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Que. Id Date Description
40578
Feb, 24
2020
GST - ( GST FOR TRANSPORTER )

Company is engaged in providing transport service. GST has to be paid under RCM method by the service receiver. Now, in one cases company itself is paying GST under Forward Charge Mechanism(FCM) approach. Can it be possible to opt RCM in few cases & FCM in few cases.

BY: Shobhit Bansal

Total Answers : 2 | View Answers | Post Answers

40579
Feb, 24
2020
DIRECT TAXES - ( TDS ON ROYALTY )

Dear Experts There is a change in the royalty definition in the budget 2020 which includes now the sale of cinematagrophic films also. So will this apply to Section 9 , the intended section only or will it apply to Section 194J (tds section also,as they both have the same definition)

BY: T.R.S. PATHY SENTHIL

Total Answers : 2 | View Answers | Post Answers

40575
Feb, 22
2020
GST - ( DOCUMENTS TO ATTATCH FOR GST REFUND ABOVE 2 LACS )

Which documents are required to be uploaded in case of Refund above 2 Lacs under Inverted Tax structure. Whether GSTR 2A and Auditor CErtificate is also to be attatched by Scanning

BY: Mahesh Kumar

Total Answers : 0 | View Answers | Post Answers

40576
Feb, 22
2020
AUDIT - ( AUDIT REQUIREMENT )

An asessee having Net profit less than 8%,Having Credit limit from Banks for more than 10 Lacs,Having Cash receipts more than 5 percentage,Having Cash payments more than 5% are required to get tax audit done irrespective of whether Turnover is up to 5 crores or more than 5 CroresTurnover . Am I correct ?

BY: Mahesh Kumar

Total Answers : 2 | View Answers | Post Answers

40577
Feb, 22
2020
AUDIT - ( TAX AUDIT APPLICABILITY FY 2019-20 )

A Company whose turnover is Rs. 4 crores in fy 2019-20 and has more than 95% of its transactions in sales and purchases in electronic mode in aforesaid case will tax audit not be applicable to the company as per the proposed amendment made in finance act 2020 wherein the limit specified in said cases ie more than 95% of transaction in sales and purchases thru electronic mode is upto Rs. 5 crores

BY: iyengar madhavan

Total Answers : 2 | View Answers | Post Answers

40573
Feb, 21
2020
GST - ( GST ON TRANSPORT SERVCIE )

My client is carrying business of transport of molasses, and raised invoice to 1) Ltd Company 2) sugar Factories 3) Goods transport agency in different situations. Out of these cases on which GST applicable and at what rate??

BY: Ninad Prataprao Shete

Total Answers : 1 | View Answers | Post Answers

40574
Feb, 21
2020
GST - ( GST ON TRUST )

Contribution Received by Trust from Its members which will be spend for the benefit of members. whether Trust is liable to pay GST on such contribution?

BY: SIDHARATH SUSHIL KUMAR BANSAL

Total Answers : 2 | View Answers | Post Answers

40572
Feb, 20
2020
GST - ( INTEREST FOR BELATED FILLING OF 3B )

After the internal order no CBEC-20/16/07/2020-GST dated 10/02/2020 comes into play regarding recovery of interest on gross tax liability for belated return filling of 3B,concerned GST officers have started sending notices to registered persons regarding payment of interest.Will Madras HC`s judgement in Refex Industries Ltd`s case be of any help in this regard ?? Please let me know.

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 2 | View Answers | Post Answers

40571
Feb, 15
2020
AUDIT - ( CO-OPERATIVE EMPANELMENT )

where to empanel online my firm for audit of co-operative societies in rajasthan? Please suggest and provide a reliable website for register as auditor.

BY: DHARMENDRA GORA

Total Answers : 2 | View Answers | Post Answers

40569
Feb, 14
2020
GST - ( APPLICABILITY OF GSTR-9D )

Respected Sir/ Mam, 1) What is date of applicability of GSTR-9D (As per Rule-80) and from which financial year it become applicable? 2) Whether applicability is mandatory or optional? 3) Whether said form is fill by member or Clients?

BY: BRIJEN

Total Answers : 0 | View Answers | Post Answers

40570
Feb, 14
2020
COUNCIL DECISION - ( APPENDICES TO THE CA REGULATIONS, 1988 )

I want to refer to updated Appendices to The CA Regulations, 1988. Can anyone help me with where can I find a copy of it? It is not available on The Institutes website and its also not available on the CDS portal.

BY: AKSHAY SHAH

Total Answers : 0 | View Answers | Post Answers

40568
Feb, 13
2020
DIRECT TAXES - ( TAXATION OF UNREGISTERED TRUST )

If trust is not registered under income tax than income shall be taxable as if income in the hands of AOP. AOP taxation depends on his member's share identity. than my Question is in case of unregistered trust how to check member's share?

BY: PRAKASHKUMAR HASMUKHLAL THAKKAR

Total Answers : 1 | View Answers | Post Answers

40567
Feb, 11
2020
GST - ( RCM, BILLING IN TRANSPORTATION )

CAN A TRANSPORTER BILL FOR FREIGHT UNDER RCM TO MAIN TRANSPORTER. SUPPOSE X IS A SUB TRANSPORTER WORKING FOR Y MAIN TRANSPORTER. AND A IS TRADER GIVEN TRANSPORT CONTRACT TO Y FOR MATERIAL DELIVERY. AND Y IN TURN OFF LOADED THE TASK TO X FOR DELIVERY. SO MY QUERY IS WHETHER X CAN BILL UNDER RCM TO Y FOR TRANSPORTATION.

BY: pradeep kumar agrawal

Total Answers : 2 | View Answers | Post Answers

40566
Feb, 10
2020
DIRECT TAXES - ( RECTIFICATION OF ERRORS )

Mr. A had filed his Income tax return for AY 2017-18 on 22.12.2017 claiming no refund and also no tax were payable in that year. While filing his return due to an oversight, under Income from House Property, he had claimed 50% ownership instead of 100% ownership. The department has also issued intimation u/s 143(1) on 03.03.2018. After realizing the mistake, the assessee now wants to correct this mistake. But online rectification in e-filing portal is not allowed now, as the Gross Total Income is changing due to the above mentioned correction. Also there is no option available for revised return in e-filing portal for AY 2017-18 due to time bar. When enquired the above mentioned position with CPC, they advised us to approach the Assessing Officer. But the query is: whether we should approach the assessing officer for revising the return or making a rectification for AY 2017-18. Thanking you in advance. CA T.V.S Raghavan

BY: T.V.SRINIVASA RAGHAVAN

Total Answers : 1 | View Answers | Post Answers

40565
Feb, 08
2020
GST - ( WRONG TURNOVER IN GSTR 9C )

While entering Turnover as per audited financial statement in gstr 9C i include turnover of other unit of april 17 to june 17 by mistake because prior to Gst one books of accounts was maintained. What should i do to correct this error?

BY: SUSHIL KUMAR

Total Answers : 1 | View Answers | Post Answers

40563
Feb, 07
2020
GST - ( TAX PAID ON DETENTION OF GOODS FOR NOT CARRYING E WAY BILL )

Goods transported after raising invoice, but Eway bill was not generated. GST officials detained the goods and later released the goods on payment of tax and equal penalty. My doubt in this regard is , what is to be done on filing 3B for the month, if taxable value and tax is entered in form 3B , extra tax to be paid for filing. What is the treatment of the invoice in GSTR 1.

BY: DEEPA SURESH

Total Answers : 1 | View Answers | Post Answers

40564
Feb, 07
2020
GST - ( LIST OF RCM EXPENSES UNDER GST )

Kindly , provide adhoc list of expenses/ goods attracting rcm . esp in case of job work of textile industry in case job worker are registered and unregistered.

BY: RAM SAMARIA

Total Answers : 0 | View Answers | Post Answers

40562
Feb, 06
2020
GST - ( IMPLICATION OF GST ON STOCK TRANSFERRED TO FIXED ASSETS )

In Case of Builders, whether the value of work in progress held as stock if transferred to Fixed Assets will be subjected to GST ? Meaning thereby Whether GST will be applicable in case stock is capitalised as Fixed Assets during the relevant year ?

BY: Gaurav Kumar Baranwal

Total Answers : 0 | View Answers | Post Answers

40561
Feb, 04
2020
DIRECT TAXES - ( TAX EFFECT ON ITEMS PASSED THROUGH OCI )

In the case of IND AS companies, certain items are passed through OCI. While computing income tax, we start from P & L profit or loss. Whether effect should be given for items passed through OCI? In the case of MAT paying companies u/s.115JB, CBDT has come out with a circular that starting point is PBT. But in the case of other companies, whether items in OCI should be given effect in tax computation? Please clarify. IND AS 1 says that OCI items should be net of taxes. Does it mean that OCI items have to be considered in computing taxable income?

BY: balasubramanian

Total Answers : 0 | View Answers | Post Answers

40560
Jan, 30
2020
DIRECT TAXES - ( NOC FROM CIT BEFORE SALE BY A TRUST REGD U/S 12A )

When a charitable trust running a school not able to continue ,must obtain no objection from CIT exemption Circle before selling it to another charitable Trust

BY: nagappan.sm

Total Answers : 4 | View Answers | Post Answers

40556
Jan, 29
2020
GST - ( REGARDING GST TAX LIABLITY )

There is problem regarding GST tax bifurcation. Actually, As per books it has been shown as IGST liablity and same has been paid under IGST head but it was supposed to be CGST and SGST liablity. During the GST audit , In annual return it has been corrected and shown under correct head . But problem arises how to show the same in GSTR 9C figures as per audited books of account and how to deal it.

BY: Binod Kumar Banka

Total Answers : 3 | View Answers | Post Answers

40557
Jan, 29
2020
GST - ( REGARDING GST TAX LIABLITY )

There is problem regarding GST tax bifurcation. Actually, As per books it has been shown as IGST liablity and same has been paid under IGST head but it was supposed to be CGST and SGST liablity. During the GST audit , In annual return it has been corrected and shown under correct head . But problem arises how to show the same in GSTR 9C figures as per audited books of account and how to deal it.

BY: Binod Kumar Banka

Total Answers : 0 | View Answers | Post Answers

40558
Jan, 29
2020
AUDIT - ( APPOINTMENT OF AN AUDITOR IN CASE OF NON-PAYMENT OF UNDISPUTED FEES )

Can a CA in practice take the Appointment of an Auditor in case of non-payment of undisputed fees of a private limited company having their net worth is negative? And there is a case pending litigation with previous auditor already. whether following provision will applicable and can the new auditor take the appointment as it is a sick unit? will private limited company having negative net worth is considered as sick unit in the above case? company went to strike off status with MCA because non filing of annual return. since the old auditor makes an objection the new auditor could not take up the engagement. 7.0 A member of the Institute in practice shall not accept the appointment as auditor of an entity in case the undisputed audit fee of another Chartered Accountant for carrying out the statutory audit under the Companies Act, 1956 or various other statutes has not been paid: Provided that in the case of sick unit, the above prohibition of acceptance shall not apply. 7.1 Explanation 1: For this purpose, the provision for audit fee in accounts signed by both – the auditee and the auditor shall be considered as “undisputed” audit fee. 7.2 Explanation 2: For this purpose, “sick unit” shall mean where the net worth is negative. Please guide

BY: ANSAR ABDUL RAZAK

Total Answers : 1 | View Answers | Post Answers

40559
Jan, 29
2020
COUNCIL DECISION - ( APPOINTMENT OF AN AUDITOR IN CASE OF NON-PAYMENT OF UNDISPUTED FEES )

Can a CA in practice take the Appointment of an Auditor in case of non-payment of undisputed fees of a private limited company having their net worth is negative? And there is a case pending litigation with previous auditor already. whether following provision will applicable and can the new auditor take the appointment as it is a sick unit? will private limited company having negative net worth is considered as sick unit in the above case? company went to strike off status with MCA because non filing of annual return. since the old auditor makes an objection the new auditor could not take up the engagement. 7.0 A member of the Institute in practice shall not accept the appointment as auditor of an entity in case the undisputed audit fee of another Chartered Accountant for carrying out the statutory audit under the Companies Act, 1956 or various other statutes has not been paid: Provided that in the case of sick unit, the above prohibition of acceptance shall not apply. 7.1 Explanation 1: For this purpose, the provision for audit fee in accounts signed by both – the auditee and the auditor shall be considered as “undisputed” audit fee. 7.2 Explanation 2: For this purpose, “sick unit” shall mean where the net worth is negative. Please guide

BY: ANSAR ABDUL RAZAK

Total Answers : 1 | View Answers | Post Answers

40555
Jan, 27
2020
IFRS - ( EEFC ACCOUNT- ACCOUNTING TREATMENT )

Dear All, As per AS 11, ICAI Compendium of Opinions, Vol XXIX,all transactions whether involving receipt of foreign currency or payment in foreign currency, should be recorded at the exchange rate as on date of transaction. EEFC accounts should be recorded at the exchange rate on the date of transaction. The Company can not account for the payments from EEFC accounts at the exchange rates applicable to receipts without considering the exchange rates prevailing on the dates of payments from the accounts. ______________________________________________ My query is as under. Our organisation have EEFC account. If We have made export of 100 USD and We are receiving 100 USD at a time. Against on same day We have import payment from EEFC too, amounting to 40 USD. For E.g. Buy Rate 70, Sell Rate 72 We received from Bank net payment advise for 60 USD*72=Rs 4320. Now, if as per AS respective rates are taken in which bank EEFC account is maintained, Following entries are passed. 100 USD*72= Rs 7200 Receipt 60 USD*70= Rs 4200 Payment Net Receipt Rs 3000 However as per payment advise it is Rs 4320 as with same USD rate payment is knocked off. So whether should be record gain of Rs 1320 (as per Accounting Standard Rs 3000 vs. Actual Received Rs 4320).? Please guide. Also EEFC account needs to be shown separately in Balance Sheet under Cash and Bank balance?

BY: Pujit

Total Answers : 0 | View Answers | Post Answers

40553
Jan, 25
2020
DIRECT TAXES - ( SECTION 269SU- ACCEPTANCE OF PAYMENT THROUGH ELECTRONIC MODES )

Hello Professional Colleagues ! Whether newly introduced section 269 SU (Acceptance of payment through electronic modes) will apply for any receipt from foreign customer in foreign currency? As it may contradict with Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 if authorized dealer is not engaged? Thank You

BY: Manisha

Total Answers : 1 | View Answers | Post Answers

40554
Jan, 25
2020
Income From House-Property - ( JOINT DEVELOPMENT AGREEMENT )

In case of Joint Development Agreements, post 01.04.2018, section 49(7) defining cost of acquisition of property and section 45(5A) defining sale consideration are similar (assuming no change in stamp value over a period of 2-3 years). This results in the cost of acquisition and sale value being the same and hence no capital gain arises. Is my understanding correct? Can this be considered as an initiative by the Government to senior citizens, who usually want to develop their old/existing houses, without much liquid resources to spare in case of capital gains arising out of completion of building. Please clarify regarding the same. Also, if one of the newly developed flats is sold a year later, what will be the cost of acquisition of the property and when it will be considered long term and short term respectively?

BY: CA. ANURADHA A V

Total Answers : 0 | View Answers | Post Answers

40551
Jan, 24
2020
DIRECT TAXES - ( INCOME RECEIVED FROM AIR BNB )

Client has listed property on AIRBNB and getting a rental income from the same. What is taxability of income and deductible of expenses.

BY: Nitin Porwal

Total Answers : 3 | View Answers | Post Answers

40552
Jan, 24
2020
GST - ( INPUT CREDIT UTILISATION )

Dear Sir, Please clarify whether output tax liability under gst can be set off against subsequent input tax credit earned which is also appearing in electronic credit ledger i.e. output tax liability was of march 2018 and input tax credit earned in december 2019 which is appearing in electronic credit ledger? Thanking in anticipation

BY: Abhinav Chaurasia

Total Answers : 2 | View Answers | Post Answers

40550
Jan, 23
2020
GST - ( DISCLOSURE IN GSTR9C WHERE TURNOVER IS DISCLOSED IN PROFIT & LOSS ACCOUNT INCLUDING GST )

The entity has disclosed the gross turnover as well as purchases in profit and loss account including GST. The additional amount payable through cash ledger is also debited to profit and loss account. The GST amount is stated separately but debited to profit and loss account. The GSTR 3B and GSTR 1 are filed correctly disclosing the net turnover and input is correctly claimed. Can the component of GST in the gross turnover can be separated and stated in 5O of GSTR9C as "adjustment of turnover due to reasons not listed above"?

BY: SANTOSH JAGANNATH PAI

Total Answers : 0 | View Answers | Post Answers

40549
Jan, 22
2020
DIRECT TAXES - ( COLLECTION OF AGENT )

DEAR ALL, FACTS : A PERSON IS CARRYING ON A CENTRE FROM WHERE HE COLLECTED CASH AND PAID TO WBSEDCL FOR PAYMENT OF ELECTRICITY BILLS. IN FY 2017-18 TOTAL DEPOSIT IN BANK WAS AROUND 60 LACS.BUT ENTIRE AMOUNT PAID FOR PAYMENT OF ELECTRICITY BILLS. ITO HAS ADDED ENTIRE AMOUNT U/S 69. QUERY : PLEASE PROVIDE ANY CASE LAW TO GO FOR APPEAL .

BY: SUDIP KUMAR MUKHOPADHYAY

Total Answers : 3 | View Answers | Post Answers

40546
Jan, 21
2020
GST - ( TRATMENT OF ITC DIFF IN GSTR9 )

Details of Query: - ITC ledger as per audited books of account (F.Y. 17-18) Rs. 100 - ITC as per filed 3B for F.Y. 17-18 was Rs. 90 - But actually our eligible ITC was only Rs. 60. Hence we reversed excess claimed ITC of Rs. 30 in 3B returns of next F.Y. 18-19 and also reversed ITC excess ITC of Rs .40 in books of FY 18-19 (since FY 17-18 were audited). What will be treatment in GSTR 9 C Form ??? Is below treatment would be correct one or Other, please suggest ? Point 12 in Pt. II of Form 9C 12.A. - ITC availed as per audited Annual Financial Statement : i.e. 100 12.E. - ITC claimed in Annual Return (GSTR9 – point 7J): i.e. 90 12.F.- Un-reconciled ITC : 10 Then we can mention - Reasons for un-reconciled difference in ITC can be writteen as under: Reason 1 .ITC reversed in 3B of next filed 3B return Rs. 30 Reason 2. ITC Reversed in books of F.Y. 18-19 (but related to Previous year F.Y. 17-18) Rs. 40. Thanks.

BY: RAJENDRA SEWDA

Total Answers : 0 | View Answers | Post Answers

40547
Jan, 21
2020
GST - ( GST LIABILITY )

A person is taking tutions and he has taken GST no for a part time business on which no sale has taken place yet. Whether his tution Incme will also come under GST

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

40548
Jan, 21
2020
Capital Gains - ( CAPITAL GAIN ON DEPRECIABLE ASSET )

Assessee construct building on lease land in 2014, after 2014 assessee not claimed Depreciation on it till date, Now he sold the building, Whether he can treat building as Long Term Asset for the purpose of Capital Gain?

BY: Ninad Prataprao Shete

Total Answers : 3 | View Answers | Post Answers

40545
Jan, 19
2020
Customs & Excise - ( LEGACY DISPUTE RESOLUTION CASE )

An assessee pays around 10 lakhs Under legacy dispute resolution scheme. Is he entitled to claim this amount as business expense ?

BY: nagappan.sm

Total Answers : 2 | View Answers | Post Answers

40544
Jan, 18
2020
GST - ( GST REGISTRATION )

Persons turnover (from services) crossed 20L. Into supply of services. Complete turnover comes from single transaction. He also get rental from commercial building of Rs 10000 per month. Getting registered now. How to pay tax for the period in which he is not registered and should have been registered? What pe

BY: Sai Ram

Total Answers : 2 | View Answers | Post Answers

40542
Jan, 17
2020
GST - ( RCM LIABILITY )

RCM Liability on inward supplies related to F.Y.2018-19 found on review of GSTR2A but paid in next financial year i.e.2019-20 (July,2019) & also ITC taken in GSTR3B in the same month.Now quary relates to GSTR9 i.e. Annual Return whether to shown or not in yes then in part or column.

BY: SANJAY BAHETI

Total Answers : 4 | View Answers | Post Answers

40543
Jan, 17
2020
GST - ( RECONCILIATION BETWEEN GSTR3B & GSTR 2A )

my query related to disclosure in Annual return GSTR9 & Certificate in GSTR9C pertaining to F.Y.2018-19. Detailed as under How & where to shown the difference in ITC between GSTR 3B and GSTR2A due to inward supplies actually received in next F.Y. i.e. 2019-20 on receipt basis while supplier has shown the same in March,2019 through GSTR1(i.e.in our case GSTR2A) pertaining F.Y.2018-19 (A purchase bill of 31/03/2019 has accounted for in books in April,2019 and also considered ITC in April,2019 when goods received actually.

BY: SANJAY BAHETI

Total Answers : 1 | View Answers | Post Answers

40541
Jan, 14
2020
Capital Gains - ( TAX IMPLICATIONS TO MEMBERS ON REDEVELOPMENT OF SOCIETY )

Society is under redevelopment in which assessee is a flat owner . Assessee is to receive larger flat (with additional area of say 500 sq feets) against old flat, out of 500 sq feets assessee is relinquishing rights on 200 Sq Feets to developer against a consideration. Taxability of such consideration ??

BY: shraddha

Total Answers : 1 | View Answers | Post Answers

40538
Jan, 13
2020
GST - ( PROVIDING GST RETURN FILING FACILITY TO A CLENT IN WEST BENGAL )

I have filed a few GST returns of a client in another state i.e West Bengal. I have recd Email from some State govt department there to enrol my self there . Whether It is required?

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

40539
Jan, 13
2020
DIRECT TAXES - ( INCOME TAX )

Dear sir, We have sold first floor of our shop. for Rs 17 Lcas. The WDV of the shop in our books is Rs 3.97 Lcas . We have deducted Rs 17 lacs from WDV. The result Profit on it. Can we claim Remuneration out of it or not.

BY: VIPIN GUPTA

Total Answers : 3 | View Answers | Post Answers

40540
Jan, 13
2020
CORPORATE & OTHER LAWS - ( ADMISION OF PARTNRER )

Sir One of the partner of a firm expired without any will or other document for succession At present there is no partnership deed.,The unit has been acquired and the Partnership Deed is not there for claiming the amount. We want to give to wife of the said Partners because the children are not coming to settle.Please advise what precaution to be taken CHARAN DASS SHARMA

BY: Charan Dass Sharma

Total Answers : 1 | View Answers | Post Answers

40535
Jan, 11
2020
INDIRECT TAXES - ( 019493 )

Whether tax paid under Legacy Dispute Resolution scheme can be claimed as business expenses under the income tax Act

BY: nagappan.sm

Total Answers : 1 | View Answers | Post Answers

40536
Jan, 11
2020
Capital Gains - ( 019493 )

An assessee has purchased a house property for 3 crores out of sale proceed of a vaccant site of Rs. 6.25 crores. After purchase of the new house property he has spent around Rs60 lakhs for installing Air Conditioners. solar Energy system, Moduler Kichen, LED Televisions, screens and blinds for windows,, etc and made cub boards , spent labour on them, to make the house to suit his needs and habitable for his style of living. The assessing officer disallow all the above allowing only 10 % of them saying that the builder himself has provided main fiacilities. whether his disallowance is correct?

BY: nagappan.sm

Total Answers : 1 | View Answers | Post Answers

40537
Jan, 11
2020
COUNCIL DECISION - ( MANDATORY STRUCTURED CPE HOURS DURING THE FIRST YEAR OF COP )

If COP is taken in November 2018 what is the requirement of structured hours for the year 2018 and block 2017 to 2019 ?

BY: SV

Total Answers : 1 | View Answers | Post Answers

40534
Jan, 10
2020
GST - ( INTERMEDIARY SERVICES )

An Intermediary service provider need to pay GST on services exported by him to foreign entity? If yes whether he needs to charge CGST & SGST or IGST? as services being provided to foreign company. also foreign amount is received in forein currency.

BY: sujaya

Total Answers : 2 | View Answers | Post Answers

40531
Jan, 09
2020
GST - ( ITC FOR IMMOVABLE PROPERTY )

WHEN THE ASSESSEE HAD MADE ROUTINE REPAIRS AND MAINTENANCE WORK (CONSTRUCTION) ON EXISTING IMMOVABLE PROPERTY. AND THE WHOLE EXPENSE IS DEBITED IN PROFIT AND LOSS ACCOUNT. MEANS NOT CAPITALISED ANY AMOUNT. CAN THE ASSESSEE TAKE ITC FOR GST PAID ON SUCH EXPENSES. THANK YOU.

BY: AJITKUMAR L PATEL

Total Answers : 2 | View Answers | Post Answers

40532
Jan, 09
2020
GST - ( CREDIT NOTE FOR EXPIRED GOODS )

A pharmacy dealing in medicines had returned some expired goods to the supplier. The supplier has replaced the goods with fresh stock and issued a credit note towards the goods supplied. The supplier reduced the amount of the credit note from fresh bill. The pharmacy has reduced the purchases to the extent of the credit note.No GST has been charged on the credit note. Whether the pharmacy/medical store is required to pay GST on the credit notes received? If not the reason for the same.

BY: SANTOSH JAGANNATH PAI

Total Answers : 3 | View Answers | Post Answers

40533
Jan, 09
2020
MISC. - ( UDIN )

We Are Certifying The P & L & B/S Of Client, To Whom Section 44AD Is Applicable By Making The Note As Unaudited Financial Statements On The Basis Of Which IT Return Is Filled. Is It Mandatory To Generate The UDIN For The Same. if UDIN is to generated then under which head is to be generated whether it is to be generated under certificate(others) or under audit & assurance.

BY: NADIR D SHAIKH

Total Answers : 3 | View Answers | Post Answers

40530
Jan, 08
2020
GST - ( INTERSTATE SALE SHOWN AS INTRA STATE IN GSTR3B )

IGST service invoice mistakenly prepared as intrastate and filed 3B and paid CGSTand SGST in cash as there was no ITC.mistake found before filing quarterly gstr1..whats the remedy...? To correct the invoice as interstate. Will raising a credit note and issuing a correct invoice on the same date is ok..? Any chances of interest or penalty?

BY: AJESH V JOHN

Total Answers : 1 | View Answers | Post Answers

40529
Jan, 07
2020
GST - ( GST R 1 FOR GOVERNMENT CONTRACTOR )

1. WORK CONTRACT FROM GOVERNMENT CONTRACTOR T TO SHOW IN B 2 B OR B TO C? 2. GST TDS DEDUCTED RS. 10,000.00 AND RECEIVED 4,90,000.00 (ONLINE TDS SHOWING THIS AMONT). ON WHAT AMOUNT 10% IS TO BE CHARGED THAT IS TO BE PAID IN GSTR 3B?

BY: aditya banka

Total Answers : 2 | View Answers | Post Answers

40528
Jan, 04
2020
GST - ( SELLER MAKING SALES THROUGH ECOMERCE OPERATOR-SWIGGY )

A seller making sales through ecommerce operator-swiggy , in which gst is charged on value after discount but not on the pakaging charges . in this case what will be our taxable value while filing gst returns Also please help me where these ecommerce transactions to be shown in gstr-1

BY: MOHAMMED MASEEH UR REHMAN

Total Answers : 0 | View Answers | Post Answers

40525
Jan, 03
2020
MERGER & ACQUISITION - ( CONVERSION OF CA FIRM TO PROPRIETORSHIP )

Dear Colleagues, We are a two member Partnership Firm and one of the partner is leaving. What is the way to convert the Firm into Proprietorship so that the name can be retained. How can this be done on the Self-Service Portal. Thank you.

BY: Subramanya K Bhat

Total Answers : 0 | View Answers | Post Answers

40526
Jan, 03
2020
MISC. - ( VALUATION OF CLOSING STOCK )

Sir, one of our client has entered into manufacturing activities in that he will be using raw material in kg some in Meters and some in liters to bring the final product. We are facing a problem how to value the closing stock. kindly guide

BY: VIPIN GUPTA

Total Answers : 2 | View Answers | Post Answers

40527
Jan, 03
2020
GST - ( GST )

We have showed excess sales in GSTR 3B and paid tax on it, sales as books is less we have put sales as per books figure in GSTR 9. Can you guide how can we claim the refund of excess tax paid in GSTR 3B. Which form to use

BY: VIPIN GUPTA

Total Answers : 2 | View Answers | Post Answers

40524
Jan, 01
2020
DIRECT TAXES - ( DISALLOWANCE MADE WITHOUT ANY INQUIRY THROUGH NOTICES U/S. 142(1) )

The assessee was issued show-cause notice under section 143 (2) for scrutiny, followed by notice u/s. 142(1) r.w.s. 129 of the Act along with a detailed questionnaire enclosed requesting the assessee to submit the details which were timely submitted by the assessee. After reply from the assessee, Further Notices u/s. 142(1) were issued for the cash sales made to the certain customer and the assessee replied to it. In further 142(1) notices, there was nothing mentioned related to decline in the N.P. Ratio and disallowance of administrative expenses. But in the order u/s. 143(3), disallowance of expenses was made without mentioning this issue in any of the show cause notice issued earlier.

BY: Hunny Badlani

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40522
Dec, 31
2019
DIRECT TAXES - ( 079710 )

The assesee has late depsoited ESI /PF which was reported in Form 3CD but employess contribution has not disallowed in ITR now CPC has added the same in ITR on the basis of Form 3CD whether any relief can be claimed ?

BY: SANDEEP KAPOOR

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40523
Dec, 31
2019
Companies Act, 2013 - ( INCORPORATION E-SPICE )

Dear members Please enlighten on the following: 1. One of the proposed director is a foreign national holding OCI of India. An Address proof as stated in bank statement could only be notarised as it is not possible to get the address proof apostilled in Belgium( as per the law in Belgium). 2.Further the director also holds Indian PAN card and OCI. Is the same needs to be notarised and apostilled. This being a Indian document The solution to the query raised will be highly appreciated. Practice with ROCs in different state differs too and this is wrt. Pune ROC wrt his objection in rejection.

BY: vijay kumar kalia

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40521
Dec, 30
2019
GST - ( GST ON REDEVELOPMENT SCHEME )

IN REDEVELOPMENT SCHEME EXISTING MEMBER ARE GETTING FLATS WITH EXTRA AREA WITHOUT ANY CHARGE. THERE IS INCREASES FROM 65 SQ MTR TO 85 SQ MTR . WHETHER DEVELOPER HAS TO PAY GST ON ENTIRE MARKET PRICE OR ON ONLY ON EXTRA AREA GETTING BY EXISTING OWNERS OR SIMPLY NOT TO PAY ????? NEW FLATS ON NEW FLOOR SALE PRICE BELOW 45 LAKHS . WHAT ARE RATE OF GST WITH INPUT CREDIT & WITHOUT INPUT CREDIT ??? IF SALE PRICE ABOVE 45 LAKS WHAT WILL BE THE RATE OF GST?? CA DIMPLE SHAH

BY: CA DIMPLEKUMAR V. SHAH

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40519
Dec, 28
2019
GST - ( GST AUDIT BY INDIAN CA RESIDING ABROAD FOR ALMOST 1.5 YEARS )

Dear all, My query is as follows: CA is out of India for almost 1.5 years.His practice is in India. Can he conduct GST Audit of Indian Companies? Data can be mailed to him. GST is all online. Is it Possible or out of law? Warm Regards.

BY: Kamlesh Mehra

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40520
Dec, 28
2019
DIRECT TAXES - ( RECTIFICATION INCOMETAX RETURN FOR A.Y.1920 )

My client MrP has recd.intimation under sec 143 (1)of the it act 1961. and there is a demand due to error in tan no. stated in tds schedules mismatch in tds schedule. the query is that in the ITR filing type is not in the general details page of the itr how do i state that the filing type is rectification under sec 154?

BY: KUSHAL HEGDE

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40518
Dec, 27
2019
DIRECT TAXES - ( ITR V TO BE SUBMITTED )

A return was filed without E Verification and ITR V was not sent to CPC banglore but return was revised thereafter and ITR V of Revised return was sent to CPC and refund was also issued on the basis of revised return. Whether it is necessary to send ITR V of origional return also as Department is sending Messages for that.

BY: Mahesh Kumar

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40517
Dec, 26
2019
Companies Act, 2013 - ( 194298 )

Can we get refund of stamp duty paid for Company incorporation in Spice form?. Already paid stamp duty but the name was rejected by MCA and i had to file fresh form with new SRN & new company is incorporated, but the stamp duty i paid for the SRN is pending for re submission. Can a different person use my SRN for new company incorporation and i collect stamp duty amount from him?

BY: CA Shrawan Suthar

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40514
Dec, 25
2019
MISC. - ( 136281 )

Can a Practicing CA sign a provisional balance sheet. ( Balance sheet for Nov 30, 2019 to be signed in Dec 2019). If yes, what is the scope of responsibility of a CA. weather UDIN is mandatory.

BY: chetan jadhav

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40515
Dec, 25
2019
MISC. - ( 136281 )

There are no of small client (business as well as salaried class assessee) who need attested computation of income and balance sheet for bank loan purposes. Business class person do not maintained any records and mostly returns are filed under section 44AD/44ADA Can we a practicing CA, Sign the said computation and financial as "Certified True Copy of Original" and weather UDIN is necessary. If yes, what is the scope of our responsibility. (kindly advise in light of recent guidelines issued by ICAI with respect to UDIN for certified true copy)

BY: chetan jadhav

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40516
Dec, 25
2019
Capital Gains - ( DEDUCTION U/S 54 )

Father and son wish to buy residential property jointly. Father shall be claiming exemption u/s 54 ( he shall sell his owned residential property and invest in new one jointly with son). lets see by example: New property purchased on 25/12/2019 for 1.5 crs Fathers' estimated capital gain from sale of his old property 40lakhs. Father's residential property has to be sold within one year of the purchase of new property to claim under 54. If he is unable to sell the old property before 25/12/2020, what shall happen? Can he invest in the new property ( for claiming u/s 54 ) by buying 1/3rd share of the new property from his son? What shall be the stamp duty on the same?

BY: Pradnya M Oak

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40512
Dec, 24
2019
DIRECT TAXES - ( SECTION 271AAC VS SECTION 271DA )

DURING THE COURSE OF SEARCH OF A PERSON ' X ' IT WAS FOUND THAT ASSESSEE HAD RECEIVED BACK THE SUMS GIVEN AS LOAN TO THAT PERSON (IN WHOSE PREMISES THE SEARCH WAS CONDUCTED) IN CASH . ASSESSEE HAD ALREADY OFFERED THE SAID AMOUNT AS UNEXPLAINED CASH CREDIT UNDER SECTION 69 AND PAID THE TAX THEREON @ 60% UNDER SECTION 115BBE ALONG WITH PENALTY LEVIED UNDER SECTION 271AAC . HOWEVER THE PENALTY UNDER SECTION 271DA IS ALSO LEVIED SIMULTANEOUSLY ON ACCEPTANCE OF SUMS IN CASH . CAN PENALTY UNDER SECTION 271DA BE ALSO LEVIED IN CASE THE SUMS HAD BEEN DECLARED AS INCOME UNDER SECTION 69. SECTION 271AAC HAD STARTED WITH THE WORDINGS " NOTWITHSTANDING ANYTHING CONTAINED IN THE ACT , STILL THE PENALTY UNDER SECTION 271AAC AND PENALTY UNDER SECTIN 271 DA OF THE ICNOEM TAX ACT 1961 BE LEVIED SIMULTANEOUSLY ON THE SAME AMOUNT . PLEASE CLARIFY

BY: DEEPTI DHAKAD

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40513
Dec, 24
2019
GST - ( TURNOVER IN GSTR-3B, GSTR-1, GSTR-9 AND BOOKS OF ACCOUNTS )

Taxable Value reported in GSTR-3B is more than the Taxable value filed in GSTR-1 (Difference in Lacs). There is nominal difference in Turnover as per GSTR-1 and Books of accounts (Difference in Hundreds). Is it possible to mention turnover as per books of accounts in GSTR-9, so that there is no variance in GSTR-9C or it is mandatory to mention taxable value as per GSTR-1 in GSTR-9 and explain the difference in GSTR-9C accordingly?

BY: Shyamal Jariwala

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40510
Dec, 21
2019
TDS/TCS - ( TAX DEDUCTION U/S 194IA )

"A" entered into an agreement to purchase a land for Rs. 14 Cr. and paid an advance of R. 8Cr. on 12-03-2012. No deduction was made u/s 194IA as the section came into existence only on 1-06-2013. Subsequently Rs. 6 Cr. were paid on 16-12-2019 and TDS was deducted on the amount of R. 6Cr. Now the sale deed is being executed. Whether TDS is required to be deducted on R. 8Cr. paid earlier at the time of execution of the sale deed?

BY: SANTOSH JAGANNATH PAI

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40511
Dec, 21
2019
DIRECT TAXES - ( 082176 )

rental payments aggregating to over Rs.5 lakhs in a year are being made to a non resident by transferring funds to his NRO account . TDS is deducted at 31.2%. is there a requirement to upload form 15CB and and 15CA while transferring monthly rent?

BY: suman goyal

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40509
Dec, 20
2019
MISC. - ( CODE OF ETHICS )

If we charge fee to consultant for professional work of his client Is this situation covered under misconduct of professional ethics?.

BY: CHANTI

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40508
Dec, 19
2019
DIRECT TAXES - ( TAX AUDIT RESIDENT WELFARE ASSOCIATION )

Whether tax audit is applicable for resident welfare association registered under society registration act. The income is exempt under mutuality. However the collection from members exceeds Rs 1 crore

BY: rangarajan r

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40507
Dec, 17
2019
MISC. - ( CERIFICATION OF ESTIMATED BALANCE SHEET )

Whether Unaudited Balance Sheet which has been compiled by CA requires UDIN . Banks are insisting for that

BY: Mahesh Kumar

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40505
Dec, 16
2019
GST - ( BILL TO FOURTH PERSON )

How one can raise the bill in the name of fourth person in GST. If A is the supplier, who sells to B but shipping is made to D (ultimate purchaser), whereas C also exist in between B and D - How one can raise the bill in given circumstance? please advise

BY: SURAJ KUMAR CHOUDHURY

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40506
Dec, 16
2019
MISC. - ( MERGER OF FIRMS )

I am Doing My Practise as Proprietor and I am Also Partner in Another Firm. Now I want to Merge my Proprietary with the Partnership Firm in which I am Already a Partner. My Question is Can I Merge My Proprietary with the Partnership Firm in the above case.

BY: Siva Ette

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40504
Dec, 13
2019
DIRECT TAXES - ( INTIMATION RECEIVED FOR THE ASSESSMENT YEAR 2018-19 )

the Assessee is carrying the business of Clearing and forwarding (CHA) and received from their customer reimbursement of expenses and the service charges but the customer has deduct the TDS on inclusive of reimbursement of expenses so there is a Mismatch in receipts as per ITR and 26 As . The assesee has not omitted any income but shown in the ITR as net (excluding reimbursement of Expenses) because the reimbursement of expenses is not the income of the Assesee so in that case how to be proceed with Income tax authorities . So please give your valuable suggestion on this matter along with any notification or circular if any .

BY: GOPAL KUMAR AGRAWAL

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40503
Dec, 12
2019
DIRECT TAXES - ( JOINT DEVELOPMENT AGREEMENT - TAX IMPLICATION TO LAND OWNER WHO IS INTO CONSTRUCTION ACTIVITY )

The assessee is a partnership firm engaged in construction activity. In has purchased land during the year 2006-07, and has started construction in 2012 and has done work to the extent of Rs. 50,00,000. Later on due to funds scarcity, it has entered into development agreement with other company for construction of flats in 2014. Construction was completed in the year 2018 and land owner has received his share of flats and started selling its share. How to treat the same in the books of land owner who is engaged in same business. Whether to calculate capital gains or business income. Kindly explain.

BY: Sushma Sireesha Mukka

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40501
Dec, 11
2019
GST - ( FORM 9 AND 9C )

WRONG HEAD OF ITC CLAIMED IN FY 2017-8 WHILE FILING FORM 9 AND 9C WE NOTICED THAT ONE CLIENT HAS WRONGLY CLAIMED CGST AND SGST ITC INSTEAD OF IGST (PURCHASE BILL INTER STATE). WHAT WILL BE THE REMEDY TO CORRECT THE MISTAKE IN 3B. WE WILL PAY THE CGST AND SGST AMOUNT BY MAKING REVERSAL OF EARLIER WRONG CLAIMED ITC , BUT WHAT WILL HAPPEN TO THE IGST AMOUNT NOT CLAIMED ANY WHERE IN FY 2017-18 IN 3B

BY: pradeep kumar agrawal

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40502
Dec, 11
2019
MISC. - ( NET WORTH CERTIFICATE BASED ON PROVISIONAL BALANCE SHEET )

Dear All, Can a practicing Chartered Accountant issue Net worth certificate to private limited company based on provisional financial statement ( here provisional financial statements are signed by CA with clear indication of same being compile based on information provided by the management)

BY: chetan jadhav

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40499
Dec, 07
2019
GST - ( ADJUSTMENT OF UNUTILISED SGST FOR PAYING IGST )

A person is having CGST as well as SGST Balance in Credit Ledger. He wants to adjust IGST liability from SGST as IGST balance is already utilised without using CGST Balance. Is it possible ? If yes then System is not allowing it

BY: Mahesh Kumar

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40500
Dec, 07
2019
GST - ( RCM )

(1) While filling GSTR-9 of 17-18 IT was found that RCM on transport was missed out. Now can we declared in 3B of 19-20 and pay GST & claim set off in next month in 19-20 or we have to pay GST through DRC-03 and forgo the claim of set off?? (2) While paying RCM on transportation we have not paid GST on transport amount below 750 for each consignment and 1500 for full tempo load considering exemption given under GST. Now Whether we have to pay RCM on above exempted amount?? Members Pl. share your views

BY: Sandeep

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40498
Dec, 06
2019
GST - ( REVERSE CHARGE MECHANISM )

Service provided by a lawyer to a company in July 2017. Bill and payment made in July 2017. Company registered in GST in December 2017. Turnover is over 2 crores. Is the company liable to RCM payment on advocate's fees paid in July 2017 ?

BY: ASHISH GOEL

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40496
Dec, 05
2019
DIRECT TAXES - ( 078994 )

A Company has deposited Electricity Bill to the State Electricity Board in Cash. The A.O , while doing the Assessment , has disallowed the same. Kindly provide some case laws and oblige.

BY: AJAY JAIN

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40497
Dec, 05
2019
DIRECT TAXES - ( 078994 )

How to find relevant case laws for putting the same in our Reply. The will be find from which site ( Free of Cost )

BY: AJAY JAIN

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40494
Dec, 04
2019
OTHER BODIES - ( WHERE TO REGISTER THE TRUST DEED? )

I wand to register a new charitable trust for charity purpose but i don't know the office where i submit the trust deed for registration?

BY: DHARMENDRA GORA

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40495
Dec, 04
2019
ANNOUNCEMENT - ( REGISTERING NEW CA FIRM WITH ICAI )

I am registering a newly ca firm with icai through icai ssp portal and getting firm card, so it is mandatory to send the firm card to regional office of icai?

BY: DHARMENDRA GORA

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40493
Dec, 03
2019
DIRECT TAXES - ( TAX AUDIT FILED BY ANOTHER CA )

DEAR SIR/MAM DURING FILING TAX AUDIT REPORT, WE FILED TAX AUDIT REPORT BY ANOTHER CA. NOW WHEN WE OPEN THE REPORT FROM INCOME TAX PORTAL THEN THERE IS DETAILS OF AUDITOR WHO HAS TO SIGN THE REPORT BUT IT WAS UPLOADED BY WRONG CA USING HIS DIGITAL SIGNATURE. PLEASE SUGGEST ME THE SOLUTION. IT WAS FILED BEFORE THE DUE DATE. THANKS CA PRAVEEN AGGARWAL

BY: praveen aggarwal

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40492
Dec, 02
2019
INDIRECT TAXES - ( REVERSAL OF TRANS 1 CREDIT )

CAN WE SHOW REVERSAL OF TRANS 1 CREDIT WHICH I HAVE CLAIMED IN F.Y. 2017-18 NOW AT THE TIME OF FILING ANNUAL RETURN TILL DATE I HAVE NOT REVERSED THAT TRANS 1 CREDIT. THANKING YOU

BY: BIKASH KUMAR

Total Answers : 2 | View Answers | Post Answers

40491
Nov, 30
2019
GST - ( REFUND APPLICATION )

while creating refund application for 2018-19 Portal asks to file refund application for 2017-18 first. Whether it is compulsory to file refund application for that year.

BY: Mahesh Kumar

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40488
Nov, 29
2019
GST - ( GST REFUND )

A firm has not availed GST refund for F Year 2017-18 GST Balance as per Credit Ledger was around 125000- as on 31-3-18 Now GST Balance is around same figure as on 31-3-2019. That means no refund can be claimed for 2018-19 now as during 2018-19 Input as well as Output Tax is same appx This is case of Inverted duty structure.

BY: Mahesh Kumar

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40489
Nov, 29
2019
MISC. - ( UDIN FOR CMA DATA )

After preparing CMA data Banks are insisting CA's to put their signatures . A CA has written Projections Prepared on the basis of Information provided by customer. Whether he will have to generate UDIN

BY: Mahesh Kumar

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40490
Nov, 29
2019
AUDIT - ( 241061 )

Is the limit of 60 audits counted PAN wise? Say Tax audit report and Transfer Pricing Audit audit report signed by the same CA for same AY for the same Assessee. Will this be treated as a single assignment?

BY: Lokesh Chajed

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40485
Nov, 28
2019
DIRECT TAXES - ( DEDUCTION U/S 10AA )

Deduction u/s 10AA was disallowed by AO on the contention that ROI is filed after due date. But nowhere in the section there is a mention of such condition for claiming 10AA deduction. However in sec 143(1)(v), it is mentioned the ROI shall be processed after disallowing 10AA deduction, if the ROI is filed beyond due date prescribed in 139(1). In these circumstances, whether any appeal can be filed, what are the chances of success. Can we make the contention that the eligibility conditions prescribed in 10AA do not include the condition that ROI filing should be within the due date and the assessee is not bound by the ROI processing directions as stipulated in sec 143(1). Thank you for your guidance.

BY: Suresh Raman

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40486
Nov, 28
2019
Companies Act, 2013 - ( CLOSURE OF A PVT LTD COMPANY )

How to close a pvt ltd company, lying closed since long. Some fixed assets and current assets with liability exist in the last audited balance sheet. The same can be transferred in the name of Directors or squared off. How to proceed for closure?

BY: SURAJ KUMAR CHOUDHURY

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40487
Nov, 28
2019
COUNCIL DECISION - ( ADDING PROFESSIONAL ADDRESS TO GOOGLE MAPS )

As per the council decision dated 23rd Oct 2019, ICAI issues advisory for practising Member CAs to restrict them from listing with online Application based service provider Aggregators. With this background, I have below queries : 1. Adding firm name, office address, basic details etc in Google maps, are permissible ? Whether this is within the framework of guidelines prescribed by ICAI ? 2. Also, need clarification on registering with Justdial ? Please clarify

BY: Mallika K R

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40484
Nov, 27
2019
MERGER & ACQUISITION - ( CONVERSION OF A PROPRIETORSHIP CA FIRM TO A PARTNERSHIP FIRM )

Hi All, I Am A Chartered Accountant Started Practice In 2011 In Proprietorship Concern And Having Trade Name Registered Under ICAI . My brother Qualified As CA recently and We Want To Convert My Proprietorship Firm Into Partnership Firm Without Changing The Trade Name As Registered In ICAI. My firm is a statutory auditor of a listed company. My Question Is 1) Whether Proprietorship Experience Is Continued In Partnership Firm ..?? 2) Whether The Experience Will Count For Bank Audit Empanelment Under Partnership Firm..?? 3) Whether does it in anyway affect my firm continuance as a statutory auditor of the listed company? 3) Whether Can I Proceed With This Conversion, Kindly Suggest Me. Thanks in advance

BY: Arun A

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40482
Nov, 25
2019
MISC. - ( PROPRIETORSHIP TO PARTNERSHIP )

Please help to understand the requirement to convert the existing proprietorship in to partnership on the below scenario- 1. My friend is already in practice as alone 2. I want to join him and covert the same as Partnership 3. He has been in practice for more than 3 years now Please tell me that if we change the name and we enter into partnership then the seniority of my friends earlier as practitioner will be considered. Also, Please help highlight the current rules for taking article under a CA.

BY: Nitish Kumar

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40483
Nov, 25
2019
Companies Act, 2013 - ( DELAY IN AUDIT REPORT )

What is to be got done in case the Balance Sheet is finalized on 30th Oct 2019, ie after the due date of AGM and no prior initiation had been given to MCA. Please advice the best possible way to deal with the issue without attracting any penal provisions.

BY: Nilanjan Kayal

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40481
Nov, 23
2019
MISC. - ( INCORPORATION OF NIDHI COMPANY )

What is industrial activity code for a nidhi company.

BY: Shobhit Bansal

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40477
Nov, 22
2019
DIRECT TAXES - ( RECTIFICATION U/S 154 )

X AN ASSESSEE RECEIVED A DEMAND NOTICE OF RS 30 K FOR ASSTT YEAR 2011-12, THIS IS DUE TO MISMATCH OF TDS. EFFECT OF FULL TDS CREDIT WAS NOT GIVEN IN THE ABOVE DEMAND NOTICE. MR X GOES FOR 154. WHILE FOLLOWING 154 PETITION IT IS SEEN THAT INTEREST ON FD WAS OMITTED IN ORIGINAL ITR. SO CAN WE CONSIDER THE INTEREST INCOME TOGETHER WITH TDS DEDUCTED ON FD AND FILE PETITION U/S 154. ORIGINAL RETURN SHOW ONLY SALARY RETURN AND TDS DEDUCTED ON SALARY. FURTHER IT IS TO BE NOTED THAT THE ORIGINAL ITR WAS FILED MANUALLY IN IT NOT WITH CPC. WE PRESENTLY RECEIVED A DIN MENTIONED INTIMATION FOR ORDER U/S 154 FROM IT IN OUR PORTAL TO SUBMIT REPLY TO THE SAME.

BY: pradeep kumar agrawal

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