I sold my debt Mutual Fund after 2 years and 3 months for a gain of say Rs 100000/- this gain will be considered as short term capital gain. If I sell an equity MF after 1 year for a loss of say Rs 95000/- which would be a long term capital loss.
1.My query is can these two be offset against each other giving me a net income of Rs 5000 .

Can i claim Mediclaim Amount paid for my wife only (Individual) from my account while filling of Income Tax Return U/s. 80D

Please Share Opinion.

Thanx

hi ,
if operation of construction company shut down completely and the company wants to strike off its name. Now, the company wants to close it EPFO and ESI registration
can you please let me know how to close it

Dear sir/madam,
We have missed to collect form for the month of June for the fy 17-18. Can we collect the form now.

Dear Sir,

My first query is... Like in FY 2017-18 , my company had already used MAT credit but after assessment completion in FY 2019-20 it comes to know that we still have MAT credit because of some reversals in FY 2017-18.....then how to bring that MAT credit again in books ? Please let me know the entry to be passed.
If the effect is required to be given in P&L then in which head ??

My second query is......Like for FY 2018-19 after assessment it comes to know that there is a refund which is yet to receive but it is nowhere in books...then how to bring that too in books in FY 2019-20 ? What entry is required to be passed for the same ??

Dear Sir,

Prescrutiny Error is coming while uploading Spice+ form on resubmission. Do you have any idea how to resolve this ? Thanks in advance.

What is time limit for issuance of notice u/s 133(6) of the income tax act for ay 2013-14 ?

Hi,

I want to cancel PTEC of proprietor(1st case) as well as partners of LLP(2nd case). What is the procedure to do the same. I can see online cancellation of PTRC after I login into mahagst website. However PTEC of partners or proprietors is not available online.

Pls advice on the procedure of the same.

Regards,

Hi Respected Members,

I want to take your valuable opinion on GST ITC question based on the below case study:

An GST Registered Entrepreneur purchased some Interstate goods from Registered Supplier in FY17-18 and paid respected IGST on the purchased. For this all the relevant documents Like Invoice, Bank Payments etc is available with Entrepreneur. These goods are exported and ITC Taken on this Export.

But in FY 19-20 it is observed that the supplier didn't show the relevant sales while filing GSTR1 and not visible in Entrepreneur 2A. We are in doubt that supplier even not paid the GST Collected above to the authorities. Further it is come to notice the supplier also cancelled his Old GST Registration and taken new one in the same Jurisdiction.

My Question is:

1. So whether this ITC is valid or it needs to be reversed?

2. Do the Entrepreneur needs to take any action? He is Bonafide and have all supporting documents to prove that he actually purchased goods but his supplier didn't show the sales?

3. Entrepreneur is exporter and has to submit all the information related to itc under circular 131 so this needs to told in circular?

4. Is there any circular or notifications to support this action?

Thank you all for your time and feedback.

Regards
Manjeet

Sir,
Form no.60 .this form used when transactions applicable