Prashant

I have property "A" which is let out. For buying property "B", I took a loan against mortgaged and the Property "A" was mortgaged to acquire Property "B". Can I claim the interest paid on loan against property u/s 24
I am offering the rent income of Property A as let out


CA. DINESH CHOUDHARY
25 July 2018 at 22:22

About gst rate

Presently me Govt. deptt. ko transportation of passenger (i.e. govt. employee) by CAR ki service provide kar raha hu, is case me GST rate kiya hogi ??????? Is service me fuel cost & driver salary me hi pay kar raha hu.......

Plz suggest me...........


Israr Ahmad

I work in a dignostic centre . Some medical shop , Quak doctor, professional Doctor and person send/refer patients for testing here in the month end we give some percentage to them but I m confused in which head of account should me shown and if show it sale promotion under indirect expense will it attract TDS. If attract then in which section??


RAJA SINGH
25 July 2018 at 21:19

Income from brokerage/commission

A salaried employee having income from salary who is also doing the liaising work for some brokerage/commission under which head his income from brokerage/commission will be taxed - whether Income from Other Sources of Income from business.



jani

can partner comes under the definition of person under section 2(31) of the IT Act 1961


Tara Jain
25 July 2018 at 20:48

Tax audit turnover definition

Mr. A is a dealing in items which bears heavy cess on it under GST (For eg. Tobacco). In the current year his taxable turnover under GST was Rs. 50 Lakhs on which he has paid GST including cess of Approx. 62 Lakhs. What will be his turnover under Income Tax Act. (Kind attention sec 145A which says -
the valuation of purchase and sale of goods and inventory for the purposes of determining the income chargeable under the head “Profits and gains of business or profession” shall be— (i) in accordance with the method of accounting regularly employed by the assessee; and (ii) further adjusted to include the amount of any tax, duty, cess or fee (by whatever name called) actually paid or incurred by the assessee to bring the goods to the place of its location and condition as on the date of valuation.
Kindly reply soon.


Vimal Khatri

Dear Sir/ Madam,
My Client has received a LIP Maturity Amount from LIC. LIC has deducted TDS on the maturity amount. Please tell me whether Maturity amount received from LIC is Taxable or Taxfree. Please also tell me the reason for the answer. if It is Taxable then under which section & Which head, and if it is Taxfree then under which section.


Vimal Khatri

Dear Sir/Madam,
my client is a insurance commission agent, and his total commission income is less than 60000/-. Kindly tell me which ITR Form Should I select for F.Y. 2017-18 (A.Y. 2018-19). Please also tell me the section under which insurance commission income is to be taken.


Bharat

What will be the disclosure in ITR for amount received by nominee on the death of insured person in case of life insurance?

Is it exempt income and required to be disclosed/shown U/s10(10D)?

or

Is it treated as inheritance and does not require any disclosure in Income tax return of nominee?


priyanka arora

Dear All kindly help me out with the below query. is it mandatory to file the return of income before 31st July to avail the exemption for educational institutions. or the exemption Will not be granted when we file late return.





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