an assessing officer has added income to our business profit based on old GP Ratio, because gross profit has reduced over the years, mainly due to reduction of price due to stiff competition.Can we defend our case,please quote any case laws

my client has proprietorship & one partnership firm in which he is active partner. he has taken government contracts. the turnover of the individual firm or proprietorship is not upto the condition in which contract is given. if both the firm merged then condition of the turnover is fulfiled. in such situation kindly give me advise

Respected sir
As you know that as per provisions of section 44AD of the Income Tax Act, 1961, we have to show minimum 8% net income of the total gross receipts. In case of a partnership firm, Whether it is Book profit or Net profit ?
My question is that – In case of a partnership firm, whether this 8% net income should be treated after deduction remuneration to partners or prior to this deduction.
Suppose, in above query after deduction of remuneration, total income comes less than 8%, then whether the firm is needed for audit or not ?

How to calculate eligible book profits of partnership firm to calculate Allowable remuneration for FY 2017-18. Because since we opt for presumptive income, We will not have any P&L a/c to calculate book profit. Whether 8% of turnover itself can be taken as Book profit and Remuneration to be calculated based on such 8% of turnover? Or P&l A/c is required to be prepared to calculate book profit...??

An assessee has a turnover of Rs. 1.5 crore for FY 2017-18 and he is a partner in another firm.
Whether he can file ITR 3 with Net profit @ 6% or he should file ITR 4 as turnover exceeds 1 crore?

If Son's LIC premium paid by Mother & in this case Son is not dependent , mother will be eligible for 80C deduction ??

am senior citizen I have invested RS.615000/- in March 2015 in LIC Bima Bachat.I have not utilised this Investment for deduction U/S 80 C as I have already invested RS.150000/- in PPF. I have received RS.120000/- 15% Money Back in March 2018.Lic has deducted RS.1200/- towords I.Tax.
Whether I have to show this amount as Income. I have not utilised Investment for deduction U/S 80 C
Please guide me.
Dilip Phatak

While filling GST Return till now we shown liquor sales as non gst sales, now the department people asking us what is the basis for classifying those as NON-GST sales.

Please help us in this issue with your suggestion.

We are a 100 % Export oriented unit. We do not have any DTA sale. GST paid on capital goods is also a part of our unutilised ITC. This GST paid on capital goods is not being accepted for refund by the jurisdictional officers. They say that we can only adjust it to our taxes DTA sale. But we do not have any DTA sale. Please advise.

HELLO SIR

ONE OF MY CLIENT HAD FILED THERE INCOME TAX RETURN AFTER DUE DATE FOR ASS YR 2017-18 FROM ANY AGENT OF BANK FOR LOAN PURPASS.
THOSE PERSON HAD FILED WRONG INCOME TAX RETURN TAKE FAKE INCOME OF RS 12 LACS, AND NOW DEPARTMENT RAISED DEMAND OF 180000 FOR THIS RETURN.

SO IN THIS CASE WHAT SHOULD WE DO FOR RECTIFIED THIS RETURN.

PLEASE GIVE SOLUTION FOR THIS MATTER...