Good Morning all,
I had a query relating to GST Credit Note.
I Purchased 1000 Cement Bags @ 200/- i.e., 1000*200 =200000 (Purchase Cost)per bag and later the supplier issued Credit Note for the Rs.15000/- for the same goods,
Now My Purchase Cost becomes Rs.200000-15000=185000 that is Rs.185/- per bag.
I Sold these at Rs.195/- per bag in Retail to Customers.
The Problem is, At the time of Purchase i will accounted as Rs.200/- per bag (1000bagsX200=200000) .
The Credit note given by the Supplier had no effect to cost of per bag ( Directly reductionn in Purchase Value and no effect in Good Value).
In My Books , the cost of Cement bag is Rs.200/- and Selling Price is Rs.195/-
But actually i'm selling for Profit for Rs.195-185 =10/- per bag.
My Question is How i need to give this credit note effect to my Stock price ?
Can anyone say the answer.
Whether Air ticket exp. of NRI who came to india to sell a property be allowed as deduction in capital gain calculation as it is written in capital gain' provision that travel exp wholly exclusively for transfer is allowed???
Will there be any further extension of filing TDS returns for Q4 of F Y 2019-20 since it has already been extended from 31.05.2020 to 30.06.2020 on account of lock down.
My firm formed in 2017 and registerd under msme. Since its small , its proprietorship. I want to register under www.startupindia.gov.in which is under DPIIT. Now few CA told me propreitorship cant register. Pls confirm.
My t/o gross receipt less than5 crs, conditions of cash receipt 5% & cashexp 5% satisfied. Whether TDS provisions are applicable if t/o /gross recpt are more than 1 cr in previous f.y.? Fy in question is 19-20.
Husband and wife are purchaser of property named in agreement from builder.Consideration pd by husband. TDS tobe deducted by both separately or by husband only? and file 26Q by husbsnd only?
I AM CONFUSING WHETHER LATE FEES APPLICABLE FOR TDS STATEMENTS RELATING PRIOR TO 01.04.2012.
BECAUSE SEC 234 INSERT AND W E F ON 01.07.2012 AND IT WILL LEVY FROM 01.06.2015.
I WANT TO FILE SOME OLD TDS STATEMENT NOW..
Dear CAClub
Facts:
1. My property located at Hyderabad has been acquired by GHMC (greater hyderabad munical corporation ) for road widening and demolished.
2. Compensation has already been paid.
Question:
1. is the compensation paid by government in the above taxable ?
2. Which specific provision of income tax act deal with this subject matter ?
2. Do I have to declare it my tax returns ?
Hi
there is a wrong debit balance in name of bank loan account, and no such bank loan exists in book of account, so how can be removed such error in our current year books.
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
ITC OF EXPENSES