Dear team/expert,

Please refer to below example regarding ITC reversal.

Particulars June 2020 Oct 2020
Output tax 100 0
Input tax 200 20
Net liability -100 -20
Reversal of ITC 0 50
Net liability -100 30

(Sorry about the alignment. I am not able to create table format.
Particulars represents text, June 2020 output tax is 100 and that of Oct is 0. and so on.)

In the above example, Kindly tell me when i reverse ITC in Oct month, whether interest is calculated on 50 or 30 ? Also specify the Interest rate.

Hi,

Can anybody explain what is Risk Crystallisation?

Thanks in advance,

I need confirm that whether an application in Form 311 is necessary to file along with Form 310. Our assessment order is resulted into refund and we are going to appeal for higher refund. Please guide Form 311 is for stay of recovery.

Recently bank employees salary was revised and arrears paid for the period from November, 2017 to December, 2020. For those employees who retired after November, 2017 the PF balance in their credit was already repaid to the employees on retirement and PF account stands closed for them.
Now while paying salary arrears for the period from Nov 2017, PF was deducted from the arrears. Since there is no PF account for the retired employees now, Banks are refunding the PF now deducted to the employees. The question is whether this PF deduction made is eligible for exemption under 80CC of I-T. In this connection, please bear in mind that the PF deducted from the employees salary during the month of their retirement is also considered for exemption under 80cc i.e., the last months salary will be paid on the last day of the month which is also the date of retirement for the employee and the PF deducted on this last month's salary is also eligible for 80 cc.
Please guide me.

While prscruitinising form AOC-4, Im getting pop up like "You have earlier pre-scrutinized Form MGT-7. Do you wish to proceed? In case if you select ‘Yes’, all the earlier pre-scrutinized forms shall be nullified." How to proceed further..

Dear Expert, As per latest ICAI guidelines, is UDIN mandatory for Concurrent Audit reports issued Month-wise?
If required, is it to be generated month-wise or as it is for a specific period, say 1year, for the whole period of 1year, can UDIN be generated once?

Waiting for your experts opinion.

I have one private limited company registered in 2015 for sale and also certified as a startup by DIPP.

Regards
Harmeet

On which address the request letter to be sent to ICAI for permission of articleship transfer

Dear Sir,
We Have register 7 state in gst however our turnover in delhi is 6Cr & other state have nill in FY 17-18 we have file GSTR9 & 9C for only Delhi state and other state we have not filed due to not knowledge about this please tell is there penalty of this or not and if penalty please tell me how much is this please help sir

I have received assessment order for AY 20-21 with a refund on 4th December 2020 but refund was not credited in my account. When I check I notice I have entered wrong account number. I have also checked in NSDL portal it shows refund failed . When I tried refund reissue request in Incometaxefilling portal it shown No refund failure.
I have Prevalidated my account number in Income tax portal.
When I may use refund reissue request ?