Please explain the exact meaning of this proviso to Sub-section (3) of Section 115BAA.

"Provided that where there is a depreciation allowance in respect of a block of asset which has not
been given full effect to prior to the assessment year beginning on the 1st day of April, 2020,
corresponding adjustment shall be made to the written down value of such block of assets as on the 1st day of April, 2019 in the prescribed manner, if the option under sub-section (5) is exercised for a previous year relevant to the assessment year beginning on the 1st day of April, 2020."

Respected all,
Plz. advice/ clarify regarding itc.,A business concern gifted to a winner on coupon which given at the time of sale. whether business org. get itc on such items which were purchased for gifted to the winner.

Patership firm started in 18-19 but there is no business .but they have spent lot of expenses .so we decided to capitalise and charge depreciation.so unabsorbed deprecation we can carry forward even though return file after due date.is it ok l.ast date to return file June 30 th.is the treatment is correct

Turnover of a partnership business for the FY 2019-2020 is 88,75,600/- and incurred a loss of Rs. 39400/- before charging partner's salary.
1) Whether tax audit is required or not?
2) If required please mention the section.
Thank you.

dear experts,
pls let me know about the act for giving interest free loan of Rs. 40000 to an employee. How it can be treated in accounting books or we can give the same as advance salary. Employee will repay it from monthly salary for 20 months. Kindly confirm what will be appropriate?

thank you

Is there is any new amendment for the rate of TDS for current Financial Year ?

Dear Sir,

My question related to my business so sir we are supplier of sand , bolder and other construction material . and for this we using my truck, 7 other vehicle for collecting and delivered the same .

so for using vehicle we make maintenance, related expenses.

so can i Claim ITC on the same regular repair and maintenance ??

WILL PAN REMAIN SAME AFTER CONVERSION OF OPC INTO PVT LIMITED?

Sir/Mam,

When Gst returns filed in the month of April 2019 by mistakely missed two bills(one bill B2b and other B2c), Now we are finalizing accounts it is found , payment to be done against that bills.

Can I show this two bills in may 2020 Gstr 1 and GSTR3B returns, and What Rate of Interest applicable for payment or other any option.

Please guide me in this regard

Thanking you,
Archana

We are Manpower service providers and main HSN Code is 998513 Contract Staffing Services

Sometimes we provide services of transportation from place of residence to place of work for contract staff covered under 998513

My question is for this transporatation service HSN code will 998513 only or 996601 - Rental Service of road vehicles ...