MR.X earned business income rs 250000 and interest from firm rs 100000 as well as capital rs 15,00,000.
query is
1.whether i have to show interest from firm in PL credit side?
2.do i have to entry direct while computing the income.
3.can i enter 15 lacs as investment in BS?

Sir,

We are yet to submit the March 20 3B return.

We have received a debit note from our customer towards sales return in March 20 and the total GST amount involved in that debit note exceeds the output tax payable by us for that month ( without adjusting the ITC ). Shall we adjust the balance amount of GST pertaining to the Debit note in the Month of April 20, since the Financial year changes ?

Further, If we adjust the entire GST payable through 3B return against the debit note, can we show Nil value in the Table No. 3.1 in the 3B return, under the " Taxable turnover " column ?

Pls. advice.

Hello all,
A person say Mr. X and his wife say Mrs. Y are filing regular income tax return each year. Each are having separate income of their own. They have child Mr. A who is just 3 years old. They have executed Bank Account and FD Account in the name of Mr. A and there is regular source of Interest Income generated in the name of Mr. A. Now Income generated in the name of Mr. A should shown in which form under Income Tax. Also whether the Income of Mr. A shall be clubbed with the income of their Parents? If Yes, than under whom shall it be clubbed i.e. with the Income of Mr. X or Mrs. Y.?
Please Guide..

1.One of I.t. Assess purchases of goods on credit based dt:10-04-2020 invoice amount rs.2,50,000/-.
Assess cash payment rs.10,000*25 days=2,50,000/- paid
1.assess each day rs.10,000/- paid sec 40a(3) accepted in I.t. act.
2.violation sec 269 St provision.

2.one of gst registered regular scheme dealer purchases of goods (two invoices ) not reflected in gstr2a
Reason seller invoices b2c shown in gstr1.
Assess two invoices(gstr2a not reflected) ITC claimed eligible or not in gstr3b

Dear sir

My query are that at present is RCM applicable on Unloading charges if yes pl rate of GST.
and we take the sevice of a laobour contractor for packing , finishing the products and pay to him labour per piece. Is rcm on this service is also applicable. If yes pl rate of GST and we can take the ITC on both condition.

Thanks

Dear Sir,
My client received investments (Preference Share) amount of Rs. 1.15 crore.
As per form 61A, if an individual invests in share more than Rs 10,00,000/- in the financial year, is mandatory to file.
So what are the investors details required to file form 61A.

Sir
I missed to furnish one invoice in gstr1of Feb 2019 but I pay my tax liability of gstr 3b in Feb 2019.
Due to non uploading of invoice it is not shown in gstr2A. Can I add this invoice in Feb 2020.
Becoz I had filed all gstr1 up to jan 2020. Can amendment possible...?

If a hospital having turnover less than 1 crore would be eligible exemption under section 10(23C(iiiae) in case it runs a medical stores which has seperate books of accounts and turnover of the said medical stores if added to gross receipts of the hospital, the amount exceeds 1 crore

My daughter is 9 years old. May i apply PAN for my daughter. My daughter has a ADDHAR NO.

May i purchase a car ( Loan taken from Bank) in the of my daughter.

By mistake One purchase bill not shown for the month of Feb 2020, so no input tax taken on that purchase bill for the month of Feb 2020, but now For the Month of May 20 that purchase is taken into consideration for claiming input tax credit.
1) Should i avail input tax credit for the month of May 20 ?
2) What is the maximum time limit for utilization of Input Tax Credit for the FY 2019-2020 ?


Regards.