How to rectify It.
In GST Returns 3B shown more Cash Paid Instead of actual paid and also wrongly availed GST Input and Utilized , These are regular basis Mistake, Mistake in GSTR-3 B November 22 Onwards to May 2023. How to rectify it.
My Mother in Law gifted me 10 shares of TCS on 30/05/2022. what journal entries has to be made to record the this transaction in both our books . Please also let me know what entries to be passed in tally for the same in both our books of account.
Dear Sir,
Any addition in revenue done by Income Tax department under search, whether on that addition GST is required to be paid or not? If yes, whether interest and penalty also attracts to the same? Please provide specific case judgment, if any, already passed by department.
As per Schedule BP
2a.Net Profit or Loss from speculative business included in 1(enter –ve sign in case of loss)
[Sl.no 12b of Trading account + Sl.no 65iv of Schedule P&L]
No account cases is not applicable
Hence the alternative is to enter the loss under trading account. If I enter the same , the amount is not being carried forward to the P & L creating an error message that 13+14 is not equal to 15
Please suggest remedy
Sir,
Professional income sec 44ab tax audit it returns filed person sms received from mobile f.y.22-23
Name :xxxxcccccc pan:no.vvvvbbbb income tax department has issued a notice/letter for a.y 24-25 under section NA . kindly submit online response in case of notice by login it portal.
Question:
Assessess reply procedure
We have, during the year 2022-23, on 29.10.2022 TDS paid an amount of Rs.1,44,243/- Through 194LA Challan issued by M/s. Karnataka Bank Limited . In this process we have erroneously mentioned the TAN number instead of the PAN number.
Payment of TDS in 194LA instead of 26QB Purchase of Immovable Property. How to Rectify.
Can 80U deduction is allowed after getting deduction of 1.5 lac u/s 80C and 50K u/s 80D ?
Sir,
A doctor professional fees income received from a private hospital working in monthly basic total fees income rs:50 lacs above f.y.22-23.
Question:
Assessess tax audit it returns filed what expenses show in it returns
AS A NRE I INVESTED USD 10,000 IN AN INVESTMENT PRODUCT ON 22 JAN 2018. I RETURNED TO INDIA ON 22 JAN 2019. FOR FY2018-2019 I FILED MY IT RETURN AS A NRE; AND FOR FY2019-2020 & FY2020-2021 I FILED MY IT RETURNS AS 'RESIDENT NOT ORDINARY RESIDENT' I.E. RNOR STATUS. FOR FY2021-2022 I FILED MY IT RETURN AS A RESIDENT. DURING ALL THESE PERIODS I HAVE DISCLOSED THE INVESTMENT AS A FOREIGN ASSET IN MY IT RETURNS.
THE INVESTMENT WAS REDEEMED ON 22 AUGUST 2022 AND THE SALE PROCEEDS OF USD 11,700 CONVERTED AT 78.09 I.E. RS. 9,13,653 WAS RECEIVED IN MY RESIDENT ACCOUNT IN RS.
ON 1ST APRIL 2021 WHEN MY TAX STATUS CHANGED TO RESIDENT FROM RNOR THE INVESTMENT VALUE WAS USD 12,320; WHICH WHEN CONVERTED AT TT BUYING RATE OF 72.5 STOOD AT RS. 8,93,200.
AS CAN BE SEEN FROM ABOVE THERE IS A USD FALL IN VALUE OF INVESTMENT WHEN COMPARED TO THE VALUE AT THE START OF FILING AS A RESIDENT I.E. 12,320 LESS 11,700 I.E. USD 620; AND AT THE SAME TIME THERE IS AN EXCHANGE GAIN ELEMENT ALSO WITH THE RATE GOING UP FROM 72.50 TO 78.09.
APPRECIATE THE APPROPRIATE TAX TREATMENT ADVISE ON THE ABOVE FOR FY2022-2023.
Certification Course on GSTR-3B Reconciliation with GSTR-2B through AI Tools
Relief U/S 89 - For Gratuity