i need to record a fund transfer entry from usd account to euro account
but i am getting following error:-
Transactions can have only one foreign currency at a time

Hi,

Can a cement dealer opt for presumptive taxation under section 44AD?

I am referring to below :

44AD (6) The provisions of this section, notwithstanding anything contained in the foregoing provisions, shall not apply to—

(i) a person carrying on profession as referred to in sub-section (1) of section 44AA;

(ii) a person earning income in the nature of commission or brokerage; or

(iii) a person carrying on any agency business.

This says 44AD is not applicable to agency business. Is cement dealer termed as agency business under income tax?

Regards,

Dear sir, Recently I have Download Traces offline Correction file From
Traces can any one Please help me Passward format to open the File

DEAR CACLUBINDIA MEMBERS,PLEASE REFER ME A BOOK ABOUT MSME BANK LOANS,HOW BANKS PROVIDE LOANS ,TYPES OF LOAN, AND HOW TO PREPARE FINANCIAL STATEMENT OF A MSME FOR LOAN PURPOSES....

Sir,
A Gst registered dealer what is the meaning of 360 taxpayers profile in gst act.

Dear experts
Can I make TDS liability payment of multiple sections like 194c, 194I, 194J, 194Q etc in a single challan or should I do payment separately section wise to avoid the error and confusion. Request you all experts put your comments on this issue.

If I will make payment on a single challan of multiple sections then which section will be selected in challan, because there's one section can select in one challan.
Thank you

I submit refund application, the tax officer was reject our application due the following discrepancies.

1. Adjusted turnover not included the services and export sales with IGST paid.

The Adjusted Turnover is calculated by us on the basis of clause (E) of sub-rule (4) of Rule 89 of GST, which clearly says that the:

“Adjusted Total Turnover” means the sum total of the value of- (a) the turnover in a State or a Union territory, as defined under clause (112) of section 2, excluding the turnover of services;

and (b) the turnover of zero-rated supply of services determined in terms of clause (D) above and non-zero-rated supply of services, excluding- (i) the value of exempt supplies other than

zero-rated supplies; and (ii) the turnover of supplies in respect of which refund is claimed under sub-rule (4A) or sub-rule (4B) or both, if any, during the relevant period.’

please advise me how to resubmit the application with proper calculation

Dear Experts,

We are generating invoices less than Rs. 50,000 for one of our customers.

Goods against each invoice are transported to the transporter(railways) in separate vehicles. Say five cars carrying five different invoices are sent to the transporter in 1 single day.

However, they are transported from the railway track in one single consignment by the transporter. Goods against more than five invoices are clubbed together by the transporter in one railway rack for transportation.

Query:
1. Whether the supplier required to generate an e-way bill?
2. Whether the transporter will be required to generate an e-way bill?

1. ABC Ltd. ( T/O more than 10 Cr) has entered into a distribution agreement with XYZ Ltd ( T/O more than 10 Cr). XYZ Ltd will handle, transport, warehouse and distribute the products after receipt of the products on consignment basis on behalf of ABC Ltd.
2. The Distributor, XYZ Ltd, will deliver aforesaid products to sub-distributors (both T/O more than and less than 10 Cr) and invoice the sub distributors in respect of such delivery. On the face of the invoice it is mentioned that “XYZ is acting as an AGENT OF PRINCIPAL M/s ABC Ltd”.
3. Collection: XYZ Ltd, the distributor, will collect funds on or behalf of ABC Ltd from sub-distributors.
4. ABC Ltd. will pay distribution fees to XYZ Ltd as per the agreement.

In view of the above fact kindly suggest provision of section 194Q & 206C (1h) of IT Act, 1961.

My client's GST registrations was cancelled so i had put revocation of cancellation therefore the officer had issued online notice 2/3 times in this concern but it was not attended as i had no idea to check the notice in Gst profile therefore the officer cancelled the order. When I personally met officer he says its not possible for him to revoke the application now its cancelled and asked me to appeal to High Court. This is a serious matter pl guide as my client has collected money to pay Gst and behind for return filling and payment.