Accounts QnA - Page No 629

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Sanjay Budhiraja

06 December 2023 at 21:58

Entry journal

Sir
Pl tell the journal entry of buy back of shares by co in books of investor...
Is this buyback considered as taxable or not.
Regards

k chakraborty

06 December 2023 at 20:28

In case my partnership firm is dissolved through deed, at the time of sending notice of discontinued business to the A.O(under sec.176) do i need to surrender PAN too? If yes, how will i get refund of TDS (given Bank account would need PAN) after filing return for the period ? If no, when i will need to surrender the PAN?

Mohd Muneef

06 December 2023 at 19:47

GSTR 1 filing late

Hello, GSTR 1 for one Qr in 2018-19 could not be filed. Is it possible to file now. How much late fee and penalty to pay. Experts opinions sought. Thanks

Venkateshwarlu Pulluri

12 December 2023 at 14:34

Outward tax liability paid by reducing the ITC on inward, by one of my client, is it acceptable

one of my client outward tax liability of October-2017 paid by way of reducing the ITC on inward supplies in August-2018, to the extent of liability is it acceptable, if yes, kindly inform the supporting information

Daya

06 December 2023 at 18:14

Is term deposit come under cash and cash Equivalent

whether fixed deposit ( Term deposit) comes under cash and cash Equivalent under scheduled III ?

Marimuthu

06 December 2023 at 17:42

Section 50 and Section 54F

Dear Experts,

01. Could you please the difference Section 50 and Section 54F of the Income Tax Act, 1961.

sandeep

06 December 2023 at 16:12

Accounting policy for prepaid expenses

Hi All,
A Listed company has an accounting policy as follows.
"Expenses more than 1Cr are only considered as prepaid and amortized, all other expenses are charged to P&L."
Is this allowed ? If so, do we have a reference in any standard or guidance note ?

Ajay Kumar Gupta

06 December 2023 at 16:06

TDS on Purchase of Flat

I am filling form 26QB for TDS on sale of property. I am individual and purchased flat from Godrej (Company). While filling form 26QB it is automatic taking major head as 20 (Companies) instead of 21 (Other than companies). Please guide what to do.

Kollipara Sundaraiah

06 December 2023 at 15:55

Cash shortage f.y.23-24

Sir,
If a professional income it person account records up to date f.y.23-24. some dates cash shortage (nagative) show in books.
Question:
How the procedure source of cash generated (nagative) adjustment in books.

Nakshatra Shekhar

06 December 2023 at 14:34

Clarification w.r.t. interest paid to state excise department

Is interest or late fee paid to state excise department is an allowable expenditure u/s 37 of the Income Tax Act, 1961. If so, are there any relevant case laws in favour of the assessee.