I am the Accountant of Construction Company I have one Doubt about the Subcontract Expenditure In Expenses in Books of Accounts of the Company

Site Expences and Labour and Other Expenditure Related to Site And Office we have Given a Sub Contract to One person he is Regularly giving the bill and We are Clearing the bill after Deducting TDS Now my doubt is How to that Expenditure in my Books of accounts, Can i Pass Journal Entry Item wise Like Site Expences ,labour Charges

Please give me the Suggestion on the above Query

Dear sir,

Month of Feb'2020 GSTR-3B Return we have declared input wrongly.Actually we have to pay amount under CGST/SGST, payment also made on 20.03.2020 due to input declaration wrong setoff done via credit ledgers CGST/SGST , now we have excess credit in ledger and current ledger also showing our payment.

In this connection can we reverse excess credit for next month?
can we liable interest on wrong declaration of Input? if liable howmuch percentage and from which date i have to take for calculation.

Today's FM announcement is not clear. What are the date of filing GSTR3B for March, April, May. What is the due date for filing GSTr1 for Jan-March 2020.
If anyone has clarity, can you please provide clarity.

Sir,

Scenario is i took personal loan of 4L for my marriage expenses this month (march 2020). i have done FD by adding my saving to my loan amount for one year as the occasion is cancelled. My question is.

1. How to show the sum amount deposited as FD in ITR ( Salaried person). Is it taxable. How ever the bank interest is taxable.
2. Can the sum be shown as saving.

Please do suggest.

Thanks,
Sagar

hi sir,

this is santhosh from hyd i need one help this current year from our company 1 crore above cash withdrawal-ed by bank they are deducted 2% tds how to pass tds entry on cash withdrawal in tally pls do help

Dear Sir,

we are not able to receive our IGST amount ( which we have raised sale invoice to that party ) from our customer. Can we file GSTR 1 without showing that invoice or what is the solution in GST portal?

A body corporate was charging revenue from one of its customers based on unilateral revision of the revenue, to which the other party never agreed to. They kept on paying at the old rates. The body corporate booked such excess revenue as outstanding debtors and paid corporate tax accordingly.

This situation continued for several years until the body corporate decided to such practice and started charging revenues at the old rates.

Now the body corporate plans to adjust the excess income charged and booked as debtor so far against the income of the current year as reduction of income. By doing so, they will take the benefit of reduction of tax liability.

Bank deduct TDS in cases of interest payments for more than Rs 10,000 p.a. but banks do not deduct TDS if form 15H is submitted. Is there any threshold criteria or upper ceiling where banks will deduct TDS even if form 15H is submitted? For example, if a person earns Rs 10 lakh as interest on FD, he should not be allowed to avoid TDS by just submitting a form.

Dear Freinds,

I hope you are doing well !!

Basically, I need your support & guidence.There is one senior citizen (60Yr +) in my family. he retired in FY 2017 mid year from his company. unable to fill income tax return some personal reasons. now getting message to file the return FY 18-19.

But in FY 2018-2019 company also reimbursed few amount (which not reimbursed in retirement year) & charged TDS on it Rs 89,780 & issued forum 16-B (Annexure) Rs 8,41,324 after standard deduction Rs 40,000/-.

Apart from it, Bank has deduct TDS on his Fixed deposites (Retired money) interest incomes TDS 10,925.6 on Gross Receipts subject to Tax 1,09,256 due to (Not Declared 15 H)

In SBI, declared 15H although this bank also deduct TDS 4,228 on Gross receipts INR 1,53,113.00.

I am unable to calculate proper tax calculation.

Could you please help me to find out the exact tax amount along with penalty if Occur & also confirm SBI bank charged less TDS amount

Thanks & Regards

Sourabh Sharma
9625310412

Regards Form 52A
Statement to be furnished to the Assessing Officer under section 285B of the Income-tax Act, 1961, in respect of production of a cinematograph film,

Recently New form was update..In that form asking some much details (eg. country,address,Post office address ect.)when i update such a details means site was take too much time to analysis is there any other options for filing.

i contact income tax E-filing department also there is no response they simply said its online submission only no any other option.

Please guide me if there any software are some other way to file.already due date was over i have 1400 line times to fit in online form..please give me any solution