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Aryan
Buy a 10-20L car as a gift for someone. What are the tax implications?
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If you are buying the car to gift to a relative(mentioned under Income Tax Act), then there will be no tax implication in the hands of the recipient.
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Sonal Sharma
I am looking for computation of income
Pl contact cashrutigoyal127@gmail.com for more enquiry
CA Rohit Mittal 22 Nov 2022Kindly contact on 8699799959 or carhtmittal@gmail.com
CA Puja Sharma 25 Nov 2022For Income Tax related consultation, you can connect with me at ca.pujasharma@outlook.com
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Sreelakshmi
I am currently working ina public sector bank..i have a query regarding NPS. Can the Employee contribution to NPS directly by deduction from the salary be considered under 80ccd(1b) that is additional contribution to NPS. Or should it be voluntarily contributed other than salary deduction
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Anant Singh
Dear Sir,
There is a query in respect to availing and utilizing input credit of CGST, SGST & IGST
I want to understand that if Input of CGST&SGST can be availed and utilized to offset against IGST
To be more specific:
Case 1 .
We are a Event and Travel Management company incorporated and registered as a PVT LTD company in Delhi. with GST registration in Delhi.
We are booking Hotel Rooms for a corporate client for 3 Days in GOA.
This assignment is through an Event Management Company, in this we are only doing hotel room booking
We have negotiated a rate from hotel and further selling it to event management company with a markup. we shall receive the payment through event management company
Hotel will bill to us e.g., Rate at X + GST (@18%)
We will further charge the event management company at a rate of (X + Y) + GST (@18%)
The event management company is also registered in DELHI and the client is also registered in DELHI
Query.
1. Can we avail the input credit of CGST +SGST from the invoice raised by the hotel and utilize it against to setoff IGST to The Event Management company.
2. If availing CGST & SGST and utilizing against IGST is specifically restricted for hotel/immovable property or is it for the supply of goods also
Case 2
We are a firm registered in Delhi and procured goods from a vendor registered in Delhi and got an invoice of CGST & SGST
Now we have a client in Uttar Pradesh and we supplied him the same goods with a marked-up price at its office in Uttar Pradesh and charged IGST
Please suggest can we avail the input of CGST & SGST to offset it against the IGST
Requested kindly suggest,
Thanks & Regards
In Case 1 you can’t avail the input for CGST & SGST, as the place of supply is GOA i.e. Where the hotel is situated.
And in case 2 you can avail the input.
For more assistance, Feel free to call
Mob. No. 8699799959
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Sangamesh S K
I am working in a private nursing home with 2.5 lakh per month salary. I get 2.25 lakh in hand after 25k tax deduction. How much tax i need to pay at the year end?
Dear Sangamesh,
First of all we needs to understand are they paying salary or professional/consultation fees ? It seems that they are paying consultation fee to you and deducting TDS @10% i.e. Rs. 25k. If this is the case then tax working will be different and we can plan you tax in different ways. And in case if they are paying salary to you (Most probably they will not pay salary) in that case your entire tax will be deducted by the Hospital, however we can also do some tax-planning in that case.
For further consultation you can approach us at ca.rahuldwivedi@gmail.com or 900448537
