23 October 2019 at 15:55

INCOME TAX ON GSTR 3B OR GSTR 1

DUE TO SOME PROBLEM..
IN THE YEAR 2018-19.
DATA ON MARCH 2019
WE HAVE FILLED OUR GSTR 3B FOR RS 40,20,000
AND AS PER GSTR 1 IS 1,10,50,500.

AND WE HAVE PAID OUR ALL DUES IN APRIL 2019

NOW QUESTION IS ON WHICH INCOME TAX TO BE FILED??
MY CA SUGGESTED ME THAT FILE ON 40,20,000
AND SOMEONE SAYS THAT FILE AS PER GSTR 1..



23 October 2019 at 12:13

For HRA

Dear Sir/Madam,

Please suggest me. Can I claim HRA in ITR if I had not claim with company. Can I claim or not.



23 October 2019 at 12:11

How much deduction can be avail.

Sir

My Book profit in partnership firm is Rs 313919.
Now salary of total partners is 108000.
An interest paid to total partners is 94100.
Now taxable income will be (313919-108000-94100)=111819.
Is this right as per new rule , how much amount of salary taken for partner to get deduction.
please suggest.



My Client Wants Filing income tax return of previous two years on this assessment year by u/s 119(2)(b). But he has no any TDS or TCS or any other Claim in those previous assessment year. so, can he submit his Income tax return of previous assessment years , u/s 119(2)(b)?



23 October 2019 at 06:14

COMPANY INCOME TAX RATE

A company incorporated in 2017-18 will get the benefit of 25 % concessional rate in the year FY 2018-19 ?



22 October 2019 at 23:44

Rectification U/s 139 (9)

Dear Friends,

One of my friend has received a rectification notice from Income Tax Department fo FY 18-19 return.
He had received Rs.567000/- as professional income from a company which deducted 10% TDS and deposited money in his account. To earn this income he had paid around 3 lacs to some other professionals, after paying the amount actual income of his comes to 2 Lac Rs. In the return we have shown 2 lac as his income and TDS 56700/-. Here Income Tax Department says that the total income to be shown is Rs. 567000/-. How shall i make the Income Tax Authorities understand that only Rs. 2 Lac is his taxable income. Please help me in this. I need solution for this.

Regards,
Yajuvendra Rawat



22 October 2019 at 22:17

Non resident taxation

Mr.X , a Non resident, transfer money to Mr. Y resident of India, say amount 10 crores, Y uses the money for his business and remitted the amount of 10 crores after getting profit to Mr.Z, what will be the tax treatment in hands of Mr. X, Y, Z?
X and Y are not related party, X and Z are related party.
Explaination with provision is helpful.
Thanks in advance



22 October 2019 at 21:02

LTCG ON HOUSE PROPERTY

We have purchased a plot worth Rs 800,000 on 25-08-2017, and constructed house on it. Cost of construction of house was 35,00,000 and now i want to sell it 50,00,000. Query (1) whether income will be considered as LTCG or STCG. (2) If we purchase new house property can we claim deduction u/s 54. Thanks in advance.



22 October 2019 at 16:48

Gratuity in ITR-5

Dear All,

How will I be able to show gratuity in itr -5, as the opening balance was 70 lac now the closing balance is 65 lac so I have passed a reverse entry of 5 lac i.e. in credit side of P&L. So now how will I show 5 lac in the ITR as it is increasing my profit by 5 lac.



22 October 2019 at 13:03

In Tax Audit Report Clause 27(a)

Whether ITC details of GST is required to be mentioned in Clause 27(a) of form 3CB3CD report in case of client having GST Registration with regular basis.





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