Dear Sir/Mam,
Good morning,
While making sale free of cost at this time we make input credit reverse on product & make expense as cost of sample. we done this in books but we forgot to reverse it in GSTR-3B FY 20-21
april-2020 but at the time of filing GSTR-9 & 9C we have shown this difference and Paid DRC-03 by bank. now i just want to know journal entry of DRC-03 in my books.

please help me in this regard.

Dear Sir, I heard from someone that we cannot write the name of a Private Limited company in short Pvt. Ltd., Is it forbidden in income tax?? Thanks in advance

Hello! I'm currently pursuing B.Com (Regular Course). I'm now in the 4th semester, whose exams have been scheduled in June 2022. My articleship joining date falls on first week of April 2022. I will not be attending classes as I've already reached the minimum requirement of attendance. And I've planned to convert the course to correspondence in the third year (5th and 6th semesters).

In this regard, is it necessary to get NOC from the college and submit Form 112?

If yes, should I submit the form stating additional course as "regular"?

And after converting into distance course, should I need to submit Form 112 again?

what is Annual returns of corporate .

Dear Sir / Madam,

What to do if the dividend income is remained to be disclosed inadvertently in ITR of AY 2021-22 and now the due date of revised return is also over?? The TDS is claimed while filing the return and now this mistake is discovered now. The return is yet to be processed by the dept.

Kindly suggest the solution.

Thanks & Regards,
Suraj

what is Annual returns of Income tax for Companies and LLP.

what is Annual Returns of GST for Companies and Firms/LLP.

Hi,

We have received the order against our SCN and in the same, the officer has denied our input tax credit as it was not recorded in service tax returns. The input tax credit invoices are of December 2016 and January 2017.
My question is, from when do we calculate the interest on the denied ITC and at what rate? I believe there's two rates for paying service tax interest. (24% if service tax is collected and not paid and 15% if service tax not collected and not paid). In which situation do we exactly fall?

IF CORPUS FUNDS ARE PUT IN FD, CAN TRUST TAKE AN OVERDRAFT ON THAT ?

A. Background: -

i. We have two buyers and one seller combination for filling form 26QB for the purchase of under construction Immovable property worth more than 50 Lakhs.

In the cost sheet provided by the builder there are two parts as follows-
a. Property Value including Car Parking amounting to 52 Lakh
b. Extra Charges including Club membership Charges, Maintenance charges etc. amounting to 3 Lakh

ii. 1st buyer had made the initial booking with the initial token application money (1 Lakh) and have provided form 16B to the deductee for the tax deducted u/s 194IA, however the property value reported in filling form 26QB is 52 Lakhs and enabling the option 'YES' for Whether more than one Transferee/Buyer and Payment Type as 'Installment'.

iii. Payment towards next installments will be made partly from own bank account (as down payments) and partly from bank (as loans) by both the buyers according to their individual ability to make payment.

iv. TDS will be deducted on each payment by the person making payment towards the installment and form 26QB shall be filled accordingly.

B. Query: -

1. What will be the property value in 26QB? (52Lakh or 55Lakh)
2. What would be the amount on which TDS would be deductible? (52Lakh or 55Lakh)
3. Whether the property value reported (52Lakh) while filling form 26QB (as discussed above in point A.ii) for the initial tax deducted on application money by the 1st buyer was correct or it needed to be shown proportionately between the two buyers?
4. What will the 2nd buyer show as property value while filling form 26QB when he will make subsequent payment towards the installment? - (52Lakh or 55Lakh / proportionately)