I want to kbow about finalization accouts. Which entry will be done .
Please explain in detailed .
Then how to count tax . How to do entry of tax in finalisation entry.
Thaank you.

Hello Sir,
Mr X is having income from
1 . Interest on Deposit. 2.00
2. Commission from LIC. 0.25
3. Income short term gain 1.00
4. Income from Intraday 0.25
5. Income from LT Gain ( exempt)
6. Income from Zerox/ typing. 2.50
Total 6.00

My question is
1) Income from LIC commission is business income or income from other sources ...?

2) for Income from business / Zerox . and Intra day profit
. Can I show in ITR 4 ( u/s 44 AD) or ITR 3 ?
No books maintained for Zerox business.

3 ) 2 years back ITR 3 filed .

So i have to file ITR 3 or ITR 4 ?
Please guide for this and for lic commission where to be clubbed .

Thanx for reply .one my small query is while filing return WHICH BUSINESS CODE TO BE SELECTED ....

my brother received receipts with tds deduction under 194jb, he is an ISI AUditor...which section applies to him 44AD OR 44ADA......IS ITR 4 TO BE FILED?
HOW TO DECLARE INCOME

In respect of shares which are proposed to be issued on a right basis, existing members would have a right to renounce shares likely allotted to them. If the existing shareholders renounce their shares then these shares will be allotted to the renounce first time therefore no transfer will take place. I cant understand this paragraph.

The bank is waiving Rs. 2.00 crores out of Total outstanding of Rs. 5.00 crores in OTS on working capital/Term loan and wishes to deduct TDS under section 194R on Rs. 2.00 crores. Can anyone clarify if section 194R is applicable on it and if not, how to convince the bank that it is not applicable. The assessee doesn't intend to take this amount to income as there are judgements of Supreme Court that amount waived is not taxable as business income and the assessee has carried forward business losses also sufficient to cover the amount of Rs. 2.00 crores.

Further, whether certificate under section 197 can be got for nil deduction under section 194R.

Can we apply for advance ruling for the non taxability of income and nil deduction of TDS in this case.

Dear All,

My company is a limited company registered under GST. We have taken many properties on rent for residential purposes (for our employees) across many states. Our company has registered its Delhi office as the only place of business under GST purpose. Now my query is whether we will be able to take the input of GST paid on RCM for the properties situated outside delhi?

Prompt response shall be highly appreciated.

I have taken Casual registration in Himachal branch which was expired on 30th June'2022. But I am not able to file GSTR1 & also unable to view GSTR2B/2A summary of June'2022. Even raised ticket on portal for the same query. But its not yet resolved by them.
Please help me with same.

Individual has received salary for services rendered in India in Indian Rupees and also in US Dollars. TDS has been deducted by Employer on salary in Indian Ruppes and also US Dollars. However Form 16 shows only salary in Indian Rupees.

My question is now how to show alary received in US Dollars in Return of Income ?

As per recent notification from GST, the hotels are required to charge 12% if the room rent is less than 1000 per day.

https://www.cnbctv18.com/economy/gst-council-meet-hotel-rooms-below-rs-1000-per-day-to-attract-12-percent-tax-13971862.htm

Scenario 1 - In case, we bill directly to Students or Working professional.
Property type - Residential
a. Does this apply to Hostels as well?
b. If No, what HSN/SAC code to be used for Rental invoices

Scenario 2 - In case, we bill directly to Students or Working professional.
Property type - Commercial
a. Does this apply to Hostels as well?
b. If No, what HSN/SAC code to be used for Rental invoices

Scenario 3 - In case, we bill directly to Private Limited companies who pay for their employees. Property type - Residential
a. What GST percentage we need to charge to the companies 12% or 18%.
b. Will this be exempt in this case?
c. What will be HSN/SAC code to be used.

Scenario 4 - In case, we bill directly to Private Limited companies who pay for their employees. Property type - Commercial
a. What GST percentage we need to charge to the companies 12% or 18%.
b. Will this be exempt in this case?
c. What will be HSN/SAC code to be used.

I would request your expert thoughts and directions on above scenarios

I am a gst registered person and paying rent of Rs1924/ for my resident. Will I have to pay reverse gst on rent from 18/7/2022.please clarify in details the notifications?