Good evening sir, I registered CA IPCC under direct entry, and I am doing 2nd year articleship with remaining 8 months to complete 2nd year training. I took 2 months leave for nov 2016 IPCC examination thought i am unable to pass the exam , so that i want to terminate articleship in coming may 2017 and i want focus on studies to pass both groups in nov 2017 attempt, I am not eligible to terminate under any of ICAI grounds, please kindly help me how to terminate articleship & to rejoin after passing IPCC. THANK YOU.

Dear Experts

First Query

If my on say 21-Feb-19, my aggregate turnover for FY 18-19 exceeds rs. 50 lak when I issue bill of supply at 10:00 AM, then do I have to issue for the next supply I make Tax Invoice and charge GST and collect it from customer?

OR

can I for the day of 21-Feb-19 continue to issue bill of supply and come within preview of normal GST scheme from next day.

I am asking coz the word used in section 10(3) is with effect from day and not w.e.f. moment.

Second Query
under section 10(5) it says that if someone wrongly avails of composition scheme than he has to pay GST as would have been applicable had he not applied for the scheme. my question is will the composition tax be adjusted against his GST liability or what he has paid is gone and will not be adjusted?

regards
shivani

Dear Sir,
An Assessee who is in Profession and showing net income Rs. 35.00 Lacs and net profit after deducting all expenses is 60%. So he has the option to file ITR 4 (Sugam) but if he wants to file ITR 3 can he file that Return for A.Y. 2017-18 because he maintains books of accounts.

Thanks,
Abhishek.

Dear Sir,
An Assessee who is in Profession and showing net income Rs. 35.00 Lacs and net profit after deducting all expenses is 60%. So he has the option to file ITR 4 (Sugam) but if he wants to file ITR 3 can he file that Return for A.Y. 2017-18 because he maintains books of accounts.

Thanks,
Abhishek.

Dear Sir,
An Assessee who is in Profession and showing net income Rs. 35.00 Lacs and net profit after deducting all expenses is 60%. So he has the option to file ITR 4 (Sugam) but if he wants to file ITR 3 can he file that Return for A.Y. 2017-18 because he maintains books of accounts.

Thanks,
Abhishek.

A male assessee who is aged about 77 years and he is Advocate by profession and doing only Chamber works. His annual income by way of Advocate Profession is less than Rs.80,000/= - It is not the constant income which will be earned every year. He has income by way of pension which is constant to an extent of Rs.1,45,000/= per annum.

In this situation, Whether Section 44AA will apply to him? If so, what are all the books of accounts should be maintained by him?

Clarify that whether Advocate profession is a proprietary profession or specified profession or any other?

Which ITR form should be used by him for the Assessment Year 2017 - 2018?

Sir, there was a mistake in the TDS Return filed. We have wrongly mentioned the name of a person instead of another in the tds return. so what should we do to correct the mistake so that the right person will get the tax credit instead of the one who has been mentioned in the return? Should we revise the return or file online correction statement?

Hi,

I was wondering that after the introduction of GST, will we be able to claim GST as a company if we have:

1. Restaurant bills
2. Telephone bills
3. GST paid under car purchase (under company name)

1. One of My client liable to deduct tds u/s 19H i.e. TDS On Commission. I want to know the thresold limit is applicable for payment made to one party or for all party to whom payment is made?

2. If payment made partly in may 2016 and partly in march 17 what would be the threshold limit or at which % tds deductible?

3. If Tds deductible for March 2017 and same has been paid after 7th April whether late payment interest is applicable on tds?

if individual person has bought flat Rs. 78 lacs . there two seller (brother-sister) and two buyer (husband-wife) as per sales agreement . sales agreement made on 2.03.2017. first payment made on 8th march and second payment made on 2 Apr and remaining two installmentl wil be made (including housing loan amount) in month of may . but seller want TDS certificate form 16B at the time of last payment which will be done in may 2017.

please confirm my understanding

each buyer should deduct 19500 in favour of each seller
there wlll be 4 challan and 4 certificate
FY will be considered 2017-18 .