Mr. A is a CA holding certificate of practice, is also holds directorship (by virtue of being a minority shareholder) in a private company (Company X). He appoints his junior Mr. B, who has passed CA and holding a separate certificate of practice, as an auditor in the Company of holding directorship. All the finalization of books, closing entries, preparation of financial statements has been made by Mr. A and Mr. B puts his seal and signature on the Financial statement without verifying the authenticity of the financial statement and without the approval of the board. The other Board member of X company not informed of the signed financial statements and later efforts are made to convince the signed financial statements. There are many irregularities that have been observed in the preparation of financial statements like lack of carrying out inter-company reconciliations, failure to get the bank confirmations, adjustment is made to related party books with the approval of the board, etc.
Now, the Majority shareholder wants to have a legal remedy for the above problem. Whether the above members (A & B) can be punished for the above wrongdoing.

Our assessee is having income from House property and income from other source, He has a habit of preparing balance sheet and capital account at the end of the year at the year ending 31 March 2016 he had shown a Cash in hand in his books of account at Rs 13.5 lacs which he deposited in bank account during demonitization period.AO made addition U/s 69A as regarding Cash as Manipulated. I want to ask

1. Is assesseee having income from house property and other source required to maintain books of accounts as contemplated U/s 69A .
2. Can AO consider the cash in hand in balance sheet as manipulated.
Kindly quote any case law if possible.

A dealer sbi personal netbanking used gst tax some amount challan paid.but challan amount bank account debited challan amount not show in Cash ledger in gst portal(pending message)
Question:
Dealer how to rectify challan problem

My father (85 years old ) has sold land in 2021 which was acquired in 2003. He has three children. He is not interested in investing in any property in his own name. He wants to give sale proceeds to children equally. If children invests same in construction of their own house/buy a flat or land in their own name as per timelines, will this be allowed under capital gain tax. Kindly clarify.
If above is not possible, what is best way of investing sale proceeds. Kindly suggest.
Thanks

Sir,
Dealer maintained a private hospital include sales of medicines(medical store)
Dealer itc credit claim (medicines purchases ) on in patients sales turnover or out patient turnover or total hospital collection turnover gst out put itc applicable in gst act.

I have one client who got some of mony from her brother for relinquish of rights (by virtue of registered relinquish of rights deed) in ansestral property that is agricultural land situated in municipal jurisdiction. Now assessing officer is adding this amount for capital gain. Will it be attract capital gain.please suggest me. And is there any case law for the same

One of our supplier while filling of GSTR-1 return his uploaded 2 months bills one month bills missed out in filing of quarterly return,but payment made and declared liability in GSTR-3B return, in this regards he can upload current month GSTR-1 returns. Transaction related to FY 2017-18.

Please advise regarding this issue now GST audit team asking interest and penalty on irregular input availment.

Please share me the procedure&guidelines for applying for empanelment of concurrent audit of Pvt. sector Banks
CA S.Govinda Rajan,FCA

DEAR EXPERTS,

KINDLY SHARE ANY ONE REVENUE BUDGET FORMAT IN EXCEL SHEET.

Hi Respected Sir/Madam,
I have received CPC outstanding tax demand notice on 11-Mar-21 for amount ₹55750 for AY20-21.
But I had paid the amount with challan and updated in ITR while filling in Dec-20 itself.

Yesterday when responding to outstanding tax demand I wrongly accepted Demand Is Correct. But then realised I made mistake.

Please suggest what I have to do to get relief from outstanding tax demand?
Currently status of ITR is successfully verified.
I have submitted rectification request today.