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DSC Requirement for filing ITR (Individual Tax Audit case)

Assesse (Individual) has Income from Consulting Service. Due to the reason that his Profit falls below the 50% of Gross receipts, he is undergoing Tax Audit. I need a clarification about DSC, is he required to get the DSC to file ITR (As the act uses the words " IND/HUF who are required to get their books Audited .....") OR It is like a normal individual case. ..

Posted in experts |   1 comments |   1 Views


Long term Capital Loss from previous year

I incurred Rs 94970 of long term capital loss from sale of equity shares/funds in financial year 2018-19 and the same was provided for set off to future years in the ITR. Now in the current year (FY 2019-20) there is no net profit of LTCG from equity income chargeable to tax to off from that loss. Should I still bring forward my previous year's LT Capiata loss of Rs 94970 to the ITR for FY 2019-20 to renew the provision for future years? or is it valid for setting off as it is now? If the loss ..

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Gst refund

Hello everyone, my one of friend is engaged in artificial jewellery business through Amazon, Flipkart.etc. on gst rate is 3% but Amazon and Flipkart charging the heavy commission etc. on sale made by friend through them, on which they charging gst @18% and this gst is claimed as input by my friend against the output liability but after adjustment there is a balance in electronic credit ledger and he wants claim the refund of that, now my question is that what should option I should select in r..

Posted in experts |   3 comments |    Views


Capital Gain

Hi There, I have a question related to capital gain on my property sold. I purchased a flat by entering into an agreement of sale (Notarised) in Nov 2013 for 28 Lacs and got the possession in Oct 2016. The sale deed was not registered at this time but was done in Jun 2018 (Stamp duty paid 3 Lacs). I sold this flat in Dec 2019 and the sale deed was registered for 40 Lacs. My question is what will be the nature of capital gain here- Long/Short term? Amount of capital gain tax for AY ..

Posted in experts |   3 comments |    Views


ITR's death of taxpayer

Dear Experts, Mr.A is dead. Mrs. A wants to file Mr.A's income tax return as a legal heir. For that 1. Affidavit for appointing as a legal heir by herself (apart from the Death certificate, Pan card of Mr. & Mrs.A) is enough while registration as legal heir in legal heir income tax profile. 2. Whose Bank accounts have to give in the return which has to upload in legal heir income tax profile...

Posted in experts |   2 comments |    Views


RCM

Please tell me the whether the GST is applicable on the renting of the movable properties like plant & machineries, computers, furniture etc….. ..

Posted in experts |   12 comments |    Views


Igst reverse

By mistake we took IGST ( Input credit ) 98900.00 excess for the month of October,20 in GSTR 3B return, now this November,20 GSTR3B return we want to REVERSE BACK above IGST (input credit).Please suggest us how many interesting will be payable against this ,any others charge i.e.any panelty also will be payable against this ..

Posted in experts |   1 comments |    Views


Income Tax Return for Salary with commission income

My Client is working as a sales man with a Car Dealer. He receives Salary income from dealer and commission on sale of car from dealer. He also receives commission on sale of car from the car manufacturer. Which return he should file? Can he file ITR-1? ..

Posted in experts |   3 comments |    Views


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