Dear Sir,
Greetings!

Our company's combined turnover of all the branches is 15-16 crore. Should we opt e-invoicing from 1st April 2021? Please advise.

Regards / Vijay

What is the GST rate for SAC 998892 (Jewellery Manufacturing Services) ?

what is the process to deduct TDS from salary if an employee join in the new organization during the month of March,2021 at higher Salary and no declaration is received from previous employer regarding TDS deduction.

we are saree manufacturers and deducting tds @1% (0.075) up to march 31-2021. But from April if the weaver whose income is below taxable income and not summitted Income tax returns for the past 2 years is is must to deduct 5% or as usual 1% even from july-01-2021 too. any section with exemption or notification is this regard. Please give your valuable reply. thanks in advance
K.B.Nagesha Rao.

Dear Sir

Please suggest regarding GP. In 2018-2019 My Gross profit 8.37% In 2019-2020 its 8.37% But in current Financial year 2020-21 its 7.10% even my purchase and sale increase from last year. Can i face any issue Surcharge or plenty from Income tax or GST department.
Please guide

Hi
I filed my ITR in Nov 2020 and my tax refund was successfully processed and credited in Dec.
However on 29th March 2021, like many others I received the message for acknowledging high value transactions and revise ITR if applicable.

My query:
My total tax paid was X and tax liability was X minus 15000. So i got a refund of 15000 in Dec 2020.
However now my tax liability after declaring other sources under savings accounts and FD is "X plus 15000". So, as I have already received the refund, my additional liability should be 30,000. however the portal is not yet updated with the tax refund that was processed in Dec 2020 and its asking me to pay only 15,000 as the additional tax (instead of 30,000)

On 29-03 Income tax dept sent my spouse a high value transaction saying other Sources of income is 12lakh for fy 19-20 .However when i checked details i found out whatever her original reported source of income i.e 4 lakh which is interest income from deposits they have replicated the same in 2 savings bank account under SB interest.This is just baffling to me.she hardly had 3000 rs in 1 of the savings account and another savings is dormant.The 4lakh other sources of income that came was reported accurately by her and tax was also paid.she responsed to to e campaign message indicating 2 values of 4 lakh each in SB accounts is just duplicates of deposit interest and denied it on the portal
If they validated and remove those 2 incorrect entries then her originally filed ITR becomes accurate.

Pls advise in such a case that even though these extra incomes(4LAKH *2)she have never earned and they simply showed it up against SB account and seems a reporting error either by bank or by IT Dept do i have to file revised ITR?.

Dear Sirs,
My client is purchase a land with residential house property in consideration of 1 crore, whose stamp duty value is 3 crore in the F.Y. 2020-21 relating to the A.Y. 2021-22, My client is dealing purchase/sale of land/ house property & not want to sale the property in same F.Y. i.e. the property kept in stock in trade of my client Is any tax will attract u/s 43CA or 56(2) (x) of the I.T. act in same F.Y. to my clent party ? or any tax will attract under capital gain section of seller party? please clarify. Thanks

SIR-

1] Unabsorbed depreciation loss can be carried forwarded to the next financial years for set-off in case the IT Return filed in late for individual?

2] If TDS payables not paid in current year but to be paid in the next financial year by GTA PVT Company, the deductee can claim it in the next year?

(a) if the deductee is the director of that company?
(b) If the deductee is not the director of that company?


Plz guide us sir
thanks in adv

I am a Chartered accountant, first 6 months i was employed and was earning salary and next 6 months I was into practice and hence earning professional income.
my questions is how should I treat accounting of the tax liability in tally/books.
one ITR will be filed with both salary and professional income and one final tax amount will be computed but should i show this tax amount in my professional accounts or personal account? since i need to adjust TDS also while paying these taxes and in my professional account/tally only TDS on professional income is booked where as TDS on salary income is reflecting in my personal books.
P.S. i keep two books in tally - for my individual firm and my personal finances.

kindly guide.
thanks