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mital

10 May 2024 at 13:31

Posted On : 10 May 2024

TRUST 12A 80G REGISTRATION

TRUST INCORPORATION DATE IS 20.09.2022. THERE WAS OCTOBER-23 AMENDMEND IN TRUST 12A 80G REGISTRATION THAT TRUST CAN DIRECTLY APPLY FOR FINAL REGISTARTION INSTEAD APPLYING FIRST FOR PROVISIOANL REGI .
IN MY CASE WE HAVE FIRST APPLIED FOR PROVISIONAL (NOT APPLIED DIRECTLY FOR FINAL REGI) EVEN IF CHARITABLE ACTIVITIES HAVE BEEN COMMENCED.
MY QUESTION IS THAT CAN WE APPLY FOR FINAL REGISTRATION BY SELECTING CLAUSE 2- 12A(1)(ac)(iii
).
or SHOULD WE SURRENDER PROVISONAL REGISTARTION AND APPLY FOR FINAL REGI BY SELECTING CLUASE -4A (item (B) of sub-clause (vi) of clause (ac) of sub-section (1) of section 12A of the Act. )

CA Ankit R Momaya

10 May 2024 at 13:11

Posted On : 10 May 2024

In Reply To :

Inv Correction

You can Amend the Invoices in the month of May 2024. Amendments are allowed upto November 30 or the date of filing of Annual Return whichever is earlier.

HIRENKUMAR

10 May 2024 at 12:07

Posted On : 10 May 2024

Is it mandatory to file GST-7 Nil?

SIR,
Is it mandatory to file GST-7 Nil?

WE GOT NOTICE
SUB:- Notice to return defaulter u/s 46 for not filing return and Intimation of
theProceedings U/S 62 & 83 (Assessment of Non Filer & Provisional Attachment).

Nithyanandaraman L

10 May 2024 at 11:38

Posted On : 10 May 2024

Merchant Exports

Hi Experts,
Having a doubt on concessional rate supply at 0.1% when sold to merchant exporter.
Under concessional rate supply at 0.1% one of the condition is the merchant exporter have to export the goods within 90 days from the date of e-invoice made by supplier and if merchant exporter fails to export within 90 days then supplier cannot avail 0.1% concessional rate, here i want to know the explanation for “supplier cannot avail 0.1% concessional rate” does is it mean that supplier have to pay 18% GST if merchant supplier fails to export within 90days ?

Sach

10 May 2024 at 11:08

Posted On : 10 May 2024

Mismatch in Form 26QC and Form 16C. Incorrect Form 16C generated in TRACES.

For the first time we find that From 16C generated under TRACES is much lower that the Rent paid/Payable and Tax deposited as per Form 26QC.

Form 16C has picked up the rent paid after TDS for the last month and calculated tax @ 5% on that instead of the full years rent and 5% on that ? May be a part of a system change ? Has anyone else faced this ? What can be done as Form 26QC is correct ? Appreciate your help!

Number for example are monthly rent for residential Rs 1 lakh pm. Annual rent Rs 12 Lakhs. TDS deducted and deposited @5% is Rs 60,000. Last months rent paid is Rs 1 lakh less 60,000 TDS ie Rs 40,000. Form 26QC is correct but Form 16C says rent 40,000 TDS paid Rs 2,000.

yogesh vijaykumar shah

10 May 2024 at 10:49

Posted On : 10 May 2024

Withholding tax applicabikity for foreign remiitance for hire of chartered plane

Suppose Indian Private Limited company pays the payment for hire of chartered plane to foreign resident. Whether whether withholding tax/ TDS is applicable for such remittance. Kindly advise.

kollipara sundaraiah

10 May 2024 at 10:48

Posted On : 10 May 2024

Selection of scrutiny provision applicable for un secured loans

Sir,
It assessess itr returns filed sec 44ada and sec 44ad two provisions every year assessess un secured loans different creditors rs:50 lacs amount received
Question:
Assessess selection of scrutiny provision applicable in it act

Dhirajlal Rambhia

10 May 2024 at 09:00

Posted On : 10 May 2024

In Reply To :

TDS on immovable Property-26QB

Refer: https://www.setindiabiz.com/learning/traces-form-26qb-correction-using-e-verify-internet-banking

Dhirajlal Rambhia

10 May 2024 at 08:45

Posted On : 10 May 2024

In Reply To :

26QB filing 2 Buyers 2 Sellers

If you are paying total amount in lumpsum & if the total stamp duty value is same as stated, then answer to each is 34 lakhs for each of the four form 26QB to be filled.

Dhiren Khatri

10 May 2024 at 02:25

Posted On : 10 May 2024

26QB filing 2 Buyers 2 Sellers

Can someone help with below query?

Property 1 (Flat):
Sale value = Rs. 1.36 crore
Buyer = 2 people (equally split)
Seller = 2 people (equally split)

While filling out 26QB for each buyer, what is to be filled for:
1. Total Value of Consideration (Property Value) = Rs. 1.36 crore or 68 lakhs or some other value?
2. Amount paid/credited currently = Rs. 1.36 crore or 68 lakhs or some other value?
3. Total stamp duty value of the property = Rs. 1.36 crore or 68 lakhs or some other value?

Thanks in advance

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