how to book income in transport business for example if transport commission agent received Rs.25000 as a fare and give 24000 to truck owner as fare. so in this case his income recorded as 25000 and expense 24000 or net income 1000. all transaction perform through bank.he is required to maintain books of account or not?

A person is registered in Service tax, but since last 2 years he is not providing any taxable service. He is now a full time employee. Is he still required to migrate to GST, when it is unlikely that he will provide any taxable service?
Is it compulsory or mandatory for those who are registered under service tax to migrate to GST?

Sir,
I sold a house in Feb 2017. Out of the sale proceeds I bought a second hand flat in Feb 2017. Am I allowed to invest further from the balance sale proceeds in a land to avoid capital gain tax? Kindly advise.
Thanks
Regards
S Karthik

Hello, can any assessee claim deduction u/s 80D for himself in the capacity of INDIVIDUAL and in the capacity of HUF. For ex. if a person paid insurance premium for himself of Rs 25000 and also his HUF paid premium for him of Rs. 25000 than what can be the treatment.

I have a valid service tax registration no. Since i didnt earn any income for the perod April-September 2016, i have not filed the service tax return. Is it mandatory to file nil ST3 return and if so is any penalty chargeable for late filing ?

profit on sale of investment rs 5000. the company doesn't deals with investment. this is a STCG OR LTCG which one is right.

GROSS TURNOVER OR GROSS RECEIPTS 2895879
PRESUMPTIVE INCOME UNDER SECTION 44AD (>= 8% OF E1) 231670 am using ITR_4S to file income tax return but when finally iam going to convert into xml it is showing the message like this " If the income is less than 8% of gross receipts it is mandatory to have a tax audit under section 44AB, please use the regular ITR 4 form. please clarify my doubt and help me in filing of return, waiting for your early compliance and oblige.

Deduction under 24(b) for interest on repair of property is upto ₹30000. But if the interest is not paid for 2-3 years will it add upto the amount of deduction in current assessment year

For Calculating Book profit for Section 115JB deduction of Lower of Brought Forward Loss or unabsorbed Depreciation is to be given.

there is a Company whose figures are given below please tell me whether any deduction is available for MAT Purpose as in the year ending 2017 the company is having Net Profit of Rs. 1000000/-

Part.......2012................2013.................2014........2015......................2016
PBD ......58280.00.....720684.00......735195.00.....-283136.00.....-542700.38
Dep........-99168.00....-582198.00....-582198.00....-415558.00.....-421065.00
PAD.......59112.00......138486.00.....152997.00......-698694.00.....-963765.38

Please suggest me that any deduction can be claimed for calculating Book Profit as per Section 115JB of the Income Tax Act, 1961.

Hi,

We deal in inverters. Our R& D at Bangalore and our head office in Haryana. We have TIN in Bangalore but we are not registered in Haryana. We are waiting for GST implantation. We should apply for registration in Haryana under GST or we should deal from banglore? Because material produce in banglore and under GST we can input can be claimed interstate tax also.

Kindly advice.