in a business of renting heavy earthmovers like JCB Machines and Loaders, a large amount of direct expenses is there in form of Grees-Lubricants and Parts-Accessories and repair/maintenance.

Is ITC is admissible on all these expenses.

Beside this is can one take ITC on all business expenses like telephone/stationaries/accounting softwares exp/Bank charges; except on Travelling and Fooding exp.

Kindly elaborate and advice.
Thanks

Dear Experts

When we buy fixed assets then we add any cost incurred thereon to the fixed asset till the asset gets into working condition.

But when we buy goods, do we also add freight cost into the goods or do we open separate account for freight?

regards
shivani

Dear Experts

If X receives goods from Y on 30 March 2017 but receives invoice on 4-Apr in respect thereof then how will accounting be done in books of both X and Y?

What will be the entries in two financial years involved?

regards
shivani

Dear Experts

If X has a place of business in Chandigarh and one godown in Chandigarh and another godown in Panhkula (Haryana).

Now if X buys goods from Y and wants some goods to be delievered in Chandigarh godown and some goods in Panchkula godown, then how will Y do the billing?

Will Y issue two delivery notes and two invoices one each for Chandigarh and Panchkula?

regards
shivani

Dear Experts

X has a main place of business in Punjab and a Godown in Haryana.

Now does he have to take GST registration in both Punjab and Haryana?

regards
shivani

Is there any restriction under the Company Act of 2013 that CSR expenditures (2% of the average net profit of the last three financial years) be incurred within one financial year?

HI, I NEED UR ADVISE ON A PRIVATE LIMITED COMPANY WHOSE RETURNS OF LAST 10-12 YRS i.e. since incorporation ARE NOT FILED YET. THE COMPANY WAS GONE DORMANT IN BETWEEN BUT AFTER FILING THE REQUISITE FORM ITS ACTIVE AGAIN AS ON 08.08.2017. SO MY QUERY IS WHETHER THE FORMS TO BE FILED WOULD BE FORM 23AC,23ACA, 20B, 23B OR IT WILL BE THE LATEST FORMS LIKE AOC 4 AND MGT 7, WHICH IS UPDATED AS PER COMPANIES ACT, 2013. IS THERE ANY SPECIAL REQUIREMENT OR FORM WHICH I HAVE TO TAKE CARE OR FORM TO BE FILED...
ALSO I NEED ADVICE ON SUCH MATTER THAT I WANT TO REMOVE AN ADDITIONAL DIRECTOR BUT HE REFUSES TO RESIGN FROM DIRECTORSHIP SO WHETHER AN ADDITIONAL DIRECTOR COULD BE REMOVED WITHOUT HIS CONSENT. WHATS THE PROCEDURE. PLEASE ADVISE

Section 44AD is applicable to a partnership firm who is engaged in the business of sub brokerage of stock market??

I have following queries

1.What is meaning of "income derived from property held under trust"?
2.In what circumstances does trust need to file form 9A w.e.f AY 1617 ?
3.In what circumstances does trust need to file form 10?

Dear sir/mam
I e filled ITR on 27/06/17. Later I discovered I forgot to mention my FD interest in gross income.i filled revised return on dated 29/07/17. On 07/08/17 I found an email has come from CPC to my spam box as intimation u/s 143(1) generated on dated 27/07/17. I am unable to submit my response as e- proceeding portal/box on website says " I have already submitted a revised return". I made savings under chapter vi A to its limits in the month of March 2017, which does not reflect in form 16.Now how can I file my response regarding mismatch of savings when I am unable to disagree with notice 143(1). Further I qualify for refund of Rs 35000. Will there be automatic adjustment if AO consider my revised return as a response to notice u/s 143(1) ; though I have not agreed or disagreed to calculations shown in notice. How to proceed. Please guide.
Thanks