Sir, Registered NGO receiving grant under CSR to construct class room and toilets at Government School. This NGO is registered under Income Tax section 12A and GST. My query is- 1. Is this NGo is liable for service tax on grant? (which amount on total grant or excluding construction cost.) 2. NGO should claim input tax (revers charge) on material purchased for that activities? 3. If no any tax liability than which section is applied for exemption?

As per section 44AD an assesse opting for presumptive income cannot claim depreciation and has to reflect fixed assets at WDV , that is after deducting depreciation but what will be the accounting effect of depreciation while writing books of account?

Dear Sirs,

Please Suggest for accounting entry for the following details in compliance with applicable (AS and laws)
Ex showroom price of Car 13,80,967 (After TCS Deduction @ 1% Rs. 13672.94)
Life tax 1,42,000
Insurance charges 44885
Processing fee and stamp duty for obtaining car loan from bank 3221
Accessories 15000
Other handling charges 1000

If an assesse has no other bank account other than a joint account with her spouse... Now my question is whether is it require to mention details of that bank account while filling income tax return..

i am paid tds through on line u/s 194I by mistake but actually to be paid u/s 194j.Can i Adjust that mistake through ONLINE mode. If yes , please send the procedure for online correction

Dear Sir,

Provision for expenses as on 31.03.2018 and service provider under GST Reg. Can we make provision of expenses along with GST amount, and liability of GST to be paid Gov. A/c!
Pl. confirm

Thanking you,

L.D.Dharmadhikari

Sir
I am running a private limited company main operation being know-how licensing sometimes with ipr sometimes without ipr. When ever we solve a major production problem then we ask for royalty from sales and dont charge our services on one time basis.
In one such case with our technical support another private company solved their major production problem and reached market. they will now pay royalty to us on monthly sales.
Q1. What is the gst rate for such royalty payments from a private party to another private party both with gstn registrations.
Q2. Since only the production setup knows how much sales happens every month, can they remit royalties to my account and pay GST on it ?
Q3. How to implement this in GST rule book .. in other words i cant raise an invoice .. they cant raise a invoice either .. hence how to implement this
Regards

I sold my flat in Aug 201t at 44,000,00 which was bought at 14,00,000 in 2007 March. As per my calculation the capital gains after indexation is about 15,000,00. I have used Rs 20,000,00 for a new flat in Dec 2017.will there be any capital gains tax further/

As per Section 44AD(6) of the Income Tax Act, 1961, the
provisions of Sec.44AD are not applicable to – (1) persons
carrying on professions that are referred to in
Sec.44AA(1), (2) persons earning income in the nature of
commission or brokerage, and (3) persons carrying on any
agency business.As seen from the return of income filed,
the nature of business code mentioned is 00301 General
Commission Agents, which falls in the categories
mentioned above. Hence, the provisions of Sec.44AD are
not applicable, in your case

As the provisions of Section 44AD are not applicable, in
your case, the claim of computing profits and gains of
business on presumptive basis, under this special provision
is not allowable. Hence, the above defect has to be
corrected by way of computing the profits and gains of
business under the normal provisions and not under
Sec.44AD and offering the same.