I have avail 2 term loan Rs 60 lakhs on 13.5% ROI and Rs 140 lakhs on 12% ROI and moratorium period for both loan is till Dec 2019 and till Mar 2019 they have released Rs 170 lakhs. Due to CAA movement and economic slowdown specially last quarter of 2019 I was unable to pay Rs. 14,15,398. Now from Jan 2020 EMI supposed to start but as they did not release my full amount and due to CAA, economic slowdown and COVID-19 my unit could not run and became NPA. In my sanction letter it is clearly written that 2% additional panel interest above normal interest rate, 1% loan processing fees and 3% pre-payment penalty charges. After repetitive request to restructure my MSME unit they rejected the proposal and the calculated Rs. 1,09,35,530 as Interest default till Sept 2022. As per calculation which I searched in online EMI calculator is supposed to be Rs 75,69,658 including interest default of Rs 14,15,398 during moratorium period and calculating Rs 60 lakhs @15.5% & Rs 110 Lakhs @ 14% with 2% additional penal interest including COVID-19 period and after NPA declaration. Kindly guide if this calculation is correct.

Dear Sir,
I'm working in Pvt Ltd company located in Mumbai. we are looking to renting out Business Centers in 7-8 key cities across the country.
In most of the cities we will rent out 1 or 2 desks where our Sales representative will sit.

Please note that all our services (Research, Fund accounting, Servicing, Payroll processing etc.) are centralized from Mumbai.

The Business Center will only be used for a Salesperson who is based in that city & will have to use it as office space when he isn’t meeting clients.

Given this background,
1. Do we need to register these single desks hired space for the purpose of GST?
2. Also do we need to register under Profession Tax Authority of respective states?

Regards

I have lost my original PAN Card. What is/are the procedures to get another PAN card from the Income Tax Department ? I want to apply offline / physically through NSDL - TIN Facilitation Centres. Please help.

Best regards

Hi,

will company put the gratuity and PF amount in Form 16 when they give it after retirement?
if yes then how it will be excluded from income tax.

Thanks.

While considering the value of Raw materials for valuation in Both Balance sheet and Profit and Loss a/c, should we considered absorbing the Freight inward in the av rate of inventory.
This freight inward has been already shown in Direct expenses as freight charges should it be considered in av rate of inventory also?

This doubt arose because conceptually thinking even though we need all cost of procuring the asset in the cost of goods sold, it's effect has been already happened in the corresponding period in which the raw material is bought right?

DEAR SIR , CAN YOU PLEASE PROVIDE FORMAT OF SELF INVOICE FOR RCM-RENT.
I SHALL BE GRATEFUL.

Hi sir Please provide LAW Firm Business objects For LLP Agreement

Trust registered under 10AC as per finance act 2020 is for which permission is granted up to A.Y.2024-2025 being registered provisionally which is again required for re registration.

Mr X sold his house for 40 lakhs
after indexation (long term) he got 26 lakhs as capital gain
he wants to invest in new house
New house value 60 lakhs
bank agreed to give loan 48 lakhs and he will use 12 lakhs from capital gain amount

is he now eligible for Section 54 deduction in capital gain because he is using 12 lakhs only out of his gain 26 lakhs???

Please help with DCCO extension guildelines with COVID extension with examples