In case of a partnership Firm suppose if there is gross receipt is up to Rs. 150000 and Loss during the year is Rs. 30000.
Will the Tax Audit required for such firm?? If the firm has not opted 44AD.
And
Which ITR form is to be filed for Firm as well as for Partners for AY 2017-18.
Thank You

Good afternoon all,

Suppose Mrs. A (married ) daughter of Mr.X having LIC premium receipt paid on her life which was paid through cash.
My question is Can Mr. X claim this LIC premium amount under section 80C in his return of Income? As section 80C says we can claim deduction if premium paid on life of married daughter also. Is there any compulsion payment should go from bank account of Mr.X?

Dear Sir/Madam,

We take legal service from advocate (Karnataka states) and he send bill to us (Mumbai) Rs.100000/- without any GST Charged. We have paid Rs.90000/- after deduction of TDS.
The GST Tax is applicable - IGST- @18% - this is correct or wrong
Rs.18000/-GST Paid on Reverse Charge Mechanism (RCM) services.
Rs.18000/- Can avail ITC in next month or balance in ITC Ledger Rs.18000/-

Please advise in above matters as earliest.

Thank & Regards
N K

I want to file my It return, but on Adhar card I dont have registered Mobile card. Without that can I file my IT return

After resignation EPF amount refund received is taxable in income tax? if yes, then under which head "Salary" or "other income"?

Dear Sir,
During FY 2017-18, my wife has tax free income 1) Sale of Long Term equity Rs. 8 Lakh... 2) Bank Interest on PPF Rs. 1.30 Lakh.. Both are tax free. I am not filing till date any return... In Past also every year 3-4 Lakh Long term Capital Gain, and Interest 75000 to 80000 .. Income is their.. Since Income is not taxable I am not filing any return . Is my stand is correct ? Whether it will attract any clause which will I have to face. Please advise... Me what to do for A.Y 2018-19... Thanx

Deal All
What is the turnover in Composition Scheme in GST

A registered person supplying taxable goods are required to issue an invoice before or at the time of remove or delivery but in any case invoice issue after such due date than recipient can take credit or not.

Good morning all,

Is TDS need to be deducted if firm pays Interest on Partners Loan (Current A/c)?

Please clarify me section 194A(3)(iv)

I am trying to upload the PTRC return. I have downloaded the return template from www.mahagst.gov.in portal. However, while uploading the return, i am getting the following errors: 1) Error while file upload 2) At least one BRF message of type W, E, A or X occured 3) Balance payable should not be more than zero. (Please note: the balance payable is not more than zero) Kindly help me to understand the above errors so that I can upload the return at the earliest.