My client has taken franchises of British institute. Invoice is issued in the name of British institute but client collect the amount from student and client pay Royalty plus GST collected from student to British institute. Whether I need to register for GST? If yes, who will pay GST British institute or client?

Dear Expert

A manufacturer of wooden furniture, registered under GST as a composition dealer.
My queries are :-
1. Can he do the Job Works as furniture repair ?
2. What is the GST rate on this service.
Thanks

a company has imported goods on FOB basis but the custom duty and igst on goods imported has been paid on CIF value which includes ocean freight , ocean freight has been paid seperately to the FOREIGN vessel owner , MY QUERY IS WHETHER THE COMPANY IS LIABLE TO PAY GST ON RCM ON OCEAN FREIGHT ALTHOUGH IT HAS PAID IGST ON CIF VALUE ? THE INVOICE DATE IS 18-9-2023 BUT THE VESSEL REACHED INDIA ON 10-10-2023 .

Dear Experts, Is there any way I can chnage the "Date of Creation of charge ". We exeuted a deed of hypothication on 18 th december , the stamp paper is also of same date but while filling chg-1 form i mistakely selected 19 th december. now the form is uploaded.

can any option on GSt portal , form where we can get E way Detail from 1.4.2017. to till date. due to we have got Notice for difference for sale and e way bill issued in year 2018-19.

If I bought an unlisted equity security in 2003 I would not have paid STT as STT is paid only if security is purchased through recognized stock exchange . But now when I sell the security in 2023 , it is listed and I pay STT on transfer. But section 112A specifically says that it is for listed equity shares on which STT was paid BOTH AT ACQUISITION AND TRANSFER . So now how will 112A apply to my securities? Or will section 112 apply instead?

Further I would also like more details about STT and how it is applied.

Thank you .

Rs.250000 rent exempted rent was recorded at back date on 31st march. So there is difference in balance sheet turnover and as reported in GST returns. so am i supposed to show this difference in 9c?

Hi Team,

We have a client who is a Professional claiming exemption under Section 44ADA for his Professional Income. He also owns a house in his home town of Lucknow for which he has taken Home Loan and claiming deduction under Section 24 for Interest Paid on Home Loan and for Principal under Section 80-C.

Since he is living away from his home town in Delhi on rent of Rs 10000, we want to claim Home Rent Paid of Rs 5000/0 Per Month under Section 80GG apart from Interest of home loan which he is paying as above.

We need to know whether he can claim both deduction in respect of Home Loan and Sec 80GG simultaneously in his ITR or will the system stop us from claiming one of them.

An urgent help in this regard will be highly appreciated.

With Regards,
Manik

As I understand, If I gift some money, e.g. Rs 1,00,000 to my major son, any income generated on this money will be taxed in the hands of my son.

As my son has his other sources of income, namely, salary and income from investments, he might gift some money e.g. Rs 50,000 to his mother, i.e. my wife.

My question is whether these two transactions together might be seen as indirect gift from me to my wife and will these attract the clubbing of income provisions?

Are there any suggestions on how to safely carry out such gifting transactions so that we are not inadvertently violating any income tax rules.

Suppose house property (jointly owned by husband and wife) is let out with one time lease amount for 10 years instead of monthly rental, how to calculate the income from house property for FY 2023-24 under new tax regime.
There is also loan taken for the house property in the name of joint owners. What are the tax implications for both?