Kollipara Sundaraiah
01 November 2020 at 09:46

Sec 269 st applicable

One I.t. return sec 44ada professional income filed person cash
transactions different debtors in 19-20.
1.dt:20-05-2019 cash received old debtor(Mr.A) Rs:1,90,000/- through on cash mode single day
2.dt:15-08-2019 cash received from another old debtor(Mr.B) Rs:1,50,000/- through on cash mode single day
3.dt: 20-10-2019 cash loan paid to another new debtor(Mr .C) Rs:3,50,000/- through on bank mode .if same debtor same date Rs:1,50,000/- cash mode received .

.
Question:
Assess above cash transactions allowed in I.t. act sec 269 st and sec 40a(3) applicable


Krishnan
01 November 2020 at 09:19

Consultant Work

Hi,

My friend resides in Noida, and works from home. He is working on contractual basis as a Consultant for Credit Risk Management (Credit /Finance related for a fintech) work for a Company having HO in Bengaluru, but having branches in different cities. He works only for this Company.

His work is done using computer and phone. Some times he travels to different locations as required by the Company for meeting/training purpose. Post covid he has not travelled anywhere.

HIs Gross receipts from this Company was less than 20 lacs, so he had not registered under GST. But this year it will go above 20 lacs to 30 lacs.

Will such work come under inter-state supply?
Will he be eligible for Composition GST @ 6%?

Regards,
Krish


Chintan Kareliya
31 October 2020 at 22:17

RETAIL SHOPKEEPER ACCOUNTING

(1) IS IT NECCESARY TO KEEP STOCKWISE ACCOUNTING FOR RETAIL SHOPKEEPER HAVING VARIOUS SMALL CATEGORY STOCK???
(2) IS ACCOUNTING WITHOUT CREATING STOCK POSSIBLE IN THIS KIND OF BUSINESS ????
(3) HOW CAN I VALUE CLOSING STOCK AT THE YEAR END IN WITHOUT STOCK ACCOUTING???


GURIYA SINGH
31 October 2020 at 21:14

GST RATE AND TREATMENT

A housing Society is getting construction work done through contractor whom they are paying GST 18% and collecting 12% GST on Advance from members for Flats, issuing receipts voucher against advances. Is this right? What will be its 6 digit HSN/SAC code and whether it is mandatory to be mention in Receipt Voucher? And if some advance received in pre GST period for which ST is paid and amount is now refunded back to customer in GST period, whether output tax liability need to be reversed and refund voucher need to be issued ? and how Refund vouchers should be treated in GSTR 1 as their is no Column for its treatment.


Rachana daga
31 October 2020 at 19:22

SURRENDER OF DIN

WE ARE NOT ABLE TO FILE DIR-5 E FORM SURRENDER OF DIN OF DIRECTOR . THE DIRECTOR HAS FILED DIR-12 AND RESIGNED FROM THE COMPANY . NOW SHE IS NOT ASSOCIATED WITH ANY COMPANY BUT DIR-5 SHOWS ERROR THAT DIRECTOR SHOULD NOT BE ASSCOIATED WITH ANY COMPANY FROM THE DATE OF PROCURING DIN. DOES ANYONE HOW TO SURRENDER HER DIN OTHER THAN FILING OF DIR-5????


ARITRA CHAKRABORTY
31 October 2020 at 18:50

How to show GST TDS/TCS in Accounts

If someone deducts tax at source or collects tax at source from GST, How shall I account for the same in the Books of Accounts? plz guide me.


MADHU MITTAL

companies act including Accounting Standard are applicable on private limited concern. I am unable to find out how to calculate (per centage of debtors etc) allowance (provision) for bad and doubted debts according to companies act including Accounting Standard.


Isen Oommen
31 October 2020 at 15:47

Selling my comapny

I have a small company whose paid-up capital is 13.5 laks. The company was incorporated in 1997.
It was a member of the erstwhile Cochin stock exchange.
Now the Stock Exchange is not trading independently so members became authorized persons.
The company has a carried forward loss of around 3 lakhs .
The company can still trade with Cochin stock brokers ltd
How can I sell this company
Your advise


nitin
31 October 2020 at 15:06

Party name change in Sale bill

Dear Experts,
we had generated the sale invoice of our party in 1st week this month with amt. above 1 lac. Eway bill generated. Now party is saying to change their party name in sale invoice with thier 2nd unit which has different name and gst no. in same state.
my query is that what should we do now?? because we cannot do any change in sale bill because Eway Bill generated. so please give your suggestion on this issue. thanks in advance.


Pradeep Kumar
31 October 2020 at 14:37

Section 54

Hello,
For the purpose of section 54 (to save LTCG tax), can I reinvest in a residential property which is under construction?
Or do I must only invest in a residential property which is ready to move in.

Appreciate your response!

Thanks, Pradeep





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