Dear sir
income from salary 3,00,000 for the year17-18.
payment is received in lump sum.
Kindly advise tax planning on above case
with regards
Binu

Dear Experts,
Mr. X and Mr. Y are running proprietary firms Mr. Y has taken loan of 60 Lakh in which he has cleared the loan of 20 Lakh of Mr. X and rest 40 lakh was credited in Mr. Y account. However Mr. X will not return the 20 Lakh to Mr. Y

Pls tell me the accounting treatment for the same.

Thanks & Regards
Vishu jain

i am salaried employee, and i already invest in General Provident fund Rs. 120000/- and in PF Rs. 35000/- now I claim deduction u/s 80 C Rs.150000/-

my question is can i claim more deduction, if i invest in New Pension Scheme.

any other better option for reduce Tax.

Sir,
I had worked in a pvt hospital in Kerala as accountant from 16-4-2016 to 30-9-2017. I was included in trainee staff list.
The last month's salary is not yet received. I requested in October along with other staff salary.cashier replied that its used for pf payments of permanent staff when a deficit arose. On each request she answered in such a way. Now insists that it can be collected only after AGM which is likely to be conducted on 28-03-2018.
Is there any remedy to claim the Salary?

Suppose I have registered for GST. My turnover in previous FY does not exceed 20
Lack rs. Now I am taken Registration as composition tax payer, while filling quarterly return do I have to pay tax @1% on turnover of supply upto 15 lakh rs.

Sir,
In a public ltd co., In FY 201617,One of the Directors brings in cash Rs 34Lakhs for a land purchase in a single day. But the transaction is postponed. So the entire cash is deposited in company's current account in SBT by the accountant as per that director's instructions.
After 2-3 days the full amount Rs.34L is withdrawn in cash(via cheque& repaid to the director
What shall be the accounting treatment for the cash transactions in the Daily Cashbook to avoid any legal issues both for the director and the company?

We showed it as loan from director in cash& its repayment
Is it ok?
If its wrong,how to correct?

Dear sir please let me know the last due date for revised return of AY 2017-18(if it is filled with in due date)

Dear Expert,

my company's holding company is in US( incorporated outside India). Ours is a tech company, and we provide E platform for publishers who want to publish their work in e format. foreign holding company hires people outside India to provide services w.r.t marketing and advertisement by organizing e podiums, e book fairs etc. Service provider is an outside entity who bills our Holding company. Whatever revenue our holding company generates they send us back 80% of that, Similarly as per the Our US company also charges home company for the 80% of the expenditure incurred. ST auditor is of the opinion that we must pay service tax on 80% of the marketing and advertisement expenses our contention is that since there is no profit element involved when we are paying to our holding co. It is basically in the nature of reimbursement only Kindly advice.

Regards,
Ankur anand.

An education institution ( school ) having gross receipts less than 1 crore .

As 10(23c(iiiad)exemption available upto 1 crore they have no tax liability.

Which ITR they can use and how to show the exemption ?

SIR/MAM

INCOME TAX RETURN IS FILED AFTER DUE DATE OF FILING RETURN BUT WHILE FILING THE RETURN WRONG CHALLAN NUMBER WAS FILLED IN COLUMN FOR SELF ASSESSMENT TAX CHALLAN DETAILS. PLEASE SUGGEST ME HOW TO RECTIFY THIS AS THE RETURN IS ALREADY E- VARIFIED

PLEASE REPTLY