A person received cash as refund of advance money say rs 1,00,000=00. Does he has to pay tax on it u/s 68, if he shows in his books. Reason of not paying tax is section 68 is applicable if A.O is not satisfied with reason with cash deposits. Also is concealment of income applicable?

Sir,
We have a project of 50 lakh of a client.the business is training of food preparation..client is already having an llp.an investor is ready to fund for 20 lakh.the client is planning to incorporate a company by shareholder as llp and investor and existing partners of llp as directors.the shareholder other than investor is not bringing amount in cash.thy are intending to convert the technical knowledge to share .so how incorporation can be done.either first incorporate the company and then raise share capital by technical knowledge as consideration other than cash and investor amount.?pls guide.pls

Hi CA Club Expert Team,
I want to understand everything about Statutory Audit—on whom it is applicable, whether there are any threshold limits such as value, turnover, profit, or loss limits, whether there is any specific due date for filing returns, and what compliances are required. any form name Please explain all these points in a point-wise manner.

My second query is: In general, for any Private Limited Company, Public Limited Company, LLP, or Firm, which method of Cash Flow Statement is followed—the Direct Method or the Indirect Method?
I want to know which method is typically used for internal reporting such as weekly or monthly cash flow reports for management, and which method is required or followed during audits.
Please explain point-wise with suitable examples.
Thanks & regards
Deepak

I HAVE TAKEN TRANSPORTATION SERVICES ON WHICH RCM LIABILITY IS THERE. BUT SUPPLIES ARE EXEMPT UNDER GST. AM I LIABLE TO PAY UNDER RCM , EVENTHOUGH MY SUPPLIES ARE EXEMPT?

Urgent
Dear Sir,
we have made an export for the month of april 2025 under with payment of igst.In further E.invoice igst shown for Rs.188151.84 but in shipping bill not mentioned in this amount,but once LEO shipping bill generated customs officials says can not amend in this regarding.is there any possibility to get refund and any procedure available in this regarding?

A person received rs. 1,00.000=00 in cash as refund of advance money given for purchase of property, as purchase didn't happen. Should he offer rs. 1,00,000=oo u/s 68 , since he cannot get confirmation from person refunded money. the same cash has been deposited in bank.

Sir / Madam

We are a LLP registered in India, doing live events & shows in India & abroad. We are taking services for foreign companies for consultation for events to be done in foreign countries.

The service provider is a foreign LLC (Dubai Co), where consultancy service was provided for a project in Dubai & other countries (Excluding India) & the Dubai LLC does not have any PE in India as well.

So do we have to Deduct TDS on the remittance made for such services ?

If TDS is not to be deducted, then what documents are to be compiled to initiate the remittance ?
& If TDS to be deducted, then at what rate and what documents are required for the same. ?

RCM of F. Y. 23-24 claimed in F. Y. 24-25 need to be reported in 6A1 of table 6? or only normal ITC need to be reported? With explanation

My residential address in Form 26 AS was old address. I want to update the present residential addrfess in Form 26 AS. Please enlighten me as to how to update my residential address in Form 26 AS ?

Case study showing business receipts, cash deposits, miscellaneous payment, as in favour of assessee showing it is done in personal nature and with lack of knowledge and mere rotation of fund