In case of a proprietorship Steel trading concerm, where turnover is Rs.75 lacs, and profit around 50000, is it compulsory to get audit done u/s 44 (otherwise 8% profit to be surrendered).
Also, is there a rule to declare 50% as income in case of professional reciept ?

Can a return be filed for AY 14-15 now under section 119(2)(b) if it was merely for filing the return and obtaining the acknowledgement and not for refunds, etc?

If not is there any other mode for filing a belated return for AY 14-15 now as the time limit for filing the belated return has also expired?

Hi,

Please kindly confirm one point when a on 28/02/2018 bill issued by a vendor for purchase and when we make the entry in our purchase day book on 03/03/2018, which date will be considered for purchase of input in filing gtsr-2A.
If Gst Filing is done on a monthly basis.....

Dear Sir,
Kindly let me know that if we imported services from outside india ,so what RCM taxes applicable on same among cgst and sgst and igst..

If the input credit of service tax not utilized within one year then it will be classified as current asset or Non current asset?

WHAT IS THE PROCEDURE FOR CONVERSION OF PRIVATE COMAPNY INTO SECTION 8 COMAPNY?

ONE OF MY CLIENT (LLP FIRM) WANT TO MAKE FOLLOWING PAYMENT TO FOREIGN, MY QUERY IS WHETHER TDS ON THESE PAYMENTS APPLICABLE OR NOT:

1. TDS ON SUBSCRIPTION TO NEWS PAPERS, PERIODICALS
2. TDS ON EDUCATION (e.g. REGISTRATION FEE FOR CORRESPONDENCE COURSES ABROAD )
3. EDUCATIONAL GRANT REMITTANCE TOWARDS GRANTS AND DONATIONS TO OTHER GOVERNMENTS AND CHARITABLE INSTITUTIONS ESTABLISHED BY GOVERNMENT
4. TRAVEL REIMBURSEMENT FOR EDUCATION (INCLUDING FEE, HOSTEL EXPENSES ETC.)
5. HONORARIA FOR DOCTORS

Dear Sir,

We are a private ltd company . We have expanded our facility . for which we hired a contractor . Who have supplied material(Sand, Cement etc) plus labour for construciton of our building .

Pls guide would we get ITC on his bill

Dear All,

We have applied for the Loan for renovation of House, bank has granted us loan against mortgage of Property , as predecided, Bank has made direct payment of Loan amount in the name of the Interior Decorators Account , meanwhile Decorator has changed many terms in the Contract by his own , which were not acceptable us , because of which contract was recinded .

Now, we have proceed for the renovation contract from some other contractors , wherein different kind of works shall be performed by different vendors ( like, Civil, electrician , plumber and Carpenter )

We have asked our earlier interior in whose Account bank has paid money to refund the balance amount of loan which he has not yet spent .

Now, we want to take back the money in saving Bank Account of the same bank from where we have taken loan , will there be income tax related issues , because now the balance amount will reflect as reciept from Contractor and it wont be direct deposit of funds from bank towards home loan disbursement.

Our EMI will be repaid through same saving bank account. Please guide us, it is urgent

If a Indian Partnership Firm (just formed) is providing consultancy services to a foreign client, in this situation will the Indian Firm need to register for GST (The income will not cross the taxable limit till 2019) and raise invoices with GST to foreign client?

The Indian firm provides recruiting services, drafting of HR policies etc to the Foreign Client. The people would be recruited in the foreign country only. The Foreign client would not come to India. Money would be received In India. The people providing services are Indians