A LLP has taken loan from 2 partners. Now the business is not working and LLP needs to be shut down.
But there is no money to pay back partner loan. The loan amount was capitalized over the years.
Can LLP close without paying back partner loan?
Can LLP write off partner loan and then close?
What is the process in such a scenario?

Dear Sir,
I want to know that at the time of filling GSTR1, Does HSN Code include value of advance receipt ? For Example, I sold material for Rs. 1,00,000/- under HSN 1234 and from a new party I received advance for Rs. 10,000/- under same HSN.
So what value will be filled in HSN code detail, will it be Rs. 1,00,000/- (Actual sale of material) or Rs. 1,10,000/- (amount including advance) ?
Please make it clear.

Dear Team,
company given contract to X vendor for construction of office including all materials . and same we are capitalized. Now in office equipment (Air conditions & others) we are given to for service .
Can WE take ITC on that service charges ?

Hi, I Have a Question
A partner purchase Car And their Emi Paid in Company Account Interest Entry pass or not ?? Any Partner Reimbursed Interest Exp in their personal Income Tax return?? If Interest entry does not passbook of account ledger not match please give Suggestion for that.

Thanks In advance

Dear Sir/Mam,
Please make me clear that under which section Income from commission from sale of property will be taxable ?
Further, If I want to file return under presumptive taxation, then will it be taxable under 44AD or 44ADA ?

[18/06, 09:18] Kamalmrin: Goodmorning sir.. Need your guidance. One of my client is engaged in the business of manufacturing socks. He bought yarn @12% and output was taxed @5%. For FY 2017-18 and 2018-19, I applied for refund under inverted tax structure in January 2020 and refund was issued by GST deptt in Feb 2020. Last evening, I got call from gst officer that refund upto JUN 2018 was issued by deptt erroneously coz as per below notification refund from JUL 2018 onwards in allowed on knitted fabrics. Pls could you guide me how to proceed here.
: Your guidance will help me proceed further as it could be difficult to explain the same to client and reverse the same by making payment to deptt

Dear Expert,

1. An individual takes personal gold loan of Rs. 10 Lacs. The bank transfers the gold loan money in his savings account.
2. Now he incorporates a OPC with paid up capital of Rs. 5 Lacs.
3. He transfers Rs. 5 Lacs from his saving account to company current account for paid up share capital.
Query: Is there any restriction on this source of share capital?

Hello,

Please guide me what will be depreciation rate for Solar panel as per companies Act. What useful life will be considered?

Stamp duty paid by a firm for registering land and building in firms name. Whether we can claim it as expenses or need to capitalize ?

When is the last date of filling DPT 3 for FY 19-20 ? Was there any extension?