Two Partners A & B Profit Sharing Ration 50%- 50%
Rate at interest 12%

A Capital Bought IN 600000/- Withdrawal 80500/-

1.5.19 Capital Bought-150000/-
5.6.19 Capital Bought-100000/-
16.6.19 Withdrawal- 7500/-
19.7.19 Withdrawal- 7500/-
1.8.19 Capatila Bough- 50000/-
15.8.19 withdrawal- 7500/-
15.9.19 withdrawal- 7500/-
15.9.19 Capital Bough- 50000/-
15.10.19 Withdrawal- 7500/-
10.11.19Capital Bough-50000/-
12.11.19withdrawal -7500/-
1.12.19Capital Bough- 50000/-
15.12.19Withdrawal- 7500/-
1.1.20 Capital Bough - 150000/-
18.1.20 Withdrawal 9000/-
11.2.20 Withdrawal 9000/-
15.3.20 Withdrawal 10000/-
Interest Partner Capital Calculation ?

Respected Experts,

We are manufacturer and file GSTR-1 & GSTR 3B on monthly basis. Presently, we are very confused that what will be the basis of ITC. Let suppose our total ITC in books in Dec-20 is around 22 Lacs.
GSTR-2B shows around 18 lacs, in which some traders have not filed their GSTR-1. So how many ITC we can claim?

Also, guide us we have to file our GSTR 3B on 2B basis or 2A basis, if 2B basis, what will be the roll of GSTR 2A in presently scenario.

Kindly guide me.

Rakesh Sharma

If i complete bcom 31 may 2021 then all step by step procedure of ca

HOW CAN I GET FMV AS ON 2001 TO CALCULATE CAPITAL GAIN TAX. OR PROPERTY READY RECKNOR RATE FOR A PARTICULAR PROPERTY.

Financial statements were finalised and uploaded with Tax Audit Report. There has been an error in the value of closing stock. What recourse is available for correction of the same. Can one revise the profit and loss account and balance sheet and tax audit report ? Please guide. Thanks

One of my client is registered under gst and main business is food supply, for this he is under 5% slab, collecting gst from customers and remitting.

Is he eligible to claim ITC on carry bags, which he uses it for packing the food.

Note: The supplier charges 18% GST on carry bags.


Please clarify with link.

I HAVE ONE QUREY IN TDS RETURN PLEASE HELP TO SOLVE IT I MADE A PAYMENT TO PARTY AFTER DEDUCTING 1% TDS FROM HIS BILL AMOUNT AND PAID TO I TAX BUT LATER I COME TO KNOW THAT INSTEAD OF 2% I DEDUCT 1% TDS THEN I PAY BALANCE 1% TDS WITH SEPARATE CHALLANS NOW HOW I MENTION CHALLAN SERIAL NO IN TDS RETURN IN LINE OF PARTY PAYMENT DEDUCTEE SHEET THERE IS 2 SR NOS IN CHALLAN SHEET IE 2 & 4 PLEASE LET ME KNOW

Hi,

I need help in filing reply to service tax show cause cum demand notice received for FY 2015-16. I hve all the documents ready from FY2015-16 to June 2017. Need to find a reply in proper format.

Looking for expert in south Mumbai.

A section 8 company was formed in FY 2019-20. Donations received ( Under CSR) from other entity Rs. 15 lakhs. Company Spent as per object clause Rs. 7 lakhs during FY 2019.20. Company had agreed (in FY 2019-20) to other charitable trust to give donation of Rs. 4 lakhs which was paid in FY 2020.21. The company is not registered u/s 12AA hence exemption u/s 11 is not available. ITR6 need to be filed.
Query 1. - Can the company make provision for the said agreed donation of Rs. 4 lakhs.
Query 2. - Whether the income to be shown as Income from Business or Profession?
Query 3. - Can the company opt for 115BAA i.e. 22% tax?

Which of following be the correct procedure
A) I show credit note and debit note in gstr1 and then in next return of March, it will automatically show reduced/increased sales and corresponding tax and ITC. I don't do anything in GSTR3B
Or
B) I give credit note and debit note effect in sales amount and tax amount and ITC amount in gstr3b- but which column I don't know - please guide
And show in GSTR1.
OR any other procedure which is correct
Request for your guidance.
Regards,