In a Pvt. Ltd. Say in FY 2019-20 director remuneration is paid Rs.1800000 annually and there is contract with director that he will be paid variable pay of 1% of profit greater than Rs.3.00 cr.

Now Profit came Rs.4.00 Cr for FY 2019-20 and Rs.100000 paid to director as a variable pay.

Now question is Rs.100000 provision to be done on 31/03/2020 and to be shown in Form 16 of Director for FY 2019-20 or it will be part of salary of FY 2020-21.

A gst registered regular scheme dealer gstr3b sales turnover details mentioned below
Sales as per books Rs:65,00,300/-
Sales as per 26as Rs:63,00,500/-
Question:
Assess sales turnover amount rs:65,00,300/- or Rs:63,00,500/- show in i.t.returns.

In Assessment Year 2017-18, first time I incurred a long term capital loss and showed it by filing ITR-3. In the next AY i.e. 2018-19, i filed ITR 3 but missed to show the loss of previous year as "to be carried forward"

In AY 2019-20, due to change in nature of income, i filed ITR-1 and once again forgot about carry forward of the long term capital loss.

In AY 2020-21, I want to set off this long term loss against a long term capital gain. Can i still go ahead and file ITR 2 directly? (even though previous two years i did not show the carry forward)

A gst registered composite scheme dealer purchases and sales transaction details mentioned below in 19-20.
Opening stock value rs:10 lacs
Purchases value in the year 19-20 Rs:15 lacs
Sales value in the year 19-20 Rs:28 lacs
Closing Stock value rs:nil
Gross profit Rs:3 lacs
Question:
Dealer closing stock value maintained nil in trade and purchases value small amount any problems future in gst act.

hello, for fy 2018-19 annual return in gst, portal asking aggregate turnover of previous fy , when, registration was taken in fy 18-19. There was not business in fy 17-18. What amount to feed in said column. Valuable opinion is highly appreciated. Thanks

Dear All,
I am receiving the commission for receiving the payment for Currency Exchange.
The mechanism works like I received the money in bank account from agencies like Western Union etc and then through cash distribute the money to the customer.

for tax audit purpose how is the turnover should be calculated?

Hi Experts,
One of my friends is having two properties. In F.Y. 19-20, he rented one house property for first 3 months @ INR 10000/- per month and then he didn't give it on rent and other property was self-occupied. I understand in this case, Net Annual Value for the rented house property would be INR 30000/- as per the latest provisions of the income tax act.
Pl. advise.
Thanking you in anticipation
Ramesh

Dear Respected All,

Greetings!!

Actually my query is that the depreciation on mobile As per Comapny Act SLM - 4.75% WDV-13.91/-. However i have seen on depreciation working sheet that one of my C.A. calculated depreciation @45.07% on Mobile. Now i wanted to know why depreiation @45.07% has come on mobile ????

Regards,
Narendra Wod

Respected Sir,

For the Ay 2020-21 the deductee has filed ITR as on 2nd November, 2020 but the deductor has not revised TDS Return, whether the deductee can take the set-off of the TDS Credit for the Ay 2021-22 in case the filing of the revised TDS Return for the Ay 2020-21 gets considerably delayed.

Kindly note that my husband died on 10/07/2020, he was not completed his return for AY 2020-21 as the extended due date is 31/12/2020. Now I want to know that whether I have to declare myself as a legal heir regarding filing of return for AY 2020-21 or AY 2021-22.

Kindly advice me as soon as possible as the due date is coming.
SHRABANI CHAKRAVARTY