Chargeability of capital Gain tax in case converted asset [capital asset converted to stock in trade – section 45(2)] is sold/transferred in parts in different years:

Input Tax Credit on Capital

Due dates for filling Income Tax Returns

Investment in adjacent 4 flats could be considered as ONE flat for capital gain exemption u/ 54

GST: Dont forget to claim ITC- 30th September is the deadline

Where two views are possible and AO had taken one view with which the CIT did not agree, it could not be treated as an erroneous order prejudicial to the interests of the Revenue

An Excel sheet of “All GST Circulars and Notifications” issued till date(as on 18/08/2018) for taxlayers convenience

GST Returns Formats

Less known Deduction that can save Tax

Capital loss– Carry forward and set-off–Set off of long-term capital loss on sale of unquoted equity shares against long-term capital gain on the sale of property

If salary /remuneration of partner exceeds turnover limit specified u/s 44AB, Audit is compulssory: Kolkata ITAT

Classification of goods-Rakhi-Whether classifiable as handicraft goods

Search and Seizure.

Penalty under section 129-Confiscation of goods-Declaration of delivery challan issued under rule 55 not made in rule 138-Validity

Income from undisclosed sources–Addition under section 69–Unexplained investment.

Classification of goods-Cryo container, also known as Liquid Nitrogen Containers-Rate of tax.

Levy of GST-Goods sold on high seas sale basis-Taxability

Business income or capital gains–Gain arising on sale of shares– Activity of purchase and sale of shares not being main occupation.