CA R SEETHARAMAN's Expert Profile

Queries Replied : 42506

I am a retired Executive Director/Finance of a Navratna PSU.

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Hnr1593 says : showing more profits in FnO trading to avoid audit
I made loss in FnO trading and the turnover is around 40 Lacs. Since profit is less than 6% of turnover, i think the audit is required, But i don't want to carry forward the losses to avoid tax audit as i don't know the process and charges for it. In this case, is it ok if i file my trading profit as more than 6% of turnover and pay the applicable tax on that? Will the ITDep still mark my return for scrutiny even though i pay the tax for shown profit?

Paresh B. Rawal says : Section 270A reply
Can you please forward me letter format for show cause notice for reply for notice under section 270A on capareshrawal@yahoo.co.in. Would be of a great help

Amit D says : Section 54F
Is there any new update to Section 54F whereby, we can't invest the full consideration received to buy a Residential Property and claim exemption for the Full Amount?

abhinav says : Gst Re-registration
The partnership firm that has canceled its gst registration, but the PAN number is still and the ITR is also filing,On 30 September 2019, the gst registration was canceled, and even the partnership firm is no more, partner are separated, how can you get the registration registered again? Tell me procedure to get gst registration again as sole proprietor

Subramanya says : TCS applicability on Deemed exports
Dear Sir, Can you please clarity whether TCS is applicable on Deemed exports ? With regards, Subramanya