92CD. I read about that rule from diff website but can't understand about that. My return not as revise & nor about any claim. Its just only NIL tax return.
Dear Sir, kindly define me about that rule in easy way & give the solution for that. Can I fill my ITR for the FY 2017-18?