good morning all.,
My best wishes to all tax professional's for the new financial year.
i have one doubt in annual return.
while filing GSTR-9 for FY 18-19, we shown the refund details (refund claimed,refund sanctioned and refund pending) which relevant to FY 19-20. just now we looked the mistake while we filed GSTR-9 for FY 19-20. so now what would be impact due to this mistake?.
anyone clarify me sir

Dear Sir

Please suggest regarding GP. In 2018-2019 My Gross profit 8.37% In 2019-2020 its 8.37% But in current Financial year 2020-21 its 7.10% even my purchase and sale increase from last year. Can i face any issue Surcharge or plenty from Income tax or GST department.
Please guide

I am a Chartered accountant, first 6 months i was employed and was earning salary and next 6 months I was into practice and hence earning professional income.
my questions is how should I treat accounting of the tax liability in tally/books.
one ITR will be filed with both salary and professional income and one final tax amount will be computed but should i show this tax amount in my professional accounts or personal account? since i need to adjust TDS also while paying these taxes and in my professional account/tally only TDS on professional income is booked where as TDS on salary income is reflecting in my personal books.
P.S. i keep two books in tally - for my individual firm and my personal finances.

kindly guide.
thanks

Sir,

Is it possible to return goods to company through Sale bill instead of Purchase Return. All the Companies are insisting for sale bill. If sale bill can be issued , then how to bill expired/damaged good in Sale bill. Is this possible? Please help.

Sir,
It Assess accounting books outstanding balance as on 31-03-20.
Cash loan from friend balance rs: 5 lacs.(name Mr.A)
Cash loan to friend balance rs:4 lacs(name Mr.b)
Cash loan from friend Rs: 5 lacs balance cash loan to friend Rs:4 lacs Contra adjustment accounting entries passed in books as on 31-3-21.
Question:
1.Assess above contact accounting transactions allowed in it act.
2.sec 269st or 269ss applicable

Please highlight on interim dividend(recivable) declared by the other company after the closing of accounts on at the end balance sheet date.
kavan ltd has declared divdend on 10th may 2017 for theyear ended 31/3/2017, which is approved by shareholdersin AGM meeting held onn 30th june 2017.
how to report it in the books a investmnet company that has invested in the kavan Ltd.

WE HAVE A LAND IN NAME OF TWO PERSONS A S B AND ONE BULDING IS MADE ON THAT LAND
THERE IS A SOLE PROPERITORSHIP FIRM WHOSE OWNER IS A . A IS SHOWING BULDING IN ITS BALANCE SHEET AT ITS OWNERSHIP RATIO AND EXPENSES ON ERECTION OF BULDING IS PAID BY A FIRM CURRENT ACCOUNT IS IT RIGHT IF NOT THEN PLS ADVISE HOW TO SHOW LAND S BULDING IN EACH OF THEM BALANCE SHEET AND ERECTION ON BULDING COST IS TO PAID BY WHOOM AND EFFECT IN RESPECTIVE BALANCE SHEET

Hi Experts,

Can we create Capital Redemption Reserve from Acc. Losses to buy back equity shares.

Thanks

Read more at: https://www.caclubindia.com/experts/ask_query.asp

Some expenses were paid by the Director from his personal account. Can the Directors loan account be reduced by the salary paid to him. What will be the journal entries in this case?

A registered cloth business composite scheme dealer sales to URD persons(customers) details per day transaction mentioned below.
1. Sales to URD customers Rs:1000/-
2.sales to URD customers Rs:500/-
3. Sales to URD customers Rs:800/-
4.sales to URD customers Rs:900/-
Above me sales details per one day all sales transaction through on phone pay or Google pay received from customers.
Question:
Dealer accounting entries passed in books
total single entry or 4 accounting entries passed is correct method