HI

Please clarify Insurance premium [Life Insurance] paid by Company [Partnership Firm ] for Partners is eligible to take expenses u/s 37(1)

what is procedure to calculate interest on capital of partners.

interest on partners capital should be given on Fixed capital or Fixed and variable capital also. Please reply

while making balance sheet of LLP should show Fixed capital and variable capital of making partners capital.

Dear Sir,

We are a limited company without listed of share in Market.
One of the our shareholder is also company employee and company wants to taken loan from that shareholder .

so kindly guide to us can company taken loan from share holder also refer section.

Thanking you

Sir,
It assessee some shares transaction in f.y.2014-15. investment amount through on different cash loan un secured loans received from different persons.
Question:
Different cash loan amounts from different persons sec 68 provision applicable in it act.

Dear Sir,
I want to know weather works contract receipt comes under sales a/c or direct income A/c?

Because, in VAT bill there was a bifurcation of labor bill and the material bill. And we considered material bills under sales and labor bill under direct Income.

But in GST there is no such bifurcation. now how should we consider the contract Receipt?

Thanks in advance
Sowmya Santhosh

My wife is a salaried person and she got Intimation u/s 143(1) for ITR2 of A.Y. 2021-22 . It shows Opted for 115BAC : As provided by Taxpayer (yes) , As Computed u/s 143(1) (No) .

ITR2 is still showing under process in income tax portal. What should i do ?

Client : Dairy Industry
We as a supplier, supply Milk to Various Big dairy plants (Customers). Our Milk tankers after reaching the location, wait for their turn for Lab testing of Milk.
It took 2-3 days.
After Lab testing our "Milk taker" is accepted and then we came to know the nutrient content received by our customer. According to those nutrient content we raise invoices to them.

Here we can not Raise E-invoice (IRN) during the dispatch of MILK Taker as we don't know the actual deliverable at the customer's location. And it is fact that the E-Invoicing window opens up for 24 hours only.



So what can be done to comply with the law?

Regards

Two invoices were raised in the month of Oct 2021. First invoice was on 01/10/2021 & second on 31/10/2021. However only the second got reported in retrun. As such the customer the customer did not get credit for first retrun.
Q1. How can this be rectified through return
Q2. Interest and penalty to be paid (tax amount IGST Rs 86,400)