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I have filed my return for fy 2021-22 original with some mistake ( salaried ) and immediatly i have revised the return for the said finanacial year and it has been processed. now i have received the intimation as defective for original return but revised return is processed.
what would be the status of original return whether revised return will stand or should i have to correct the original return once again
After processing revised return i everifed original return and later i have received this intimation

while trying to file form 3 of LLP filing. The form is not getting loaded. Anybody faced the same issue and have any solutions?

27a. Amount of Central Value Added Tax Credits/ Input Tax Credit(ITC) availed of or utilised during the previous year and its treatment in profit and loss account and treatment of outstanding Central Value Added Tax Credits/Input Tax Credit(ITC) in accounts.

Does this required to be reported ? any legal backing from cbdt on this ?

Dear Mates,

We are a travel company located in Delhi Janakpuri. We want to buy a Pvt Ltd company with very nominal charges. Company Should be at-least 10 Year old includes with complete filling and paper. We are looking for an priorities basis. Please do call for further discussion +919581100035.

I have 2 cars in my assets first one is Maruti having WDV of Rs. 315830 and and second one is TATA having WDV of Rs. 531128. In current year i have sold my TATA car in January month and received sales consideration of Rs. 487434.
What's the proper treatment in this case in books of accounts and in income tax.

Dear Sir/Mam,

CASE I – Relating to Income Tax
A assessee commenced a trading business in the F.Y. 2018-19.The assessee for the 1st P.Y. 2018-19 opted for section 44AD(1) now as per section 44AD(4) he is required to opt for the section 44AD(1) for the next 5 P.Y. i.e. from P.Y. 2019-20 to P.Y. 2023-24 failing which in any of the P.Y. 2019-20 to P.Y. 2023-24 he will be required to get his books of accounts audited for the next 5 P.Y. subsequent to the P.Y. in which he first time opts out from the section 44AD(1).
The assessee again opts for section 44AD(1) for the P.Y. 2019-20.
However in the P.Y. 2020-21 his turnover was 82,17,031/- and decided to declare profit less than 8% i.e. in contradiction of section 44AD(1) thus section 44AD(4) and (5) got activated and the assessee got his books of accounts audited u/s 44AB(e) for the P.Y. 2020-21 and by virtue of section 44AD(4) and if his total income exceeds the maximum amount which is not chargeable to income tax as per sec 44AD(5) now he is required to get his accounts audited for the next 5 P.Y. i.e. from the P.Y. 2021-22 to P.Y. 2025-26.
Question 1 - In P.Y. 2021-22 the turnover of the assessee is Rs. 1,11,89,019 and his total income exceeds the maximum amount which is not chargeable to income tax. So in the Tax Audit Form 3CD under Clause 8 which section is to be chosen as a section which triggers audit of the books of accounts of the assessee for the P.Y. 2021-22 –
Option A - Section 44AB(a) - As the turnover of the assessee for the P.Y. 2021-22 exceeds the tax audit limit of Rs. 1 Crore.
OR
Option B - Section 44AB(e) - As in the P.Y. 2020-21 the assesse opts out from section 44AD(1) which created the liability upon the assesse to get his books of accounts audited for the next 5 P.Y. from P.Y. 2021-22 to P.Y. 2025-26

Question 2 – For the P.Y. 2022-23 it is estimated that the turnover will be less than 1 crore but the total income of the assesse will be more than the maximum amount which is not chargeable to tax. Whether for the P.Y. 2022-23 the assessee will be required to get his books of accounts audited? If, yes than which section should be selected in the clause 8 of the Tax Audit Form 3CD for the P.Y. 2022-23?

CASE-II – Relating to GST
Question 1 – Whether under GST RCM is applicable for renting of commercial property for Commercial use where the service provider is not registered under GST and the service recipient is registered entity under GST for the F.Y. 2021-22?

Regards,
Shruti Agarwal

I have an income from a let out house property on which I am climbing depreciation in my books.

My question is while calculating income tax is standard deduction @30% under section 24 allowed?

Can I claim the benifit of both depreciation and std. deduction on the same.

Or shall I've to cease depreciation.

We have a partnership firm having a turnover of less than Rs 1 lakhs and a Net loss of Rs 10000 for the FY 2021-22.

Whether Tax Audit required or not?

If a partnership firm incorporated on 01/10/2021 and turnover for F/Y 2021-22 is 85 lac and net profit after Interest to partner and remuneration is 4.50 lacs (< 6/8% of turnover) whether he can file ITR by filling complete Balance and profit & loss account or tax audit u/s 44AB is require for F.Y. 2021-22.