What if first auditor not appointed within 30 days of date of registration of the company.

even first auditor not appointed in EGM within 90 days.

Now what is to be done??

My daughter is a student. She is selling her gifted property after 7 years. What's her tax liability. I bought it for 11 lakhs in 2005. Gifted to her in 2010. Selling this month for 22.5 lakh.

If i give my employee an imprest payment of Rs 10,000 and send him to purchase Printing material for my firm. He purchases the printer and also uses taxi, has lunch etc. from an unregistered dealer. Will i be required to pay tax on RCM?

Is tax audit is required if (in case of company) turnover is less then 1 crore and also profit

Dear All
We are trader of motor parts. To boost sales , we provide discount coupons of 100 & 500 points in each cartoon/ box of material. When the buyer return those coupons, we adjust the amount in their accounts. Whether there is any need to charge GST against those vouchers or not. Please guide.

Dear sir

I have received 15300/- income tax refund in my account

please suggest how i can adjust the entry

Previous year when we finalized the balance sheet i was debite whole income tax to capital account

If in the Current F.Y 2016-17 the firm paid VAT along with the Interest and Penalty for the period F.Y. 2008-09.

So whether it is considered as a Prior period items?

And if Yes, What is the tax implications on remuneration given to Partners?. Whether all exps. related to VAT is added to the profit or only penalties will be added ?

i am running a readymade garment retails business in Tamilnadu. i am purchasing garments from Delhi. What is the procedure for purchasing from Delhi through eway bill. Can the experts enlighten me?

Mr. A had a residential house gifted from uncle in the previous year 2010-11, The Fair market value of which as on 1.4.81 was Rs. 2,70,000. The property purchased by the uncle in 1973 for Rs. 70000, In the year 2015-16 further construction and improvements costed Rs. 25,00,000.00, On 04.07.2017 the house was sold for Rs. 48,00,000.00. Calculate Taxable Income For F.Y. 2015-16 and F.Y. 2016-17

Sir,

Earlier, we have opted for Composition method and have got ARN for the same. Now, since we expect that, the total turnover might exceed Rs. 7500000/- well before the end of this financial year, we like to switchover to the regular method from October onwards. ( Our total turnover upto Sep 17 is well below the threshold limit of Rs. 7500000/- )
Shall we opt out of composition method now and if we do so, what will be the fate of the first 3 months' return viz Jul to Sep. Whether we have to file the quarterly return at the applicable rate for Jul to Sep and continue filing monthly returns from Oct onwards ?
Will we be asked to pay the difference of tax between the Composition rate and the GST rate under regular stream for the period Jul to Sep ? Kindly advice.