For the purpose of tax audit u/s 44AB, Whether T/O should include VAT or not, please clarify the reason if included and if not included........?

Hi,

I sold my flat in Ghaziabad for around 22 Lakhs in Oct 2017. After indexation the Capital Gain works out roughly to 4 Lakhs.
I am purchasing a new flat in Kolkata from a Builder for 11 Lakhs. I paid total 7 Lakhs in Nov 2017 to the Builder. I have collected money receipts for the payments and Sale Agreement signed by the Builder.
I have to file my Income Tax Return by 31 Jul 2018 for the year.
However, Possession of the flat and Registration (stamp duty etc.) will be delayed beyond last date of filing tax return i.e possibly to end of 2018.

My question is the following:
1. Is it Correct that since my capital gain is only 4 Lakhs and I have already paid 7 Lakhs to the Builder for the new Flat, I can go ahead and claim Section 54 Tax Exemption in my income tax return for the year before 31 Jul 2018, even though I will not have possession and registration by then ?
2. Is it correct that in question 1, I do not have to pay any tax on the capital gain due to Section 54 tax exemption ?
3. Is it correct that Possession or Registration (stamp duty payment) are NOT Must for claiming Section 54 Tax Exemption ?

Regards,
Snehashish Ghosh

Sir,

We are a textile exporter. On July 3B return filing I did a mistake as I put input tax credit into IGST instead of CGST. Is it a major mistake? Is there any questions arrive from the GST authorities due to applying for the RFD01-A? kindly guide me.

IF PROVISION FOR AUDIT FEE WAS MADE IN ASSESSEE'S BOOKS ON 31.03.2017 (ON MERCANTILE ACCOUNTING BASIS) AND BILL FOR AUDIT FEE WAS RECD. ON 31.10.2017 AND GST CHARGED BY AUDITOR ON ABOVE BILL (CA'S ACCOUNTS ARE PREPARED ON CASH BASIS) THEN WHETHER ASSESSEE CAN TAKE CREDIT OF GST PAID ON THAT AUDIT FEE BILL. BECAUSE ASSESSEE HAS ALREADY BOOKED EXPENSES IN PREVIOUS YEAR AND MADE PAYMENT OF BILL ONLY IN CURRENT YEAR. PLS REPLY HOW ACCOUNTING ENTRY PASS IN BOOKS OF ASSESSEE.

Our firm got statutory audit of 15 years of a govt. Co. From 2000-01 to 2015. My query is that can I choose balance sheet format as per companies act 2013 for all year because audit report will be signed in 2018.
Pz help with legal ground my I'd :rsjaggi12@Gmail.com

Payment of stamp duty purchase of new house allow deductions under the section of 80 C

My friend has been filed his return for the A.Y. 2014-15 but not send the copy to CPC till date and Also not been filed his return for the A.Y.2015-16 onwards. Now wants to file return for A.Y.2015-16 to 2017-18 (all 3 years). but during filling of return for A.Y.2015-16 massage shown time expired for that period.

Please help, how can i file return for a.y 2015-16. as he required for loan purpose for 3 yrs. return. Can he file return for A.Y. 2014-15 also.

Thanks & Regards

we hire a gta service from un registered , he issue consignment note only.

should we issue self invoice ?
if yes then kindly provide format for the same.

kinldy help

Dear Sir / Madam,

Please share format of an Invoice to SEZ Unit where Supplier has neither LUT nor BOND.

Also please let us know if it is correct to charge IGST in such case and claim refund later.

Regards,
Rachana

Sir,
I have applied for GST practioner registration in GST Portal. But the error message received for PAN and AADHAR name is not matched. Since I have applied the name Change in aathar e-seva and waiting for it.
Now my querry is, will I continue my practitioner work?. and will I mention “Practitioner” name in my visiting card?.