Tax audit report for AY 2021.22 was submitted in Feb 2022. The provision of Rs. 7 lakhs was made for leave encashment as on 31.3.2021. In the said report the leave encashment Rs. 50000 paid between April 21 to Aug 21 was shown in clause 26 B (a) of 3CD under subclause a – “as paid on or before the due date for furnishing the return of income of the previous year under section 139(1)”. However while filing the return of income in Feb 22, the leave encashment Rs. 400000 paid in Sep 21 was also claimed u/s 43B on payment basis ( the due date of filing of return of income was extended for AY 21.22). Now this additional claim u/s 43B is disallowed while processing the return of income u/s 143(1) on the basis of mismatch between audit report and return of income. Can I revise the audit report to add 400000 in clause 26 B (a) of 3CD. I am doughtful because the wording in rule 6G clause 3 - is " The report of audit furnished under this rule may be revised by the person by getting revised report of audit from an accountant, duly signed and verified by such accountant, and furnish it before the end of the relevant assessment year for which the report pertains, if there is payment by such person after furnishing of report under sub-rule (1) and (2) which necessitates recalculation of disallowance under section 40 or section 43B.]"

Or alternatively will it be better to accept and pay the demand of tax made on the addition of mismatch of Rs. 400000 and claim it for AY 22.23. Will there be a risk of 270A?

Dear sir ,mam

I have Clamed Excess ITC fy-2021-22 can make payment in GSTR-9 or any other payment in next month or DRC-03 payment

please suggest me

Thanks in Advance

entered B2C supply in gstr1(september quater) instead of B2B supply, now can amend into B2B?
if yes how & when can do it?
regards

The revenue is booked over time and project is delayed, in such case LD will be applicable then what will be treatment of LD in calculation of factor for revenue recognition. Should LD be deducted from contract price or LD provision should be made without changing contract price.

A purchased a flat and added his wife B as joint owner (who has no income except some bank interest but still files IT returns).
A paid the total amount of 80 lacks from his bank account by draft to X the seller.
SHOULD A DEDUCT 80000 AND SUBMIT 26QB OR A and his wife B both should submit (two )26QB in the name of X.

What is the stamp duty rate on share purchase agreement in Maharashtra

Dear Experts
My client is under composition dealer with business is DAIRY. He sell milk, lassi, curd, and some Namkeen also.
Now, my question is which turnover consider for CMP-08, i.e. all or only Namkeen ? Please help me.

Hello,
I have been investing as an individual in Equities and paying LTCG/STCG at 10 and 15% respectively.
I'm exploring to build up my portfolio using borrowed funds that I understand could be expensed from profits made.

Which would be a tax efficient structure that would help me borrow funds and reduce or minimize the net income tax rate?

I have researched LLC and Pvt.Ltd structure wherein the tax rates are 30% and 27% including surcharge. Please guide and advise the ideal solution.

Thank you.
C.A

Hi,

We have received a Notice from GST department for excess ITC claimed in FY 2017-18,
Please help us how to close the notice
also share letter format if available

Thanks everyone in advance

Regards

Hii,
If a donor, donate the certain amt in ngo, is there any possibility that the ngo has to give them a tds certificate. If yes then how ngo will give tds certificate to donor, if no then how will donor get a tds reduction for itr filing