MANOJ KUMAR JAIN
21 October 2018 at 14:40

Query for expenses booking

ONE OF MY EXPORTER CLIENT GOODS EXPORTED IN MARCH'18 AND SHIPPING BILL DATE IS 29.03.2018,

AND GET FREIGHT BILL DATED 30.04.2018 WITH GST AGAINST ABOVE EXPORT, NOW MY QUERY IS :
1. FREIGHT TO BE BOOK IN FINANCIAL YEAR 2017-2018 OR 2018-2019
2. IF FREIGHT BOOKED IN FINANCIAL YEAR 2017-2018 THEN TDS TO BE DEDUCT OR NOT



Anonymous
20 October 2018 at 13:54

Audit report under form 10 b

A Trust is registered under Bombay Public Trust Act but NOT Registered U/S 12 A of Income Tax Act. Its total Revenue is 19,31,037/- and Net Surplus is Rs. 3,48,466/- for the Assessment Year 2018-19.
The Trust is getting Audit Report Under Form 10B and filling Income Tax Return. It also claimed the Deductions towards Capital Expenditure U/S. 11.
Kindly guide whether the audit without Registering U/S 12 A is correct or what should the Trust have to do.



Anonymous

For preparing financial statements for LLP, whether depreciation under schedule VI is mandatory or depreciation under the income tax act can be followed.


Jay V
10 October 2018 at 10:10

Regarding clause 8 of form 3cd

My Turn over is Rs. 1.30 Crores so which clause is application i.e.

1. Clause (a) – If total sales, turnover or gross receipt in business exceeds Rs. 1 Crore

or

4. Clause (e) – If Profit)s u/s 44AD claimed to be lower than the presumptive profits and gains.

Because in F.Y. 2017-18 turnover limit for limit for Sec. 44AD increases to Rs.2 Crores.


Ritesh
04 October 2018 at 22:00

Clause 27(a) of form 3cd

Clause 27(a) of form 3CD requires to give CENVAT Credit/Input credit(ITC)........

But some experts express their opinion as follows;-

1. for AY 2018-19 the details would be required for the period up to 30th June 2017 only.Details of GST is specifically not asked for,hence need not be given.
2.In the Schema available on the ITD website it also include ITC (GST), however as the same has not yet been duly notified by CBDT,hence the same not be reported.

Need a clarification from experts.
Best regards


rishabh bhatia
27 September 2018 at 23:53

Tax audit

Dear,

I have a query relating to tax audit, Whether in clause 27 GST ITC availment and utilisation is given, if yes , what is to enter in next column treatment of same to profit and loss.


SUJIT BANERJEE
25 September 2018 at 13:48

Tax audit 44ab

GROSS TURNOVER F/Y 2017-18 (A/Y2018-19) 1,70,99,332/- NET PROFIT 6,27,980/- % OF PROFIT 3.67254%. SHOULD TAX AUDIT UNDER 44AD.


DIVYA BHAVANA
23 September 2018 at 20:33

Doubts in professional ethics chapter

PLEASE CLARIFY MY DOUBTS AS SOON AS POSSIBLE .THESE ARE MAKING MY MIND CLUMSY.PLZ DO REPLY FAST SINCE EXAMS ARE NEAR.

1.Can CA with COP
a.start any business with ICAI permission?
b.Start a Trust?
c.become a member in Political party?
d. be an employee in any firm or company in capacity as ca or not.
e.be a partner of business firm
f.use prefix CA anywhere without restrictions
g.Display direction boards to ca firm
h.say the firm name he worked in the past in interview
I.put hoarding or big pic in newspaper by his friend congratulating for silver jubliee celebrations of ca firm or achieving rank in ca

2. All above questions incase of holding part-time COP
3.All above questions incase of just passed CA not holding any COP but in full time employment in a company


Mahendra Kumar

One of my client incurred much loss (6 time of Assets & Capital) in private Limited Company Balance sheet and no sales in previous year.
Which Independent Audit report (IAR) I will issue? And is any reporting required on going concern accounting standard and where?

Please suggest me


Ramachandra Reddy
20 September 2018 at 07:49

Company accounts depreciation

What was the accounting treatment for tangible fixed assets written off i.e the life of the asset is completed. How to show in the profit and loss account.






CCI Pro



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