In one of our case there is a loss in partnership firm after giving remuneration , and at per deed it is mentioned that "the above partners shall not be entitled to draw any remunertion in the accounting year period in which the partnership firm has sufferred loss on the basis of the book profit as computed under the provisions of the Income tax Act, 1961". Can we give remuneration upto the limit there is no loss in Profit and Loss account or we can not give any remuneration.
I.e Loss is Rs 111623.00
Add Remuneration Rs 144000.00
Book Profit Rs 32377.00

Can we give Remuneration upto Rs 32377/-

Facts:
1) Vendor supplies goods worth more than Rs.1 Lakh (within Maharashtra) invoice value
2) Vendor does not generate E Way Bill (EWB)
3) Vendor issues proper Tax Invoice to buyer
Query:
a) If vendor fails to generate EWB, is buyer liable to generate EWB for goods he has bought?

b) If answer to query "a" above is yes and buyer does not generate EWB, can a buyer avail GST input credit though vendor defaulted in generating EWB?

OR

c) If buyer is not liable to generate EWB because vendor fails to do so, can buyer avail GST input credit though vendor defaulted in generating EWB?

As a part of sales promotion, our seller is allowing the discount of 5% on the previous month's invoices and they filed the credit note in the GSTR 1 of this month. We have the following doubts in this regard.
1. Whether we have to issue a debit note for the discount received?
2. Whether we have to include the values of Debit Notes in HSN wise summary report in GSTR 1?
3. If we are showing discounts received on the credit side of the Profit and Loss account, then whether we have to pay any GST on the same?
4. In which head in GSTR 3B we have to include the value of the debit notes?

Dear Sir/Madam
What entry can be passed if Employee contributes to Provident Fund From his salary and also employer contributing pf in that account? ( in the books of EmployEE)
and also suggest which amount can be shown as receivable in the balance sheet( means the total of employee-employer contribution or else only employee contribution?)

For the year 2018 the Closing balance of Fixed assets are not matching with Opening balance of Fixed asset year 2019. Similarly balance in Accumulated depreciation account balance are also not tallying.
What are steps to take to resolve this issue?

I am an Tenant (Individual under INCOME TAX ACT) paying rent of exactly Rs.50,000/- per month. As Sec.194IB makes it mandatory for tenants to withhold taxes on rental payments, over and above Rs.50,000/- p.m., am I still required to deduct TDS @ 5% for F.Y. 2019-2020?

Our Hospital is under a Educational Trust which have a 12AA Exemption from income tax department.
now our question is ?
1. if we make pharmacy under Trust pan no. then we can got examption u/s 12aa on pharmacy profit
2. Can we claim ITC of Medicine bills full or proportionately under Gst Act.
please give your correct and prompt advised.
thanks

Hello

Our client company has long term capital gain of say Rs 50,000 after grandfathering benefit. LTCG upto 1 lakh is exempt from tax. While filing ITR 6, we found that after filing sheet 112A - Script wise disclosure, Capital gain appears in Gross total income. It appears as capital gain chargeable to tax at special rate in CG sheet as well as Total Income sheet affecting our gross total income. Thereafter, while calculating tax at special rate, ITR mentions it as ZERO. 

My question is that LTCG  below 1 lakh forms part of Gross total income ? if not, shall we not suppose to disclose capital gain below 1 lakh in CG schedule ? kindly clarify. 

hello sir/madam,

i have a clients they want thier interior works to be done like, kitchen, wardrobe, furniture and fall ceiling in thier own house.

at same time i have carpenters friends who can do this job..

my role is i get advance from my clients,buy materials,and hire carpenter and finish the job..
so i have to issue a invoice to my client . with out disclosing my expenses in materials, amount paid to hired carpenter..
so in what category in cum under SAC and how can i register my self in gst

Please advise on the process for application for Fellowship