I want to Gift approx Rs 10 lacs to my daughter. would like to know if any TAX applicable to her on receipt of money. She is a student and does not have any income.

also , do I need to prepare any document of Gift.

Kindly advise.

Is it necessary to submit 3CB & 3CD on before 31/08/2022 in the case of Tax Audit

sir,
While checking 2B, There is an input in relating to repair of car which is used by Owner for
business purpose .
can we claim that input
with regards
Binu

respected sir,
there is no VAT on cloth in andrhra pradesh in pre-GST regime. so no question of transitional credit relates to state tax (VAT). dealers dealing in textiles (not ready mades or made ups) purchased cloth from companies directly from states like gujarat or maharastra with purchases coverd by invoices. now the cloth is taxable under GST from 01-07-2017. can these taxable persons claim central taxes or duties paid on those goods as transitional credit which are held in stock as on 01-07-2017.please discuss
thanking you

Sir,
A Gst registered jewellery business Regular scheme dealer sales of jewellery value rs:1 lacs and hallmark charges collection from customers rs:1000/-
Question:
Dealer sales of jewellery value includes or exclude hallmark charges and tax applicable rate in gst act(3or 18) percentage.

I am Naynesh from Ahmedabad.

I am a professional. Since 4 years I have filed my tax returns under section 44ADA. Now in P. Y 2021-2022 , I have incurred Speculative Loss (intraday) approx 20 Lakhs as well as have professional income of 10 Lakhs. Turnover from Speculative business is more then 1 crore(Aggregate of Positive and Negetive difference).

Now my questions are:-
1) Tax Audit mandatory for speculative?Can we look into the 10 crore limit of tax audit?
2) If audit is mandatory then what is the tax treatment of professional incomes in tax audit and tax return.
3) Can I continue my professional incomes under section 44ADA by showing 50 percentage profits.
4) Is there any mandatory requirements of to include professional incomes in my tax audit turnover.

Please all people guide me on this.

Dear Sir,
I request you to kindly clarify below points. I have income from house rent and interest from FDs. My interest income may exceed 20 lakhs and house rent may be around 5 lakhs. I would like to know is there any other tax rules I should follow if my income from interest is more than 20 lakhs. Please clarify.

Regards,
Rajanna

I HAVE RECEIVED FOLLOWING MAIL FROM MCA REGARING INCORPORATION OF PRIVATE LIMITED COMPANY his is to inform you that in terms of Rule 10 of the Companies (Registration Offices and Fees) Rules, 2014, the Form SPICe(INC-32), Form SPICe MOA(INC-33), Form SPICe AOA(INC-34) dated 05/08/2022 filed by you has been examined and marked as Sent for resubmission with the following remarks-

1. Provide the significance for the proposed name "MRS".
2. The address mentioned in the SPICE+ is incomplete viz.
not having vital details like House no. / Flat no. / Plot no. / Road / Khasra / Khatauni etc. Provide precise
location details to enable service of documents at the mentioned address. Attach another documentary proof with
complete address along with NOC. In case of rural areas not having exact / precise location in the utility bill,
start with C/o (owner of the premises) in the registered office address details.
Please share how to resubmit the form again and how to mention name significance.?

Respected Readers
Partnership Firms books of account getting audited from AY 2017-18 to AY 2021-22 for continuously 5 years. For FY 2021-22 firm turnover is 16 lakh, whether Tax audit will be applicable or Can file complete ITR with profit less than 8% .

Please Guide Friends

Dear Sir,

Financial Year 2019-20 We have filed ITR under section 44AD declare profit 8%. In Financial year 2020-21 Turnover is Rs.45 Lacs and profit is 4.6% Filed the ITR after audit under section 44AB. Financial year 2021-22 Turnover is Rs.73 Lacs Profit is 8.34% Can we go for 44AD or need to audit please suggest.