Issuing scrutiny notice _ AY 2019-20

Dear sir, Which is the last date to issuing scrutiny notice for AY 2019-20 ? Kind regards, Sameer jain

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  What should be done if the Karta of HUF is alive but becomes incapable of contracting?

What should be done if the Karta of HUF is alive but becomes incapable of contracting?

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  GST Regn.-Whether Additional New Activity started is required to be incorporated in GST Regn.

A trader registered with GST has started a new manufacturing additional activity under new HSN Code. Whether this new activity is required to be incorporated in the existing GST Regn.

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  Whether amount transferred to Indian Bank account of non-resident, for the dividend payment, whether the company can file Form 15CB?

Due to the introduction of TDS on dividend payments, the company has deducted TDS u/s 195 for the dividend payments to non-residents. Should the company also file Form 15CB for those cases? Also, please clarify what is the applicability of Form 15CB if the transfer is made to the Indian bank account of the non-resident?

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  Whether gift my maternal grandmother to the grand son is considered as relative and exempt u/s 56 (2)(x) of the Act?

Is gift by maternal grandmother to the grandson covered under the definition of relative for the purposes of section 56(2)(x)?

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  Presumptive Income under section 44AD of the Income tax Act 1961 how many years the assessee can continue ?

Individual or HUF who opt for Presumptive Income under section 44AD, is he continued till turnover not exceed as prescribed by law or he will continue for only five years from the date of first year when he opt for Presumptive Income.

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  Whether the assessee is liable to deduct tax at source on reimbursement of expenses ?

An Indian company has engaged a foreign company to keep some employees selected by Indian Company to keep on its ( foreign company ) pay rolls . The foreign company shall take payment from Indian company towards salary and other out of pocket expenses of employee and pay to employees, it shall also take care of local labour laws compliances and shall get % of the the total payments as its fees. What shall be treatment of this payment in hands of Indian Company - whether it shall FTS or payment of business profits for determining if withholding tax to…

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  Taxability of Interest on VPF.

Sir, Kindly clarify on the following issue in connection with investment under VPF for Private sectors. If the investment under VPF is above 3 Lacs during the FY2021-22, what will be tax effect and how much can be claimed as exemption If the VPF accumulation upto 31.03.2021 is Rs. 10 Lacs.  What is the taxability? Interest credited to the account will be on accumulated VPF amount, How to claim exemption and arrive the taxable interest? Whether interest taxable above Rs 2.5 Lacs is on Contribution made during the year or on the accumulation in the account?

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  At what circumstances the assessee will get immunity from penalty u/s 270AA of the Act ?

Good evening sir. The assessment is completed by making five additions to the total returned income. Penalty u/s 270A is levied for these five additions, one for misreporting of income and four for underreporting of the income. In this case, can the assessee opt for immunity from penalty u/s 270AA for that assessment year? Section 270AA(3) specifies that if the penalty is initiated on account of misreporting of income, then the assessing officer will not grant immunity from penalty. Please clarify.

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  Whether provisions of section 56(2) (x) are applicable to Rights issue of shares ?

Good evening sir. My query is: Are the provisions of section 56(2)(viib) and 56(2)(x) applicable on rights issue of shares? Mumbai ITAT in two judgements have held that 56(2)(vii)(c) provisions are not applicable to rights issue. So, similarly can it be said that 56(2)(x) provisions are not applicable to rights issue?

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