Respected Sir
I am working as a accountant in Bricks manufacturer, now TCS introduced with effect from 01.10.2020, we also charge any TCS on invoice. if then how much sir.
Thanking you
Yours faithfully
Srinivasa Joshi

A NRI who sold Building and an adjacent vacant site in two documents and Building sold to husband and vacant site sold to wife. Long term capital loss arises Rs.125360 in building sale and Long term capital gain arises on vacant site sale 113850. Sale consideration of vacant site Rs.230000 & vacant site 4800000. as per section 50C vacant site value fetches 5001000. is s 195 attracts. and what amount whether on LTCG or Sale consideration . Net long term capital loss arises during the year 11510.

We are having revaluation reserve in our balance sheet. We want to writte off it from balance sheet. what are the probable use or how we can remove it from our balance sheet.

Dear all
In my client company stock transfer will be happen. For that IGST They will pay
and take it is input. Transfer price is 40% less than MRP. They normally send the goods in transport
in transfer invoice only cost of material will take place
As per transaction value
Cost of materials
+ transportation cost
will be the transaction value
So in my client company stock transfer invoice contains only Material cost

My doubt is whether transaction is to be included in the transfer value.

Can I as a sole proprietor invest my profits into equity/mutual funds on the company name, will this show as assets on my balance sheet and can this be a legitimate business expense to minimise my taxable income?

Dear All,

kindly give advice that Interest received on Saving A/c, FD, RD of Proprietor can be shown in Propriety business P& L a/c or capital a/c. Also advice that personal saving or investment is compulsory to show in Business Balance sheet or not.

Proprietor for firm expired on 26.09.2019, from that day his business was run by his legal hair after death till date under the GST number of deceased proprietor. now new gst registration has been taken in his legal hair's name, whether we can transfer input credit of deceased proprietor to his legal hair by filing itc 2 now ??

DEAR SIRS :: THERE IS GREAT CONFUSION ON ADDING TCS ON TAX INVOICES....
(ONE GROUP SAYS ) IS THIS ON TAXABLE VALUE BEFORE TAX OR
(SECOND GROUP SAYS ) TCS SHOULD BE ON TOTAL VALUE OF INVOICE ( TAXABLE VALUE + GST )......

I ALSO HEARD THAT TCS ALSO REQUIRED TO BE DEDUCTED AND DEPOSITED ON AMOUNT RECEIVED FROM PARTIES WHERE SALES WERE MADE TO PARTIES PRIOR TO 30-09-2020 BUT WHO CROSSED 50 LAKHS SALES TILL 30-09-2020.... PLEASE CLARIFY... REGARDS

If a registered pvt ltd company pays labour charges to individual (Not a employee) of Rs. 7000 . is there GST liability arises under RCM to company?

Due date of filing Tax Audit Report in case of transfer pricing entities will be 31.10.2020 or 30.11.2020 ?