Nisha Kathuria online
This Query has 4 replies

This Query has 4 replies

Dear Sir,

Some goods break on the way and its Value Rs.19400/- supplier credit Rs.19400/- to our account but no GST and no show same in GSTR-1 even no document send to us.Breakage Goods available in our store supplier have not pick up till date so in this case i have to reduce my purchase. Please suggest below entry in books of account is correct or wrong
Dr. ABC Supplier Rs.19400/-
Cr. Purchase account Rs.19400/- ( entry pass through Journal entry)


sachin Alwadhi
This Query has 1 replies

This Query has 1 replies

Kindly guide one of client turnover above 5cr(covered under tax audit) and dealing in service business and all the payment received in online mode means no cash transaction involved whether it is compulsory to file sft 61a or not?
in second case client turnover less than 2cr(but need to file audit report on voluntary basis and all the payment received in online mode means no cash transaction involved whether it is compulsory to file sft 61a or not?


Gaurav Sinha Roy online
This Query has 3 replies

This Query has 3 replies

My mother had received an advance money of around Rs 15,50,000/- from promoter against agreement for sale of her ancestral property by the end of March 2023 and then from it she also had paid a sum of Rs 5,00,000/- as advance against purchase of residential flat. Both the transactions took place in March 2023 i.e. FY 2022-23 & AY 2023-24. While paying Rs 15,50,000/- the promoter deducted TDS u/s 194 IA @ 1% of Rs 15,500. But the actual sale & purchase of flat took place in April 2023 and the remaining consideration received and paid also in April 2023 i.e. FY 2023-24 & AY 2024-25. The remaining consideration received is Rs 30,00,000/- for sale and paid for purchase of the flat is Rs 8,50,000/- in April 2023.
So even though my mother received only Rs 15,50,000/- as advance against sale in FY 20222-23 AY 2023-24 and out of which also paid a sum of Rs 5,00,000/- as advance against purchase of residential flat, how to show them in filing Return of Income for AY 2023-24?
The total value of consideration received is Rs 45,50,000/- for sale and consideration paid in total is Rs 13,50,000/-

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kollipara sundaraiah online
This Query has 1 replies

This Query has 1 replies

Sir,
It assessess rs:2000/- notes cash deposit in bank sb account rs:10 lacs.
Question:
Assessess sec 68 and sec 115 bbe both provision applicable in it act


Jagadeesh Pilla
This Query has 3 replies

This Query has 3 replies

27 May 2023 at 22:51

Tax related to Company/LLP

I want to understand Taxation for company. Let say I started an IT service company (LLP) with initial investment (capital) of 1,00,000 Rupees. I got a service contract for 1,00,000. I paid 50,000 in Salaries and used another 50,000 to buy Laptop for the employees, so 0 money left in company account, then at the end of Financial year how am I suppose to pay tax 30% as no money left in account and Laptop is considered as Asset and not Expense and Capital should not be touched?


Patel
This Query has 1 replies

This Query has 1 replies

27 May 2023 at 17:50

ITR-3 of AY 23-24

Sir,
When I filled ITR-3 of ay-23-24 by excell utility, when calculate button press allert message show i.e DPM45:CAPITAL GAIN/LOSS UNDER SECTION CANNOT BLANCK what is meaning of it. when I have none done any property trade nor any depriciation. please help me.


binu sukumaran
This Query has 1 replies

This Query has 1 replies

sir.
For business promotion company purchase uniform and given to clients for abroad job purposes .
This amount comes around 1.75 lakhs. purchase this IGST bill
is this affected effect TDS.


Nisha Kathuria online
This Query has 3 replies

This Query has 3 replies

27 May 2023 at 13:04

Raw Material Sale

Dear Sir,

We have Purchase some raw material for Finished Goods but due to shortage of some other material we cannot convert to finished goods. So can we sale raw material as its any complication by IT or GST department please advise


Sanjay Sharma
This Query has 3 replies

This Query has 3 replies

27 May 2023 at 12:45

TDS on Credit Note & Debit Note

Dear Experts, I have a query related to TDS, we have raised tax invoice for services to the party for Rs. 1,00,000/- (GST), Party issued a Debit Note of Rs. 40,000/- + (GST) against the above Tax Invoice as well as we had also issued Credit Note for the same. Party paid a sum of Rs. 60,800/- to us after deducting TDS @ 10% on Rs. 1,00,000/-. Now party said that we have to deduct TDS on Credit Note i,e. on Rs. 40,000/-.
Should we liable to deduct TDS on the Credit Note issued by us or Debit Note issued by the party?
Thanks in advance


Saravanan
This Query has 1 replies

This Query has 1 replies

Recently (from 25-03-2023) E-Filing site showing Restricted Refund for some people and for some Bank accounts. For State bank of India shows as Eligible For refund and for again it showing as Restricted Refund. I checked with bank and it is not Inoperative account. Regular Transaction is there. No KYC problem and account is also validated & EVC enabled. Can anybody guide me regarding this issue.

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