Hi Sir,

My Company has purchased car of Rs. 10,00,000 on 01/04/2015 on which depreciation was claimed upto 30/11/2018 and WDV of car is Rs. 6,00,000 on 01/11/2018 company sold such car at Rs. 9,00,000. My Queries are:
1. Is Such asset is a Long Term capital Asset ?
2. If Yes, Is Indexation available on that ?
3. How to Calculate the Capital gain ?

Hi guys,
Our company distributed gifts on the occassion of Diwali which costs in Total around Rs 51,000.(Doesn't include Food or Beverages).
Please tell us whether we are to claim ITC or not.
Secondly, If we already availed ITC and if answer for the above is no, then what should we have to do?
Next, whether ITC on insurance of Motor car is available or not(car is used in Export of Technology business).


Thanks
SHASHANK

Dear Sir,
Sales Turnover Rs 4,39,85,667 (4.39 Crores ) as at 31st March 2018.
Capital Gain Income Rs 52,00,000 ( 52 Lacs ) as at 31st March 2018.
I had filed the said ITR-3 being a proprietary concern on 30th October 2018 u/s 44-AB. I would like to know as to how and why the Fee for default in furnishing return of income (section 234F) has reflected in ITR-3 as of Rs 5,000. The return had been filed on due date and was not delayed at all. How can be applied section 234-F in this connection? I would like to know my mistake if done by me while filing the said return. Please guide me and oblige. Whether can we file revised return so that refund of Rs 5,000 could be claimed?

Dear Experts,

payment of a contractor is stopped due to some dispute between the employer and the contractor for a period of 16 years form 2002 to 2018 now since the court have ordered the employer to make the payment is it legal to deduct GST on the amount which has been accumulated in the form of interest for the period of 16 years?

Kindly give your valuable suggestions.

Thanks in advance.

Suppose X and Y invest ₹10000 each as capital in a firm. They will also be investing ₹50000 but it needs to be treated as a loan. Is it possible to show amount invested other than capital in the company as liability of the firm which needs to be paid back to the partners or investors. If yes the how if no then why.

Namaste all,
ASSESSEE FILED REUTRN U/S 44AD CLAIMING 8% INCOME ON HIS TURNOVER OF RS 1,10,00,000/-
DECLARED NET INCOME @8% IS 8,80,000/- SAME HAS BEEN CREDITED TO HIS CAPITAL A/C IN BALANCE SHEET.
WHERE AS HIS ACTUAL NET INCOME/ SURPLUS IS 11,50,000/- WHICH HE INVESTED IN FIXED DEPOSITS,
SUPPOSE INCOME TAX DEPT ASK FOR SOURCE OF INCOME WHAT WOULD BE THE ACTION ON DIFFERECE 2,70,000/-

I am a CA, practicing as a Sole Proprietor, now can I join in a Partnership Firm without surrendering COP of sole proprietory concern.
I yes then what is the status of COP in Sole Proprietory concern??
I not then what can I do??
Please help me.
Thanks in Advance

Dear Sir,

We have made mistake in putting GSTIN No. in one of our customer , now customer want correct the same. Invoice made in Dec 2017, and as Govt. we have to correct the same in our Sept GSTR1 return , but customer send mesasge to us on 26.11.2018 to rectify the same.

Can you please tell us how to rectify the same.

A notice u/s. 148 (I) was received be me for AY 2011-12 during March,2018 asking me the source of cash deposits in my bank to the tune of Rs. 27.00 lac. I had replied the said notice online during Oct.2018. I had not filed the IT return of the said AY, as the income was below taxable limit. To-day, while I was checking status of my IT Return of AY 2018-19 on the income tax portal, I saw a show- cause notice u/s.144 computing my entire cash deposits in bank as my income giving the reasons that I failed to submit required documents asked by ITO. But, I did not get any notice asking for documents as claimed in the said show cause notice. What should I now ? Please advise me.

I am filling qtly return under composit rate of tax GSTR 4 and GSTR 3B showing sales . Now in GSTR 9A whether we shoul file purchase also in GSTR 9A. Pl carify the same since purchase has not been filled in GSTR 4