In a Private limited company there are 4 shareholders including a partnership firm. And now the composition of partnership firm has been changed and a new partner has been included. My query is whether we have to fill a new share transfer form for inclusion of the new partner ? And what if the partner is the director of that pvt. ltd. i.e what will be the consequence? Pls advise asap.

Commission received from china company.
In this case einvoice is mandatory for debit note .

A general query:

We are following %tage completion method in case of Promoter-Builder activity.

It so happens that the TDS is deducted by Flat owners as per their own dates (we do advise them to pay TDS at the time if booking but then it may or may not be paid then) Now while offering Sales we are offering sale as per our completion irrespective of TDS deducted or not.

Example
1) In a given year we are offering 50% of total sale value of say 3 flats of 1 cr each say 1.5cr.
2) TDS deducted in a given year is of only one flat of 1cr and balance two flats have not deducted TDS.
3) Now turnover as per 26AS is 1cr and as per books is 1.5cr which is OK and the ITR will be processed.
4) Issue arises in next year when the turnover as per books will be 1.5Cr but as per 26AS will be 2cr when the balance two flats will deducted TDS.

Any practical way out in this because we will surely get defective return notice for next year as T/O as per 26AS greater than T/O as per books.

As per provision when a similar transaction falls between both sections 194Q and 206C(1H)....194Q Overrides.

My question is I was liable to deduct u/s 194Q however the seller has already deducted on the same amount under 206C(1H).

Accordingly,
1)Whether I am still liable to deduct under 194Q?
2)Is non deduction of TDS on purchase attract sec 40a(ia) ?
3) Treatment of TCS collected under 206C(1H).

Dear Sir,

One of my client is having a Partnership firm in which he has purchased Motor Vehicle in the year 2018. Now, in 2022 he wants to sell that motor vehicle.

The partnership firm is registered under GST.

My query is whether GST is applicable on sale of motor vehicle. Please help me in this matter.

Regards,
Divyesh Jain

Dear professionals,

As per the latest GST amendment rice packets below 25kg is attracts 5% GST.

My query is Nowonwards, the rice dealers can claim ITC for business purchases. For eg. Purchase of furniture, GST input on professional fee etc

Kindly clarify.

Thanks in advance

Can anyone please guide me regarding the journal entry for Interest on Loan during the Moratorium Period? As interest gets added to the principal outstanding amount, we can not claim it as an indirect expense under the profit and loss account. Then do we have to capitalise the interest amount as we need to balance the loan account as well?

Sir,
We have purchased 10 kva UPS for an amount of Rs.2,34,000/- vendor added installation charges extra. i.e, 4,000/- Total bill value 2,38,000/-
Is TDS applicable on only installation ? or total bill value ? and which section ?

Please help me

There is a Trust whose Corpus is around 1.42 Cr. how can trust use this Corpus fund for charitable activity in future years Like Capital Expenditure or Revenue Expenditure? is Charitable Trust require to take Permission from the Registrar of Trust or From Income Tax for utilisation of Corpus. what is the Procedure to utilise this Corpus fund for Capital Expenditure & Revenue Expenditure.
Please explain me in details

Regards

Thanks in Advance.

Kindly help on IGCR Application.-
We had applied for IGCR for a shipment from party with continuity bond and BG. But due to forex fluctuation the balance in bond will not suffice the differential duty.
Please guide on how to top up the existing bond. And share format if available.
Thank you.