Sir,
A Doctor maintained a dental clinic and selling of medicines in pharmacy Stores turnover rs:50 lacs below opt presumptive scheme itr returns filed.but assessess selling of medicines transaction professional service used purpose income treatment in itr returns allowed or not

Can a Managing director of a listed company (who is already drawing remuneration under Section 197 of Companies Act, 2013) can draw professional consultancy fees from a UK based Company in which he is the only Director and Shareholder?

When a company borrows Term loan from Bank and capitalize the interest during construction , so one side the value of fixed asset increase but on liability what amount increases? whether Bank Term Loan will get increased or other liability increases?

If a private limited Indian company had invested in 100% foreign subsidiary in Vietnam
This being the first transaction to acquire shares in foreign entity ODI was done

Query 1: whether transfer pricing will apply on this transaction where the equity shares are acquired at face value in foreign subsidiary? Or this be considered as capital transaction and is outside the preview of TP

Query 2: If TP is applicable then what would be the method of valuation used for comparison?

Query 3: Is form 3CD also mandatory to be filed if transfer pricing is applicable to an entity even if the turnover is below 10cr?

company "A" holds 33% share capital of "B" . Also directors of "B" are promoter of co. "A" and "B" .
do IND AS 110 applicable on co. "A".

please suggest

I made a partnership deed and included both these terms:
Is there a requirement for specidic wordings or would what I've included suffice?

1.That interest on capital shall be payable on the amounts standing to the credit of the Partners’ accounts at the rate of 12% p.a. Such interest shall be considered as an expenditure of the firm and shall be debited to the Profit & Loss Account of the firm before arriving at the divisible profit or loss.

2. The salary shall be paid to working partners as mutually agreed by them. The remuneration payable to the said working partners shall be computed in the manner laid down or deduction under section 40(b)(v), read with Explanation 3 of the Income-tax Act, 1961 or any other applicable provision as may be in force in the income-tax assessment of the partnership firm for the relevant accounting year.

hello
have downloaded the xls Macro for PTRC return for FY 2023-24.
it is asking for TIN and TAN of employer. is it mandatory field?
The field for Employer name is not editable. how can we enable this?
thereafter, am not able to validate the file, the validate button is inactiv.
is it due to not filing of employer name?

please guide how to correct the macros and enable these buttons/ fileds

Whether a partnership firm (newly formed during FY 2023-24), can declare his income U/S.44AD , if total turnover is less than 2.00 crore (Entire bank transactions) ?
If yes, Whether Interest and remuneration paid to partners may be deducted further from the declared income ?

Hi There,

Labour Cess charged under which accounting head?

Individual having turnover of Rs. 6 crore in very first year than it is compulsory to deduct TDS in first year also at applicable rate on various payment related to TDS


he has paid rent above 50000 DURING THIS YEAR THAN SECTION 194I applicable OR 194IB, As in section 194IB it is mentioned that in case of individual and HUF covered under audit than provision of 194IB will not become applicable.