Hello,

I am posting a question here on behalf of my friend.

My friend has a 2 year old private ltd company, with annual turnover less than 25,000 Rs/-.

His CA and Auditor is charging 23,000 Rs/- per year for annual compliance, ROC and ITR. All of documents and financial data is maintained by my friend’s company and not CA.

Is 23,000 Rs/- worth? Is there any other alternative to completing annual compliance, ROC and ITR for less charges?

Any suggestions, questions, comments are most welcome.

Regards,

my annual itr is 18 lakhs .can i buy house of 35 lakhs .will i get income tax notice for that .

If my business income is more than Rs.2,50,000/- during AY 2018-19 and I have to declare my income U/S.44AD. Am I liable to maintain books of accounts and fill ITR 3 ?
Am I also required to fill Balance Sheet and Profit and Loss a/c in ITR 3 ?

In some confusion with the bank i mistakenly entered wrong amount in my 80 E deduction in my form 16 and in my income tax return 80 e deduction i entered different amount which is correct. so there is a difference in my form 16(80 e) deduction amount and ITR. what should i do for this mistake?

My total income consists of retail trading business and commission from LIC. The commission from LIC for AY 2018-19 is Rs.75,000/- and from retail trading business is 3,00 lac. My I use ITR 4 and show retail trading business income u/s.44AD and show entire commission as Income from other sources ? Or I will have to use ITR 3 ?

suppose i have received a amount of 1000000 from my family in the form of sale of land and i convert that 10 lakhs into a fd in any bank. and the interest receivable on that fd is taxable or not if i submit form 15G/H.? please expalin me?

I used to file ITR 4S for my relative since previous in 4S there was no separate column to declare turnover from the profession, I used to declare consolidated turnover in a single column which was designated as turnover u/s 44AD and I used to declare 25 % profit on turnover

Now previous year, also I followed the same procedure, after which AO initially sent an email to me which stated that there is a disparency in my ITR as in 26AS TDS is deducted for professional fees but I have not declared any professional fees in ITR, after which I closely studied ITR 4 of 17-18 and realized that in the ITR form 4 17-18 there is a special column for Presumptive income under 44ADA (Profession) in which I had not filled in anything

Now I have got email notice u/s 143 1 a and I have been asked in e proceedings to submit my reply to the proposed addition of income by AO since as per 26AS 86000 were my Gross receipts from profession which I didn't mention in the column Also, it is expected that i should revise my return

my question is should I reduce receipts from Trading and add it in professional receipts which is actually more than 86000 (around 600000 lakhs) so what should I do

option 1
add 86000 as professional receipts, keep trading gross receipts unchanged at 24 lakhs

option 2

add 600000 as professional receipts, change trading gross receipts to 19 lakhs

option 3

visit officer (may involve risk as my case may be highlighted before him)

option 4
you suggest please if any other option

How can TDS recovered on advance paid towards professional charges be adjusted/ refunded, on failure of contract and on refund of advance ?

Read more at: https://www.caclubindia.com/experts/tds-on-advance-payment-to-professionals--620920.asp

My daughter has received Lump Sum from her Ex husband in FY 17-18 . Please advise
1) Which ITR to use to report this receipt
2) In which head this should be entered in ITR
3) I have been advised it is not taxable from what I have read in net.


Read more at: https://www.caclubindia.com/experts/ask_query.asp

IF I HAVE PUT AN EXHIBITION FOR THE PURPOSE OF ADVERTISEMENT, DO I NEED TO DEDUCT THE TDS ON THAT AMOUNT.