Mr.A rendering professional service. He does not want to show income in his books received from particular client and he requested the client not to deduct tax at source.!
No doubt clients expenditure will be disallowed for non deduction. but Mr.A is a monopolistic service provider. The client does not have any other option before Mr.A
What the client has to do in these circumstances ?
1.Company Incurred Loss During the year 0.50 Lac
2. Brought Forward Loss Rs.15.00 Lacs
3. Depreciation Not Charged by the company
4. Company sales its factory premises of Rs.48.00 Lacs there is no assets block after sale proceeds
5. Regular files in time return
6. Cost price of factory premises Rs.25.00 Lacs
7. Book Value of Factory Premises Rs.12.00 lacs
can capital gain set off against B.F Business Loss
and how can be minimize the tax liability?
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