Hello, will be grateful for following informations:
I am having case of AOP. It is registered under Bombay Trust Act.
This AOP is running 1 school. and needs to prepare Balance sheet and file ITR.
Now my query is -
1. Who can be auditor of AOP (Association of Person) (Sanstha)?
2. for filing ITR of AOP should we need to file any FORM before/after filing ITR?
3. Should income of AOP be shown under Business Income? and should we file Balance Sheet & Profit and Loss in ITR?

Thanks in anticipation.

Hi Experts,
Need some guidance on the below topic:
"A" provides service to "B" and raise an Invoice for the service provided. At the end of the year, based on the volume of business, "A" needs to pay back 5% of the total Sales amount to "B". This is something which they termed as cash back in commercial parlance.
E.g. If total sales during the year is Rs.1,00,000, then at the end of the year A has to pay Rs.5000 to B as cash back amount for the business given by B to A.
The question here is, whether the cash back amount is subject to TDS? If yes, will it attract TDS u/s 194H?
Please suggest.
Thank you!

Dear Sir/Mam,
Please guide on Following Case.
In FY 2018-19, Mr. X wrongly considered advance received as Income in ITR. And claimed full amount of TDS in FY 2018-19.
Please guide what he can do in the ITR of FY 2019-20. Bills against advance has been raised in FY 2019-20. Should he deduct advance from Total turnover in FY 2019-20 ?
Please guide.

My client is a salaried beautician, apart from that in the previous year she received about 30,000-35,000 as consultancy fee as a beautician. I would like to know the appropriate head of Income derived from such Consultancy Fees. I am in dilemma whether it is to be charged under PGBP or Other Sources?

A gst registered regular scheme dealer closing business.closing stock value Rs :5 lacs.dealer yearly turnover below 1 cr limit.
Question:
1.closing stock value Rs 5 lacs sales turnover treatment.
2.dealer cancel of gst number after gstr-10 filed compulsory.

In form 3CD, point 31(a) - Particulars of each loan or deposit in an amount exceeding the limit specified in section 269SS taken or accepted during the previous year under head - Amount of loan or deposit taken or accepted

1. Are we required to disclose the amount accepted during the previous year only or the total balance outstanding (opening + accepted during the year) ?
2. Are we required to disclose the name of parties from which no amount has been accepted during the year but there is an opening balance outstanding?

Thanks in advance and really appreciate the feedback

A foreign holding company is having a 100% Indian subsidiary with an authorised and paid-up capital of INR 1.0 million. Due to the losses in Indian subsidiary, the capital is now exhausted, and the foreign holding company is not interested in buying new shares in the subsidiary, instead can issue a temporary loan (repayable in two years - interest-free). They can do so? If yes, what is the process?

One person has purchased a residential house property in the financial year 2016-17 through availing Housing Loan from a Nationalized Bank. Now he wants to sale the said property in Financial Year 2020-21. My Question is the interest paid on housing loan of said property can be included in the cost of acquisition of the property while calculating the Long term capital gain, even if he has taken benefit of loss from house property U/s 24 B in his income tax returns filed during the periods.

A NRI wants to incorporate one man company in INDIA. Presently, he is out of INDIA. my question as under:

can a NRI do it?
is it necessary to present in INDA at the Time of Incorporation?

I am, being Karta of HUF, going to make full Partition of HUF this month.
There is no immovable property in HUF. Only FDs are there. Most of FDs are matured and amounts are transferred to coparceners by book entries as well as bank transfer. But one tax saving FD maturing after 3 years transferred to coparcener by book entry but not possible to transfer amount by bank. Interest on tax saving FD will be received by HUF in future also. Can we say it is full Partition?
Onus for passing order u/s. 171 lies on assessee. What is the online procedure for the same?