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Siddiq
I have done taken payment into my saving account using company gst tin by paywithindiamart ,, is it necessary to file gst returns would i be tracked for the transasction
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Yes you have to show the transactions into your company GST returns
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Mohan
I am working with X company and receiving form 16 and PF of X company but actually I am getting salary credited to my bank account from Y companies bank account or any other bank account which is not of X company.
X and Y companies have different PAN NO ,TIN NO and PF account numbers .Is it correct as per law? As I fear that Y company can claim amount back as I am no way related to Y company.
Ideally the company which issued you the offer letter should transfer the salary amount and do PF etc. You may need to check this with your employer. This is not correct as per law.
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Kunnu
GST is applicable on leasing dedicated server from foreign country?
A lease is a contractual arrangement between Owner (lessor) & user (lessee) whereby one party, the lessor, grants the right to use a particular assets (such as a parcel of land, building, equipment, or machinery etc) for a specific period and under specified conditions to the other party, the lessee.
Leases are broadly classified into two categories :
1) Finance Lease
Finance lease is relatively for a longer period which is sufficient to amortise the capital invested by the lessor (owner) & leave some profit. It involves transfer of all risk & rewards associated with the ownership of assets to the lessee but the title may or may not be transferred at the end of lease period.
2) Operating Lease/Service lease/Maintenance lease
Operating lease is relatively for a short period of time. The lease period is shorter than economic life of the assets. Operating lease require the lessor to maintain & service the leased assets.
The taxable event in GST is “supply” of goods or services or both. So a transaction to become taxable it must covers within the meaning & scope of “supply”
As per Sec 7 of the CGST Act, 2017, the expression supply includes all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business;
As per Sec 2(83). “outward supply” in relation to a taxable person, means supply of goods or services or both, whether by sale, transfer, barter, exchange, licence, rental, lease or disposal or any other mode, made or agreed to be made by such person in the course or furtherance of business.
From the above discussion, it is cleared that the term “lease” is covered within the meaning & scope of “supply” and it is a taxable supply.
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Mahesh Natarajan
If a relative of mine in India transfers a substantial amount to my NRO account in India, are there any taxation attached to it?
You or anyone else can transfer funds from normal SB to NRO account, Its not taxable in India
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Ashish Bansal
Sir,
I want to ask about my calculations of long term capital Gain tax...
I purchased a house on 15 /12/1996 of Rs. 1,30,000. Afterthat, I made a construction of Rs. 50000 in 2003-2004 financial year. Afterthat, once again i made a construction of Rs. 3,72,508 In 2016-2017 financial year. Then again I finished as painting of my house of Rs. 64,295 in 2017-2018 financial year. Then I registered the house in my favour In 2015-16 F.Y. costs Rs. 56,120. Now, I sold my this registered property Of Rs. 10,43,800 on 04/04/2018.. Now please tell me the complete calculation of This long term capital Gain.. and it's tax, which I have to be paid in Next year ITR filling... thankyou so much in Advance . Please solve this issue ASAP .
I guess you have to book a paid service with Finaco to get the answer
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