A society having 80G & 10AC(12A) worked for a training project in hills sponsored by Govt of Uttarakhand.
The work was completed in FY 22-23 & bills submitted to govt in March 23.
The State Govt booked the bills in FY 23-24 Cleared the Bills in FY 23-24.
The expenses were payable by 31.03.2023 & paid after receipt in May 23.

How do we treat the receipts in I/E account for the FY 22-23

Whether addition in unsecured loan amount due to credit of interest and deduction due to TDS deduction need to be reported U/s 269SS and 269T, as acceptance of loan and repayment of loan

Hi,
A partnership firm is registered with 2 partners and one partner dies in March 2021 , but the firm continues its business activities till date and files his GST and Income Tax return in Firm status. As one of the two partners dies, the firm should be dissolved as the number of partners after death is below 2.
This year the turnover is above 2 crore and its liable for 44AB audit. Please advice whether an auditor can accept the engagement and if yes, what audit qualification has to be put on the audit report and other matters also.

Sir, my first question is can I do audit for last two years ? If yes, then I want to file previous two year i.e. AY 2021-22 and 2022-23. But I have to do tax audit as my turnover is exceed the limit. My 2nd question is that can I adjust my TDS with tax liability in this two corresponding years ? (Exmp: TDS rs.35000/- +Self assement tax rs. 15000/- where total Tax liability Rs.50000/- ) Sir please help on this.

Hello everyone,
following details are available as on 31.03.23

Cl wdv as per books : 100 cr
cl wdv as per IT acr : 92 cr

applicable tax rate : 25%. Assuming no other timing diff other than depreciation

i am stuck in computation of closing deferred tax asset/liablity

my understanding is since co has claimed higher depreciation and paid less tax going forward tax liability is going to be higher so direct tax liablity shall be created

closing value of DTL = 8 cr * 25% =2 cr

2cr should appear in balance sheet after adjusting opening balance

is my understanding correct ??

Auditor mentioning on balance sheet 'as per our report'. few auditors mention 'as per my report:. what is the difference in this ? as per my knowledge if CA is practicing in firm name it will be our report & if he practicing in individual capacity & not applied for firm name then he is mentioning my report.

Is this correct?

Dear Experts

Kindly let me know what's the meaning of DELETION of Asset while preparing DEPRECIATION SCHEDULE as per Companies Act 2013

Also whether when the useful life of Asset gets over & Carrying value of such Asset will come under Deletion of Asset ?? or it can be taken to Reserves & Surplus

Thanks in Advance

a doctor have gross receipts Rs. 40 lakhs in current year, he want to fill return in 44ADA, but he have also F & O turnover Rs. 27 lakhs and profit Rs. 80 thousand.

can he file itr profession income u/s 44ADA and f & o income tax audit togeather.

Greetings Sir/mam,

Kindly let me know whether Staff welfare exps are covered under Negative List and reporting under Clause 44

Whether we need to report surrender of shares in form 29b,if yes where to report it.