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Dhirajlal Rambhia
24 June 2024 at 14:26
Posted On : 24 June 2024
In Reply To :

Income under the head- Salary

Living allowance to the extent of actually spent is tax-exempt.

Dhirajlal Rambhia
24 June 2024 at 14:24
Posted On : 24 June 2024
In Reply To :

SECTION 194IB OF INCOME TAX ACT

Adjust the loan amount receivable against the debtors balance, in father's books of account.

raghavendra b
24 June 2024 at 14:21
Posted On : 24 June 2024
In Reply To :

SECTION 194IB OF INCOME TAX ACT

THANK YOU FOR REPLIES,

THEN HOW SET OFF DEBTORS BALANCES AMOUNT IN LOAN ACCOUNT OF HIS SON

THANK YOU ONE SECOND SIR FOR YOUR PATIENCE

REGARDS

Dhirajlal Rambhia
24 June 2024 at 13:57
Posted On : 24 June 2024
In Reply To :

SECTION 194IB OF INCOME TAX ACT

1. Not mandatory.
2. Can't deny.
3. No. Amount received in bank account.

raghavendra b
24 June 2024 at 13:38
Posted On : 24 June 2024
In Reply To :

SECTION 194IB OF INCOME TAX ACT

THANK YOU SIR YOUR VALUABLE REPLIES,

1. IF TREAT AS LOAN ACCOUNT IS THERE ANY INTEREST PAYMENT TO HIS SON FROM HIS FATHER

2. IF FUTURE WILL BE QUESTION RAISED AGAINST SOURCE OF HIS SON'S TRANSACTIONS DIGITAL TRANSACTION WILL BE THE SOURCE.

3. INSTEAD OF RECEIPT ENTRY JOURNAL ENTRY WILL PASS TO SET OFF SUNDRY DEBTORS BALANCES.

REGARDS


 



 

B. vignesh
24 June 2024 at 13:26
Posted On : 24 June 2024

Income under the head- Salary

Cos of living allowance is taxable or not for working in abroad and the salary is received as Indian money in Bank account maintaining in India

CA R SEETHARAMAN
24 June 2024 at 13:10
Posted On : 24 June 2024
In Reply To :

How claim ITC from those who is Return quarterly.

You are welcome...
...

ARCHANA
24 June 2024 at 13:08
Posted On : 24 June 2024

Deemed Acceptance of LUT Means

Sir/Mam,

We have applied Lut FY 2024-25 in March 23-06-2024 and Received ARN Number. we are using same ARN Number in Export Invoice

Yesterday we have received Deemed Acceptance of LUT Form GST RFD 11 with Order Number.

Deemed Acceptance LUT Means,

My doubt is LUT ARN Previous we have to use the same in Export invoice or Deemed Acceptance LUt Order No.

Please kindly explain and clarify my doubts

Thanking you,

Ashok
24 June 2024 at 12:59
Posted On : 24 June 2024
In Reply To :

How claim ITC from those who is Return quarterly.

Thank You so much Sir,

Dhirajlal Rambhia
24 June 2024 at 12:56
Posted On : 24 June 2024
In Reply To :

SECTION 194IB OF INCOME TAX ACT

Consider it as loan account.

Dhirajlal Rambhia
24 June 2024 at 12:45
Posted On : 24 June 2024
In Reply To :

T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances und

How to rectify T_FV_6351 Applicable and Mandatory for Financial Year 202324 onwards 'Other special allowances under section 10(14)'.
While preparing correction statement using RPU 5.1 version the above error occurs. It’s because a value (0.00) which is mandatory is not appearing in the output file. Many complaints have been raised but it will be corrected only in the next update. Hope it will be made early as possible. Till then this error can be cleared manually.
Step 1
Open the text file which is created after generating FVU in Notepad. (Usually the file is named
like 24QCQ4.txt. Here 24Q is the form type and C represents correction and Q4 is the quarter.)
Step 2
Locate the Line No which is mentioned in the error file. Column 1 in the above screenshot. Here
the error is in Line No. 3. The error line is marked within the box.
Step 3
Count the circumflex symbol (^) from the last. Add 0.00 after the 8th circumflex from the last.
Step 4
Click file and select save the text file with same name. Select Yes to replace the file in the next
window.
Step 5
Open RPU folder and open Standalone FVU 8.6 file.
Step 6
Select all the necessary files and locations as usual
Step 7:
Click validate and the FVU will be generated successfully.

raghavendra b
24 June 2024 at 12:43
Posted On : 24 June 2024
In Reply To :

SECTION 194IB OF INCOME TAX ACT

THANK YOU SIR,

THIS MISTAKE HAPPENED BEYOND OUR NOTICE, NOW THIS TIME ADJUSTING DEBTORS BALANCES AGAINST AMOUNT CREDITED BY HIS FATHER FROM HIS SON ACCOUNT.

HOW TO TREAT HIS SON ACCOUNT IN BOOKS ACCOUNTS ASSETS FOR HIS FATHER LIABILITY TO HIS SON.

THANK FOR YOUR SIR ONE MORE SUGGESTIONS

REGARDS

Dhirajlal Rambhia
24 June 2024 at 12:38
Posted On : 24 June 2024
In Reply To :

SECTION 194IB OF INCOME TAX ACT

For all the digital transactions you must keep the complete record, otherwise AO will consider it as income in the hands of receiver of the amount. What is the reason to collect the amount in some other person's account, when father has the account of his business? It will be difficult to convince AO, and chances of penalty arises.

Ganesh Potturi
24 June 2024 at 12:27
Posted On : 24 June 2024

T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances und

Hi, Can you please help me with this error occurred when filing of FY23-24 24Q Individual.

T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances und

raghavendra b
24 June 2024 at 12:12
Posted On : 24 June 2024
In Reply To :

SECTION 194IB OF INCOME TAX ACT

THANK YOU SIR FOR YOUR QUICK REPLY,

DEBTORS AMOUNT RECEIVED BY SOMEONE OTHER THAN DEALER IS HARMFUL, ONLY SINGLE ACCOUNT TRANSFERRING AMOUNTS IS THAT ANY PROBLEMS SIR, THE AMOUNTS CREDITED TO SON ACCOUNT IF HE HAS TO FILE IT RETURNS,
ALMOST THE SALE AMOUNT RECEIVED BY THEM IS DIGITAL TRANSACTIONS IN SALE BILL THEY HAVE MENTIONED PARTY NAME AND ADDRESS WHILE TALLYING BALANCES ITS VERY DIFFICULT.

REGARDS








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