Dear sir/Madam
My question :
In May 2018 I made unregistered partnership in Bangalore with two partner and same time I applied for PAN card. After getting PAN card I too applied for GST registration and got the same. Process was going to start the business , but after few months my partner left banglore in the month of August 2018 and due to some other personal reasons we could not started the business. In simple, apart from PAN card and GST registration, no business have bee taken place till now i.e., no sales, no purchase related to business. Since there was no business hence I did not file any income tax return for applicable period and I was aware about the GST related compliance hence I have compiled with it time to time properly and cancellation of GST registration is also done in December 2018 it self.

But now after coming to know that we need to cancel the PAN card and it is mandatory to file income tax return irrespective of income for every partnership firm.

Please help me in this situation that what I need to do for proper compliance.

Thanking you

I.t. return individual status filed assess I.t return filed f.y.19-20.but cash on hand balance Rs: 12 lacs as on 31-03-2020 in accounting books and shown in balance sheet.
Question:
Assess limit for cash on hand balance.if any problems future.

Our company has received loan from an association of persons, whether our company is required to file DPT3 annually, pls reply

What is multiple taxation?...charging same tax twice on one product? OR...charging two different taxes on same product can also be considered multiple taxation?

DEAR SIRS :: I am an active member of registered RWA in New Delhi and RWA dutifully making receipts for all cash / cheque received...... My query is (1) In which head of account amount should be credited if a person gives cash/cheque over and above his yearly fixed subscription (2) How to make receipt for materials i.e. sign boards, chairs, tables, LED, computer systems etc. donated by individuals to RWA... Kind Regards

Will all other professions not specified in section 44ADA (like Teaching, Anchor and etc.) will be covered under 44AD? If not then how we should treat them?

My client is an anchor and her gross receipts are approx. 20 lakhs. I have been showing her income under 44AD for last three years taking margin of 50% to be on safer side. Please help with the correct treatment.

Do I need to maintain her accounts and show the exact margin along with submitting final accounts while submitting the return?

hello everyone

can cash deposited by partners in current account of partnership firm account be attributed as capital of partners. Total deposit on a single day is around Rs. 14 lacs. Likewise there are few more instances of cash deposits more than 2 lacs on single day by partners. Will this go for qualification in tax audit report?

kindly clarify

Sub: Aadhaar No. not available to be inserted in ITR VI fy 31.03.2020
For f.y 31.03.2020 ITR VI has been prescribed on ITR site in excel proforma on 22.09.2020, in this at Schedule-SH1 sheet C [SHAREHOLDING OF UNLISTED COMPANY], (Details of shareholders who is not a shareholder at the end of the previous year but was a shareholder at any time during the previous year ) a new column of Aadhaar has been added, since company does not has Aadhaar of many shareholders and they are not interested in giving now their Aadhaar no. as they are not shareholders. Please let me know what to be inserted against them in Aadhaar Column.

Respected Sir/Madam,

My query is
Which section is applicable for CFAs

Thank you

Which book is IDT is best for self study as well as in Practice ?