Hello All,

We have Ordered for PEB Work to Supplier, as per PO Terms there is LD Clause if supplier not work done within time line LD will be applicable,

Now Work Completed but beyond time line so we are charging them LD.

Tell me Accounting Treatment for LD Amount,

DR to Supplier,
Cr to ?????

1.PURCHASED GOODS FROM US $ 1580.
2.THERE IS MIDDLE PARTY THERE NAME IS FEDEX AND THEY ISSUED ME A IGST CHARGE RS.21376.13 AND THEY PAID IGST SO THEY CHARGED TO ME..
3.NOW I AM CONFUSED THAT WILL I HAVE TO SHOWN IN REVERSE CHARGE IN OUTWARD SUPPLY IN COULUMN 3.1(D) AND CREDIT CLAIM ON "IMPORT OF GOODS" COLUMN IN 4(A)(1) IN GSTR 3B.
KINLDY GIVE ADVISE

Respected Sir,

A Builder has sold a flat in Feb 20 for a sum of Rs 2.60 Crores.What will be the rate of GST on sale value ? The buyer has paid the sale value to the buyer but the buyer will pay GST from his account. In such situation what to do ? What kind of precautions shall be taken on such issue ?

Please guide me and oblige.

Employer did not give form 16 and deposited TDS. Computed and paid tax based on computation on XP’s given by manager taxation. IT has sent notice for recover by coercive means if demand amount not paid. Kindly advise at earliest

Can income from part time home tuition to school kids & providing homeopathic medicine suggestion (not a fixed fee but whatever is given as token or even free) in a very irregular manner be shown as income from other sources, it being hardly a lakh in a year, besides interest from s/b & fd a/c, total being less than 2.5, in itr-1. If yes, what descriptttion of other sources to be given. There is not any other income in this case.

Hello, I have a question

I sold a land gifted by my mother in law and I wanted to know if I club the LTgains as is (35 lakhs) with my mother in law income or after 54ec deduction which in my case LTCG taxable becomes 0. So there will be no income to club.

If the 35 lakhs is clubbed with my mother in law, will it be reported still as capital gains or income from other sources on my mother in law return

Where on itr2 do I show that the income reported and corresponding tds on 194a will be clubbed with my mother in law?

Thank you

A sole proprietorship production house is planning to sell a web series to any OTT platform like Amazon Prime.
Should it be treated as Transfer of Intellectual Property (IP) right in respect of goods other than Information Technology software and charged at the rate of 12% GST

If not Please tell the correct GST implication of the same ??

DEAR SIR,

GSTR1 LATE FEE APPLICABLE ??

WE HAVE NOT FILE GSTR1 SINCE JULY 2019

Sirs,
I bought a land in 2005 for 11 lak.of 1 acr - Sold a month ago. I was told the present deemed value is ~23 lak The sale value was 63 lak.
I have paid 2 persons 5 lac brokerage- I paid thro bank rtgs & paid 5 % TDS each- deposited them also.
I had built a compound wall -spent around 9.4 lak & digged a bore well for 8 lac. But these are done over 3 years, , with local masons etc.
I dont a have a clear bill.
Can I claim this as an expense. Thanking you for the advice.
Ram

if any ca is in practice. and doing audit of some entities and opens a another sole proprietorship practice entity in the name of his wife (his name is not in new practice firm) for account maintenance of same entities( in reality he is maintaining account) of whom he is doing auditing .
Is it valid in eyes of law because the main purpose of various provisions is that the auditor must be independent . but threat of self review is exist here.