A partnership firm has received payment of Rs 50000 after TDS of Rs 5000. Now it has charged the TDS in the P/L appropriation Account and after that net distributable profit has been divided in the profit sharing ratio. Whether the above accounting treatment is correct? If not please advise what should be done?

A partnership firm has received payment of Rs 50000 after TDS of Rs 5000. Now it has charged the TDS in the P/L appropriation Account and after that net distributable profit has been divided in the profit sharing ratio. Whether the above accounting treatment is correct? If not please advise what should be done?

Please, tell me excisable goods return inwards or outwards procedure, if already cenvat taken & uses some input in production after that few input return for quality problem, what is the procedure of goods return under excise rule?

Please clarify for any predetermined order, E1 Sale could be done.
Example party A is a supplier from Bangaluru, Party B - Dealer in Coimbatore and party C in Trivanrum a sub Dealer of B.
Can party B ask his supplier A to ship the goods directly to party C at Trivandrum against an order received under E1 Sale.

SITUATION

MR.K(EMPLOYEE) HAS BEEN EMPLOYED WITH IOC(EMPLOYER). MR.K IS A OWNER OF HOUSE PROPERTY.
THIS PROPERTY IS TAKEN ON A LEASE BY IOC ON APPIONTMENT AND SUBSEQUENTLY GIVEN BACK TO MR.K AS A RENT FREE ACCOMADTION.
NOW. THE PROBLEM IS THAT HERE MR.K IS BOUND TO PAY TAX ON HOUSE PROPERTY U/H THE IHP AND AS PREKS IN RULE 3(1) U/H SALARY.

PLEASE EXPLAIN WHAT IS TO BE DONE IN THIS CASE & IS THERE IS DOUBLE TAXATION?

a company inreased its income by way of fraud, to take a loan from bank.
two year after the mal practice has been discovered by income tax department.

can the company now make a claim to refund tax of the inflated income previously paid.

Dear Friends, I have a little doubt in my mind. When we deposit the Capital gain AMount in Investment scheme u/s 54 for claiming exemption, we need to utilise it for purchase of property. SUppose, in next year I withdraw the LTCG amount from the scheme and utilise it somewhere else. Then in that case, the so withdrawn amount shall become LTCG in my hand in that previous year in which money so withdrawn. Now, if I have some LTC Loss also, then can i get set off benefit between these two, i.e LTCG due to withdrawal of money and not utilising it properly, and the Long term capital loss. I hope I am clear, if anything not understood please let me know.

Dear Friends, I have a little doubt in my mind. When we deposit the Capital gain AMount in Investment scheme u/s 54 for claiming exemption, we need to utilise it for purchase of property. SUppose, in next year I withdraw the LTCG amount from the scheme and utilise it somewhere else. Then in that case, the so withdrawn amount shall become LTCG in my hand in that previous year in which money so withdrawn. Now, if I have some LTC Loss also, then can i get set off benefit between these two, i.e LTCG due to withdrawal of money and not utilising it properly, and the Long term capital loss. I hope I am clear, if anything not understood please let me know.

Hi

Please clarify whether suo moto acceptance of contravention by the contravening party attract any penalty under FEMA?

HELLO

CAN I PAY STAMP DUTY ELECTRONICALLY???
PL LET ME KNOW D PROCEDURES......
PL HELP FRNDS

REGARDSS
SANGITA