One of my client having a proprietorship firm turnover having turnover approximately Rs.1.50 crores has opted for presumptive taxation u/s 44AD by showing profit exceeding 8% of the turnover. But since the salary of 1 employee exceeded the taxable limit , it had obtained TAN No. Now it pays rent exceeding Rs.50,000/- so now whether Sec 194IB would be applicable or Sec 194I.

If Section 194IB would be applicable then Form 26QB has only to be filled? Pls guide.

Thanking you in advance..

Dear sir,
I got exemption in paper 2 , group 1 of ca final in nov 2017,.I applied both groups for may 2018, because of my level of preparation..i am trying exemption in IDT of group 2..,Suppose if I get exemption in IDT, do I get eligibility of both exemptions I.e. along with my earlier exemption in group 1.? If yes,can I use this two exemptions marks by writing both groups in nov 2018 and pass?

We are getting one machinery for rent from Delhi. We are registered dealers in Karnataka. Kindly advice us how do we need to raise the E way Bill? Is it on the basis of delivery challan? Party is not ready to give the invoice for the same.

If private company Accept loan form director or relative of director or shareholder,more than 100% of paid up share capital and Free reserve/Security premium then such amount will cover in loan or deposits?

If private company Accept loan form director or relative of director or shareholder,more than 100% of paid up share capital and Free reserve/Security premium then such amount will cover in loan or deposits?

As per schedule 1, Gst on gifts upto 50000 provided by employer to employee are exempt.

Suppose on 1-7-2017 employer gifted goods wroth 40000 to employee
And again on 1-9-2017 he gifted goods worth 20000

Total gifts for the year is 60000

What will be the amount chargeable to gst? 10000 or 60000?
And what will be the time of supply in this case?

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?