Hi Sir,

I have a problem related to treatment of "Loss of capital in case of partnership firm". The background of case is as follows:

I am a salaried person, parallelly I am a partner in a partnership firm from Fy 16-17.Now in April I sold my share at loss to another person who is an incoming partner. Why I am saying a loss is because the Capital introduced is more than the value of my share sold.

Now my confusion is against which head of income should I set off this capital loss. As we know that loss of partnership firm is set off against the same head but this case is different due to my discontinuation from the firm as the partner.

Appreciate your expert advice.

Warm regards,

shall we capitalize expenses to purchase stock??

for example: timber purchased from farmer and expenses towards paid forest permit, cutting, freight, labour, etc. because upto now we didnot start sale of timber/furniture. can we capitalize to stock with above expenses>>??

Dear Sir,

My Quarries regarding Purchase of Material from Party via Jobwork done by another party... to briefly discuss.... Mr.X purchase from Mr. Y but Mr. Y sent goods to Mr.Z for Jobwork Purpose and Mr Z Delivered Goods to Mr.X directly, here Bill is booked in the name of Mr.X.

Now my Quarry is which document is required to complete this transaction and E-way Bill Prepared on which name?

I had traded in Derivative Instruments(Nifty F&O) via recognized stock exchange( NSE) and STT was also paid. As it comes under business activities, in my ITR filing I offset the loss in F&O against my traditional business income along with an audited balance sheet.
After that IT dept. sent me a notice and my advocate prayed for a rectification u/s 154; now the IT dept has rejected that and have sent a demand notice.
In this circumstances, what should I do next?

Up to 3rd quarter i make payment of Rs. 76000 (18000+12000+26000+20000) and TDS is deducted @2% on Rs.76000 in 3rd quarter and Tds return is filed successfully for 3rd quarter. in in next quarter i make payment of Rs.8500 to same person.
my question is that whether Tds is deducted on Rs. 8500 or not ? Please help me with this regard.

I have running advertising business in Hoardings. I am purchasing hoarding from some one for the period of 1 month or one year. I deducted TDS as per 194c up to 31-3-18. Now some one insist that, TDS to be deduct as per 194I or 194IC.Please give me a correct suggestion

Dear Sir,
In light of said notification, I wish to ask that, suppose recipient and supplier are from the same state then supplier would charge .1% igst
or
.05% cgst
.05% sgst

I filed tds return of salary in form 24Q for the F.Y.17-18-Q-1 &Q-2 but no tds deducted in Q-3 & Q-4. Now client demand form 16. While give form 16 request on traces, a web message shows that this statement has challan with non zero challan amount Plz enter details of such challan . I select option 1 of part A then again this msg apperars.
How to give request for form 16. plz tell me if anyone know what to do in this situation.

if eway bill is not generated but truck contain taxable invoice and tax amount in all invoice in truck is 20000 and there is no evasion of tax.than what is the maximum penalty depart can pass?
penalty of 20000

or tax amount + penalty=20000+20000=40000

I have got an Income Tax notice 143-1(a) for AY2017-18 stating mismatch between numbers mentioned in form 26AS and ITR-2. I observed that form 26AS is showing gross salary without factoring section-10 deductions (HRA, Washing Allowance, LTA). I had reported the net salary as mentioned in form-16 while filing the ITR. Please suggest how should I respond to this notice.

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