Dear Sirs,

We have taken a loan from NBFC. As the lending institutions have been permitted to allow a moratorium of three months due to COVID 19, our lender has amortised the interest payable for Mar20 to Jun20. The Interest portion is added to the outstanding loan amount.

My query is:
1. What accounting entry should be passed.
2. Whether TDS is applicable in Interest portion. The lender had added the total Interest to loan outstanding.

Kindly advice.

Please suggest now is this require to surrender Central Excise & Service Tax RC for closing of factory.

Thanks & regards,
Munisami.G

Hi All

Now government of India reduced PF from 12% to 10% for both employer and employee.

My question is 2% of employer and 2% of employee saving amount should be credited to employee bank account every month.

And another question is in our PF account 2% employer and 2% employee this 4% government will credit the PF account to become 24% means Indian Government helping us 4% for three months May, June and July 2020

Thanking you
Amruth Kumar

Hi All

My question is now from 13.5.2020 government has reduced TDS 25% on non-salaries for example : on Rent 10% TDS was there 200000x10%=20000/- now 25% reduction means 7.5% TDS is applicable so for new TDS deduction is 200000x7.5%=15000/- on rent. Please clarify.


Thanks & Regards.
Amruth Kumar

How to summarize the data given in Excel sheet below? I have also shown the manner in which data is required.

https://docs.google.com/spreadsheets/d/1T64Zc-QFPqhzPwpgZxIcje7Qzyb9vtf7h4ibaIDU65A/edit?usp=drivesdk

Dear Sir,

I had received a amount by NEFT on 23.01.2020 vide NEFT No. - N023200357680020 can you please help me from whom the Amount was issued to me and the persons Account Number and Branch Details please?

Awaiting for your reply

Regards
Pritesh Shah

Respected experts,
Income tax return for the fy 2018-19 has been processed by the cpc and order have been passed. Depptt has sent intimation u/s 245 regarding adjustment of outstanding demand for the ay 2012-13.actually we had filled itr for ay 2012-13 with wrong itr form and depptt had done tax calculation on gross receipts . Exemption of expenses are not given to us as we filled itr 7 instead of itr 5.
Before 6 years intimation was uploaded on portal of demand .we have not checked income tax portal for a long period as no paper notice given to us by the deptt . As and when we noticed the intimation which was uploaded by jurisdictional authority we had also replied on portal too. After that since last 4 years we have not received any objection from deptt. Itrs filled for last 5 years have been procesed without any said outstanding demand objection. We were in this belief that deptt has got satisfied,but the deptt has issued us intimation for the adjustment of outstanding demand.
Sir I want to know in this regard can I file request for rectification for the ay 2012-13.
Please suggest me . Demand amount is very huge.
Kindly advise me.
I shall be thankful to you.
Thanks

Sir,
We are a NGO and registered under Societies Registration Act 1860 and working in different part of India (10 state). Our NGO's focus area is better health and hygiene practices. In Rajasthan we are working with 4 district admin and Municipal corporation for solid waste management. My query is -
1. We Should take registration under MSME with Societies registration.
2. If yes, than what impact on our 12A and 80G registration.

Dear Expert,

I want to know in case of Preferential allotment Share can be allotted before receipt of Money from foreign investee, if company do so what are the consequences and also company is in the process of filing FCGPR and bank raised objection on allotment of Share before receipt of money. What can a company do now to file FCGPR validly.

Dear sir
I have purchased a AC for my shop ( Whole sale/ retail cloth merchant).

Can I take the credit of SGST and CGST paid for AC.

Thanks