Dear Experts,

One of the my client is senior citizen having rent income and FD interest. He also partner in partnership firm from which he received profit ( no salary or interest received). Can he liable for advance tax for F.Y. 2017-18?

Thanks

A IS PARTNER IN ABC, Chartered Accountant & XYZ Chartered Accountant. Can ABC Chartered Accountant Audit the Account of XYZ, Chartered Accountants.

We are having One Star Export House status & exporting wooden furniture to the various buyers abroad. We were exporting the goods to a buyer in France on running order basis, which went into LIQUIDATION at France in the year 2013 . Approx. $7000 is lying with us as advance payment against export order but due to liquidation of the Co. & cancellation of further orders ,we are unable to adjust the amount against export order. We want to forfeit the amount for the reasons of liquidation of the Co. & cancellation of the order. Whether we can book this amount as other income without prior approval of Authorised Dealer (Bank) & RBI . If, yes whether we will have to inform RBI regarding facts of the case.

i have two residential houses, one is rented and the other vacant. i am a salaried government employee and live in a different city on rent for which i get HRA.
Can I show one of the property as self occupied or do I have to show a notional rent on vacant house also.

I am working in a private organisation and my monthly salary structure is as follows:
Basic Salary: 38000/-
House Rent Allowance: 19000/-
Leave Travel Allowance: 17100/-
Medical Reimbursement: 11400/-
Conveyance Allowance: 9500/-
Please advise which of the allowances are exempted from Income Tax and up to which Limit so that I can deduct those from my salary for the purpose of ITR filing.

I am providing Manpower Service. Turnover is Rs.74 Lacs for F.Y.2017-18,

So my question is whether my books got compulsory audit as my turn over greater than 50 lacs, consider be that manpower service fall under profession. is it true?

Sir I have purchase three ship in 8 lakh Nd they are close not given to rent Nd I m salaried person now how can show in my Itr Nd loss of rent is show in my itr please suggest

Sir,
If a taxable person gives a gift of more than Rs.50,000 to a non-taxable person (Student(not Minor))
What will be the tax treatment in that case?

i have own bus and giving services to passenger travelling form one place to another place. now gst will be applicable or not if yes than what will sac code?

Whether I am required to get my books audited?? if my net profit is below 8% and I m not opting for sec. 44AD and showing my income in business and profession head. My turnover is below 1cr. and upto last year my books are audited.