Hi,

Please tell me do i need to have a valuation certificate if i want to take FMV as cost of acquisition for capital gain taxes.

Please reply

Return for the quarter ended on June 2020 GSTR1 was to be filed upto 3rd Aug 2020. But it got late and return was filed on 20th Aug 2020.

Please tell me about the implications of Late fee and Interest. The turnover is less than Rs.1.5 corores.

Please help me in solving this query.

A private limited company is being voluntarily liquidated. The I.T returns for the FY 2019-20 needs to be filed.

It has a business loss. The reason for business loss is the liquidation expenses. Almost 90% of the business loss is due to liquidation expenses (like remuneration paid to liquidator etc.).

The company has also got some Foreign Exchange gain during the FY 2019-20 which is part of business loss.



My questions are as follows:

a. Whether the liquidation expenses are allowable as a business expenses?

b. Whether business loss arising from the liquidation expenses can be set off with the Foreign Exchange gain?

c. Also do let me know if there are any provisions and case laws in this regard.



Thanks in advance.

I.t. Assess sales of car received from profit capital gains applicable and profit amount shown in books in treatment.

Does HUF can make a prop firm and do bussiness same as one of the member of huf?

Does a Pschologist needs to register for GST ?

While computing Capital gains on shares and mutual funds, we need to identify Cost of Acquisition (COA). Apart from STT what is excluded to arrive at Cost of Acquisition for Shares and Mutual funds? Is GST paid while purchasing shares added to COA or it is excluded?

Hello Everyone,
Please tell me the due dates of ITR for AY-2019-20.
Is it really extended to 30.09.2020.

Thanks in advance,

Unclaimed ITC for Fy 2019-20 is claimed in the Month of May - 2020. However it is over and above 110% of GSTR2A ITC for the month of May 2020. What would be the effect for this in the month of September 2020. (Since 110% of ITC will be accumulated Feb-Sep 2020). Do i need to reduce my September 2020 ITC to that extend which i claimed excessively in the month of May 2020.

Dear sir madam
a person has taken loan from banks Rs. 26 lacs for business and 5 lac for personal in balace sheet wher i have enter the amount and where i have to mention loan repayment Amount kindly suggest