How to record previous year unrecorded loan to liability to balance sheet & its repayment by a firm

1) Assessee is an resident individual
2) He has 2 businesses and 1 profession, income from which is offered as Income from Business / Profession
3) He owns 4 residential houses
4) 3 houses are let out; either for full or part of the year
5) 4th hosue is self-occupied
6) All 4 houses are shown as Fixed Assets in Balance Sheet
7) Rent from let out houses is offered as Income from House Property

Query:
a) Can assesse claim depreciation in P&L account of Business / Profession?

1) Export is under Letter of Undertaking without payment of IGST
2) Export invoice includes:
a) taxable value of goods(separately)
b) CIF amount (charged and shown separately in export invoice)

Query:
I read somewhere that in case of CIF export, amount of CIF charges forms part of value of goods and export of goods becomes composite supply.
As per my understanding, (1) as export is under LUT (without payment of IGST) and (2) CIF charges (though charged and shown separately in export invoice) form part of taxable value (as it becomes composite supply), GST is not payable on CIF charges.

Kindly advise whether my understanding is correct. If it is not, kindly guide.

HI,
We have done Material to Nepal and some services (Testing Services in India) but billed to Nepal Company, As per Nepal Laws , 15% TDS was deducted on the Service billing and TDS certificate was provided to us, Please clarify how do we use this certificate in our tax adjustments, and when it will shown in our books.

thanks

My client is death, now I am filing their Tax Audit report through legal hair login. I am done all submission of legal hair as a representative person of deceased person and same documents are summited and also accepted by officer. Now I have problem, when I filing Audit report login through legal hair, at the time of submission the message shows that ( The deceased assessee's PAN in IT website does not match with the deceased Assessee's PAn mentined in Homepage of current Tax file). The PAN is same mentioned in Home page.
Anybody can file these type of return, please help me.

hello everyone

i am a kurti wholesaler registered in rajasthan under gst.

i want to sell handmade choclates under the same gst via amazon.


can i do it.if yes what sort of amendment am i required to make in gst portal. and how?

kindly reply its urgent

thanks in advance.

The assessee has 1 normal business(profit 7 lac) and other is trading in share (speculative loss 55000). His both business are subject to audit.I have filed audit report by combining both businesses profit and loss account and balance sheet. When I am filing ITR the profit of normal business is getting set off by speculative loss which is not allowed as per income tax act. Now I have separated business profit from speculative business in ITR. But now error showing that profit are not equal to profits shown in audit report.and you will get notice from department. My query is how to report speculative loss in ITR which is subject to audit-- 1. When I combine both business- profit get set off. 2. When I separate it ,it shows -difference in reported value in audit report and ITR. Please suggest how to solve the issue.

Residential property is sold in Dec 2021. The entire capital gain (say Rs. 1cr) is proposed to be invested in an apartment in a new residential multi-story building that is under construction by a commercial builder. Say the apartment price is Rs. 3cr.

Under construction linked plan, Rs. 1cr has to be paid immediately. The remaining payment follows the construction schedule. Actual possession is after 3 years, although builders are known to delay projects.

The question is - since the entire capital gain of Rs. 1cr has been invested in an under construction property within the allowable time of 3 years, but the remaining payments and possession is likely to take place beyond 3 years from the sale of the old property, does this qualify for exemption under section 54?

MY 10 % GST REFUND IS PENDING , IS IT DUE TO NON SUBMISSTION OF PMT 03 AND HOW TO FILE IT BECAUSE NOT FLLING OF APPEAL BUTTON IS INACTIVE

Sir,
A person cash loans to debtors balances as on Dt:01-04-21 show in books value rs:10 lacs.
Dt:20-05-21 cash paid (through on bank) rs:5 lacs
Dt:19-08-21 cash from debtors (through on bank mode) rs:3 lacs.
Debtors balances as on dt:31-12-21 rs:12 lacs
Question:
Assessess interest calculate on closing balance amount or transactions wise correct procedure.