Dear Sir,
There is a retirement of partner on 18/08/2020. How to deal with it. Do we have to prepare Profit or Loss Account and Balance Sheet or Can We prepare it on March 2021. As the firm is running in loss since 2017-18 till 2019-20 and the loss is Approx Rs 55 Lacs and in the Currrent year the Profit is Rs 29.50 Lacs for the F/y 2020-21. How To Charge Depreciation will we have to charge on proportionate basis while preparing 18/08/2020 Profit and loss Account or it will be charged only on March 2021 closing.

Dear Experts,

I have make the payment of GST liability on 20.01.2022 for Dec-21 GST Return. Payment reflected on GST port on same date but some reasons I have enable to submit and filed the GST return for Dec month.

Still interest is applicable for late filed GST return?

Thanks

the company has land and sold at profit of Rs 100 lakhs and after sale of this asset, no asset exits in block of assets.
how to account this in Profit and loss account
Is it Extradinary or Exceptional Item in PL a/c
how to transfer this to capital reserve and is it through PL a/c
kindly give your opinion experts

Hi,
I applied for LLP Closure for my client via strick off.
I submitted all docs and attach to form.
However, I got email for resubmission with docs.
Below is remark:
A statement of accounts as per prescribed format disclosing Nil assets and Nil liabilities [sub-clause (a) of clause
(II) of sub-rule (1A) to rule 37] not more than thirty days before the date of application and certified by a
Chartered Accountant to be submitted. - I attached.
Affidavit signed by designated partners [sub-section (b) of clause(II) of
sub-rule(1a) to Rule 37] to be furnished. - Attached.
Income Tax Return - Attached
Proof of closure of Bank A/c, Consent of creditors, - I did not attach as no bank account was opened and I mentioned it on affidavit. There is no creditor.
Resolution for strike off and Indemnity Bond to be furnished. - Attached.

Can anyone guide me whom to contact in this manner?
I called MCA but the lady on the other side told me that She could not tell exactly what was the issue.

How can I know the exact issue?

Respected Sir,
(A) I have output GST liability as IGST - 20000 CGST - 4000 SGST - 4000
I have credit ledger (ITC) as IGST - 22000, CGST - 1000SGST -1000
I have cash credit as IGST - 1000 CGST - 500 SGST -1300
can I offset IGST liability by using 1000 cash credit, so 20000-1000 -19000. So credit balance available as IGST is 3000, which I will utilise to offset CGST and SGST liability
CGST - 4000-1000-500-2500 (from IGST credit balance)
SGST - 4000-1000-1300-500 (from IGST credit balance) so tax to be paid is only SGST - 1200
Is this correct as shown in (A) or
(B)
I have to first offset IGST only by IGST credit balance only and till such time I can not use cash IGST balnce to offset IGST liability and hence IGST credit balance cannot be used to offset CGST and SGST liability.
Please guide.

Hi,
My name is Dinesh, I'm Direct entry student, My Articleship completed on 3rd January 2022, I have extension of 13 month I'm served extension in another principale but after 1 year, can I do so,
Which form require to be file
In exam form which option choose 1. Direct entry student 2. Compeltetion of Articleship

Difference in book and 26 AS. The Income as per Books is 2500000 and Income show in 26 AS is 2850000 . If I filled my IT return as per Books then my return is defective or not. Please suggest the option available for me

Hello All
Sir I want to know about TDS of contractor threshold limit..
My client is the owner of floor in a building.. he gave to one contractor the total contract of say 60 lac to rebuild his floor.. if he give the ready floor in say around 1.5 years then the TDS to be deposited by the owner can be ignored or not..
Threshold limit for TDS is 50 lac per year or what?
Regards

A charitable religious trust contracts with broadcasting agency for live telecasting of "katha" ? Is tds required to be deducted on payments made by trust to such agency ? since such contract does not amount to works contract ? Or is it required to deduct tax ?

Hi,

As per my understanding When Shares in Demat Account are sold, FIFO ( First in First Out ) method is considered for calculating period of holding & accordingly STCG Tax or LTCG Tax is applicable.

But if an individual has more than one demat account & has shares of same company in each demat account, how period of holding will be calculated ?

1-Will period of holding of Shares calculated demat account wise or

2-Will period of holding Calculated basis date of purchase, irrespective of demat account in which they are held

Please advise