Respected Sir,

How much GP and NP Show in PL account means Can we increase 1 to 2% from last year means how much increase from Last year if Turnover increase Rs.40 to 50 Lacs Previous year GP and NP 7.21 & 2.23 Current year 8.25 & 3.23 is Justifiable please suggest we are confused (about book cover audit )

Respected Sir / Madam

May I know maximum which amount of deductions are available under National Pension Scheme.

1) 80 CCD (1B) Maximum Rs. 50000=00 is allowed
2) u/s 80CCB also any deduction allowed other than 80 CCD (1B) ?

or including both total Rs.50000=00

Please guide.

Sir,

Please tell us Received advance from Debtors is Other non-current assets OR Other current assets and Paid advance to Supplier is Other current liabilities Or Other Non long-term liabilities

Mr A purchased the house property in FY 2022-23. The property was occupied earlier by other owner.
Mr A is eligible for exemption under section 54F for the investment in this house property.

Other than the cost of acquisition, he also spent Rs 10,00,000 as follows (after purchase but before residing in the property) –
1) Rs 7,00,000 on Reconstruction and Remodelling of Kitchen – For this purpose the kitchen was completely taken apart and then remodelled.
2) Rs 3,00,000 on construction of new room.
Can Mr A add Rs 10,00,000 spent as above to the cost of acquisition or cost of improvement and claim 54F on this amount as well.

Mr. A (non-resident) is tour operator who had setup his business in UAE. Mr. B (resident) is making a foreign remittance of Rs. 3,00,000 to Mr. A for providing tours and travels services in UAE. Whether TDS u/s 195 is to be deducted while making payment or TCS needs to be collected by Mr. A being sale of overseas tour package.

what is surrender letter format for closure of professional tax

Hello
as per the press release, foreign national and NRI not having a bank account can give their foreign bank account details to claim refund. One of my relative, who is foreign national filed income tax return for Income earned through Astrotalk an online site. Refund is due and processed. However, refund is not credited due to non validation of bank account over income tax site with valid pan. Being foreign national, he dont have bank account in India. Raised a grivience but no use. It answered the same, no validated bank account. How a foreign national can validate his account if he dont have in India. All valid details of foreign bank has been given in ITR. Can anyone provide solution as to how to claim refund

dear Sir

Please provide business code of income from repair of Electrical Goods

Can cross gifts are taxable under Income Tax Act ? For Example: Mr.A received an gift in the form of cash/Kind amounts to Rs. 10 lakhs from Mr.B and Mr.B returned the an amount of Rs.8 lakhs to Mr.A. Both A & B are relatives. In this scenario, can cross gifts are Taxable ?

Thanks in advance.

Dear Sir

A and B both are working in Same roof. Both have separated PAN and GST Number. Mr.A raised a invoice to XYZ Rs.50000/- XYZ deposit Rs.25000/- to MR.A and by Mistake RS.25000/- to MR.B account. Now in the books of accounts Mr.A, XYZ balance debit Show Rs.25000/- and books of account of Mr.B xYZ credit balance show Rs.25000/- and in the books of account of XYZ balance is NIL
Please suggest how to deal A and B ( MR. A is books of accounts cover 44AB and Mr.B 44AB(e)