Dear Sir,
My relative is doing Trading business for branded furniture & has manufacturing hub for local manufacturing also. I have some query as follows:
1. From time to time business requires new machinery for capital expenditure purpose.No depreciation benefit allowable as per Tax Computation filed by the CA.
2.Business has CC & OD limit in Bank. Interest charged by the Bank is showing as expenses in books of account whether it is right or not?
3.Business also has Motor vehicles like Car & Two wheeler. If Business want to purchase through financier the above motor vehicle whether interest charged by the Bank will be booked in Business or not?
4. Now a days Govt has introduced new start company with maximum benefit in Tax etc. Please answer whether Proprietorship can go for avail this or not?
5. Whether Udyog Aadhar will be benefited to business if I will apply for this & what are the benefits.
6. Also give me comparison chart between Proprietorship Business Vs LLP/OPC with merit & demerit with less paper work.

Also let me know whether propertioship firm can introduced capital from time to time for business expansion of his own source / relative / friend etc. What is the capping for this, Is there any condition or limitation linked with Turnover etc.

What is the drawing limit for the proprietorship firm with capping if any.Can proprietorship firm use business money towards Tax Savings purpose & other purpose.

We use to deduct TDS on payment made to a transporter which is a company. Transporter co. has various branches in india, one of our employee paid bilty amount without deducting TDS on it. Now the query is that the bilty is on the name of company and full amount without deduction of TDS has been paid by the employee related to november 20 month. Now he is claiming reimbursement of expenses he made.
please suggest TDS liability to us as we are also a limited company.

Sir
I want to know whether I can file revised return after 31.3.21 for AY 20-21. There is change in other sources income... My client received a enquiry under Ecompaign . He tried to file on 31.3.21 but site crashed.
Pl guide
Regards

SIR/MAM -

We are the Partnership firm, having the turn over below Rs.1 Cr., and had commenced our business in 2020-21.

We are hiring our 7 trucks to GTA Pvt Ltd Company.
Can we file ITR u/s 44 AD ?

If yes? Can show the profit as 6 % on receipts and payments?

Plz guide us
Thanks in adv

You have replied on 19 July 2016 that Facility to file time barred returns online are enabled by incometaxindiaefiling website on 15/07/2016, do file if you have such returns any...

Can u kindly tell me the procedure for the same

Dear Sir,
Greetings!

Our company's combined turnover of all the branches is 15-16 crore. Should we opt e-invoicing from 1st April 2021? Please advise.

Regards / Vijay

SIR-

1] Unabsorbed depreciation loss can be carried forwarded to the next financial years for set-off in case the IT Return filed in late for individual?

2] If TDS payables not paid in current year but to be paid in the next financial year by GTA PVT Company, the deductee can claim it in the next year?

(a) if the deductee is the director of that company?
(b) If the deductee is not the director of that company?


Plz guide us sir
thanks in adv

Dear Sir,
For partnerships firm for audit u/s.44AB profit above 8% shall include interest & remuneration to partners or not.
Thanks in advance

Sir/Madam
I am a professional having a proprietorship business for Financial year 2019-20 my professional income is Rs 738600. Profit from business profession is Rs 312000 ( which is less than 50% of professional income). Also have annual rent income 210000. Do I need a Tax Audit. Please mention income tax section applicable if possible.
Please guide
Thanks in advance

My Company is a online gaming company. So, we need to deduct TDS on the winnings amount exceeding Rs.10,000 u/s 194B. But the question is do we need to deduct TDS of the player according to per game basis or do we need to consider the limit of Rs.10000 aggregately irrespectively of the no. of games played. For e.g. Mr. A played a game conducted in April and won Rs.3000. Further he again played in September & Dec and won Rs.5000 & Rs.8000 respectively. Now do i need to deduct TDS in this case or not ??.
Please reply on this query .
My concern is no. of players play our game every day and keeping track of the aggregate amount of winnings earned by such no. of players will be a difficult task.