Dear Sir,
I have Query regarding Gift paid by Mother -in- low (Age 80) paid to her daughter-in-law of a Jewellery of Rs.100000/- . Both are running a Proprietor Business. How to Give Treatment in both books of account ...Is this Un Secured Loan or What...

How to show speculative Intraday Shares trading profit and Loss in ITR-3 of Account maintain case. Please specify particular column in ITR-3 as Account maintain case.

Whether the bank is required to register itself under Shops & Establishment Act?

We have laredy OD Ac in A Bank now from last two month we have opened Escrow AC in A bank also. Now A bank send a letter to closed Escrow AC which already in A bank.
Bank refer RBI guideline. My query any such guidling from RBI

L D Dharmadhikari

Whether the chit commission received from business of chits can be offered at 8% profit?

Please give your best suggestions for ITC Reversal or Increase. We showed debit note in GSTR-1 last year and did not deduct ITC from purchase,But we have just made the amount zero by amending the debit note in the September return.Last year, which we had paid wrong GST through debitnote, which we had to adjust from the purchase, now how do we adjust for September 2021 GSTR3B now. 'Integrated ITC

Dear Sir / Madam,

Mr X is doing F&O trading since last 3 years. In first 2 years, turnover was less, though there was a loss in each year, he preferred to report on presumptive basis i.e. profit @6% of turnover.

However, in previous FY 2020-21, he over-traded in F&O segment and turnover increased enormously, also incurred losses and 6% of it looks more. So he doesnt want to report u/s44AD.

So, as per IT act, he is shifting from Presumptive taxation reporting to normal reporting, tax audit would be applicable.

I wish to know:
1) What kind of precautions to be taken in this type of tax audit i.e. arising out of change of reporting??

2) So if the tax audit is done for FY 2020-21, then what would be the position for FY 2021-22? Does he require to do tax audit for FY 2021-22 also??

Kindly guide me.

Regards,
Suraj

Sir,
A person cash deposit in bank savings account mentioned below view as per 26as
1.cash deposit in bank rs:12 lacs
2.cash deposit in bank rs:11 lacs
Question:
Assess cash deposit amount transaction source without evidence treatment rs:23 lacs in it act

LLP is registered under Government of India-Ministry for commerce and industry-Department for Promotion of Industry and Internal Trade
Certificate states that Start up is working in 'Human Resources' Industry and 'Recruitment Jobs' sector as self-certified by them.

My question is whether income tax benefits u/s 80IAC and 56(2)(viib) will be available to the start up and whether to avail the benefits any form needs to be submitted to Assessing Officer ?

If we are running a restaurant bussiness and we are also delivering food via zomato & swiggy then zomato and swiggy cut their commission with axes and send us money on weekly basis after deducting tds and tcs. For their commission they gave us a service fee invoice.
So the question is
Why they cut tds and tcs ?
Bcz we are not giving them in any service and invoice