I have query about ifrs . What is the ifrs .

The company incurred a loss in FY 19-20 Rs 10 Lakhs. This was the first year of operation for the company. The book loss as well Income tax loss is same.

Whether the Differed Tax Asset has to be created for FY 19-20 in the books?

as per my CA BDA/society allotted site residential property since they have civic aminites, where as revenue sites , land, plot are not included. He filed ITR under section 54 to save the LTCG from sale of BDA site invested in purchased of FLAT. I have followed all requiement of 54F still he filed under 54. I any notice rised by AO , can I convince him .

Respected Sirs,

Please guide me and oblige.

I have to file GSTR-3-B for the month of Sept 2020. I have not filed as yet due date being 20th Oct 2020 because first of all I have to check GSTR-2-A for the month of Sept 2020. If some ITC is found therein and is not existing in my books, I will book the said ITC in my books of accounts and then I will file GSTR-3-B. Am I right or wrong on this issue. Please guide me and oblige please,

Dear Sir(s)
We understand that Stamp paper- judicial / non juidicial - are exempt from GST. Banks when purchase these stamp paper from government vendors, do not pay GST. When bank use this stamp paper for issuance of Bank guarantee for their customer they only recover the cost of stamp duty.
Auditors are now stating that though stamp paper is exempt from GST, when these stamp paper is used at the time of issuance of Bank Guarantee, it is their input for providing service (Banking being subject to GST), Bank should recover the charges on their input as well and recover GST on entire amount.
For e.g If stamp paper of Rs.200 is used and bank is charging Rs.5000 as commission, banks at present is recovering from customer 5200 and also recovering GST of Rs.900/-. Auditors are now asking to recover Rs/5200 plus 936/ Please advice the correct position

For cash gift from maternal uncle in excess of 50000 , I believe comes under exempt income in ITR to be disclosed under EI section while filling Returns however will a typed letter signed by the donor and donee be sufficient proof for IT purposes or should it be notarized ? And if the donor is a non resident will it have a different treatment?

Hi all

As you are aware that form is made available for filling w. e. f. 15.07.2020, I have few queries in respect to captioned form:
a. for which period, the said form is to be filled???
b. If it is required to be filed for more than one half year, then is separate filling filling is required for each period?????
c. One of my client, in abeyance of knowledge of applicability of the provisions have made allotment of share twice one in October 2018 and then in December 2019. How to show the same in the form. will it attract any penalty while filing the forms?????
d. What is penalty on account of delay in filling form PAS 6 as the due date ended on 13.09.2020????

Thanks in advance

i can open the following accounts under current accounts
For Debtors ( service provide and sales ) - Accounts Receivable
For commission income
Commission Receivable
For Interest Income
Interest Receivable
For Rent Income
Rent Receivable

XYZ Ltd is a private Ltd Company doing works contact business.
Anil and Sunil hold 100 % shares equally and they are the only directors of the company . Both are directors in other companies also .
Other than the directorship in the company Anil and Sunil are engaged in business(proprietary) and are having GST registration.
During FY 2019-20 , the company paid them fees for Director Services Rs.10 Lakhs each and deducted TDS u/s 194J of Income Tax Act
The company recorded this in March 2020, GSTR 3B return , in serial no 3.1(d) , taxable value 10 Lakhs , CGST 90,000 SGST 90,000.
Query
Whether the directors Anil and Sunil (both are registered under GST) need to show this in their GSTR1 and GSTR 3B ?
If they are required to show in their GSTR 1 and GSTR 3B , in which serial numbers of respective returns , this is to be entered .?
It is the company’s liability to pay tax under RCM u/s 9(3) and not the director’s.
But in 3.1(a) of GSTR 3B, If you enter a value , tax cannot be zero.
In GSTR 1, whether this is to be entered in B2B section , with supply attracting reverse charge?

Dear Sir,
Please let me know that how & from where we can download utility for gstr2a merger