My friend is having a agricultural land in Madhya Pradesh, on which there is High tension Line proposed. Government i.e. M.P.Power Transmission company Limited is giving compensation for the high tension power lines over the agri land. Is the compensation taxable or non-taxable under Income Tax Act 1961. Please suggest.

With reference to our application to M/s. DGVCL (Electricity Board) for reduction of Contract Demand from 4500 KVA to 1000 KVA, we received estimate letter from M/s. DGVCL, Surat asking us to pay charges for Supervision Charges and charges include GST so which SAC Code is applicable for said(Supervision Charges) Charges for GST 18%.

Hello,

Please advise if the medical expenditure spent on my wife like medicine and test during pregnancy can be deducted under section 80D or not.

Thank you in advance.

Regards,
Piyush

Hi,
Dear member,
MCA has Approved the incorporation of my company, where there is no space between Private and Limited (i.e its Privatelimited). but there is no such mistake in the spice form, in spice everywhere there is a space between these to words. so, please guide where there is anything to worry or not?
if yes there is some legal implication of it, how to get it Resolved?

What are the provision related to TDS on Payments made to Company incorporated Outside India(i.e NRI) .

The Payments is on account for Facebook Ads Management.

Suppose,

I am firm and having 25 employees, one of my employee is having yearly salary of 420000 gross and having eligible 80c deduction amounting to 20000.

If above is the situation and applicable standard deduction will be 40000 as per norms then what will be TDS implications?

Is my answer of deducting 5500rs is correct?

Dear Sir, My proprietor has building a new building.my question is the cheque is given to x of rs 56000.00 to construct new building.how can i make journal entry and for which head? drawings or Land account? please reply

One of my client had availed loan of Rs. 20 lacs in 2015 and later on defaulted in last 12 payments amounting to Rs. 5 lacs appx. After discussion with lenders both agreed to settle the same for Rs. 4.50 lacs. The company paid Rs. 4.50 lacs and settled the a/c in books of lenders and also received the NOC. Now balance Rs. 0.50 is outstanding in loan account but it is not to be repaid. Please guide as to what should be it's accounting treatment. Which entry should be passed in books of company to close the loan account.

Please guide

Thanking you in advance.

My friend is having a agricultural land in Madhya Pradesh, on which there is High tension Line proposed. Government i.e. M.P.Power Transmission company Limited is giving compensation for the high tension power lines over the agri land. Is the compensation taxable or non-taxable under Income Tax Act 1961. Please suggest.

Dear Sir / Mam

A manufacturing co. Makes paint. It purchase s raw materials. Sometimes it return goods by making sale invoice. Can co. Do this even does not deal in raw material.
If yes we will aasume it sales or purchase return how can we pass entry in tally.

My sir says it will treat as sales , i agree but he says after making sale entry we have to pass journal voucher to reduce purchase basic value not tax. Can i do so. Can we pass such JV