One partnership firm is having only income from commision can it show less than 6% profit
Without audit ?
Books of accounts are maintained
Turnover 5 lac

sir my foreign principle gives quote in US $ on ex-works basis. my question is that Can an Indian company submit quotation in USD for an Indian company of a foreign product? also can we raise invoice in USD of foreign product by indian company to indian customer.

Dear sirs/ madam
Kindly advise, we are in TDS bracket , purchase made before applicability of TDS ( ie before 01-07-21 some of March 40 lakh & April May 55lakh + ) As per payment terms we are paying now to the Vendor .

Whether TDs would be applicable on payment made? Or no TDS as purchase are prior date .

Kindly brief

Sir/Madam
If company has shifted to new place and incurred expenses on wiring related to computer networks like server installation, wiring etc. then it will cover under which Asset head????????????

Sir I had filed my itr-4 on 31/07/21 under 44ada for ay 2021-22 with e verified on same day.Sms came for filing but no mail.On 23/08/21 a sms came from TM-ITDCPC as"your itr for ay 2021-22 & pan ak****a has been processed at cpc.Intimation 143(1) has been sent to registered mail id.If not received check in spam folder".But sir no mail received till now.On 26/08/21 on calling to customer care they told to wait till 31/08/21and lodge a grievance.But till today portal showing as under processing,no intimation came or showing in portal.What to do sir now?I have to wait or again to submit grievance.Thanks in advance sir.🙏🙏🙏🙏.

Respected Sir,

We are holding two GST Numbers. One is for Maharashtra and the other is for Andhra Pradesh. We are basically exporters and buying finished goods on our Maharashtra GST Number and the same is being exported right on our Maharashtra GST Number. Due to unavailability of the container we had to ship the consignment from Andhra Pradesh Port and inadvertently GST number of Andhra Pradesh has been put on shipping bill.

It is an issue of concessional rate of GST @ 0.10% and since the purchase bill has been drawn on Maharashtra GST Number and the related export bill has been drawn on Andhra Pradesh GST Number. The supplier is asking us the shipping bill having Maharashtra GST Number in order to avail the concessional rate of GST @ 0.10% failing which the supplier will not get the concessional rate of GST @ 0.10%.

Please guide me and oblige.

Assessee has short term capital gain from sale of Debt Oriented Liquid fund
He also has long term capital loss on sale of Equity Oriented fund
Can the short term capital gain from sale of Debt Oriented Liquid fund be set off against long term capital loss on sale of Equity Oriented fund

Dear Sir ,
An employer has gifted Rolex watch to employee and shown it as perquisite U/s 17(2). Employer has also paid the applicable tax on it and same is reflated as TDS in form 16 (Perquisite vale grossed up for tax purpose). Watch Invoice/warranty card is in Employee's Name. Employee want to sale the watch. Now the que. is whether capital gain will apply on that or it watch is treated as personal in nature & not the Capital Asset. Kindly advice.
If possible please share the case law
Thanks

ABD (Proprietorship Firm) received Land as a gift Value Rs. 50 lakh &Reg Fess Rs. 60,000/- from mother .

Please suggest : Following Journal Entries is Correct or Not. If No, Please Reply with Correct entry

1. Land (Fixed Assets) -- A/C Dr. 50lakh
to Capital A/C Cr. 50lakh.

IN BALANCE SHEET:
ADD 50LAKH TO CAPITAL A/C IN LIABILITY SIDE AND ASSETS SIDE : 50LAKH SHOW SEPARATELY.

2. Registration fees will be added to Value Of Land or Not ?
plz reply as early as possible

THanking You
Bikash Rai

Please make me understand the below query;

As mentioned in my previous query, we are providing payroll services to our client who is Distributor of Electrical goods.

Since from the commencement of this payroll services employees are not registered under ESI & PF act (for the employees to whom we are processing payroll)

My question is who will be held responsible for this compliance issue, principal employer or Vendor?