Piyush
23 September 2019 at 19:45

F & O Transactions

Asseessee HUF is trading in F & O

In A Y 17-18 & A Y 18-19, since F & O Turnover were More than 1 Crore & Profit were Less than 6%, so Tax Audit was done in Last 2 years.

In AY 19-20
F & O Turnover is Rs 21 lacs approx
and there is Loss in F & O business, No other Income Except Bank Interest


Will Tax Audit Applicable ?


Dushmanta Rana
23 September 2019 at 13:36

Total Number of Signing Tax Audit Report

How many Tax Audit Report can sign by a CA
and how many UDIN could be generated ?

Please let me know


Nitin Agrawal
22 September 2019 at 23:56

BORROWING COST ?

Dear Experts
Pls guide regarding query "Bank Processing fees & Stamp duty charges for Term Loan does form part of BORROWING COST ? "

If yes, how it will be treated in books of account ?

Thanks & Regards


Venkata Nagendra
21 September 2019 at 19:35

TAX AUDIT LIMIT OF 60 INCLUDES

IS AUDIT CONDUCTED U/S 44AD OF INCOME TAX INCLUDED IN AUDIT LIMIT 60 OR SAME WILL BE EXCLUDED IN COUNTING TAX THE AUDIT LIMIT. KINDLY THROUGH ON THIS MATTER


THANKS IN ADVANCE


Chintan Kareliya
16 September 2019 at 12:00

Applicability of Tax Audit

Respected Expert,
I Want to be clear regarding applicability of tax audit in the below mentioned scenario for individual carrying retail business:
Turnover for F.Y. 2018-19 is 82,00,000/-
Gross profit comes to 2,60,000/- (3.17%)
Net Profit comes to 1,20,000/- (1.46%)
Total Income for ITR comes to 1,22,250/-
Whether Tax Audit is Necessary in this Case???? If Yes then How??


karan kumar
14 September 2019 at 19:35

Extension of tax audit due date

Dear Experts,
Is there any update regarding tax audit due date extension.

Thanks
Karan


Priyanshu Goel

I have received building from related person covered under income tax worth Rs 5L and paid the stamp duty for the gift deed & has duly registered the deed.
Now my question is
Whether i can book the whole value of gift in my books of account? If yes provide the basis to show in the audit?


MEENAKSHI POKERA
14 September 2019 at 13:02

TAX AUDIT

DEAR SIR/madam,


I have one confusion in Form 3CD we required to disclosed chapter VIA deduction . I want to know whether such deduction expenses should form part of capital account of proprietor?.

If we will enter deduction details in form 3CD as it is the personal expenses of the assessee not of firm business , it will go?


Naga Sudheer nagisetti

PLS TELME LAST DATE FOR FILLING IT AUDIT


Nanu Gupta
12 September 2019 at 14:28

Tax audit

An assessee has turnover less than 1 crore and has loss. Under which section audit is carried out? 44ad or 44ab? Pls guide






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