A Firm has a turnover of Rs. 3 crores and satisfies the condition regarding cash payments / receipts being less than 5% of turnover.
My question is whether the firm can declare income less than 8%/6% or loss and still not get its accounts audited and file its return?
As the limit for section 44AD is turnover of Rs. 2 crore.

Dear All,

Request you to kindly guide if an NRI CA can open a proprietorship firm in india with a full time paid assistant. If yes whether the firm will have a separate bank account (NRO account) or will it be in the name of the CA?

ONE INDIVIDUAL HAVING SALARY INCOME OF RS 20 LAKHS AND LOSS FROM INTRADAY TRADING IN STOCK MARKET (SPECULATIVE) OF RS 30000/- WHETHER HE HAS TO MAINTAIN BOOKS OF ACCOUNTS AND GET IT AUDITED U/S 44AB??

A gst registered composite scheme dealer purchases of some goods .seller invoice details mentioned below:
Trade name :xxxxxxxxxx
Bill of supply
Invoice no.130 , Dt:20-08-2020.
Aadhaar no.xxxxxxxx
Turnover below 40 lacs
Invoice value :35,400/-
Question:
Dealer above mentioned invoice shown in gst returns accepted under gst act.

Hi,
I have 50k profit from F&O trading in past FY, which requires ITR3 as its considered as business income.
How to fill up balance sheet and P&L schedule for this income.

Thank you

Dear Experts,

Kindly give me a clarification on this matter.

i'm a trader from Kerala registered under GST as 'regular' . Suppose, i planned to purchase some vegetables from Tamilnadu and i request them to raise invoice to me and deliver the vegetables to my client in Karnataka.

In this case,
1. the supplier from tamilnadu raise invoice to me
2. I should raise an invoice to my client in Karnataka
3. Material will directly shipping from Tamilnadu to Karnataka

So, kindly let me know who should generate eway bill in this case.

Thanks in Advance

Dear All,

I would like to get confirmation that donation to PM Cares Fund is considered as exemption under 80G; hence it would be considered the same way by the employer. Hence employer should deduct tax after exempting the donation amount from my taxable salary. However I find it is not appropriate and I believe there is something to support & encourage donation to PM Cares fund. Please help.

Dear All,

I am working in a Publishing House and recently we have launched the digital version of the books. And we are selling it online. Kindly let me know what will be the HSN codes for the digital version of the books.
We also conduct the online exams for the students and we also charged the fees and providing them with the e-book and the practice paper.
What will be the Income head in P&L Account and what will be the treatment under the GST Rules?

Thanks & Regards
Ravi SINGH

Now from 01 April 2020 , dividend is taxable in the hands of shareholders/unit holders. So can we considered "dividend income" as business income for investment company ? We treat FD interest as business income due to nature of company , same way can we considered dividend income as business income.

Dear Team,

our company sale the motor Engines out country through foreign Dealers .and we sale goods with warranty .if any goods damages within warranty period our Dealer will replace the materials to customers. and same amount will be recovered by dealer from company.. Now if any GST - RCM applicable between Dealer and company ?