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Click here to Post your Query >>5983 unanswered question(s) — Showing 801–820
| Que. Id | Date | Description |
|---|---|---|
| 20787 |
Nov. 27 2021 |
Stock Audit Empanelment –
(AUDIT)
I recently started practice, would my firm be eligible for bank stock audit? if not what are the options to get it empaneled BY: CA GAJENDRA SHARMA No answers yet View Answers | Post Answers |
| 20785 |
Nov. 26 2021 |
FORM 29B IN CASE OF LOSS –
(DIRECT TAXES)
Whether filing of Form 29B is required where there is loss as per Income Tax Act, loss as per books of accounts and book profits are also in negative? The company is not liable for audit u/s 44AB. If filing of Form 29B is required, then how to report Loss in Point no. 6 Total Income of Company as Form 29B on Income Tax Portal is not allowing negative figures? BY: vikas kalra No answers yet View Answers | Post Answers |
| 20782 |
Nov. 25 2021 |
Clause 16(d) of Form 3CD –
(DIRECT TAXES)
Sir, Clause 16 is about "Amounts not credited to Profit and Loss Account" and Sub Clause (d) "any other item of income". Does this Clause 16(d) means any income which is not credited to Profit and Loss Account needs to be reported. Especially for a Proprietary Concern there can be Income From House Property or Income From Other Sources (Interest on Fixed Deposits) which are normally not credited to Profit and Loss Account. Does this clause cover to include such incomes which are not Credited to Profit and Loss Account. BY: CA. KRISHNA MURTHY N No answers yet View Answers | Post Answers |
| 20783 |
Nov. 25 2021 |
Can Sole Proprietors Create a Partnership Firm ? –
(MERGER & ACQUISITION)
Two sole proprietors say A & B practices in their own proprietorship firms, they wants to create a partnership firm say XYZ. Can it is possible that both the partners practices in their own proprietorship firms and also in partnership firm XYZ ? Also please discuss whether in partnership firm counts experience of senior most partner. BY: KAMAL KISHORE VERMA No answers yet View Answers | Post Answers |
| 20784 |
Nov. 25 2021 |
Long Term capital gain –
(DIRECT TAXES)
An individual has sold a Plot after holding for 8 years and Sales consideration is 10 Lacs on which after indexation Long term capital gain of Rs 740000-arises He has invested Rs 7 Lacs for purchase of residential house within one year of transfer Under sec 54F Deduction of 540000- is available and around RS 200000- becomes Long Term Capital Gain liable to 20% Tax Can he invest another 3Lacs on another residential house to avoid tax payment by transferring 3Lacs to Capital gain scheme to reinvest 3 lac within 2 Years of sale of Plot Kindly advice BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20781 |
Nov. 24 2021 |
255279 –
(DIRECT TAXES)
What was the recourse under Income Tax Law that left to the Assessee, who is seller of the Land, when Stamp Duty Value is much higher than Actual Market Value of the Land ? BY: RYALI VAMSI KRISHNA No answers yet View Answers | Post Answers |
| 20780 |
Nov. 23 2021 |
Stay Petition –
(DIRECT TAXES)
I have filed appeal against order u/s 143(3) in facelss assessment but the jurisdictional AO is asking for payment of 20% demand. How do i file stay petition under faceless assessment scheme? Kindly help asap BY: JAYASHREE RAJKUMAR BANG No answers yet View Answers | Post Answers |
| 20779 |
Nov. 22 2021 |
FORM 29B –
(DIRECT TAXES)
Is Form 29B mandatory in all cases? Subsection 4 to section 115JB states that Every company to which this section applies, shall furnish a report in the prescribed form.i.e Form 29B. BY: CA Shrawan Suthar No answers yet View Answers | Post Answers |
| 20778 |
Nov. 20 2021 |
Tax Audit reports –
(DIRECT TAXES)
Json file prepared is not being accepted while uploading by CA's showing it Invalid BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20776 |
Nov. 17 2021 |
Reversal of ineligible credit –
(GST)
ITC was wrongly declared as ineligible. How to reverse the same as negative figures is not allowed under ineligible row of 3B. BY: SURAJ KUMAR CHOUDHARY No answers yet View Answers | Post Answers |
| 20777 |
Nov. 17 2021 |
Applicability of Surcharge on TDS made u/s 195 –
(TDS/TCS)
The assessee has purchased a property from an NRI for an amount exceeding Rs one crore. While deducting TDS on total consideration ( not on the Long Term Capital gain) should EC and SC also be deducted on Total Consideration? BY: Y.KANAKAMAHALAKSHMI No answers yet View Answers | Post Answers |
| 20775 |
Nov. 15 2021 |
444964 –
(GST)
WHETHER FOOTBALL PLAYER CAN OBTAIN GST REGISTRATION FOR THEIR MATCH PLAYING SERIVICE . IF YES , PLZ SPECIFY THE SAC CODE..... BY: ARIHANT JAIN No answers yet View Answers | Post Answers |
| 20774 |
Nov. 09 2021 |
Sole practice and proprietary concern. –
(MERGER & ACQUISITION)
Hi everyone, I have registered as a sole practitioner in 2016. After 2 years I have registered my proprietary concern. Now I am being intelligible to get bank audit empanelment because I am not exclusively associated with my firm. What is the best way to retain my experience of 5 years sole practice and getting empaneled for bank audit. Can I merge my sole practice in to my firm or I have to terminate my self as a sole practitioner. Please suggest. BY: GIRIJA SHANKAR KOTA No answers yet View Answers | Post Answers |
| 20773 |
Nov. 02 2021 |
provisional balance sheet –
(AUDIT)
can a practicing chartered accountant sign provisional balance sheet ( non audited ) ? if yes what should he mention in the balance sheet while signing and whether UDIN is applicable for that or not? BY: AKSHAYA CHANDRAKANTH KAMATH No answers yet View Answers | Post Answers |
| 20772 |
Nov. 01 2021 |
IGST in Export Invoice –
(GST)
In case an Exporter opts for Supply of Goods on Payment of IGST, then Whether the exporter shall charge IGST on FOB Value or on (FOB Value + Insurance + Freight) ? Please advise and clarify. BY: Gaurav Kumar Baranwal No answers yet View Answers | Post Answers |
| 20771 |
Oct. 30 2021 |
3CBCD Json file not being uploaded on portal –
(AUDIT)
I have prepared Json file but while uploading it shows Invalid File BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 20770 |
Oct. 27 2021 |
Tax audit –
(AUDIT)
A professional following cash basis ,whether tax audit is applicable or not in following circumstances , if yes than under which clause of 44AB, 1) Turnover as follows Billed RS 48 lakhs Receipts Rs 32 Lakhs Trading in Stock Market 40 lakhs 2) Turnover as follows Billed RS 48 lakhs Receipts Rs 32 Lakhs Trading in Stock Market 80 lakhs 3) Turnover as follows Billed RS 48 lakhs Receipts Rs 32 Lakhs Trading in Stock Market 1.05 crore Note:- 1)What if wants to offer Income under presumptive 44AD and 44ADA from professional activity is more than 50% of receipts and from trading of stock market is less than 6% of Turnover 2) Limit for tax audit U/S 44 AB for professional is above 50 lakhs and others is above 1 crore and if certain condition are satisfied than above 10 Cr BY: CA. MEHTA DEVANG PRATAPRAI No answers yet View Answers | Post Answers |
| 20769 |
Oct. 26 2021 |
Accounting of Joint Developement Agreement –
(MISC.)
How to make entries in books of account of Builder for Joint Development Agreement and flats given to landowner ?? BY: Ninad Prataprao Shete No answers yet View Answers | Post Answers |
| 20768 |
Oct. 17 2021 |
Legality of order passed u/s 144 –
(DIRECT TAXES)
Facts Individual Assessee has not filed original ITR for AY 12-13 based on some information AO has reopened the case u/s 148 in March 20 and assessee has also not filed his ITR within 30 days of service of above notice but filed delayed return against notice u/s 148 (before framed. Or completion of assessment ) Query Can AO passed order u/s 144 where assessee filed ITR before completion of assessment without issue notice u/s 143(2) of income tax act BY: SANDEEP KAPOOR No answers yet View Answers | Post Answers |
| 20767 |
Oct. 14 2021 |
SERVICE TAX LIABILITY ON CREDIT CO OPERATIVE SOCIETY –
(Service Tax)
A credit co operative society is accepting deposits and lending to its members and accordingly earns interest income. It also provide some other services like railway ticketing and running electricity bills collection centre from which it is receiving commission income from IRCTC and PGVCL. Interest income - 25 Lacs Commission Income - 1.5 Lacs What are the service tax implications in the instant case. BY: DARSHAK MAGANLAL THAKKAR No answers yet View Answers | Post Answers |
