In case of loss in business, Loss is Rs.6 lakhs ,sale turnover is Rs .20 lakhs only, but Audit is compulsory as per section 44AD due to loss in business,

client is having other income as pension income Rs.193000 and interest income 40000, tds deducted on int.

client is closing the business and does not want to claim the benefit of loss in next year , still is he liable to get the books of accounts audited ?


kindly advise

i have completed my O.T. training from Gwalior Branch of CIRC and my O.T. certificate is lost.So can you guys tell me the whole procedure for issuance of duplicate certificate.

The land owner and developer signed the joint development agreement according to which the land owner would give the development right to the developer to develop the plot (only road, fencing, temple, garden is constructed and no construction is done on the plot). The owner and the developer would share 60:40 of the total sales consideration received from the sale of plot. Whether any service tax is applicable on sale of developed / developing plot sale? Also whether service tax is applicable on the service provided by the developers to unincorporated JV.?

Hotel Business Gross Income 4.50 Lac can File ITR 4S

Dear Sir / Madam,

An individual invests in a fixed deposit for a period of 5 yrs. to avail tax exemption u/s 80C. In the same year of investment he takes a loan on Fixed deposit to pay unanticipated expenditure. I'm aware of the interest on fixed deposit attracts TDS.

I'd like to know whether the individual still eligible for the 80 C deduction on the year of investment

invoice raised for expenditure for repair of machinery, which will give benefit for 2-3 years. so, the same exp capitalized. do we have to deduct tds?

I HAVE PAYMENT TO NON RESIDENT CHARTERED ACCOUNTANT CO. FOR PROFESSIONAL FEES. I AM INDIVIDUAL WITHOUT HOLDING TAN.

THE CA FIRM ALSO DOES NOT HOLDER P.E. AND PAN IN INDIA.

HAVE TDS LIABILITY INCURRED IN THIS PAYMENT OR IF LIABLE, AT WHAT RATE.

I was using Tally-7, but now i want to divert in Tally-9.2, but some features are new for me, such as while entering Payment or Receipt vouchers, a menu arises of cost allocations for & cost category. How to avoid this menu ? As i have no use of this in personal account.

My society has been taken over by a builder for redevelopment.As compensation the builder agreed to pay the members an amount as compensation for the hardships. I received two installments as per the agreement with the builder last financial year. Is this taxabale? I am an NRI Should capital gains be paid on this amount? I am told by most of the society members that it is not taxable. Could you please confirm. The builder also has agreed to give us an appartment in the new buidling with more built up area.

Many thanks

I have a export order on LC terms. The LC contract says: The minimum weight of the product should be 18000KG Certificate of Weight and Quality by SGS is req. The weight mentioned on Invoice says it is 18100Kg and is billed according to 18100KG. The weight certificate given by SGS mentions the weight as 18000Kg. So there will be difference between weight of SGS and weight of Invoice. Will it be a discrepancy for LC terms in bank