Query for A.Y. 2018-19
●I have taken mortgage loan against land(Asset A) of 700000 @10.80% for construction of another house property (Asset B ).
●Construction has been completed within 1 year from the date of loan taken.
●The amount of loan was only used for construction of house property.
● Now i am generating rental income of 30000 per month from Asset B.
●Whether am i eligible to claim deduction u/s 24 for interest repayment and deduction u/s 80C for principal repayment.

A company is engaged in two kind of services. 1 ) construction 2) transportation Can input of construction service be used in set-off of output Gst of Transportation service? thanks in advance

Sir,
In AY 2015-16, I have paid income tax for the receipt of share of amount against sale of property. Part of the amount was credited in my Bank account only in 2016-17 (in April 2015). Now in my ITR for AY 2016-17, there is a query for the amount credited in the bank account. Shall I reply that this is the amount received as against the transaction shown in my ITR for AY 2015-16 and tax has been paid for that transaction?

Dear Sir/Madam,

Can trader of tobacco or pan masala or cigarette opt for composition scheme?

If yes then whether trader is liable to charge cess on the same?

Thanks & Regards
Nirmal Dave

Dear sir
I need some clarification list out below please give any one solution..
we close the one account for bad debts entry passed to close the account due to customer not give the money, so we close the account in last financial year. But he sent the amount in this financial year how can I adjust the amount .

If we pass provisional entries for audit Fees, Postage & Telephone
for the period belonging to F Y 2017-18 as on 31.03.18-
The bills will be raised, with G.S.T., during next F Y 2018-19.
then what will be taxation status (taxable or not) of these expenses in F Y 2017-18 under G.S.T.

Sir, is past untaxed income of previous year taxable in india ?

Facing problem regarding accounting for a transport company. The company books freight once the trip is complete. But starts incurring expense like fuel, driver advance etc from start of trip. Now in month of march, there are running trips which wil be complete in April. So how and in which FY to book exp related to such trips....plz guide as per income tax purpose also...

I am contributing for ppf every year for last 14 yrs and taking benefit of 80c. but I have not shown interest received as exempt income in ITR in any year. Now when I will get maturity amount after one year. It will include principal amount and interest. My query is can I show addition of all 15 years tax free interest in my next years ITR. which section should I show this? should I show principal amount also along with int. please help

Hi,

I'm a service provider providing freelance game development service to Valve Inc.(Foreign Entity). The amount (Less than 20 Lakh) is received in foreign currency as a % of sales of the game i work for.
Now my question is
Am i liable for GST registration and payment of GST on RCM basis. Or is it exempt under export of service

Thanks