Dear Sir,

Can we consider PAN number of House Owner's (Land Lord) wife for HRA exemption. Is that valid ?

Regards
Ratheesh

Sir,I amitava das e-filed itr 4 on 13/06/20 and itr-4 revised on 15/06/2020.Both were e-verified.On 02/12/200, in portal it was showing as 'return processing in Progress's in case of original return and showing 'e-verified in case of revised return.On 04/12/2020 suddenly my bank statement showed itd tax refund amount credited without any intimation.After submiting grievance on 16/01/21,an intimation came on 18/01/21 mentioning 'your itr intimation with no payment due'.While checking the intimation,all are correct except in 'balance tax payable/refundable;it is showing 0 in both collum'.But it should be as refund amount (because I paid more adv tax than tax determined)which I already got on 04/12/2020.What to do sir?How to correct or there is any need to correct it?Please help sir.

We have sold material which was returned for which we issued credit note. this material is now returned by us to the person from whom we have purchased, and for that he has issued us Credit note and we have issued him the debit note. I want to ask:-
1. Can we show these debit notes and credit notes net off in GSTR 3B at point 3(1) or
2. We have to show credit note issued by us and for debit note we have to show in any other ITC and claim ITC of it.

A car leasing company purchases a car and claims input tax credit for the GST included in the on-road price. The leasing company leases the car to an employee of a company with whom they have a tie-up. The lease rental includes a component of interest. This interest is calculated on the on-road value inclusive of GST, notwithstanding the fact that ITC has been claimed. Is this compliant with the provisions of the National Anti-Profiteering Authority, which states that "benefit of input tax credit must be passed on to the recipient by way of commensurate reduction in prices"? In other words, if ITC has been claimed, then can GST be included in the value financed for the purpose of calculating interest? OR, should the interest be calculated on the ex-Showroom price without GST?

What is the rate of GST and HSN code on warehouse/godown rent for storing of raw jute.

hello all, We are using tally ERP9. and also main inventory in this. we are face problem that is "purchase bill to come" show in Profit & loss A/c we want to remove this. kindly help us.

Dear Respected Person,

Need to know how to settle the exchange rate loss. A firm has closed its year 2019 and published. there were two entries in the ledger. one with a 4.0 exchange rate and the other was published with a mistake rate, here the exchange rate was 3.0. How can I fill this gap of 1.0.
Because if I convert the total, (Ex. Total in system currency is 500Drhams (Voucher 1 - 200*4 and Voucher 2- 300*3) and in Ledger currency(USD) 1700. Ideally, 500 * 4 =2000 should have been the total. Please help as this difference of 300 would be there always and carried ahead. I want to rectifiy this without editing 2019 data.

firstly share application money can be received in the company account and the allotment is to be done....pas 3 will be counted form which date ?

While finalising FY 2019-20, i realised that my company didn't upload a Sales Bill in the month of Feb 2020. However we have uploaded the same in GSTR1 for Jan 2021. Total GST payable on the same was 90000/- (cgst/sgst) Can you let me know the interest amount on the same? PS. Feb 2020 GSTR1 & 3B were filed before the due date.

Interest Paid on Borrowed Fund for Acquiring Controlling Interest in another Company allowable as Business Expenditure. The expenses are in connection with loans taken for Bank for the acquisition of a Company.
Please assist the interest on loan and finance expenditure on account of the loan could have been allowed as business expenditure or not .
I have referred judgement PCIT v. Concentrix Services (I) (P.) Ltd. (2019) 267 Taxman 625 (Bom.)(HC) in which they allowed interest on loan and finance expenditure on account loan as business expenditure on the ground that the Respondent is not in the business of investment of shares but in the business of Information Technology enabled Services, BPO and Call Centres.

Please guide whether we taken a loan for purchasing 100% shares of another company and after acquisition that company becomes 100% subsidiary company .

Loan taken for that acquisition is allowed and the interest on loan and finance expenditure on account of the loan could have been allowed as business expenditure or not .

Regards
CA Dhvani Kamani