Dear Sir,

I was filing a return U/s. 44AD from A.Y. 2020-21 where turnover was Rs. 20 lacs and showing profit as 8% . Now for A.Y. 2023-24 his turnover has increased to 1 cr and actual profit is coming to Rs. 5 lacs after adjusting all expenses.

I want to know can I switch back to preparing normal books of accounts and show profit of Rs. 5 lacs as selecting 44AD for filing return will result in higher profit.

Please help me in this matter.

Regards,
Divyesh Jain

One person met with a road accident and lay motionless for ten years and expired subsequently. On death he was awarded enhanced compensation on which interest an amount @20% as TDS.

Three high courts have opined that the interest on compensation is part and parcel of the compensation itself and is not chargeable to income tax since both compensation as well as interest thereon are capital receipt.

I have a similar case where the first award was received the return was filed by the assessee and refund obtained.
Now On the enhanced compensation, received later, condonation was applied for and received.
Can the assessee demand refund on the analogy that the interest is of capital nature and demand the entire tax deducted on interest?

I have taken loan of Rs. 20 lac from Toyota finance and purchased vechile in March 2023. But till date forget to create charge with ROC

1. The time limit of 120 days already crossed.
2. Is it mandatory to create charge with ROC.


Pls advice how I can create charge now.

Rajesh gupta

Dear Experts,

1 A company's vehilce has met with an accident.
2 This vehicle is used for business purposes.
3 The company has incurred some service charges also
4 The automobile dealer has raised the invoice in favour of Insurance company.
5 Now the query is :
a. Whether the company needs to deduct the TDS on these service charges.

pls clarify

If a company rents it's own machinery outside India for a certain duration of time and will bring it back to India then how will machine identification be done after machine is brought back.

Hello,

I am an editor and writer who provides his services to a tech media company. I file returns under 44ADA.

Now, I am looking to enter into a partnership with a mobile+accessories seller, local shop, which is a partnership firm. Each month, a fixed amount will be paid as salary to all partners.

1. Can I claim relief for online profession as usual under 44ADA
2. Can I also claim relief for mobile shop partnership firm under 44AD at the same time?
3. If the mobile shop salary from partnership cannot be claimed under 44AD, can I still continue to claim relief for online services as professional under 44ADA?

What else should I keep in mind?

Thanks.

Where should the profit earned by LLP transferred after finalization ? General Reserve ?

Please guide.

We have changed our company name with ROC and have also updated the change in PAN, GST, IEC & TAN. Can someone please guide how to update the same with EPFO ?

i have created sub user for e way bill and thought same will work for e invoice creation. But whille logging to e invoice portal e invoice tab is not working what to do

Sir/Madam


sir , we have not taken ITC Credit as per GSTR2B for June & July 2023 We paid GST as per GSTR1 without taking 2B ITC , now the said credit can be taken in August 2023 or later, at the same time credit ledger not showing ITC balance of June & July 2023