Hello Everyone!

How to retrieve demand notice computation from the online e-filing portal or otherwise? My mother has received a demand notice with no proper explanation to how they arrived at the demand amount. As, I live abroad I have no means of extracting the said information. So, please guide!
Also. the AY in the demand notice says 2016. Does that mean it AY 2016-17 or AY 2015/16?

Thank you!

Sir,
A partner ship firm working two partners.purchases of jewellery value rs:4 lacs name in partner name(invoice partner name) and payment through partner ship firm current account transfer.
Question:
1.above purchase of jewellery transactions treatment in firm and partner account show procedure.
2.purchases value loan form firm show accepted in it act.

I have paid builder Rs 59 .32 Lakh . Recieved Rs 56.20 lakh against principal amount and Rs 13.30 lakh against interest. Recieved less Rs 3.12 lakh against principal amount. What will be tax treatment

Mr X held agricultural land (anscestral) which was compulsorly acquired by NHAI for highway construction. X received compensation less TDS u/s 194LA. X doesn't have any other taxable income.


Q: Where to report this income in income tax form so as to claim exemption

Sir,
One of my client got expired last year and his son unknowingly/not informed about this fact for a month, as usual sent gift on occasion of my clients birthday out of his salary to the bank account of the deceased after death, as well as he paid from his account the regular maintenance charges/light bills etc

I have kept the same amounts under suspense account in my clients son account as will is not probated yet so before distribution of the wealth can it be shown as gift or withdrawals in books?

Please reply

Thanks in Advance

Regards

In a partnership firm there are three partners , Theirs profit sharing ratio is as follow respectively
A-50%
B-40% and
C-10%
Net profit for FY 2020-21 is Rs. 50,00,000
Now i want to transfer Net profit to partners capital account,
can i pass journal entry as below
Net Profit Dr. Rs. 50,00,000
A Capital Account Cr. Rs. 25,00,000
B Capital Account Cr rs. 20,00,000
C Capital Account Rs. 5,00,000
Please reply entry passed are true or False.

The Company has entered into a 5-year contract for use of software. The Cost for the same is Rs. 10 crores.

But the payment will be made in equal instalments over 5 years.

Whether the company can capitalize the cost of Rs. 10 crores in 1st year and amortize the same in 5 years?

For FY 2020-21
provision for expenses booked on 31st march 21 now invoice received with GST , can we take GST Input for expenses booked on 31st march .

Sir,

My employer (PSU) is deducting an amount (60 instalment started from this FY) towards excess House Rent Allowance (HRA) paid during the FY 2013-18 under head sundry deduction and not under HRA.

Sir, my question is, now how to treat this amount while filling income tax return.  It is pertinent to mention here that I have not take any benefit of HRA as I have my own house and tax was deducted during that period.



Please reply so that I can get income tax deduction for the amount deducted during this FY as my employer is not deducting this HRA recovery from my current year HRA.


I shall be highly thankful for you advise.

In a partnership firm there are three partners and there Ratio in firm are respectively,
A-50%
B-40% and
C-10
Net profit for the F.Y 2020-21 50,00,000 , i want to net profit transfer to partners capital account
is below entry passed are correct or wrong, Please reply.
Profit and Loss A/c Dr -50,00,000
To A Capital Account Rs. 25,00,000
To B Capital Account Rs, 20,00,000
To C Capital Account Rs 5,00,000