Respected sir,
We are building a hotel, and we are partnership firm, so for all works are given to subcontract basis and all the amount paid to subcontractor is our expense. So can i capitalized that expense? or i have to pay tds on that expense and show that expenses in p&l. if i show all that expense in p& l then for current year and next 1-2 year we will be loss making firm reason behind that is currently our construction work is ongoing and it is likely to be completed in next 1-2 year.

1. I am in Maharashtra. I was Regd for Prof Tax in Last FY 18-19 when I was working and was Regd for Prof Tax and same was paid in full. I am a Tech Consultant. I file ITR4A.

2. In Current FY 19-20, I am not working as I am doing a fulltime course from Mumbai Univ. So have No Consulting or Salary income. I was told that de-registering an dlater registering is tedious process.

Query:
Do I need to pay Prof Tax in Current FY 19-20 even though I am not having any Salary or Consulting income? I am filing NIL GST returns.
As and when I start working, I can then start paying at Rs 200 pm for balance months in FY.
Is above acceptable as per Prof Tax rules?
Please let me know asap.
Thanks

Dear Sir,

There was a partnership firm of 2 partners in which one partner died.

There are large amount of debtors in the books of accounts of the firm.

The firm is planning to admit a new partner in the firm.

What can be done to avoid closure of bank account of the firm since there are many sales bill issued in the name of the firm and the amount is pending to be recovered.

How do we proceed further.

Regards,
Divyesh Jain

A/c No.1 A/c No.1 A/c No.2 A/c No.21 A/c No.22

Employee 12%

Employer 8.33% 3.67% 1.10% 0.50% 0.01%


Respected Sirs

Please confirm whether the aforesaid % on account of contribution is correct ?

With kindest regards

There are two companies one is "A" and the second in "B". Both are sister concern. "A" is supplying machines to "B" and "B" is selling machines to Customers. Both the companies having GST number & keeping machines in the same warehouse. My query is when "A" is selling machines to "B" & there is no transit, it is necessary to generate E-waybill?

Hi,

My One Client having 3 partnership firm in andhra Pardesh and getting remuneration from all the 3 firm.

Govt. says that Professional Tax on Firm is Rs.2500/-p.a.

and partners liability is Rs.1250/- p.a for each firm and each partner.

Means single person having partner in 3 firm need to pay professional tax 3 times as a partner.

is it correct?

please guide.

One Pvt.Ltd.company closed suddenly without any written communication to their employees.Some of them 15 to 30 years worked with that company.In good faith employees believed the management.They told once the sales proceeds from selling factory and office building settling their accounts.Now 5 years lapsed.No news from the management.They sold all the properties.Not settled employees dues.Now If the employees approach the Labour or Gratuity commissioner,possible to get their dues?

Sir there is sick cash credit account in our Bank. We trying to convert that into WCTL .But I do not know how to calculate sacrifice in case of converting CC into WCTL. Sir my second doubt is that the pre-restructuring rate is 12% and post restructuring rate is 10%. So while calculating PV of CC and WCTL ,which rate will be used in both.
Regards.

Calculate Weighted Average Cost of Capital from the following using a) Book Value Method b) Market Value Method 1. Equity share capital Rs.3,50,000/- with cost of Equity @ 10% Market value is Rs.4,50,000/- 2. 8% Preference Shares of Rs.4,00,000/- and its Market value is Rs.4,50,000/- 3. 6% Debt of Rs.6,00,000 and its market value is Rs.5,60,000/- 4. Retained Earnings of Rs. 1,50,000/- which has no change in the market value. It cost is equal to that of cost of Equity Kindly Calculate and send it back to me . It needs urgent

Read more at: https://www.caclubindia.com/experts/calcualtion-of-weighted-average-cost-of-capital-2725594.asp

My son a NRI is working abroad, now he is planning to take a loan of euro 25,000.00 in Germany.
As per Indian law can he transfer the loan amount through NRE account to India. (we like to use this amount to clear existing loan standing in his father's name)
Regards
Vaidhyanath.
Bengaluru