X, Y and Z are partners in a firm. At the time of division of profit for the year there
was dispute between the partners. Profits before interest on partner’s capital was Rs.
6,000 and X wanted interest on capital @ 20% as his capital contributions was Rs.
1,00,000 as compared to that of Y and Z which was Rs. 75,000 and Rs. 50,000
respectively

Hi,

I am salaried Person receive salary monthly.

I am also receiving interest on Fixed deposit which was in my daughter name (directed by court under motor vehicle accident case)

My PAN recorded in Fixed deposit and TDS deducted and TDS certificate received in my name.

My daughter is minor and Has PAN number in her name. I have not used before for filing the return.

1) Which ITR form should I use when filing income tax return ?
2) Should I keep daughter PAN or Cancel the PAN since I am clubbing the income in PAN ?
3) Is there any penalty for keeping PAN for minor and not filing the return ?


please advice.

Regards
Umesh

Dear Expert,

Kindly guide on the following:
1. I have started my Entrepreneurial journey recently, and have started a Proprietor-based Consulting firm. Do I need to apply for Profession Tax?
2. Kindly guide on the website that allows me to enroll / register for Profession Tax
3. Can I make the payment for last year as well?

Thank you in advance.

Warm regards,
Kedar Zingade

Hello Expert

Private company taken unsecured loan from director and relative of director by passing Board Resolution in Second Board Meeting .
Now company plan to convert such loan into equity.

can company eligible to pass special resolution in General Meeting in respect of above loan.

Dear Sir,

Can I book the expense bill in April 2018 which invoice date is 31st March 2018, Actually i have received the bills in april 2018 and I have already filed GSTR2 and paid tds, So can i take input credit

Please give advice

Dear All

Please clarify if payment of conference participant fee payable in USA by an Indian Company for it's employee will attract TDS under section 195???

Hi All,

Wanted to know what all documents are required for processing forex payments ?

Secondly, is 15CA/CB required to be attached with every foreign payment or is it a periodic document?

Please also elaborate the process of drafting and filing 15CA/CB.

Thanks a lot.

I am going to buy a flat worth Rs. 6300000 , now this building will go into redevelopment in 2020 and we will get new flat within 2 years worth rs 1 crore. So in this case so we need to pay capital gain tax?

Respected All

we received an electricity bill from 10.03.18 to 09.04.18 with rs 50000/- in the m/o April,2018

so pls clear that we book this bill amount in month of march,2018 or april,2018 or partially in the month of march and april.

what should be correct entry??

Regards
Atul KUmar

If "A" is a transportor registered in GST in MP state.

Now "B" is registered manufacturing co. in GST (in Gujarat, Kerela, MP, Rajasthan) and hired 'A' as a transporter and taking service for transport goods from MP to Kerela.

'A' bills to 'B' (Gujarat) for above transportation, then what RCM will be applicable ?