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    29578 DIRECT TAXES - (  TAX TREATMENT FOR UNREGISTERED TRUST / SOCIETY )
    Sir, A Society registered with the sub registrar of Societies but not with Income Tax us 12 A of the Income Tax Act. Kindly advise Query 1. When Audit of the Society is compulsory? Whether its , when receipts of the society exceeds Rs.50000-? If th. Continue ..

    By: AJAY JAIN  |  Date: 18/04/2018   
    Total Answers : 3  |   View Answers
    29579 DIRECT TAXES - (  TAXATION OF UNREGISTERED TRUST )
    we have an unregistered trust and having gross receipts Rs. 5.00 lacs and incurred exps. Rs. 3.00 lacs against receipt i.e net surplus is Rs. 2.00 lacs whether any benefit will available of tax slab or we have to pay MMR on 2.00 lacs

    By: SANDEEP KAPOOR  |  Date: 18/04/2018   
    Total Answers : 1  |   View Answers
    29570 DIRECT TAXES - (  LATE FILING FEES )
    For AY 2018-19 an assessee having Gross total Income Rs.3 lakhs and Deduction 80C Rs.1 lakh. Total Income Rs.2 lakhs. Filing date is say 1st Nov 2018. 234F fees is NIL ? or Rs.1000? .

    By: ANAND B  |  Date: 17/04/2018   
    Total Answers : 3  |   View Answers
    29571 DIRECT TAXES - (  234F LATE FILING FEES )
    A partnership firm files a NIL income on 1st Nov 2018 for AY 2018-19. Whether Rs.1000 fees under sec 234 F will be levied?

    By: ANAND B  |  Date: 17/04/2018   
    Total Answers : 3  |   View Answers
    29572 DIRECT TAXES - (  TAX CONSEQUENCES )
    A resident investor wants to invest 50perC in shares of Pvt Ltd, that Pvt Ltd is having 25perC shareholdings of NRI. What will be the better way for Pvt Ltd - 1) BuyBack 2)Loan taken and shares issued 3) something else

    By: Pavankumar R. Nipanikar  |  Date: 17/04/2018   
    Total Answers : 0  |   Post Answers
    29575 DIRECT TAXES - (  DEPRECIATION )
    A Company has discarded some assets. It has not sold but only scrapped. Whether the WDV of these assets has to be deducted from while calculating depreciation under IT Act? Sec.32(1)(iii) stipulates it. Under IT Act, individual assets WDV may not be. Continue ..

    By: balasubramanian  |  Date: 17/04/2018   
    Total Answers : 1  |   View Answers
    29576 DIRECT TAXES - (  12AA TRUST CORPUS )
    Donation received by a 12AA Registered Trust. Should it be part of Corpus in bash or as Income in IE Account?

    By: Chandravijay Shah  |  Date: 17/04/2018   
    Total Answers : 3  |   View Answers
    29567 DIRECT TAXES - (  SEC 44AD  )
    As per section 44AD, determined profit is deemed to be after deduction of depreciation and partners remuneration. In a given example if the taxable profit as per section 44AD is Rs 8 lacs. Can anybody suggest how to do reverse calculation to arri. Continue ..

    By: Ethirajan  |  Date: 16/04/2018   
    Total Answers : 2  |   View Answers
    29563 DIRECT TAXES - (  SECTION 234F )
    As per section 234F the fee payable for late filing from Asst year 2018-19 based on Total Income. Total Income means before deduction under chapter VI A or after giving deduction under 80C etc. Please clarify?

    By: ANAND B  |  Date: 15/04/2018   
    Total Answers : 4  |   View Answers
    29564 DIRECT TAXES - (  234 F )
    As per sec 234F the fee payable for late filing from AY2018-19 based on Total Income.In sec 139 Explanation it stated that Total Income means without giving effect to Deduction whereas Section 234F simply states Total Income.plclarifyonTotal Income.

    By: ANAND B  |  Date: 15/04/2018   
    Total Answers : 3  |   View Answers
    29561 DIRECT TAXES - (  ITR )
    Whether there is any wayout to file ITR for Previous year 2017-18, as in Last year budget timelimit was fixed to file ITR.

    By: Mahesh Kumar  |  Date: 14/04/2018   
    Total Answers : 5  |   View Answers
    29569 AUDIT - (  IS CA ELIGIBLE AS IT AUDITOR FOR BUSINESS COUSIN ASSESSE  )
    A is CA and B is cousin of A (father of both are real brother). B (Proprietor) is liable to get Audit under Income Tax Act. Is A is eligible for appointment as Auditor? Please suggest your views in ref. of Sec 288 of IT Act.

    By: SUBHASH CHAND  |  Date: 16/04/2018   
    Total Answers : 2  |   View Answers
    29560 AUDIT - (  STATUTORY BANK BRANCH AUDITS )
    Ours is a 23 Years old Proprietorship Firm.We had completed two years cooling period last year. Still We did not get branch audit this year.As long as RBI was distributing branches,everybody was getting some thing without influence. However that has. Continue ..

    By: Mahesh Kumar  |  Date: 14/04/2018   
    Total Answers : 1  |   View Answers
    29583 GST - (  CA CERTIFICATE FOR TRANSFER OF INPUT CREDIT ON LEASE )
    Greetings Forum and Thanks for previous responses. My Client has rented his total manufacturing Unit to other Company for running the Factory. My Client has undertaken some expansion of the Existing Manufacturing Unit and has some Input GST credit. Continue ..

    By: CA. SANJEEV DESHPANDE  |  Date: 19/04/2018   
    Total Answers : 0  |   Post Answers
    29580 GST - (  IS UTILIZATION OF CREDIT OF IGST POSSIBLE AGAINST SGST AND CGST ONLY IF THERE IS IGST ALSO PAYABLE? )
    During filing GSTR-3B, unable to set off CGST SGST liability from credit of IGST of previous months and current month. As per CBEC and GST helpdesk - Credit of IGST can be used against CS GST liability, Only if there is something output liabity of. Continue ..

    By: SUBHASH CHAND  |  Date: 18/04/2018   
    Total Answers : 1  |   View Answers
    29573 GST - (  GST REVERSAL ON GOODS LOST BY FIRE )
    Hi Goods worth of Rs.5 Crore got completed damaged in a fire accident. Whether GST CENVAT availed on those inputs to be reversed under GST regime as per section 17(5)(h) of CGST Act 2017? if so is there any method of calculating the same?

    By: CA. BALASUBRAMANIAM P  |  Date: 17/04/2018   
    Total Answers : 0  |   Post Answers
    29574 GST - (  RCM& GST REGISTRATION )
    a person not crossing turnover threshold taking GST registration due to receipt of Reverse charge applicable inward supplies, after taking registration need he pay tax on his outward supplies? or he is liable pay Tax only on RCM applicable inward su. Continue ..

    By: VARUN N  |  Date: 17/04/2018   
    Total Answers : 1  |   View Answers
    29568 GST - (  GST ON SALE OF NEW CAR )
    What is the rate of GST on sale of newly imported car by a company? Company is not a dealer. IGST has been paid while importing the car. Whether this can be adjusted against GST liability on sale of same car. Whether any cess would apply on sale of . Continue ..

    By: GADE RANGA REDDY  |  Date: 16/04/2018   
    Total Answers : 1  |   View Answers
    29566 GST - (  AUDIT LIMIT )
    Whether GST Audit is required for Turnover Exceeding One crore or Two crores under GST Act?

    By: Mahesh Kumar  |  Date: 15/04/2018   
    Total Answers : 1  |   View Answers
    29562 GST - (  GST FILING AFTER THE DEATH OF PROPRIETOR )
    X an individual running a proprietorship firm ABC enterprises. X dies, how the GST returns will be filed further. Spouse of X is ready to continue the business in her name, should we take fresh GST No in the name of spouse to continue the old busin. Continue ..

    By: pradeep kumar agrawal  |  Date: 14/04/2018   
    Total Answers : 1  |   View Answers
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