Sir,

My friend is running a Propreitory business and manufactures steel bench and desk, Bearau, etc. To
transport these goods to his customers' place, he has purchased a Tata Ace, commercial vehicle in Dec 2019
in the name of his Business ( Not in his personal name ).
Now, can he claim ITC on the purchase of the said vehicle and the GST paid on the insurance amount ?

Pls. advice.

Respected Sir,

What is the basic difference between both these forms ? Upto which Assessment year the ITR-4-S was continued ? and later the said ITR-4-S was replaced by which of the forms ? Please guide me and oblige.

If a partnership firm is having a zero turnover in F.Y 18-19 and the firm is in loss then the audit u/s 44AB is required or not.

HI,

PLEASE LET ME KNOW IF THERE IS AN INVENTORY LOSS DUE TO OBSOLETE STOCK,EXPIRY OF AN ITEM,FOC ITEM ETC , THE SAME SHOULD BE ADDED TO THE COST OF SALE AND DEDUCT FROM COST OF SALE IN CASE OF INVENTORY GAIN. PLEASE DO CONFIRM

X Pvt Ltd in Maharashtra is willing to takeover an existing Sole proprietorship business of Mr Y . Mr Y is already a Shareholder and Director in X Pvt Ltd .The transfer of business is via Slump Sale where X Pvt ltd will takeover all the existing movable assets ( There are no immovable assets in the books of Proprietary concern) and all liabilities of the concerned business.
An agreement is to be entered between the two parties stating the terms and amounts pertaining to the transfer.
Is this agreement of Slump Sale required to be registered? If yes, is stamp duty payable on the same in Maharashtra and at what rate ?

It says
" the remuneration payable to any One MD or WTD or manager
shall not exceed 5 percent of the net profits of the company
and
if there is more than ONE SUCH DIRECTOR remuneration shall not exceed ten percent of the net profits to all such directors and manager taken together "

My INTERPRETATION IS ----

when in the latter part of Sec it says " if there is more than one such director " -- it is referring only to MD or WTD And Not Manager .

But in all the books it says " if there is more than one MD or WTD or Manager " -- which in my opinion is NOT Correct .

And my interpretation is also supported by last few words of the Sec " ....to all Such DirectorS and Manager Taken Together "

Here SUCH DIRECTORS means MD or WTD and NOT MANAGER ,

Moreover the word Director is used in Plural tense and not Manager .

Again i am doing hair spliting But i want correct interpretation

Thanks

Dear Team,
which are the investments in mutual fund are allowed as exepmtion from taxable income?
Please help

If GSTR 1 not filed for 2017-18 all months but gstr 3b filed...then what would be amount of penalty ????

Dear Experts,

My client has received below SMS:
"30XXXCX0000XXK you have under reported your tax liability in GSTR 3B as compared to GSTR 1 in 092019. The tax liability on account of this under reporting in Rs.1.19 Lakh which need to be discharged/ resolved immediately to avoid any penal consequences."
I know I filed my returns correctly. Please advice.

TDS ON EXHIBITION FEES USD 1700 WHETHER DEDUCTIBLE ON PAYMENT TO SINGAPORE COMPANY FOR EVENT HELD IN INDIA