Gurwinder
06 October 2018 at 10:07
dear sir one of my supplier has not filed his gstr-3b & gstr-1 since april-18.
he has issued us tax invoice & we have claim input on that basis.
we asked him to file return & deposited tax then he said he will do soon.
what should i do now.? please help
Shray Narula
03 October 2018 at 19:05
How can i claim homeloan tax rebate where my wife is main applicant and I'm co applicant,we both will pay the monthly EMI but my wife is the sole owner of property. ?
Senthil R
03 October 2018 at 15:28
Dear Expert
Kindly send me a resolution format for new trustee appointment draft.
Thanks & Regards
Rahul
26 September 2018 at 01:11
I had received an IT scrutiny notice us 143(2) in my email on 19th Dec 2017 for AY 2016-17.
The notice was dated 24/08/2017 and gave me time till 05/09/2017 to reply. But, I received the notice only on 19/12/2017. Since, it was a wrong time lapsed notice and no e-proceedings were pending in my e-filing account, I didn't reply to the notice last time.
Again, I have received 2 notices from two different jurisdictional IT AO. One notice was under section 142(1) dated 14th Sep 2018 and gave me time till 20th Sep 2018 to reply. There was no e-proceedings for this notice. Again I received one more notice u/s 143(2) on 17th Sep 2018 and has given me time till 2nd Oct 2018 to reply. This time, there is an e-proceeding for the same(sec 143(2) notice).
My query is,
1) Can I ignore the time lapsed 143(2) notice? What are the implications?
2) What are the provisions of Sec 292BB in this case, since I have received time barred 142(1) / 143(2) notices. Should I raise an objection to the time barred notice now, before assessment completion or I can ignore the notice now and raise the objection later?
3) What can be done, if I get notice again u/s 148 later?
Please clarify these queries.
Thanks,
Rahul
Maheshvjti
24 September 2018 at 21:40
Hi,
I have a query related to Tax exemption(FY17-18) on Home Loan Interest for rented flat. I understand that
In case of non-self occupied property, the interest paid is reduced from the Rent gained to arrive at the Income/loss from House Property. In case the Interest paid is more than the Rent earned it will result in Loss from House Property. This Loss is allowed to be set-off with Income from any other head.
The Finance Act 2017 announced on 1st Feb 2017 has put a restriction to the maximum amount of Loss under head House Property that can be set-off from other heads of Income. From Financial Year 2017-18 onwards, Loss of a maximum of Rs. 2 Lakhs is allowed to be set-off with Income from other heads. The amount which is not set-off shall be carried forward to future years.
Is this 2 Lakhs ( Maximum limited loss) further reduced from Rent gained to arrive at the Income/loss from House Property?
Your prompt reply is awaited.
DHARMESH DHARAMSHI
23 September 2018 at 13:53
Respected Sir
I have a resident property in mumbai , previously it was a trust property I were tenants and now the property is redeveloped and i have received Passion in year 2017. now if i have to sell the said home and buy new home , what is the waiting period to save tax on sold property
and buy other property against that amount.....
Anonymous
20 September 2018 at 18:43
Dear Members,
Assessee is an employee of Goverment of India Enterprise for last 37 years and still serving in the said sector, He is regularly filing his Return of Income by showing income under the head salary,
Annual Salary of Assessee Total Income (after deduction Under Chapter VI-A) as per Form 16 comes to the tune of Rs.7,98,270.
Assessee was in receipt of notice U/s.143(2) of the Income Tax Act, 1961 regarding cash deposit during demonetization period F.Y.2016-17 showing cash deposited during demonetization period Rs. 12,47,500.
You are requested to guide me that a Salaried Employee of Government of India can maintain cash on hand and can a Assessing Officer treat his cash on hand as Income From Undisclosed Source of Income
Ajay Agarwal
20 September 2018 at 08:01
My Query -
If a land owner (husband) transfer/gift this property to his wife (house wife) without any consideration . And his wife sell this property to anyone with consideration. Further wife gives this amount (sales consideration) as loan to husband and receives interest on it.
Questions - 1. sales consideration taxable in hands of wife or husband.
2. can wife give sales consideration amount to her husband as loan.
3. If yes, interest taxable in hands of wife or husband
4. If no, can wife give sales consideration to her husband as a gift.
5. can wife give this sales consideration to her son as a loan and receive interest on it. 6 then interest received from son taxable in hands of wife ir husband.
Thanks
Surendra
04 September 2018 at 16:10
Query on GST:
What GST would be charged – CGST + SGST or IGST, in following scenarios:
1.
Person having immovable property – registered in Maharashtra, having place of business in Maharashtra.
Location of the immovable property – Karnataka
Person who has taken the property on rent – registered in Maharashtra, having place of business in Maharashtra.
2.
Person having immovable property – registered in Maharashtra, having place of business in Maharashtra.
Location of the immovable property – Karnataka
Person who has taken the property on rent – registered in Karnataka, having place of business in Karnataka.
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