CA R SEETHARAMAN's Expert Profile

Queries Replied : 42596

I am a retired Executive Director/Finance of a Navratna PSU.

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Mani Vannan says : Goods Sold to Registered Persons in GSTR-1
Where Can I enter Exempted Goods Sold to Registered Persons in GSTR-1 ?. Do i need to enter them in 8th tile(nil rated,exempted and non-gst supplies) or Do i need to enter them as GSTIN wise by selecting "0% Tax Rate " in 4th tile(B2B supplies) or Do i need to enter them in both 8th and 4th tile ?

T E SOUNDARARAJAN says : 44AD
Can a Pvt Ltd company director claim benefits of Presumptive tax benefit under 44AD. He is not professional ly qualified. Butgiven an extraordinary services to the company. Co is ready to deduct TDS@10% UNDER 194J AND PAY GST UNDER RCM.

Hnr1593 says : showing more profits in FnO trading to avoid audit
I made loss in FnO trading and the turnover is around 40 Lacs. Since profit is less than 6% of turnover, i think the audit is required, But i don't want to carry forward the losses to avoid tax audit as i don't know the process and charges for it. In this case, is it ok if i file my trading profit as more than 6% of turnover and pay the applicable tax on that? Will the ITDep still mark my return for scrutiny even though i pay the tax for shown profit?

Hnr1593 says : showing more profits in FnO trading to avoid audit
I made loss in FnO trading and the turnover is around 40 Lacs. Since profit is less than 6% of turnover, i think the audit is required, But i don't want to carry forward the losses to avoid tax audit as i don't know the process and charges for it. In this case, is it ok if i file my trading profit as more than 6% of turnover and pay the applicable tax on that? Will the ITDep still mark my return for scrutiny even though i pay the tax for shown profit?

Paresh B. Rawal says : Section 270A reply
Can you please forward me letter format for show cause notice for reply for notice under section 270A on capareshrawal@yahoo.co.in. Would be of a great help