I have received a notice from IT department for having filed defective return for AY 2017-18. The notice says: Error Code 86
As per Section 44AD(6) of the Income Tax Act, 1961, the provisions of Sec.44AD are not applicable to – (1) persons carrying on professions that are referred to in Sec.44AA(1), (2) persons earning income in the nature of commission or brokerage, and (3) persons carrying o...
Hello Experts,
I have received a defective return notice us 139(9) for AY 2017-18.I have filed ITR3.I had just filled gross profit figure of Rs 1,95,000/-( Rs 20,000-tds deducted)(first year of professional income-Fashion designing) in P&L (No accounts case) & incase of Balance sheet all figures zero ( no accounts case).I have also mentioned NO in ITR3 form for Are you liable to maintain acco...
Drop shipping and GST within India, but the Supplier is based in Unknown State but in India only and our website or the GST is registered for Maharashtra. I publish the products available on their App to my website.
If order is received on my website, buyer gets a soft copy mail to its email Id having the GST amount charged against the products inclusive.
After receiving order i will plac...
Financial Year: 2017-18
Name: Mrs Krishna , Age 60 Years
Other sources of income: Nil
Occupation: Home maker
From sale of immovable property Rs 49,80,000 was received in her bank account.
2 flats has been purchased for her 2 sons. The sons are salaried employees aged 31 and 35 year’s. Ownership pattern of the flats is divided between the applicant and co applicant. In the 2 flat...
I have received a notice from IT saying "As per Section 44AD(6) of the Income Tax Act, 1961, the provisions of Sec.44AD are not applicable to – (1) persons carrying on professions that are referred to in Sec.44AA(1), (2) persons earning income in the nature of commission or brokerage, and (3) persons carrying on any agency business.As seen from the return of income filed, the nature of business...
I am a lic agent. I fill in return code 0301. what code is suitable for me. I got a letter from cpc that " sec 44ad is not applicable for u
architect under 44ADA and after more than 2 months i got communication from CPC u/s 139(9) that it is defective.
Error code is 86- The provisions of Section 44ADA not applicable to the taxpayer. The nature of business code in Sch NOB is not a profession, ...
Hello,
I have seen some company are deducted 2% from the salary on the payment of contractual basis employees.
Even some employees salary 27250 k and some 28250k.
Telling whole thing here,
In a year 365 day,
Sangathan will not pay above said type of employees on summer vacation - 40 days, autumn brake - 10 days and winter vacation - 20 days.
So total working days should be like thi...
Hi,
I have a small query relating to movement of Goods through private transporters / Parcel By Bus. I have a manufacturing facility in Chennai and my place of business is in Hyderabad. I usually buy raw material in Chennai itself from various unregistered suppliers and hence I do not get any GST bills. At the manufacturing facility goods are manufactured and then need to be transported by tr...
Hello,
I and my wife took a home loan in the year 2017 .
We are co-owners of this house and co-borrowers on the house loan taken for this house.
The EMI is Rs 39000. The interest part is Rs 390000. The principle part if Rs 90000.
Now the condition is I am the only one who is paying the entire EMI amount and contribution from my wife's account is nil. In other words, the entire house l...
Hello,
I am facing a problem for the Income Tax of AY 2015-16.
For this assessment year I was in USA and have income from USA, for this year I was in India for more than 182 days so the total income is taxable in India.
I have chosen the wrong ITR (ITR1 instead of ITR2) and submitted after due date. I wanted to submit ITR2 and claim foreign tax credit. I have submitted the revised return...
I have an online women's apparel store. Lets say its ABC company. The products that will be showcased is of a manufacturer in Mumbai who said that he can send the products directly to customers (Drop Ship). Lets say that manufacturer is XYZ Company. If a customer orders from my website then i am going to put forward the order to him and he will dispatch the product to the customer. He also said...
Hi!
I'm an NRI living in Moscow since 2013.
In India, I hold NRE, NRO n resident savings account. in Jan 2015 purchased a flat and deposited cash around 15Lacs n issued a DD for registration of flat from my resident savings account(Without knowing it's not a legal process). This 15Lacs have transferred from Moscow to India during 2013 n 2014 into my NRE account. I haven't filed ITR since ...
Sir
I am ecommerce Seller and sell Footwear category on ecommerce portals like Flipkart and amazon
For Footwear gst rate upto mrp ra 499 is 5% and more than rs 499 it is 18 %
We purchase shoes from the factories of our own private label brand and they charge 5% in case of upto 499 and 18% if Mrp is more than rs 499
Now Flipkart and Amazon charges The sellers commission on which 18% gst is ...
Dear Sir,
I have not filed return for the assessment year 16-17 & 17-18 and now I am getting reminder through E mail & SMS to file the return as 31st March, 2018 is the last date & after ward I will not be able to file the return. I need your guidance as my case is described below.
I was working in gulf from 01/11/2014 to 31/12/2016 and holding status of NRI during the accounting year 15-...
QUERY ON CAPITAL GAIN TAX
- One Public Ltd Co. (Unlisted) has got a Plot of Land (about 37 acres ) near Bengaluru, which was purchased in 2006 for about Rs.101 lacs.
- Thareafter, to protect the Land from encroachment etc., the Company constructed a Boundary Wall cost of which came to about Rs.225 lacs, duly supported by vouchers and bills.
- In the current Financial Year i.e. 2017-18, t...
There are 240 flats in our society KLJ Platinum Plus, Sector – 77, Faridabad out of which more than 160 took over possession and staying. The flat buyers have registered RWA in the name of RWA KLJ Platinum Plus D1 to D4, Sector – 77, Faridabad.
For the maintenance (security, Lift, Fire hydrant system, water, common area housing keeping, gardening, sewage system etc) of the society the Develop...
Hello,
My salary breakdown structure is as follows :-
Basic 25,333.58
Internet 1,000.00
Petrol and Driver Allowance 10,000.00
Meal Coupons 2,200.00
Employer PF Contribution 1,800.00
Leave Travel Allowance 5,000.00
Fixed Total 45,333.58
Flexible(Including FBP Components)
Component Name Monthly
House Rent Allowance 10,133.42
Conveyance Allowance
Children Education Allowance
Me...
The assessment Year 2017-18
Filed ITR form type ITR-4
Source of Income- LIC Agent
Error Code 86
Error Description- As per Section 44AD(6) of the Income Tax Act, 1961, the
provisions of Sec.44AD are not applicable to – (1) persons
carrying on professions that are referred to in
Sec.44AA(1), (2) persons earning income in the nature of
commission or brokerage, and (3) persons carrying ...
Hi! I have got a query regarding Salary Vs Professional fees- what should be opted?
I have got a friend who is a dentist and his monthly income is 70k. she has joined a private hospital where he is been paid like that. The hospital owner is depositing 70 k per month in his bank account. now being asked about form 16 he is saying we are treating you as a professional and cant reduce the TDS a...
Dear Sir/Madam,
I am working as a commission agent for a company in Europe. I help them in selling the product in India. They submit the offer, Customer place the order on Principle directly. Principle supply the goods & collects the money. In return they pay me commission on it.
Now under export of services Export of services’ means the supply of any service when,–
The supplier of servic...