A car was purchased back in 2014 which has been currently sold i.e. during FY 2018-19.
WDV as on 01.04.2018 of the Car as per books of account is INR 2,00,000/-
Sale of Car on 31.03.2019 at INR 1,50,000/-
My doubt: How will i book the loss of INR 50,000/-? Can I debit the loss from the Statement of Profit & Loss and thereafter add it back for income tax purpose during MAT calculation?
Kindly clear my confusion while calculating profits under both Companies Act and Income Tax Act.
Looking forward to an expert solution.
Thank you.

from April-2019, I do not take any ITC of input GST on commission / service fees / telephone charges of zomato,swiggy,and dunzo party. now I want to take ITC ( input GST) from April-19 to September-19 . so, how i can take these credit .and please say me which entry i can enter in the tally.

Dear Experts.

We have to forgate to claim IGST by mistack in GSTR-3b in Aug-19. but taxable value of the same credit has mention in GSTR-3B but Amount of IGST ITC has been not claim in GSTR-3B.

Please advise what we have to do.can we tack credit in Sep-19 & how Taxable Value & ITC of Aug-19 need to shown in Sep-19 Return

We are a subsidiary of a foreign company having headquarters in Singapore. They have recently in-fluxed more capital in our company. Now while filing the ITR, CA firm has advised me to obtain PAN number from foreign company who is investing in India. In 2011, it was not mandatory for foreign company to obtain PAN. If there is an amendment, kindly let me know.

What is TDS % for service of Erection / Installation of Pre Fabricated Building ?

Kindly help me for the object clause for To carry on business in India or abroad on behalf of the company for providing warranty including extended warranty to the customers directly and through agents and to act as agent, consultants,booking agents or deal in all types of repair and maintenance service of computers, home appliances and all types of electronics products.

Sir...one of my relative lives to US and wants to sell his property in India...i would like to know how much tax he needs to pay.. and also i want to know the procedure to calculate this tax. following are the property details:-

Date of purchase 2nd July 2010
purchase price : Rs.34,00,000
going to sell next month for Rs. 1 crore 42 lakhs

please let me know whats the tax he needs to pay and procedure to calculate. Thanks...

ANY CHANCES LEFT FOR EXTENSION OF DATE FOR SUBMISSION OF TAX AUDIT REPORTS AY 2019-20

Respected Sir/Madam

Any goods news ?

Whether will be extended ?

Please let me know and oblige.

plz suggest accounting entry for leave encashment and GRAUTITY