Details of cash and bank receipts/ payments are required to be given. How contra entries for cash deposit in bank or cash withdrawals from bank are to be treated while giving this information? Will deposits from cash to be shown as payments in cash and receipts in bank?

i want to learnhow to download balance of unlisted company.as i am making a project on rotomac scam and want balance of that company

Dear Sir,

I have received a mail from ICAI after submition of form 107 for extra days working 10 Days. But ICAI return my form by written a mail as below:

Supplementary Deed Request send back for correction
Inbox
x

noreply@icai.org via tcsion.com
Dec 24, 2019, 12:08 PM
to me



Dear SUDHANSHU SHEKHAR KANCHAN

Your Form 107 has been sent back for correction by the regional office with remarks FRANKIN COPY NOT SUBMITTED.

Kindly visit ICAI Self Service Portal for further details.

Regards,
ICAI


But I am unable to uderstand a words (FRANKIN COPY NOT SUBMITTED).
Please help me to understand the above break word FRANKIN COPY.

With Thanks & Regards
Mr. Sudhanshu Shekhar Kanchan

Sir
I have applied for cancellation of certificate of registration of GST but till now it is not cancelled. I want to close my bank account in the name of proprietary firm. Can I close it ?. Pl advise. Is there any consequence of it.
Regards
Sanjay

Hello,

I need some advice from the real life experiences i am facing.

My dad had a proprietory firm from 30 years. I am an MBA by qualification and I was working with my dad from the past 15 years. We both were handling the firm very well. But suddenly last year in April my dad expired due to cardiac arrest and the entire office work load came on me.

I tied up with a CA who is well known to me and we made an arrangement in which all the audit work in which signature of CA is required will be done by him. The sharing is 50% in this and the staff employed will be mine. All the audits got completed in time and returns were filed timely. Some of the existing clients went away as they had more trust on my dad since he was a CA.

Now at present there is less work for me and the 2 staff employed with me, I feel the need of only one. But if I remove one of them then next year audit will get into problem as 1 staff cannot handle everything.

My problem is after sharing the audit fees with the CA and after deducting other expenses like salary, electricity, office expenses there is not much left for me in Profit incase of running the firm.

I also have a Payroll Outsourcing business in which 2 of my clients also do tax audit with me. In payroll work my profit is taken in different entity and this work is done entirely by myself and there is no sharing of this work with CA but if I sell the firm I fear the client might go from me.

Can anyone here suggest me what course of action I must take now. Whether to sell the firm or keep on running like this with not much margin in audit work. I want to think on long term basis as I am only 35 now. My only interest is in Individual returns and Payroll work as CA sign is not required.

Thanks,

Sir/Madam
Please clarify. I am registered in Delhi . Availed input services and paid bill for input services to Party registered in UP for providing services in UP. The party has charged CGST & SGST. Can I claim ITC of Input CGST And input SGST.

Thanks in Advance

I had rented commercial property who's rent is 50,000/- Month. I don't have any other income source.
How much Tax would i have to pay or applicable on this.
Property is in Maharashtra.

Scrutiny orders passed U/s.144. Can immunity U/s.270AA be available or not

I booked the flat on construction linked EMI plan in 2009 and got the possession in 2017. However builder also charged me Interest on delayed payment of EMI. Please suggest If I can claim this interest u/s 24 of the income tax act. For example, if the interest is Rs 100, Can I claim 1/5th of the same Rs 20.00 in next 5 financial years after possession u/s 24 or other section of the IT Act.

Please suggest along with IT rulings and case study in such cases.

My quarry is as under.
1.Coloumn A21 of notified form itr4 for ay-2020-21 asks like this"Are you filing return under ththe 7th priviso of sec 139(1)"y/n -What does this mean ?since priviso said above is for mandatory filing of itr even though ypour income is below threshold limit ,Now my question is Whether the assesse whos income of the said ay-is not below threshold limit &is a regular assessee for the last 30years has to tick yesor no in this coloumn &secondly has to reply all the three questions mentioned as (i)deposit of one crore or more in current account or accounts(ii)spending 2lacs for forign travel(iii)spending more than 1lac on electricity consumption -if all assesses has to reply this questions than why they have writen as mentioned in col-a21?
2.In coloumn s-G1toG4 "PARTICULARS OF CAS AND BANK TRANSACTIONS RELATING TO PRESUMPTIVE INCOME"MY QUARRY IS AS UNDER;-
1IS ASSESSE HAS TO GIVE DETAILS AS ABOVE FOR ONLY THOSE TRANSACTIONS WHICH RELATS TO PRESUMTIVE BUSINESS OR ALL THE OTHER TRANSACTIONS ALSO?
2.BANK COL.DOES NOT ALLOW TO SHOW NEGTIVE BALANCE AS OPENING OR CLOSING BAL.IF ASSESSE DOES NOT HAVE CURRENT/SB AC OR HAS ONLY OD/CC AC WHERE ALWAYS NEGIIVE BALOF BUSINESSMAN IS THERE HOW THEY WILL PROVIDE THE ASKED INFORMATION .
3.APART FROM BUSINESS RECIEPTS/PAYMENTS THERE CAN BE OTHER RECIPTS SUCH AS SECURED/UNSESECURED LOANS,CAPITAL ENHANCEMENT ETC &ON PAYMENT SIDE WITHDRAWLS/LOAN REPAYMENTS CAN BE THERE WHICH DOES NOT RELATE TO PRESUMTIVE INCOME FROM BUSINESS.
4.LAST BUT NOT THE LEAST WHEN THEY WERE ASKED NOT TO MAINTAIN BOOKS OF ACCOUNTS ON REGULAR BASIS US 44AD/ADA/AE WHY THIS COLOUMN NOW WITHOUT AMENDING ACT?
ISHALL BE HIGLY OBLIGED FOR EARLY REPLIES /VIEWS ,
WITH REGARDS,