Sir,

I have sold goods @ 12% to a customer at Rs. 1000+GST(1120) prior to 18-07-2022. The same Goods was returned on 30-07-2022. But after 18-07-2022 the tax rate changes to 18%. Now as per law I have to take return of goods at Rs. 1180. How can I deal with the situation. Here, suppler have an credit of Rs. 60 on account of ITC (Tax paid Rs. 120- Tax on Return Rs. 180). Please reply Immediately Sir..

Dear All,
Assessee has intra day turn over 6819 and loss therein is Rs. 6/- minor loss only one transaction was done.

Whereas Professional Income exceed basis exemption limit...

I'm confused turnover is below 1 CR but speculative loss is Rs. 6/- total income exceed basis exemption limit... What to do of audit..... Pls suggest, how to show this speculative loss of Rs. 6/- without Audit also without further litigation.

Pls suggest urgently....

Thanks
Laxmi

Dear All

Please provide HRA exemption calculation for GOVT employees

Our Business turnover is up to 1.20 crore in F.y. 2021-22 and cash receipt & payment is less than 5%.
In ITR3 Audit Information what to select Yes / No.
Whether aggregate of all amounts received including amount
received for sales, turnover or gross receipts or on capital account
like capital contributions, loans etc. during the previous year, in
cash & non-a/c payee cheque/DD, does not exceed five per cent of said amount?

I lost 2 lakhs rupees in financial year 2020-21 in F&O trading and to carry forward the losses I filed ITR 3 in the previous year. in financial year 2021 - 22, I did not do any trading and my total income is 2,60,000 in fy 2021- 22 from rent, dividend and interest. Which ITR do I need to file ITR 1 or ITR 2 ?

what is TDS@% charge on SAC 998399 ? and the amount of bill if @2500/- we have only this one bill in this FY22-23

Dear Sir,

Some of the items/goods which were earlier exempt from GST became taxable starting 17 July 2022.

In this connection, please guide regarding following:
(1) We have unsold stock of FG (Finished Goods) which became taxable from 17 July 2022.

(2) We have also unused/un-consumed stock of "Inputs" which goes into making the FG mentioned in Point No. 1 above.

(3) Which input tax credit we can now avail in respect of the above 2 items (FG and Inputs)

(4) We are sure we can take input tax credit in respect of the unused input items (as they will be now used in making taxable products)

(5) We are not sure about the input tax credit for FG.

Thanks.

LLP is having sales of Rs.2.33 Crore
Cash expenses and receipts do not exceed 5% of total expenses and receipts
My question is whether this LLP os liable for tax audit ?

As per Our books purchase turnover is Rs.1.38 Crore but Income Tax AIS summary is Showing 1.49 Crore of purchase turnover. There is mismatch of purchase turnover amount. We have purchase the Machinery during the year and transferred machinery value to the fixed asset .
Does we require to submit feedback to income tax dept.

I am unable to login into ICITSS portal to download MCS certificate. Even after entering correct credentials for username & password is gives error as it is incorrect. Tried contacting & mailed the helpdesk but no revert from their end. What to do ?