Good morning sir/s,

Please let me know, that is it mandatory to file GSTR9C in respect of cases exceeding turnover of 2 crores OR is it optional

Recently AIS is moved out from Services tab, when I click on this new AIS sub tab nothing happens, Thanks to CaClubIndia for informing some alternates.
but there must be a reason why standalone AIS not opening on my Win11 with Chrome browser.
I have cleared all (basic & advance) Cookies, No malware according Chrome browser test.
Thanks,
VK

I have filed ITR-3 but, the error is
"In Schedule VIA, deduction u/s 80RRB plus 80QQB cannot be claimed more than
the sum of Sl. No. 15 of Schedule P&L account and Sl. No. 1e of Schedule OS"?

I have no relation with these schedules 80RRB& 80QQB. what to do? PLEASE HELP.

Hi Sir/Ma'am,

I have recently changed the company and no TDS was deduced on the salary of april, may and bonus. I have calculated how much tax I will have to pay on that salary. (by calculating my annual income : previous company salary + june - april 2024 salary of new company).

Can I pay the whole advance tax in one go instead of paying it in every quarter.
Advance tax is 50k and in new organization I have mentioned my income from previous employer and I have mentioned 50k as TDS on that.

What can I do now?

I am getting error in submitting ITR- 3, In Schedule VIA, deduction u/s 80U for self with severe disability cannot be more than the maximum limit of Rs.1,25,000 Where I have not entered any amount under this section. 80U in schedule VI. and clicking by clicking the error, no response was made from the site..

I have also deleted 80 U in part C & D but the Result was the same, still the same error is their on the website.

A US-based company has a PAN card in India, in its name. Was taken for withholding tax issues. The US company has no permanent establishment in India. But now as Form 10F needs to be filed online for which the US company needs to first register on the IT portal, with their PAN card. But at the second stage of the registration process, there is a need to fill the FCRN. But as the US company does not have any permanent establishment and is NOT registered in India, and does not require to be registered in India, how can the FCRN requirement be fulfilled? how can we file Form 10F Online, without this process of registration?

Sir, while filling my ITR ay 2023-24 seen salary entry on 26As but that Company does not belongs to me. While I decided to file grievance. It already shows GRIEVANCE by some other person under the head of MISUSE OF ACCOUNT on dated 28-05-2023
But I regularly filed my ITR since 2012 and other financial activity with same PAN NUMBER 2012
Now how can continue use same PAN? where should approach ?
regards

Hi,

What is difference between Bank Overdraft and Cash Credit ? which is better ?

As per latest tax audit guidelines published by ICAI in 2022 and applicable for AY 2023-24, the calculations of F&O turnover are clear. There is no separate exceptions in guidelines for currency F&O trade.

In most of examples given at various platforms and websites ,the illustrations on based with stocks F&O. And could not find specific reply of currency F&O trade. It creates question of what about Currency F&O trade.

1. Is that also covered under similar method of calculations for arriving at turnover amount ?
OR
2. . Does it need to add full value of trade instead of absolute P&L figures. ??

3. Is there any exception / separate guidelines for currency trade turnover amount calculations>>>..

Please guide on this issue.

Hi Friends,
A company has an accumulated losses of about 100 lacs carried forward since many years.
Last few year 2021-22 the company had a book profit on which it has paid Tax under MAT
in 2022-23 it has a net profit of Rs 90 lacs because of booking the income against an advance lying in the books. The Management thinks since it has already an accmulamated losses so it shouldn't be paying the tax for FY 2022-23 as they are not aware of MAT provisions.

I am seeking an expert view to answer of the following questions(as the actual working may vary when computed after tax audit).

1. Is the company eligible to set off b/f losses in this case in a scenario when its boo profit is higher than the profit computed as per Income tax act or visa versa (i.e when actual tax as per IT act is higher than Book Profit/MAT)
2. If the company is still liable to pay the MAT in this case what benefit it is getting having an accumulated losses brought forward.

Please provide your views.

Thanks
P C Joshi