My friend's mom is a senior citizen and a homemaker. She is likely to sell her husband's ancestral property which is now in her name after her husband's death. However, she also have four children who also are co owners of the property located in her native place.
Now, suppose she sells the house property for x amount. 50% payment of the property goes to her and rest of the money will be red...
Respected Sir,
We would like to inform you that we are facing problem regarding filling of Transitional form (TRANS 1) for our unit ADHUNIK INDUSTRIES bearing GSTN 18ABGFA5778A1ZG .We are a SSI unit and have Rs 2371463 as cenvat in our last return (June’17) of Central Excise .So we tried to file TRANS 1 under GST regime. But after putting the data when we click the save button it got saved...
Dear Sir,
I am dealing in Petroleum Products in International Markets. I am quite concerned about a few points and if you could assist me with.
1) The Buyer of Petroleum Product is in Taiwan & the Supplier is in Russia. But the supplier is using his Fiduciary Bank Account for receiving the payments in USD.
2) I am purely an intermediary who is entitled to receive the "commission".
3...
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...
Dear Experts,
I have Filed income tax for my Sister as she has beauty parlor Business under 44ADA and after more than 2 months i got communication from CPC u/s 139(9) that it is defective. In original return I have mention the code of business as 0714- Service Sector Other
Error code is 89- The provisions of Section 44ADA not applicable to the taxpayer. The nature of business code in Sch NOB ...
Hello Sir,
I have some queries regarding long term capital gains
An individual bought a land 8-10 yrs before and later went in to joint venture with builder to build an apartment on that plot and got 10 Unit of Flat as his part. Now he is selling all units and getting capital gains. So my queries are
1. If he sale the flat and construct a house jointly with wife and claim his contribution f...
I am a post office agent so i earned from commission..........i fill my tds return as itr 4
but i today got a mail showing
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)...
Dear Experts,
I have filed income tax as a consultant Financial planning and analysis under 44ADA and after more than 2 months i got communication from CPC u/s 139(9) that it is defective.
Error code is 89- The provisions of Section 44ADA not applicable to the taxpayer. The nature of business code in Sch NOB is not a profession, and the income disclosed under Section
44ADA income is more tha...
I am an individual engineering service consultants,
I m getting income under 194J , as a consultant to an Engineering firm.
I had filed my ITR of AY 2017-18 via ITR 4S PRESUMPTIVE BUSINESS AND PROFESSION RETURN.
but now i have got notice for defective ITR , reason is written as below -----
error code 89 -- stating that the provision of section 44ADA is not applicable you.The nature of bus...
Dear Experts,
I have filed income tax for my mother as she is working as a teacher in private school and providing private tuition to students also under 44ADA and after more than 2 months i got communication from CPC u/s 139(9) that it is defective. I have used the code 607.
Error code is 89- The provisions of Section 44ADA not applicable to the taxpayer. The nature of business code in Sch N...
I got email from Incometax department giving information as "The return of income filed by you for Assessment Year 2017-18 vide acknowledgement no. [deleted] dated [deleted], is considered defective u/s 139(9) of the Income Tax Act, 1961 as it is found to contain certain defects which has been annexed in.
Error Code : 86
Error Description : As per Section 44AD(6) of the Income Tax Act, 1961, ...
Dear Sirs,
I have following questions.
1) Reversing sales of July2017. I have to reverse the sales invoice of July2017 on which I have paid GST in August 17 also filed GSR1 for July2017. Now my customer says that I have to cancel my Invoice as it is no more accetable by him.So we will have no receivable againt this invoice.
How to treat this entry under GST please. I have to reverse the sa...
Hello,
I am full time web developer working with foreign clients, and the payment deposited to my bank directly via PayPal and Upwork (online portal for freelancers), so basically I work as freelancer in web development.
So, based on reviews online at different websites, I had filled my IT return via ITR-4 this time under section 44ADA, presumptive taxation for professionals at 50% where ...
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 on...
I am filing for a EIN for my new S-Corp.
My goal is to only pay taxes once a year - but to work within the law.
I will be the only employee of the company but will not receive a salary because I unclear of how much money I will make.
If I do employee anyone, I will pay them with a 1099 form. Therefore I will not be paying SS or any type of tax on their pay.
Form 941 - File taxes 4...
Hi ! recently i have started a online shopping store which sell clothes, accessories, footwear of both men and women. So, basically what i am doing here is I am sourcing my product from outside of india. My supplier/wholesaler are located in different part of globe i.e. australia, new zealand, us, uk, spain, china what i am doing here is.
1. I display there product on my site using there websi...
Hi! How are you?
I am Taynah, and I am opening an online store using WooCommerce, in Wordpress.
Whiting the plug-in settings there are questions regarding Sales Tax. (The specific questions can be found here: https://docs.woocommerce.com/document/setting-up-taxes-in-woocommerce/ )
My situation is that I am a Brazilian, looking to sell products internationally, mainly to english speaki...
In the return i had shown Rs. 5346/- as short term capital gain from sale of shares (trading) to be charged at 15% special rate. Received a notice from income tax department that there is discrepancy under section CPC 143(1) that "Income chargeable to tax at special rate other than 115BBE" in Sr. No. 11(ii). In the return no amount was written and in return prepared by incometax department the ...
This is with regard to sale of property in delhi acquired 30 years back.The prevailing market rate of the property is much below the circle rate of the area in which property is located.The property falls in Category A in delhi. The prevailing market rate of the property is almost 40% less than the circle rate due to depressed market conditions.
Please advise wrt 1. Payment of CAPITAL GAINS ...
I have mobile app earning revenue from download of paid version and advertisement revenue in free version. The total receipt is bit over INR 10,00,000. There was no books of accounts maintained as there is no daily exchange of cash/money, only monthly payment from the App store are credited to a savings account. As the sales are indirect (Store deals with the customers), and considering the ser...