A trust registered u/s 10(23C) running educational institution has given Interest Free Unsecured Loan to its trustees.
Is the auditor required to report the same in Form 10BB?
Please also guide about tax implication of this Interest Free Unsecured Loan.
We have submitted tax audit report on 25.10.2019. that time we were generated UDIN but not updated on Income tax portal. bcz that time UDIN Updation option was not available. so now it is required to be update in IT Website for audit report filed on 25.10.2019?Answer now
Ours was a partnership firm dealing in PWD contract and converted into Pvt ltd co in July 2019. We have transferred all assets and liabilities as on date of conversion to new co. Since our customers are government and even though we had informed them about conversion, we had to issue invoice in the name of old firm upto February 2020. This was reflected in 26AS and GST TDS, GST returns etc. And booked some expenses also Is it legally correct? Whether we need to transfer it to new Co?? Also, whether balance sheet as on 31.03.2020 need to be NIL?? Bcoz whether TDS etc to be shown in BS?
Kindly suggest the taxability of ULIP SURRENDER VALUE AFTER LOCK IN PERIOD OF 5 YEARS.
One time premium paid of Rs.150000/- on 24.10.2013
Surrender value after lock in period of 5 years is Rs.177000/- on 19.02.2019
What is the taxable amount?
IN GSTR-9 TABLE NO 9 HAVE LATE FEES AND INTEREST. WHEN GSTR-9C IS FILING THE TABLE NO 9Q IS ONLY TAKEN THE FIGURE OF TABLE 9A , 9B, 9C OF GSTR-9 AUTOMATICALLY. WHEN I PUT THE FIGURE OF LATE FEES AND INTEREST IN GSTR-9C IT SHOWS UNRECONCILE.
SO WHAT IS THE CORRECT PROCEDURE TO FILL THE TABLE 9 OF GSTR-9C , IS WE HAVE TO PUT THE FIGURE OF LATE FEES AND INTEREST IN TABLE 9L AND 9M OF GSTR-9C FROM GSTR-9 OR NOT.
PLEASE HELP ME.
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