Under clause 44 one bill has two components Taxable supply and Non-taxable supply then Non-taxable value where to report under Exempt supply or other inward supply .

1. Exchange service bill of 100 but under GST taxable value is only 30 then 70 rupees supply how to report Exempt or other inward service .
2. One bill has reimbursement of expenses on which GST is not applicable then how to report reimbursement of expenses under exempt supply or Non-taxable supply under clause 44

Please Provide a sample copy format of Provident Fund Audit Report

ONE OF MY TRUST CLIENT INCOME BELOW 5 CR THEN FILLED 10BB DUE COURSE,THEN AFTER RS. 20LAKH INCOME NOT TAKEN AT THAT TIME NOW CONSIDER THAT INCOME SO MY TRUST INCOME IS MORE THAN 5 CR,CAN I FILLED NEW FORM 10B AND UPDATED TRUST RETURN

can anyone please say what are the errors we can face in physical verification of work in progress (wip) and how to slove that

Ours is pvt ltd co. we have formed separate group gratuity trust and it was approved by Income tax department.
The Gratuity Trust has invested the money with LIC Group Gratuity Scheme.

1. We are making provision for Gratuity liability as actuarial report (as per INDAS) in the books of company and shown on liability side under provision.
2. Whatever amount we pay to LIC is shown under assets side as Gratuity Fund with LIC and every year what ever we pay is getting added in the balance and claim deduction for what ever amount is paid to LIC.

Just now we are passing only 2 entries in the company's books
1 - Provision of Gratuity as per actuarial Report
Gratuity a/c Dr. (profit & loss)
To Provision for Gratuity (Liability Side)

2 - For amount paid to LIC for Group gratuity scheme.
Gratuity Fund (LIC) Dr. (Assets side)
To Bank Account

my question
3. Whatever Interest we received from LIC is shown as income in gratuity Trust. & Trust is having separate PAN No. and we also file Trust Income Tax Return. - so shall we also show that Interest income in Company's profit & Loss account ? if yes how -i.e. what entry should be passed -say interest shown as income in p&l but dr. to what ?

4. when ever employee left the job and having completed 5 years - LIC pay Gratuity Directly to Group Gratuity Trust account and from trust account it is directly paid to employees.

Do we also have to show Gratuity paid to employees in company's books of account if yes what will be the entry ? i.e. which account will be debited and which account will be credited ?

highly appreciate if some one help to solve our query.
Thanks in Advance.

Sir, Can you please tell me what is the treatment of profit on sale of fixed asset in income tax as well as in the books of a company?
Is this included on deferred tax calculation?
Please help me on this.

When calculating CSR expenditure under Section 198, should the government grant received for capital expenditure be treated as part of the profit? If so, is it the entire amount received during the year, or should it be based on the amortization amount reflected in the statement of profit and loss for the year?

Hi,

Company's return is filed within due date with the 80JJAA audit report but CA accept the audit report next day after the return filing, and later on CPC sent email for proposed adjustment and disallow the whole benefit of 80JJAA. Can we do anything here?

One of my client is carrying on trading business, he uses his friend's bank current account for deposit of his sales collection and also for suppliers payments.
Please advice the legal consequences on Income Tax point and also advice on the necessary audit qualification on the same.

Thanks in Advance

I was performing an audit in which i noticed that the company has given amounts to employees for sister marriage and for funeral of father or any other family member of the employee eg;-rs5000 for sister marriage of employee X . the company has debited the Donation A/C , should the expenses should be considered under staff welfare expenses?