Is it mandatory to get certificates of income source from the person who is buying your agricultural land in Kerala
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
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.
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
Is anyone is having case law on sale of Used/Old Car in chandigarh or punjab.
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.
I would like to know whether any Custom duty is to be reversed by STPI units for sale of software in DTA sale as EOU units have the liability of reversal of customs duty on duty free inputs used in the manufacture of products sold in local market.
As STPI units do not import any goods for manufacture of software are they still liable to reverse any part of Custom Duty on DTA sale ?
Supplier not uploaded March invoice in 2A. Total GST is Rs 1 lakh. But we don't have money to pay. Usually ITC will be more than output tax. If we wait till it is reflected in 2A of April can we file March quarterly returns afterwards without payment of tax. For this we have to enter ITC more than March 2B. Is it possible. Please guide me and suggest any other alternatives.
Supplier not uploaded March invoice in 2A. Total GST is Rs 1 lakh. But we don't have money to pay. Usually ITC will be more than output tax. If we wait till it is reflected in 2A of April can we file March quarterly returns afterwards without payment of tax. For this we have to enter ITC more than March 2B. Is it possible. Please guide me and sujjest any other alternatives.
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