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Atharv Vyas
Sir i have a bill of 3.00 crores with gst at 18% amounting nearly 50lk and the counterparty has denied to file r1. I have taken input and audited the balance sheet. What to do ?
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File a grievance through GST portal (from your login via User Services) and provide the details of the supplier with invoice copy.
CA Naman Maloo 5 Oct 2019Submit a grievance with GST department along with the copy of bill
12 Oct 2019To claim itc it is more important to have in possession of original tax invoice and you have paid the creditor all amount within 180 days of purchase. So it will help you incase authorities ask you for mismatch. Also keep in possession eway bill. Kindly contact at caitanyavrn@gmail.com
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Abhishek Khanna
I claimed HRA u/s 10(13A) for one part of the year & deduction u/s 80GG for rest of the year when I was unemployed. CPC says it is not allowed, has sent me an adjustment u/s 143(1)(a). I had missed filling form 10BA though. Can both 80GG & HRA be claimed in one FY, in my case?
As per first line of 80GG you cant claim deduction under 80GG if you are claiming exemption u/s 10(13A) eventhough you are salaried for half year.
If you need further assistance feel free to contact me at canamanmaloo@gmail.com
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Abhinay Kumar
Sir/Madam,
I have purchased syndicate bank shares under ESOP in april 2019 at rate of Rs 25.59 and at that time actual price of share was Rs 43. Now organisation is showing difference amt 17.41 as my income in perks and deducting tax on it. I have purchased 18500 shares and due to which bank showing my additional income as 3,22,000 /- due to which my tax is deducting at 20% rate.
In last financial year my total tax was Rs 5000/- and this year due to shares perks my total tax is showing as 60,000/-.
Now at this time share value is Rs 29. Please guide what to do as i have not earned anything from shares. Can take refund by showing actual price on 31st march.
No you cant do that. Its your bad luck that the share prices dropped but in case of ESOP value of share is taken on take of allotment and amount not taken from you is shown as perquisite and you need to pay tax on same but there is a good thing that when you will sell the shares you can take cost price as 43.
If you need any further professional assistance feel free to contact me at canamanmaloo@gmail.com
No you need to claim refund on tax deducted. Tax will be levied if capital gain is realized not on deemed income. Once you realise the income by selling shares, then you can pay tax on that. for further clarity please contact me at acasairama@gmail,com or reach me at 9291318650
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Sumit Veerani
I AM STARTING ONLINE DROPSHIPPING BUSINESS...I WANT TO START AS SOLE PROPRIETERSHIP....AND GST REGISTRATION...WHAT DOCUMENTS I WILL NEED ??
NOTE-I DONT HAVE ANY OFFICE...I WILL WORK FROM HOME
Yes you can register GST business from your home but you need to first decide whether its a trading business or service.
If you want to take professional advice you can mail me at canamanmaloo@gmail.com
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Akshay
If I sell a property of appx. Rs. 10,00,000 (2001) at it's current market price: appx. Rs. 31,00,000; how much tax would be deducted (in illustrated numbers calculation please) if I choose not to invest in capital gains bonds or schemes?
Fair Value of Consideration = Rs. 31 lacs
Indexed cost of acquisition = Rs. 28.90 lacs
Long Term Capital Gain = FVC – Indexed COA
= Rs. 1.10 lacs
Capital Gain Tax = Rs. 1.10 x 20%
= Rs. 22000
Cess on CG tax = 22000 x 4%
= Rs. 880
Total CG Tax = Rs. 22880
Indexed COA = 10 lacs x 289 / 100
Assumed that property is house property, purchased in FY 2001-02 and sold in FY 2019-20.
If the assessee purchases a new residential house property using the capital gains, he can save on capital gains tax under section 54.
