Hi. The client we are auditing has entered a bill received on 26.07.2019 on 22.10.2019. This was a foreign transaction. TDS has been deducted as per Section 195 on the amount in Rs as per FOREX on 22.10.2019. Due to the delay in deduction TDS interest charge of 1% was also made. However my question is since the invoice was supposed to be accounted in July and on that amount TDS was to be deducted shouldnt the TDS accounted in October be the TDS on the amount as per the FOREX in July? Also isnt the expense accounted supposed to be with the rate in July?

I am confused hopefully anyone can help?

please provide the format of board meeting for alteration in objective clause.

We are a real estate dealer firm dealing in sale purchase of properties.As we purchase under construction properties as stock in trade and sell them on profit.Do we need to charge GST on its profit or total sale value if we resale the properties before issue of their completion certificate.if not whether we have to show them as non taxable supplies in GSTR-1.

if I settle a particular amojnt on 30% then what to do of remaining amount if I show as discount tgen it will be income and will have to pay tax then what to do in that condition then it does not effect profit and loss accoint

Does the limit of 30000/- apply PAN number wise or depends on Nature of professional service.? A person provides to same client 2 different / distinct professional services --Each invoiced separately and value of each less than 30000/- but more than 30000/- in total. Is he required to deduct TDS?
In case TDS is required to be deducted, it can be now deducted while making payment for 2nd invoice on total amount of 2 invoices. No TDS was deducted on first invoice as the amount was less than 30000/- In that case how is it to be shown in TDS Return -- only 2nd invoice be shown with amount of TDS deducted on both the invoices, or first invoice is also to be mentioned in TDS return? Will 2 invoices have separate entries in TDS return?

Mr A is engaged in transporting goods by road transport by his own Lorries.He is also engaging others Lorries for the same. Mr A is GST Registered dealer. Does Mr A have to pay RCM on the transportation charges paid by him to other Lorry owners. If yes, is it @5% RCM?

Hello every one,

Can a partnership firm pay professional fees (TDS 194J ) and partner remuneration (sec 40b) in separate heads to its partner.

Regards,
Kapil Verma

Please refer ITR 6 for A.Y. 2019-20 net profit included income from interest In BP part we have shown interest income as income considered under other heads and accounted the same as income from other sources resulting BP has shown business loss and bank interest is shown under income from other sources. Cpc disallowed this business loss stating PL account not showing loss. How to file rectification under section 154 and how to explain this details while filing

Notice under 143(1)(a) has come to my client stating that wrong carry forward of losses on belated return filed , so i try to file revised return in that return in the java file after selection of section 139(5) in the Part A - general(1) of ITR 6 java file then automatically loss amount is coming in the Schedule CFL even after deleting again it is coming. Please any one know how to resolve this problem.

Dear Sir,

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