Tax questions

GST for dropshipping

Hi have created my online webstore . I had linked with some 10-15 suppliers. I also made fb insta and Whatsapp groups and sell through them. When I receive a order in my website or on my social media groups I forward it to my supplier/wholesaler/manufacturer and make full payment. My supplier/ manufacturer ships the product to my customer.I usually sell a Rs 100/- more than the price I got/ the...

Gst on maintenance charges

I have purchased a flat in Khativali Village of Shahapur Taluka in Thane District and got possession in 2013. As per agreement for sale I was liable to pay maintenance charges @ 1686/- per month for three years from the date of possession of the flat. Even after three years the builder continued the maintenance charges on the pretext that the Co-operative Housing Society would be formed when th...

CAR loan availed by company but cost has increased - can apply excess amount in capital loss?

Hello I had availed a car loan in 2013 from my employer under Company owned CAR loan with zero interest, road cost and insurance cost for next 4 years will be incurred by the company. Loan has completed in Jun 2017 but at the end company has entered a perquisite value of around Rs. 2.6L in my salary slip as “Assets transferred to employee” due to which my annual income has increased and tax ...

154 order received an email

Mr / Ms / Messrs DEEPAK KUMAR HOLALKERE BASAVARAJAPPA, Please find attached, the order relating to Rectification under Section 154 of Income Tax Act, 1961, for PAN AKJXXXXX2Q with respect to the Income Tax Return filed for Assessment Year 2015-16. The attached digital communication is authenticated by a digital signature obtained from a certifying authority under the Information Techno...

Tax on Compensation awarded by Court

I am 70 yrs old senior citizen. I was fighting a legal battle with my employer NPCIL for last 25 yrs. Now the case is decided in S C. NPCIL wrongly relieved me from service on 16 Sep.1992. I appealed in SB High Court,where order was in my favour,NPCIL appealed in DB High Court, here also order was in my favour for re instatement. Against this order of DB High Court, NPCIL filed SLP, where Supr...

Issue in transferring Service Tax Credit in GST Regime OR Claiming Service Tax Refund

We were having Service Tax Credit of Rs. 64,090/-. We were wishing to carry forward this credit into GST when GST has been made applicable from 01/07/2017 through GST Trans-1. We have filed Original Service Tax Return of Q1 of F.Y. 2017-18 on 27/07/2017. In the Original ST Return credit figure of above sum has been wrongly shown in utilized cell by mistake. Later on at the time of filing Trans...

Capital Gains investment in residential property funded equally by daughter.

I purchased a plot in 2005 paying cheque amounting to Rs 65,800. It was registered in January 2015 indicating the said amount as well as the then current (Jan 2015) market value of Rs 18,59,000. Now I plan to sell the said plot after 3 years of registration and if I get some 20L then plan to invest that total amount in purchase of a flat for some 40L where my unmarried daughter plans to invest ...

Sub agent tour operator

I am a Travel agent in Mumbai. If I purchase a Europe package of Rs.10 lakhs for a family from our supplier in India I will have to pay 5% gst to package tour supplier on entire package ie. Total Rs.10,50,000/- including 5% GST, but when I sell this same package to my client will I have to charge GST from my passenger once again on the entier package amount ie.- 10,50,000/- + 25000 my ser...

Tax Refund

I am NRI president of a Japanese company. My company filed tax return for 2017-18 by using a CA in Delhi. My company is not registered in India so this company cannot open a bank account in an Indian bank. My CA told me that now I can get the refund in a foreign bank account and he gave my foreign bank account in the forms. https://timesofindia.indiatimes.com/business/india-business/nris-...

Capital gain tax benefit without registry and only transfer

Dear Team, My father has sold a plot in Haryana (after 8 years of possession) and now to save capital gain tax, he is planning to invest the gain amount in a flat in Noida with me and my wife as partners. There is a property where the builder has dues towards Noida authority and thus the registry is not being done and the owners have just the possession letter with them. As there is no regist...