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It returns

July 13, 2018, 3:46 pm
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One of my friend is a salaried person.

He does consultancy business as a part time.

He has also has a loss in share trading around 25000.
While filing IT returns can the loss from Share Trading be adjusted against the salary income and COnsultancy ...

Please advice
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Liability of service tax on penalty collected from employee

July 13, 2018, 4:51 pm
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Dear Experts,

Regarding whether service tax will be levied on penalty amount collected by employer from the employee for leaving within the contract period???


Thanks in Advance
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Itr

July 13, 2018, 4:54 pm
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While filing my ITR I found that interest as per 26AS and bank interest certificate is not matching. What could be the possible reasons. Bank manager is not interested to help and does not understand much about this issue saying your CA will do. What shall i do? Whether i should show interest credited as per 26 AS in my return or as per bank interest certificate in my return. Interest as per interst certificate exceeds 4000 compared to 26 AS.
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Schedule tti

July 14, 2018, 1:42 am
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Dear sir,
I m filling ITR2 ay 2018-19(excel...)now but i m getting a problem relating to Calculation of tax. I have filled all the details but it does not calculate the tax automatically. When i validate the sheet it does not accept (error : Schedule TTI : Check for financial interest/ Assets out of India should be filled )

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Journal entry for non-monetary perquisite received

July 14, 2018, 1:57 am
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If an employee received gift coupon,i.e., non-monetary perquisite from the employer, value of which is Rs.40,000 and the employer has deducted tax on the same for Rs.1,900 and gave credit for the same to the employee (as per 26AS of the employee), then what will be the journal entry in the books of the employee for recording the same?

Treating Rs.40,000 as the income it goes to Capital Fund, but what will be the corresponding debit? As there was no money paid, so we can't debit Bank A/c. Then?
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Selling of a used car

July 14, 2018, 2:05 am
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Dear Sir,
Please let me know if a registered gst dealer wants to sale a used car whose selling price is less than its w.d.v. , in this case whether the dealer is required to pay gst on it?
Thanking you.
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Presumptive income

July 14, 2018, 2:17 am
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Xis a retired person and has following incomes for the financial year 2017-18

PENSION Rs. 20,000/- only

PROFESSIONAL INCOME FROM ACCOUNTANCY PROFESSION - Rs. 4 Lakh

LONG TERM CAPITAL GAIN - - Rs. 15 Lakh


As due to long term capital gain, X cannot file Form ITR 4 Sugam, for his Income of Rs. 4 lakh on presumptive basis, what he should do to show his income of Rs. 4 lakh on presumptive basis.
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Itr file

July 14, 2018, 2:52 am
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Sir,

Please solve my following quarry
1. If Public sector Employee He/She got Form 16 without deducted HRA and Conveyance allowance, But he/she paid the HRA and Conveyance allownace from His home to Duty Place shall we take these allowance while filling ITR 1.
I.e A) Salary as per provisions contained in sec 17 (1) Rs. 4,32,545/-
Less : Allowance to the extent exempt u/s 10 Nil /-
B) Deduction : Professional Tax Rs. 2400/-
Income chargeable under the head salaries Rs. 4,30,145/- (As per Form 16)

Kindly guide me shall i itr file after take allowance of HRA & Conveyance or not
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Commission income

July 14, 2018, 7:25 am
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DEAR ALL
MY POINT IS COMMISSION INCOME UNDER WHICH SECTION SHOULD BE DECLARED AND AT WHAT PERCENTAGE?
LIKE UNDER
44AD
44ADA
OTHERS
WHICH ITR FORM

REGARDS
BHARATH
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Business code

July 14, 2018, 7:35 am
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PLEASE TELL ME BUSINESS CODE FOR A/Y 18-19 IN CASE OF LABOUR SUPPLY ON CONTRACT BASIS?
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Tran 1 inputs

July 14, 2018, 7:37 am
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DEAR ALL

I AM RETAILER AND REGISTERED UNDER CENTRAL EXCISE AS DEALER HERE I HAVE NOT FILED MY QUARTERLY RETURNS AND I HAVE CLAIMED TRAN 1 (CENVAT)BASED ON STOCK WHISH WAS HOLDING UNDER 365 DAYS.
I NEED TO KNOW I AM ELIGIBLE FORM TRAN -1 CLAIM

REGARDS
BHARATH
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Capital gain on sale of agricultural land

July 14, 2018, 7:45 am
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Sir one of my client had an agricultural land which was received from his father in 1998 and now he is willing to sell it for Rs 25,00,000 does capital gains attract on sale of agricultural land situated 15 kms away from city limits

what is the amount of tax to be paid by him?
how to ascertain the profit on such sale ?

is there any possibility to avoid tax on such profit?

pleas help me
thanks in advance
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Exemption allowed or not

July 14, 2018, 7:51 am
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Dear Respected Member!!! Please let me know following query For F.Y. 2018-19 & A.Y. 2019-20 In salary breakup there is two components Driver allowances & Fuel Allowances, However car is belong to assesses and personally drive by employee for the purpose of coming office from home, while computing tax liabilities is it qualify for fully or partially exemption. Please suggest tax treatment. Is this Allowances will qualify for exemption if assesses produce bills for the same.
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Can i give only law exam in hindi medium

July 14, 2018, 8:02 am
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I am in intermediate group1
I was opt english medium
But can i give law exam in hindi language
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Filling itr 3 unavle to save xml from java

July 14, 2018, 8:13 am
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validation in java utility is showing no errors than also unable to save xml.
i tried to upload xml generated by "save draft" option but it is not valid to upload .
what to do...now...
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Tds traces-dsc problem

July 14, 2018, 8:16 am
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Please help me I am getting the following error ''the smart card cannot perform the requested operation or the operation requires a different smart card'', when I am trying to Sign through DSC at TRACES site.
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Itr for carpenter

July 14, 2018, 9:02 am
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Dear All

Client is working as a carpenter. having income of around 289000/- (FY 2017-18)

1) Which ITR form should be used? ITR 3 or ITR 4?
2) If ITR 4 is filed, on presumptive basis then what amount should be taken to declare 8% profit?
3) Which code (Nature of business) should be filled in ITR?

Thanks!
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Vat returns

July 14, 2018, 9:05 am
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Asses see has not filed vat returns for the period April- june 2017 under Karnataka Vat act. Can it be filed now? What would be the interest and penalties ?

Thank you

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Itr2

July 14, 2018, 9:09 am
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NRI (WORKING IN IRAK THROGH USA COMPANY,RECEIVED SALARY IN INDIA IN HIS SAVING ACCOUNT.
HIS INCOME IS TAXABLE OR NOT.WHAT INFORMATION TO BE FILLED IN FSI SCHEDULE OF ITR2.
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Converting from regular scheme to composition

July 14, 2018, 9:14 am
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Dear Sir, I was under regular scheme of GST up to 31-03-2018 and from 01-04-2018 i have converted it to composition scheme. Now i have to file composition GST Return in GSTR-4 for the period from April 2018 to June 2018. However, with the regard to the stock held on 31-03-2018 on which i have already utilized the input tax credit during the month of March 2018 GST Return itself, but the stock was sold after 01-04-2018 under composition scheme. Now what are the computation and permitations are to be taken care. Kindly advice.
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