FACTS OF CASE TURNOVER OF FNO TRADING=12.00 LACS
ACTUAL PROFIT =00.20 LACS
CAN WE DECLARE A PROFIT OF 8% UNDER 44AD TO AVOID AUDIT AS THE ASSESSEE HAS NO OTHER INCOME.
GSTR2>Table13>hsnsummary We add only taxable HSN summery or exmpeted and nil rated also?
Answer nowSir,I am a registered electrical works contractor and I have executed electrical work .Now while raising invoice ,I am not quite sure what will be the tax rate that I shall charge in the invoice where labour charge is also included.I think it will be 12% .Even though labour service is involved ,it fall under composite supply and principal supply is execution of works contract.what is ur view?
Answer nowI onLy have my pan card no so how can I get my pancard card soft copy
Answer nowRespected Sir/Madam,
PDF Files for suggested answers is not opening for all the attempts on ICAI website.
If anyone has Past 5 years of suggested answers for CA Final Group 1st, Please give me in pdf format.
I am having MS Office 2010 on my laptop.
Thanks
On voluntary retirement fro bank in 2000, I invested the retirement benefits in my two daughters and in my wife's name in mutual funds,
The ITO ordered me to club the income out of the income from the investments made in my wife's name and pay the tax with interest. I did.
He also advised me to to file returns thereafter clubbing of my wife's income with mine as she is not having any source of independent income.
I file returns accordingly thereafter. Of late my wife is receiving notices that she has not filed IT returns. When informed that her income is clubbed with that of mine and IT returns submitted by me clubbing her income, ITO says that notice under Sec 143 issued and that she is file nil return at least to close the case. I did. Now he advises me to file IT returns separately in future. Please guide me as to how to proceed in future
Some CA and tax consultant say that if you withdraw cash more than 50 lakhs during the year from bank, I. T. department issue scrootiny for this
Answer nowI am having Nil Return in July Period. I have filled GSTR 3B , GSTR 1 , GSTR 2 . but not able to file GSTR 3 . Please Help.
5 Days Passed from GSTR 2 Filling Date .
An assessee who comes under tax audit as per section 44 AB has not shown his assets which was purchased in previous AY in the accounts and so not claimed depreciation. This year he wants to show those assets under purview of the income tax act and wants to claim depreciation in order to reduce tax. Now the form 3CD asks for date of purchase for addition if he tries to show his assets as addition in this AY. How can he deal in this situation?
Answer nowCan an assessee having two proprietary concerns appoint two seperate auditors for each concern and can both the auditors upload two seperate audit reports on the Income tax site.
Answer now
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Section 44ad