Dear sir,
Can we expect tax audit due date extension

Thanks
Nikhil

I.t . Assess interest received (rs:5505+35,215) sb and fd from bank.this amounts Assess p and l account credit or capital account credit is correct method.

Assess Rs:1 lacs rental income from own property.but Assess bank account credit rs:25,000/- remaining balance Rs:75,000/-(25,000× 3 ) assess relatives bank account credit.
Questions:
1.Above transtration allowed in i.t.act.
2 assess rental income rs:25,000/- or 1 lacs per month in i.t.act.

Can I as a sole proprietor invest my profits into equity/mutual funds on the company name, will this show as assets on my balance sheet and can this be a legitimate business expense to minimise my taxable income?

DEAR SIRS :: THERE IS GREAT CONFUSION ON ADDING TCS ON TAX INVOICES....
(ONE GROUP SAYS ) IS THIS ON TAXABLE VALUE BEFORE TAX OR
(SECOND GROUP SAYS ) TCS SHOULD BE ON TOTAL VALUE OF INVOICE ( TAXABLE VALUE + GST )......

I ALSO HEARD THAT TCS ALSO REQUIRED TO BE DEDUCTED AND DEPOSITED ON AMOUNT RECEIVED FROM PARTIES WHERE SALES WERE MADE TO PARTIES PRIOR TO 30-09-2020 BUT WHO CROSSED 50 LAKHS SALES TILL 30-09-2020.... PLEASE CLARIFY... REGARDS

Dear Experts, I have a small query regarding section 270a, if someone has not filed his return does in that case will it be considered as Under reporting only or can it also be considered as Misreporting?

Thanks in advance

my friend has transport agency , he registered in gst , he has no own vehicles but he is hiring vehicles for transportation and getting commission on each trip , He is raising transport bill on total amount to customer on rcm basis , he is filling gstr-1 and gstr -3b , he has done approx 50 lakhs worth bills raised in fy 19-20 As per gst turn over is 50 Lakhs but he has got commission on each trip minimum 200/- . How can he show the turn over in income tax , as per gst turnover 50 lakhs but he has arrived income nearly 2 lakhs( commission) on total year because he has hired the vehicles from others.
Please give your valuable suggestion on , how can he show the income as per gst turnover or commission basis , customers transferred the total bill amount in his bank account sir .

What is the due date of filing Income tax return for F.Y. 2019-20 (A.Y. 2020-21) ?

How much tds rate and limit rent on commerical building in I.t. act.
service tax applicable for rent on commerical building.

If rent is more than one 1 lakh from each tenent whose PAN address etc to be given. To shoe 2 property and give details of tenent separately.