Life insurance

Page no : 2

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 15 September 2020

Than you can contact aaykar sampark kendra or income tax helpdesk, after giving name, DOB ect. details you can get....
Or you can visit your jurisdiction income tax office for same ..
As there is no online facility to get know PAN number.

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

anchal jain (64 Points)
Replied 16 September 2020

Gst annual Return complousry for all normal taxpayer

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 16 September 2020

It's not mandatory to file Annual return GSTR 9 for F.Y 2017-18 and F.Y 2018-19 if your Turnover is less than 2 Crores.

But if you have any mistakes in your GST return (in GSTR 3B ect) like less tax Paid ect. anything...than you can rectify that mistake' through annual return, otherwise not required to be filed if turnover less than 2 crore..

For F.Y 2019-20, there is no such Exemption till date. So, for F.Y 2019-20 is mandatory for all, as on date.

2 Like

anchal jain (64 Points)
Replied 24 September 2020

Income from brokerage in itr how to show either in 44Ada other services or bussiness & proffesion head

1 Like

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 24 September 2020

You can not show commission and brokerage income under presumptive Scheme. means can not show this income under 44AD,44ADA ect.

If amount of brokerage is small and only for this year, than you can show that income as income from others sources.

If Commission income amount is material and Regular, in future years will also come like Regular business income, than its considered as business income and you have to file form ITR 3.

what is his business, means brokerage income on what transaction received ? on property deal or any other things ?

Upgrade to CAclubindia Pro. Subscribe Now!

anchal jain (64 Points)
Replied 25 September 2020

Tds on intrest percentage and amount

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 25 September 2020

Section 194A_interest paid on an unsecured loan, TDS deducted @ 10% if Amount more than 5000 (For interest From 14 May, 2020 to 31 March, 2020 than rate 7.5% reduce due to corona situation)

Interest on FD/RD paid by bank to Customer than TDS @ 10% if Amount more than 40000(50000 for senior citizens) (For interest From 14 May, 2020 to 31 March, 2020 than rate 7.5% reduce due to corona situation)

1 Like

anchal jain (64 Points)
Replied 26 September 2020

31Mar 20 OR 31Mar 21

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 26 September 2020

Sorry, typing mistake..

Yes, it's 31 March, 2021
From From 14 May, 2020 to 31 March, 2021 reduced rate Applicable. You can refer attached circular for all rates...

Attached File : 1464176 20200926084350 reduction tds tcs rates 25 percent.pdf downloaded: 65 times

anchal jain (64 Points)
Replied 26 September 2020

Property deal

Upgrade to CAclubindia Pro. Subscribe Now!

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 26 September 2020

194IA_ If You purchase any property, than if value of property is more than 50 lakh, than you are required to deduct TDS @ 1% (reduce rate 0.75% up to 31.03.2021 only)

anchal jain (64 Points)
Replied 30 September 2020

Error in filed cmp 08how to resolve it

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 30 September 2020

What error you got ?...in which Quarter CMP -08
can you elobrate.

anchal jain (64 Points)
Replied 04 October 2020

Party situated in rajasjthan and his one business place in MP party generate bill lavy of igst but goods supply from MP business Side it's place near me within 20km eway Bill generation required or not