Sir,

My employer (PSU) is deducting an amount (60 instalment started from this FY) towards excess House Rent Allowance (HRA) paid during the FY 2013-18 under head sundry deduction and not under HRA.

Sir, my question is, now how to treat this amount while filling income tax return.  It is pertinent to mention here that I have not take any benefit of HRA as I have my own house and tax was deducted during that period.



Please reply so that I can get income tax deduction for the amount deducted during this FY as my employer is not deducting this HRA recovery from my current year HRA.


I shall be highly thankful for you advise.

In a partnership firm there are three partners and there Ratio in firm are respectively,
A-50%
B-40% and
C-10
Net profit for the F.Y 2020-21 50,00,000 , i want to net profit transfer to partners capital account
is below entry passed are correct or wrong, Please reply.
Profit and Loss A/c Dr -50,00,000
To A Capital Account Rs. 25,00,000
To B Capital Account Rs, 20,00,000
To C Capital Account Rs 5,00,000

I have scored 74 in law paper and fail in tax and got 55 marks in both financial accounting and cost accounting.... Which subject I wl get exempted

Dear Sir,

If a person is registered under GST and his Sales is under exempt category under RCM, is he liable to file GSTR-9.

What is the maximum late fee applicable, if his turnover is Rs. 3 crores in F.Y. 2018-19 and F.Y. 2019-20.

Please help me in this matter.

Regards,
Divyesh Jain

In partnership firm there are three partners and theirs profit sharing ratio are
A-50%
B-40%
C-10%
and
TDS Receivable for FY 2020-21 Rs 40,00,000
TCS Receivable For FY 2020-21 Rs. 10,00,000
Advance tax Paid For FY 2020-21 Rs, 20,00,000
Total Rs. 70,00.000
Now my question is that i can pass journal entry on dated 31.03.2021
as bellows
A capital Account Dr-35,00,000
B Capital Account Dr-28,00,000
C Capital Account Dr.-7,00,000
TO TDS Receivable Rs. 40,00,000
To TCS Receivable Rs,.-10,00,000
To Advance Tax -20,00,00
are journal entry passed are true or false.
Please reply

We are doing export under advance license without payment of IGST. Our product produce 10-15 item in which 40% items are import under advance license without payment of IGST.
Can we gate file GSTR01A IGST refund export under advance license without payment of IGST.

Please suggest

My brother works in one of the US MNCs in India. He holds some US stocks given by the organization he works as part of his CTC. He has earned some money from dividents on these stocks. He wants to transfer ten thousand USD this year as a gift to my US bank or trade account in US so that i can start investing in US Stocks. Both of us are residents and citizens of india staying in bangalore.

1. Now do i need to pay any tax in india as it is a gift from him. (even though the transactions are in USA).
2. is it legal to transfer money to him in india while he transfers equivalent money in USA

Thanks in advance for your help

I have observed an demand unattended for AY 2010-11, demand was due as TDS has nor been considered in 143(1), wrongly by I.T. Department. Further most likely my consultant has not paid due attention to 143(1), and not filed Rectification U/s154. Now time limit for 154 is 4 yrs and my case is more than 10 yrs old. I have in my possession 26 AS showing TDS which has not been considered by department. Presently Income tax site not showing AY 2010-11 in "View Filed Return".
What should I do to rectify mismatch and avoid penalty and interest.
Your suggestion is solicited.

Dear Sir/Madam

1. Service Provider - Registered person (gives GTA services)
2. Service Receiver - Registered person (receives GTA services)

Question:
1. In this transaction who is liable for GST ?
2. Whether this transaction exempted by virtue of Notification No. 12/2017- Central Tax (Rate), dated 28th June, 2017 ?

Please provide us the valuation opinion

Thank in Advance.

While uploading MGT-7A form I made a error , Paidup capital of my company is 200000 but unfortunately in form MGT-7A I interned 2000000
So after filling MGT-7A my company's Paidup capital is showing as 2000000

Please guide me to correct it.