Hi Everyone

What if I redeem the part of bonds issued by REC/NHAI before the period of three years after investment which was claimed under 54EC.

If Tax Audit is required in following case :-
Sales Turnover in FY 2019-20 : Rs 1.45 cr
Whether Net profit is >= 8% (or 6%) : No
Whether Cash Receipts or payments greater than 5% each : No
Whether profit declared as per presumptive taxation scheme in any of the five preceding years : No
Whether opted for presumptive taxation u/s 44AD : No
Whether Tax Audit applicable? If yes, under which section?
Please confirm that Net profit percentage below 8%/6%, or even loss would not force a Tax audit in this case!
Thanks.

If a seller insists that he will give a B2C GST invoice and not B2B, meaning he will not mention my GST number on the invoice, can I take any action against it?

TCS to be deducted on GST amount also and what is rule to deduct TCS.

Dear Members,
How much % can we expect the tax audit due date extension,

I think 99% for one month i.e. 30th Nov

Thanks
Nikhil

When we create Partnerahip /Joint Venture between 2 individuls is it necessary to create joint bank account? As I am independant contractor and my friend wants to have a partnership with me for several projects . Please guide the needful

Thanks and Regards.

Income tax audit individual due date comfirmation 31st oct or 31 th nov plz send date

Respected Sirs,

Kindest regards to all of you.

I shall be highly obliged for your guideline.

I have to file GSTR-3-B for the month of Sept 2020 due date of which is 22-10-20. With effect from Jan 2020 till today there is some left out ITC also which has not been taken till today in any 3-B . As I have to take the left out ITC, I would like to know as from which month the left out ITC can be taken into 3-b for the month of September 2020.

I am not able to get DM Circle rate of 2001-2002 of Jankipuram areas ALIGANJ Lucknow so I may able to caculate Capital gain on sale of land.

Assess sales of turnover f y :19-20
rs:60,00,000/- with gst 18%tax rate rs:10,80,000/- total rs:70,80,000/-
Question:
Assess I.t. returns filed sec 44ad 8/6 profit declare applicable sales turnover rs:60,00,000/- or 70,80,000/-.