I AM REGISTERED IN GST AS PROPRIETORSHIP BUSINESS
TDS has been deducted under Section 194R and reflected in Form 26AS. Where should this amount be shown in the Income Tax Return (ITR)?

Which income head (e.g., Business/Profession, Other Sources) should this amount be reported under?

GST Liability on Amount for which TDS is Deducted under Section 194R?

here is the case scenario

f&o transactions
sale qty 15 cr, profit is 4 lakhs & loss is 10 lakhs
absolute figure is 14 lakhs but actual loss is 6 lakhs.

turnover would be 14 lakhs and let loss would be 6 lakhs then balance figure of 8 lakhs is not matching as per profit of 4 lakhs or loss of 10 lakhs

1. tax audit or itr?
2. if ITR (presumptive) - 6% profit need to show however actual loss is 6 lakhs, means need to do tax audit ?
3. if tax audit as per point 2. turnover would be 14 lakhs as per tax audit guidelines issued by icai but actual loss is 6 lakhs how to reconcile?

My 2 pov:
(1) For the profit and loss account, show the Rs. 14 lakhs as turnover (revenue figure) and then record Rs. 10 lakhs as losses and Rs. 4 lakhs as profits, resulting in net Rs. 6 lakhs loss, but that does not match totalling of credit and debit balance
(2) Sale - 15 cr and purchase - 15.06 cr resulting into 6 lakhs loss

Any suggestions?

there is any clause in tax audit report to report current year loss brought forward to next year?

CAN WE FILE REVISE FORM 3CA-3CD FORM FOR AY 2019-20 NOW??

How to respond to section 274A read with 270A

Sir
Income tax on withdrawal of PF after 20 years of services, on which portion income tax has to pay.
please clarify the doubt sir.
Thanking you
Srinivasa Joshi

IF AN EMPLOYEE WHO HAVE AN INOPERATIVE PAN THAN HIGHER RATE TDS DEDUCTION? HOW TO COMPUTE TAXABLE SALARY? (IE. AFTER CONSIDERING STANDARD DEDUCTION + 87 REBATE ) CAN I GIVE SLAB RATE BENEFIT TO THAT EMPLOYEE?

bill of 40000 received from x enterprises for painting services


bill of 40000 received from x enterprises for painting services


rs 20000 was paid by debiting expenses and crediting bank .


bill was not accounted nor was TDS deducted


now after 2 years the remaining amount is to be paid


whether tds is to be deducted ?

what are the entries to be passed ?

Dear Sir,

I want ot know for the calculation of Capital Gain we can take sales consideration 10% less govt guideline value as sales consideration or any other mode to take in calculating gain. Please guide.

IS PARTNER IS ALLOWED TO MAKE TRANSACTION IN CASH WITH FIRM IN WHICH THEY ARE PARTNER?