As per Circular No. 18/2017 Payment made to “local authority” is exempt for deducting of TDS. They are not required to apply for exemption certificate. So while filing returns if the interest paid to “local authority” is more than Rs 40000/- & if TDS not deducted by bank then what Reason for Non-deduction/ to be mentioned to avoid TDS demand

Dear Sir / Madam,
I have following queries regarding HUF formation.

Background: my family consists of my father, mother, myself and my wife. My father is incapable to sign any documents and he is suffering from dementia and Parkinson's.

Questions

1. Can my mother open HUF account in her name. ( As my father is in incapacitated die to illness)
2. Can she become karta of HUF
3. Can I contribute to capital of this proposed HUF
4. Can HUF buy property from these funds.
5. Is there any tax implications of my mother and me contribute to capital of HUF

Thanking you in advance.
Regards

Good morning sir,
we are processing for job work in fabric washing division. And, we have purchase for solar power panel in company electricity reducing purpose. So, i need what is the rate of depreciation to solar panel. second, we are sold in old car. And, further book balance of old car Rs.677000/-, but, i have sale for rs. 605000/- okay my doubt is this transaction to we have raise for sale invoice with gst or not????

Experts,

Which provisions of Income tax act would be applicable for calculating income tax on forex trading?

I have taken it as speculative business income. The absolute figures of profit and loss of all trades are totalled to get gross receipts. And profit is 6% on gross receipts under presumptive option 44AD. All calculations were done in foreign currency and then the final figures was converted to INR at SBI bid rate as on 31st March. Is this correct?

Are there any restrictions on forex trading by FEMA or any other regulations?

One of my friend has got notice under section 142(1) ..... Actually in reality there is a error in nature of business....he is a Commission agent.....but by error it has been shown as wholesale business..... Now due to huge cash transaction he has got notice..... Is there any process to correct it?

Dear sir / mam
can we claim itc for advertisement expenses if we provided following service

Transportation
Packing/unpacking
Loading/Unloading
Transit insurance etc

Dear Sir,

We are Pvt Ltd Company and our company main business is Investment.
In April-19 our company started a Shirt Selling business through the our website & online platform. No one had counted when the material came to our office.
Now we have taken stock and 11 items are less. Does a debit note/credit note need to be issued?

Now, how to pass the shortage material entry in tally. effect want in P&L A/c & stock a/c. The stock want to reduce.

Please suggest the same.

Hi experts

Please help me to know how we can account in tally software if postage and courier charges is added as item in the invoice and igst charged on that(purchase invoice).

thanks in advance

regards
Rajesh

EDUCATION INSTITUTION U/S.12A Registered, ITR 7 schedule ER and EC Source of Revenue Expenditure and Source of Capital Expenditure respectively, how to fill this schedules. For example Trust having Object of Trust Income Rs. 3700000 and Donation received Rs.1000000 and having Revenue Expenditure Rs.3000000 and Capital Expenditure Rs.800000.Now, the question is how to fill Schedules of Source of ER and EC. Please Advise and need expert opinion in this regard.

Read more at: https://www.caclubindia.com/experts/how-fill-er-and-ec-in-itr-7-2765064.asp

What is maximum limit for Commission receipts (LIC/Post Office), for which income cannot be declared u/s.44AD ?