Anonymous
03 July 2023 at 14:36
Supplier uploaded March invoice on 14th April 23 in his GSTR1. Invoice reflected in GSTR2A but not in 2B. If we take its ITC in our GSTR3B and file our returns. What is penalty for it and under which section
Anonymous
30 June 2023 at 15:18
QRMP dealer has not filed GSTR3B for March 23 returns. When will department cancel GST suomoto . After 1st July or due date of filing reurns, 22th July. please clarify
Anonymous
26 June 2023 at 17:27
Can an unregistered Trust apply for its First PAN after resignation of some of the members mentioned in the Trust deed?
Jose Kottanani
22 May 2023 at 02:34
Is it mandatory to get certificates of income source from the person who is buying your agricultural land in Kerala
venkat batchu
20 May 2023 at 02:38
Sir, firstly let me thank LCI for providing me authentic information from time to time for the last 2 decades to me Now, i want to know if GOI is going to allow unregistered small business men to enrol on ecommerce websites like AMAZON, ONDC etc.. this information has come in google search that after oct 23 it going to be allowed. may please reply.. as i am planning for my small business in navi mumbai
satyam
Anonymous
12 May 2023 at 11:14
Interest Demand by Tax department on lost DD, sent to department via Courier
It is come to knowledge that the DD sent by courier 2 years back was not received by department. Taxes are immediately paid via fresh DD once get to know. Now department is asking for interest. we have not used that money for those 2 years, it was some where in suspense of bank. Is the demand of department for Interest tenable.
Anonymous
10 May 2023 at 13:24
I HAVE DEALER WHO WORKS AS A PRINTING JOB WORK FOR OTHER TEXTILE MANUFACTURES AND LEVY VAT @5.25% ON IT HIS TOTAL TURNOVER OF RS 80.00 LACS AND AS PER GOVT OF HARYANA 25% OF THE TURNOVER OF THE DEALER ie 20.00 lacs IS TAX FREE DEPT SAYS ITS OK
BUT I REVERSE THE ITC ON PROPORTIONATE BASIS .
PLEASE SUGGEST THAT THE WHETHER THE DEPARTMENT SAYS OK IF WRONG
SUGGEST ANY JUDGEMENTS ON IT OR YOU VIEWS ON IT
Rajeev Bhardwaj
05 May 2023 at 17:09
Hi All,
Is anyone is having case law on sale of Used/Old Car in chandigarh or punjab.
Regards
Shweta
01 May 2023 at 08:49
Mr A and Mrs are husband and wife.
Mr A gifted shares to Mrs A worth Rs 50,000 in 2010-11
Expecting the shares to be sold in current financial year, Mr A and Mrs purchased a house property (joint ownership between Mr A and Mrs A) for Rs 5 Lakhs in March 2022. Mr A provided Rs 2 Lakhs From his personal funds and Rs 3 Lakhs through joint home loan.
Mrs A sold the shares in June 2022 for Rs 5 Lakhs which is also the long-term capital gain for her. The sale consideration from shares was credited in her account and the home loan was disposed off.
Income from sale of shares is to be shown in the ITR of Mr A after application of clubbing provisions of section 64(1)(iv)
Mr A wants to claim exemption under section 54 F for investment done by both Mr A and Mrs A, in purchase of joint property, (Mr A provided Rs 2 Lakhs from his personal funds and Rs 3 Lakhs through joint home loan which was disposed from sale consideration of shares), the money was credited in bank account of Mrs A and loan was disposed through check.
Mr A and Mrs A want to opt for co-ownership in proportion to their investment and also claim 54F for both Mr A (transferor) and Mrs A (transferee) investment.
Query - Whether or not eligibility claim of Section 54 F will be accepted by the Income Tax department regarding joint investment / joint ownership of residential house with both Mr A (transferor) and Mrs A (transferee) eligible to claim section 54F on sale of shares.
Please support with relevant case laws, if any.
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Income tax
I shifted last year to Singapore in Dec 22 for
Job
Pls advise when filing IT return in India for the FY 2022-23 I will be paying tax for income earned in India from April -Nov 22
My question is for the income earned after my shifting to Singapore airlines i.e from Dec 22 to Merch 23 is taxable in India?
Please note from Dec 22-March 23 I will be paying tax in Singapore also.
Appreciate your kind advise