An assessee received Salary Income of Rs.45000/- for the month of April 2018. He resigned and is now doing business and has earned Net profit of more than 500,000/- upto October 2018.

The question is - Can he take full benefit of Rs.40,000/- as standard deduction from salary or proportionately for a month??

Please reply.

Dear Sir / Ma'am,

What are the remedies available to Registered person who has surrendered GSTIN but failed to furnish GSTR 10 within 90 days from the date of order of proper officer?

For You Information, I am unable to login to the tax payer's account on GST portal !!!

Kindly revert back.

Dear Sir / Madam,

Whether there exist employer - employee relationship between company and its non executive director/s?

Kindly provide section number also, if the companies Act, 2013 provides so !!!

Kindly revert back.

please tell me taxation of below transaction

sale of agriculture land (situated at Rural Area)
52,65,000/- as per stamp duty
21,00,000/- as per actual valuation

what is tax calculation above transaction

Purchase of agriculture land (situated at Rural Area)
52,65,000/- as per stamp duty
21,00,000/- as per actual valuation

what is tax calculation above transaction

Hello Everyone,

I'm running a small software startup and providing software service to clients outside only India. I don't have any indian client to whom I'm providing any software services. Till last financial year, my turnover was less than 20 lac so I was not worried about GST but in current financial year, I'm expecting it to cross by 20 lac.

I'm receiving all payment via foreign bank account and in foreign currency only.

Should I apply for GST number and does it bring GST liability to my company as well ?

Please help me as I have searched internet thoroughly but got mixed response.

I appreciate your responses here!

Thanks
Neha

I am a franchise educational organisation who provide services for pre-primary school. The franchisor charges GST on the franchise fee and the royalty fee payable on pre-primary school run by my educational institution. Can the payment of such GST be taken as intput credit and utilised against the GST Charged on tuition fee for other taxable coaching run by the same institution?

I am planning on starting a software business with 2 cousins of mine in Bangalore. Each of us are contributing 30 Lakhs each towards it and plan to register a Pvt Ltd company. While the other two have money in their accounts already from earning abroad, I will have to take the money from my father. Now, I have a few questions.

1. My father is taking a loan of 30 Lakhs against one of our property from a nationalized bank. He has the money in his bank account now and the loan is fully disbursed. How do I take it to my account? Can I simply transfer it online or get a cheque from him?

2. Will I be taxed even if my father took a loan?

3. Will the bank ask any questions? I have a personal savings bank account with ICICI Bank.

4. Someone also advised me to make my father a director. My father is not ready because it will create complications for his tax returns. He wants me and two cousins to be the directors only.

5. A lot of places online tell me that I will get notice from IT department and I will have to pay 30% taxes and penalties. Is this true?

Thank you so much for taking some time out to read my queries. I really appreciate the fine work done by this community.

Is it necessary to register under ptrc and PTEC for Charitable Trust in maharashtraIs it applicable to pay PT and File PT return

I am unable to download c forms for year 2015 upto 2016 may which is in the OLD TNVAT portal and unfortunately it has been shut down. Is there any way that I can retrieve these forms as the missed out invoices are of large value.
It will be of great help If anyone can guide me through this.

Thanks

Why is need to pay interest on reversal of credit every month on the basis of taxable and exempt sale??