Dear Sir,

There are 2 Balance sheet options in ITR 6 Form that is the normal Balance sheet and IAS Balance sheet.

I want to know who is applicable to fill IAS Balance sheet.

Please help me in this matter.

Regards,
Divyesh Jain

Sir,
Audit file hospital running person expenses details mentioned below
Electricity, telephone, professional tax,pf, ESI, building insurance paid
Medicines purchase, surgical samans, oxyzen expenses, traveling,sadar expenses, computer maintenance, repairs,phynol, cleaning charges, interest pay,rents paid.
Salaries, depreciation,bonus expenses
Question:
Assessess above mentioned expenses which column no.show in 44 clase sheet.

Pvt Ltd., Company invested Rs. 50 lakhs in LLP in 2010. Later every year Pvt ltd Company has lent Rs. 10 lakhs to LLP until 2020-21, a total amount of Rs. 120 lakhs lent as an unsecured loan to LLP. Now Pvt Co. wants to exit from LLP at a total settlement of Rs. 70 lakhs. How to calculate capital gains in the hands of Pvt ltd Company. If we opt for indexation we can calculate up to AY 2018-19 afterward we cant do indexation.

Sir, we have availed service of the clearing forwarding agent (CFA). CFA has made payments to various transportation agencies, line agencies and storage agencies and gave us reimbursement notes along with his separate bill of service. My question is whether we should deduct the TDS of the agencies whose expenses are paid by CFA and he gave us reimbursement notes.

We are HUF created in 1982 .We are assessed till A.Y.2021-22 and received assessment order upto A.Y.2021-22 from IT .The funds of Huf was distributed among family members in march2021 .Now we want to surrender PAN before ITO. What is the procedure for this.

Dear Sir,
We have a portfolio account(PMS) with a brokerage firm.
They are charging in our account as Management Fees and Fund Accountant Fees on monthly basis. My query is that the TDS applicable on Management Fees or not?. Brokerage firm had earlier informed me that TDS is not applicable on management fee. The brokerage firm informed that TDS is being paid from our account team instead of the final investor. But now our auditor says that we should deduct TDS on management fees.
Please advise me in this regard.

Thanks & regards
N K

My Query is that whether any Taxpayer who has earned Long Term Capital Gain / Long Term Capital Loss from the sale of a immovable property can pay tax without taking the benefit of indexation on the purchase value of the property.

In which coloum the registration details of 80G are to be filled in ITR-7 ?

XYZ Co-op Housing Society
Income:
Collection from Members = 20,00,000
Bank Interest on FD from Co-op Bank = 5,00,000
Misc Income = 1,00,000
Total = 26,00,000

Expenses:
Repairs & Maintenance of Society = 28,50,000

Deficit = 2,50,000
While filing Income Tax Return:
A)
PGBP = 20,00,000-28,50,000 = -8,50,000
IFOS = 5,00,000 + 1,00,000 = 6,00,000
GTI = Nil
Carry forward of loss = 2,50,000

B)
PGBP = -8,50,000
Less : Exempt Loss = 8,50,000 (Concept of Mutuality)
Net PGBP = Nil
IFOS = 5,00,000 + 1,00,000 = 6,00,000
Gross Total Income = 6,00,000
Dedn U/C VIA (80P) = 5,00,000
Total Income = 1,00,000
Which computation is correct A or B ?

While calculating allowable remmuneration to partner .. the condition is certain percentage of book priofit and not taxable profit.
Still expenses debited to p& l eg. Interest on tds,donation which is disallowed is to be added back.for calculating book profit for remmuneration to partner