C.M.JAYSINGH
13 August 2023 at 23:42

Pesonal Account Examples

Could you give me the Personal Account Examples?


Athira
13 August 2023 at 22:30

Direct Tax itr

Actually I have filled my income tax and income tax department processed the same. Now I received a message saying my CRN expired. I did not generate multiple challan and my itr already processed so what does it mean


Rachana Gokhale

Dear Sir/ Madam,
How can I reverse the GST wrongly charged in an Invoice raised for FREE Sample.
This commodity was also received FREE and no ITC was availed on it.


Guest
13 August 2023 at 14:53

F&O.........

As F&O is normal business, there are 2 options. One is presumptive taxation and the other one is to show books.

PRESUMPTIVE TAXATION:

FUTURES:
Absolute profit and loss is the turnover for Futures trading i.e let's say we earned profit of Rs. 100 in one trading and suffered loss of Rs. 100 in another one. So, turnover will be Rs. 200

OPTIONS:
For loss transactions in Options, Turnover = Absolute loss + Sale Value. So, turnover will be buy value.

FIRST DIFFICULTY comes with calculation of turnover for profit transactions in Options. Trading platforms like Groww, Angel One etc.. suggest Turnover = Profit + Sale Value. But Tax Guru suggests Turnover = Profit value. So, which is the correct one?.

SHOWING BOOKS:
Even if I have suffered losses, I have to show a minimum of 6 percent profit under presumptive taxation. To carry forward losses, there is no other option other than to show books. But how is it possible practically? To show such a huge turnover as discussed in presumptive taxation and to arrive at a negative figure. CORRECT ME IF I AM WRONG.


HIMANSHU


A has purchased tenancy rights from B by buying on ownership basis a flat for B in the year 2000. Thereafter tenancy was transferred by Landlord in the name of A. The Landlord redeveloped the said property and gave a flat to A in the new building by executing in the Permanent Alternate Accommodation in lieu of his A surrendering his tenancy rights. The said Agreement was executed and registered in Oct 2001. At Present A is in the process of selling the said flat.

Query?

What will be the cost of acquisition of the Alternate flat given to A?

a. The cost incurred for purchasing flat for B.
b. Market value/Stamp duty value of new flat given to A in Oct 2001.

Kindly advise.
Thanks


Debashish Sen Gupta
12 August 2023 at 22:20

Commission agreement

Please suggest a way where if I act as a broker for a sale of items by bringing seller n buyer together and helping them in finalizing a deal with a price negotiated by me. In all such cases I am entitled for a commission which is the difference between the seller price and the price I actually sold to the buyer. How I make a full proof agreement that my hard-earned commission is received in full after the actual sale? Kindly suggest a way and best practice including an agreement which can be used by me. Thanks


Akhila.s
12 August 2023 at 20:08

Tax on cricketers and bcci

can anyone explain me the complete income tax provision relating to tax on indian cricket and bcci. if possible find refer me the books i need to touch down for the same


preetkataria
12 August 2023 at 17:20

E INVOICE GENERATION ON TAN BASED GSTIN

HOW CAN I GENERATE E INVOICE OF TAN BASED GSTIN


Ramann Yerramilli
12 August 2023 at 15:57

Stone quary

FORMAT OF FINAL ACCOUNTS


Chandra Kala
12 August 2023 at 15:43

ITR-7 for the Assessment Year 2023-2024

While filing ITR-7 we received advance from members and expenses paid from advances.
In ITR-7- Revenu income is nil and expenses paid some amount. shall i will ITR-7. Is there any defective letter from department





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