Arun Kumar

What is the difference between accounts payable and sundry creditors and how their treatment done


PARAS CHHAJEDpro badge
15 September 2023 at 11:05

LAND SOLD PAYMENT NOT RECEIVED

A piece of diverted land was sold and sale deed was registered wherein it is mentioned that the payment will be made in three instalments and accordingly post dated cheques were issued . First instalment cheque was cleared and other two instalment cheques got bounced . Based on the registered sale deed the purchaser got his name entered in the land records

What remedies are available to the seller against the purchaser. Please guide. Thanks


Vikas Gupta
15 September 2023 at 10:56

Grossing up Indicator in Form 27Q

There is new column inserted "Grossing up indicator" in new TDS return template of Form 27Q for FY 2023-24. Please explain when to mark it "Yes" and when "No"?

Also, please explain whether we need to fill any such information while filing Form 15CB? Currently there is an option namely "In case the remittance is net of taxes, whether tax payable has been grossed up (Yes/No)". Is there any relation of this point to "Grossing up indicator" in Form 27Q.


Chandra Kala
14 September 2023 at 18:39

Deduction u/s 80P(2)(a)(i) of the IT Act

Cooperative society which are subject to audit as per Cooperative Act can submit return after 31/07/2023 to claim deduction u/s 80P(2)(a)(i) of the IT Act if Turnover is not subject to tax audit. Audit report of the cooperative Act cannot be uploaded for want of provision in IT portal.


CHANDRAKALA

Donations received by cash more than 2000/- from each person can be used for application of income otherwise taxable in the case of society registered u/s 12AB
Whether such receipt as a income which can be set of against expenditure by filing return of income in ITR-5


Sameer Kumar
14 September 2023 at 17:39

Income tax outstanding demand 23-23

I have filed a return on 31.07.2023 and e verify it on 12.09.2023 . It dept. Sent notice u/s 143(1) outstanding demand of rs 1000 sec 234f . Is it correct?


Vijai Bagaria
14 September 2023 at 17:11

Schedule IXD od BPT Act

Is it required to fill a form SCHEDULE IX-D, If the Trust doesn't have Registration No. u/s 12AA of Income Tax Act (43 of 1961)..??

Read more at: https://www.caclubindia.com/experts/details.asp?mod_id=2765349


jayesh khokhariya
14 September 2023 at 17:09

Interest to partner on capital

Interest on Capital to partner should authorize by partnership deed to pay interest to partner or we can pay @12% P.A. even if it is not mentioned in Partnership Deed.


Princee Chokhawala
14 September 2023 at 16:45

Transfer in 3 year of articleship

I am in third year of articleship and i am on exam leave as my exam is due in Nov 23 and my principle want to surrender it's COP.


CA Sunil Kumar CS

A private limited company formed on 1st sept 2022. Total authorised capital is 10 lakhs and subscribed capital is 10 lakhs. Out of which 5 lakhs was received before March 31st 2023. But 5 lakhs received on 1st jully 2023 and for 20A filed accordingly. How to treat this situation in balance sheet of 2023





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