1) Is Statement of Comprehensive Income also an Account like P&L Account found in the General ledger which is debited or credited by means of closing/transfer Journal Entries for preparation of Annual statement of Accounts. I realise that P & L shown shown to the world ouside is the replica of the Ledger Account of the business Entity for all practical purposes. To elaborate, I wish to say as under.

1) P &L Account is debited and expense accounts are credited; income accounts are debited and P & L Account is credited in order to close the Income and expense accounts in the normal course, by means of a closing Journal entry, as a year end exercise. These are normally called Temporary Acounts. Permanent Accounts are not closed as they are carried forward year after year for being shown in the Balance sheet. For Example, Different type of Reserves, credit balance of P & L Account, Share Premium account.etc.
What JE is passed to close OCI Account? How AOCI account is reflected in balance sheet?
Is it the closing balan ce of AOCI Account that is shown in Balance sheet or different accounts entering the AOCI Accounts?

Dear Experts,
My goods was detained in transit and penalty was raised. I paid the penalty and released order has been issue. On GST portal the status of order is shown as MOV-5 (Released Order) issued.
My query is, what to do to close the proceeding as I have paid the penalty. Is there anything due from my end to reply or upload? Please suggest.

Can a tenant submit Form 60 in order to claim HRA exemption in case their landlord does not have a PAN card and is ready to fill form 60? Landlord does not have taxable income more than exemption limit. Do offices accept Form 60 as proof for income tax declaration and Form 16?

Hi All,

We are planning to donate the sum of the amount for the plantation of trees, our organization doesn't qualify for CRS applicability as per CRS limits specified in the law.

I just wanted to know what is financially beneficial for us, donating a sum of the amount for the plantation of trees and claiming its deduction U/s 80G, or should we go for CRS expenses?

Also, can we avail of the deduction for 80G by donating to NGO for the plantation or not?

I want to know that in clause 20(b) of form 3CD of tax audit report employees contribution is needs to be declared but in column "The actual amount paid" what amount would be disclosed

1. Total contribution amount including employer contribution i.e Challan Amount.
2. Amount in respect of employees contribution

Sirs,

Any checklist available for the mergers after the approval of resolution plan in NCLT (under IBC). What all provisions to be followed as per companies act and what all forms to be filed.

Kindly give some inputs. Thank you

Hello Experts,
There are two existing Foreign companies A & B in Koea, both are merged in Korea and now now only Company B remained. But company "A" has business and PAN in India and company "B" does not. Now query is :-
1) Shall we apply name correction of company "A" PAN and put company "B" name on it
2) Shall we surrender company "A" PAN and apply new PAN for "B"
3) Any other related to this.

HELLO SIR,

IN CASE OF CIVIL CONTRACTOR SUPPLY OF LABOUR SERVICE IT MAY REQUIRED TO GET GST REGISTRATION
IF MY ANNUAL GROSS RECEIPT LESS THAN 20 LAKHS.
IT IS OK IF I AM ISSUED TO CUSTOMER RAISED INVOICE WITHOUT GST.

KINDLY ADVICED.

DEAR SIR,

HOW TO INVOICE FREE ITEMS WHEN ONE IS REGISTERED DEALER? DOES IT ATTRACT 194R IF WE MAKE INVOICE?


BEST REGARDS,

Respected Sir/Madam
Please Guide Can Loss of non-Speculative Business be set off against Long Term Capital Gain Income in FY 2022-23.

Please guide
Thanks in Advance