For the year ending March 20 ( Fy : 19-2 ) I am one of the directors for a pvt ltd company. I am drawing Rs 50,000 per month on account of remuneration/salary from the company. As at 31st March 2020 what will be the nett tax liability. Please let me know the format of working for calculating income tax liability as at coming 31-03-2020.

There are Private Limited companies having common directors. One is loss making company (Small Company) and another one is profit making company(Large Company).

Is it possible to merge the profit making company with loss making company i.e.reverse merger for set off the unabsorbed loss accumulated in the loss making company.

Please clarify from the perspective of both Income Tax Act and Companies Act.

Hello every one,
I need suggestion related to GST sale bill. In case a sale bill cancel and make a new bill with same material but change the date and invoice number and previous bill include in GSTR-1.
kindly advice what is treatment give in book of account?

Thanks in advance

IF AN EMPLOYEE JOINS IN AN ORGANISATION ON 1-10-2019 AND HE RECEIVES HRA THEN WHAT IS THE RELEVANT PERIOD TO BE TAKEN FOR THE ACTUAL RENT PAID DURING THE PREVIOUS YEAR IN CALCULATION OF HRA EXEMPTION .WHETHER WE SHOULD TAKE COMPLETE YEAR OF ACCOMMODATION (i.e,from 01-04-2019 to 31-03-2020) OR FOR THE PERIOD FOR WHICH HE RECEIVES HOUSE RENT ALLOWANCE (i.e,from 1-10-2019 to 31-03-2020).

could anyone help me out.

Registration for GST number assigned to CENTER...what does it mean...is different then assigned to state?
How much time it will take?

Dear Expert,

One of my friend has filed his income tax return for A.Y. 2013-14 by mentioning dummy TAN on last date of filing of return. But he forgot to revise his return by mentioning correct TAN numbers (some party has deducted TDS). Now, the CPC assessed the file and intimated him that the TDS credit could not be given due to mismatch / wrong TAN and demand was raised. Further, he keeps filing his returns for next years. And CPC keeps adjusted the pending demand with next year's refund.
Now he wants to correct the return of A.Y. 2013-14 and wants to claim the refunds which were adjusted against the demand by CPC.
Please guide me to assist my friend in this matter.


Thanking you,
Vinod Kumar Shukla

Even i have deposit Interest payment for late deposit of TDS. I got notice from Income tax department to deposit compounding interest on interest payment for late payment of TDS.
how to calculate compounding interest and upto which date i have to calculate compounding interest.

MATTER MOST URGENT.

Our business concern is a partnership firm during the F.Y 2018-19 our sales turnover is 34 Lakhs. Is it compulsory for seeing a minimum 8% net profit otherwise Audit under Sec.44AB. Is it allowable for claiming interest on capital or remuneration without audit under Sec 44AB.

If request for rectification of Income Tax Return U/s 154 is rejected by Centralized Processing Center, what would be the next course of action, whether to file appeal or seek any clarification from the concerned Jurisdictional Assessing Officer.