We had paid TDS as of Rs 3 Lacs as on 07-08-20 for the Q-4- fy 19-20 on provision of some job work bill as of Rs 1.50 Crores but due to certain reason the bill has been cancelled. Since TDS Return as been filed and the said Bill and TDs both have been shown in TDS Return. How to use the said TDS for the next financial year 20-21.

Sir,
A provisional statement was signed by auditor showing gst liability 12 lakh but actually the gst liability was 2 lakh.. And they paid the amount 2 lakh. But while finalising the accounts the actual gst liability to be show as 2 lakh but auditor is not willing to finalise the same with 2 lakh. The difference in gst liability risen was due to the gst rate.. What to do with the same.

TDS applicability on payment on payment to GO Daddy.com LLC (USA) for domain Renewal Charges

Dear Sir,

I am filing GSTR 9 of my client for FY 2018-19 who is into the business of providing GTA services and he is exempt from paying GST on transportation.

But while filing income tax return Sales amount in Profit and Loss account was shown on receipt basis as per bank entries whereas Sales shown in GST returns were shown on the basis of actual bills made during the whole financial year. This has resulted in huge difference in Sales amount shown in Profit and loss account and Sales shown in GST returns for F.Y. 2018-19.

How can I resolve this issue. The difference between GST sales and Income tax Sales is 3 crore.

There is no GST liability on this 3 crore amount as it comes under exempt supply. Is it the right way of maintaining accounts incase of Transporters under Income tax.

Please help me regarding this matter.

Regards,
Divyesh Jain

In the case of Lump Sum Incentive received from the Supplier on purchase, what is the right accounting method for its revenue recognition?

1. On receipt of the amount, can the full amount be recognized as income at point of receipt? or
2. The incentive to be reduced from the cost of stock or
3. The incentive received to be deferred in the form of provision and recognize as income in proportion to future sale of the stock items or else.

Assume:
(a) the money used for the purchase is financed which used to repay by using sale proceeds and
(b) incentive calculation formula/structure can be known only at a later time when the money is received.

DRY FRUITS PURCHASED THROUGH BILL

WHETHER TDS NEEDS TO BE DEDUCTED ON ABOVE BILL

Are E-Invoicing and TCS is applicable for High Seas Sale?

WHO WILL ISSUE THE WAYBILL?

If someone has worked 4 months of last FY in UK, and earned some salary there (tax is deducted on this salary), how does he get credit of the same while filing ITR in India ?

He is still an RI. So the income gets added to his Indian Income. But how does the tax credit work ?

DEAR SIRS : IT IS A ADOPTED PRACTICE IN SAREE / SUIT RETAILERS THAT PURCHASES ARE MADE UNDER 30/45 DAYS RETURN BASIS.... AFTER 45 DAYS UNSOLD GOODS ARE RETURNED.... MY QUERY IS (1) SHOULD THE ORIGINAL PURCHASER ISSUE DEBIT NOTE / DISPATCH DOCUMENT AT TIME OF RETURNING GOODS (2) WHAT IS THE TIME LIMIT FOR RETURNING GOODS ? KIND REGARDS

A partnership firm has a huge loss.Now partners quarrel.The audted accounts is to filed.The auditor files the report without an audit report.2019/20 AY
Incometax is asking the firm to file before 31 dec

The implication of non-filing

they were in real estate and the business is down
Can the managing partner who has a digital signature file the return