Mr A has 2 house property in same city (house and apartment). as per the budget 2019 an individual can claim 2 houses as self occupied property. While filing the return income tax return utility is giving error when we show both the houses as self occupied

How do I show it in ITR 2.

Dear sir,

As per AS-13 all long term investments are valued at COST unless there is permanent diminution in value.

What is the year end accounting treatment for long term investments in mutual funds by private limited company (INDAS not applicable)

What is the accounting treatment for mutual funds as per INDAS

Thanks & Regards,
SAI KUMAR
+919642414296

Mr. K, a qualified professional, from Surat, wishes to subscribe Rs. 10.00 lakhs to the Vay Vandan Yojana run by LIC, in the name of his mother, aged 70. The pension derived from the scheme will be credited to the bank account held in the name of mother and the money will be at her disposal for spending as per her wish & will. Will this attract the clubbing provisions? This does not involve "transfer of income without transfer of asset" because the money will actually flow to LIC. The money will come back to the subscriber in the event of the mother's demise or at the expiry of the Policy term.

Will there be a difference if the bank account is opened in the joint names of the mother (as the primary account holder) and the son?

DEAR SIR/MADAM
who will filed GSTR-9 AND GSTR-9C FOR FINANCIAL YEAR 2018-19 ????
How many turnover required for GSTR-9 AND 9-C for financial year 2018-19.

please reply the same.

I shall be very thankful to you for the same.

We did not file ITC-04 return for year ending 2019-20, All return i.e GSTR 1 & GSTR 3B filed for the year 2019-20.
My query

can we file ITC-4 for the 2019-20 in recent year.
we never mention challan in GSTR 1 we send for job work
Is there any penalty or interest for not filing ITC-4.
we received tax invoice for job work and w took all itc for the same..


Please help us

RESPECTED SIR/MEDAM,
WHETHER IT IS REQUIRED TO DEDUCT TDS ON RENT PAID TO NRI IF PAYER DURING PRECEDING FY NOT LIABLE TO AUDIT .

Assess i.t .return f.y 2016-2017 filed as per section 44ad .f y .2017-2018 and f .y .2018-2019 i.t.returns two years not filed.
Assess f.y.2019-2020 i.t.return section 44ad filed eligible or not.

We have shown export sales inadvertently a little bit excess in GSTR-1 filed for the month of March 20 which differs from the sales to be shown in GSTR-3-B for the month of March 20 and in such situation
GSTR-1 shows excess sales and if we file GSTR-3-B with correct sales. GSTR-3-b Sale will mismatch with the sales as shown in GSTR-1. Sales to be shown in GSTR-3-B is correct. What to do in such situation ? Is there any way for rectification.

Hello All,
I have a client who is located in foreign country. Lets say Country Australia. His origin is in India but shifted to other country few years back for his studies and now professionally working in the same country for his earnings.
He wants to file Indian Income Tax Return. He is earning over there. He is filing his income statement over there.
Since this will be my first Income Tax Return for an assessee having foreign Income.
Kindly guide me how to file such income tax return and what all things should I take into consideration while filing this income tax return.
Thank you.

Dear Experts, one of my client is doing business through E-commerce operator and E-commerce operator - Amazon collect TCS and we file TCS return and amount of TCS goes to Cash Ledger. Whether he apply for refund this TCS amount.

Also he is doing trading & manufacturing. We want to do the below practice :-
Avail ITC received on services & take refund of balance ITC on goods. Is this practice is perfect or any other way to refund of ITC on purchased goods?

Kindly advise.

Rakesh Sharma