CA Deepak Saini

Can a trust be converted into private limited by share company and what is the process for the same.

Regards


Gyan Chand Agarwal

Where a firm closes its business there are certain Fixed Assets appearing in Balance Sheet like cars or weighing machine, AC etc. what will the position of Tax Liability on such Assets for Pre GST Period and Post GST Period?


Kiran RPN
23 May 2023 at 16:42

NO TDS on Software subscription?

Whether TDS to be deducted for microsoft azure usage charges?
It has to be deducted under 194C
But our vendor is disputing that there is no TDS as per

CBDT Notification No.21/2012
[F.No.142/10/2012-SO(TPL)] S.O.1323 ( E ) dated 13/06/2012

Isn't the notification clearly mentioning that it is for Acquisition of software?
Is it also applicable for normal subscription charges for a software?


VIKAS KUMAR SHARMApro badge

Sir,
one of my client's form 26as showing entry US 192 which is absolutely not belongs to him. How to rectify ?
regards
vikas


gauri agrawal
23 May 2023 at 12:13

Reply in asmt 11

Respected experts. How to file adjournment request online in case of asmt 10. Can we submit two replies for a single asmt 10 i. e one for adjoirnment and one final reply. Please guide.


Nisha Kathuria

Sir,

We have sold some goods (agriculture product) to govt. Agency. Agency deduced EPF and clear balance amount. its pending from govt. agency more then two years. so its my current assets or Non Current Assets


M Sairam

Dear Experts,
We are transferring a laptop having zero book value to an associate company for a consideration of 5,000. As per Sec 18(6) & Rule 44(6), GST payable is 1,503 as follows by higher of GST on sale (900) or ITC pertaining to remaining life (1503). Hence we need to pay 1503 on this sale.
However, I have below doubts.

1. Will it require E-invoice for this sale, We are already issuing E-invoices for other transactions.
2. While raising an invoice for this sale, Which amount of GST has to report in Invoice 900 (18% on 5,000) or 1503?
3. Whether the recipient is eligible for claim ITC? I think yes but which amount 900 or 1503?

Please clarifies the above doubts.


Nisha Kathuria
23 May 2023 at 10:31

Taxable & Exempted Sales under GST

Dear Sir

A person have Sales under GST taxable & exempted so while filling GSTR-1 can he need to show both sales means need to show exempted sales or note. exempted sales more then taxable sales
Please suggest


SamSue
23 May 2023 at 09:19

Beneficial Owner or Partner

Hello! All:

I need your help in understanding the term "Beneficial Owner" in an Indian Partnership company.

I would appreciate it if you can describe the "Beneficial Owner", benefits, and risks to the Partnership firm. If there are any risks, how to mitigate the risks to the Partnership Firm?

Also, if the Partnership Firm is planning to open fixed deposits or raise loans, how does an Indian Bank view the "Beneficial Owner" of this Partnership Firm from a risk management perspective?

Thank you.


Accoun tant
22 May 2023 at 23:27

PF Balance in Balance Sheet

Dear Experts,

If an Individual has two source of Income ( Salaried & Business)

While preparing the Balance sheet for the Individual , shall we include the EPF balance under Long Term Investment. ( Both Employer Share and Employee Share) - Balance as per PF Website

I believe ESI Contribution cannot be consider under Investment - Kindly correct me if Im Wrong.

Kindly Advise





CCI Pro
Follow us


Answer Query