My client is in the business of construction. He makes payment to transporter for travelling of workers, is he liable to duduct TDS on payment to such contractor (Transporter).

Please respond as early as possible..

Thanks and regards

Dear Sir/Madam

Our company is registered under GST in Delhi, we are importing some materials by sea mode which will come on chennai sea port.

Could we sent the same materials from chennai port to our Job worker?. if yes

What will be the procedure and documentation from our side (Principal side)?.

Please let me know if you required some more information

Thank you in advance

IN CASE OF PRIVATE LTD COMAPNY... REMURATION OR SITTING FEES BE GIVEN NON EXECUTIVE DIRECTOR OF COMPANY ..IF YES UPTO WHICH LIMIT ?

A B & C all are partners in construction firm ABC DEVELOPERS. land are in name of all partners. GST number & exp. credit was taken in FIrm's name(ABC DEVELOPERS). now problem is that, at the time of sale Office, in sale deed saller name will be all partner names Individually. the firms' name not come in any deed or agreement except partnership deed. what should be advice for GST & Income Tax related?

Whether one professional who is under audit during AY 2018-19 (TO :10,00,000) need to deduct TDS during AY 2019-20 ?

While preparing a Trading, profit and loss account, will sales and purchases include GST or not? Can we claim GST in income tax returns as an expense?

A.Y:2017-18:INCOME TAX ASSESSED:200000
TDS CLAIMED :300000
REFUND :100000
IN THE BOOKS NOT INCOME TAX ACCOUNT OR PROVISIONS FOR THE SAME AND SHOWN IN THE BALANCE SHEET TDS AMOUNT OF Rs.300000/-
A.Y:18-19:
TDS AMOUNT IN ASSETS OF BALANCE SHEET:300000(LAST YEAR)
250000(CURRENT YEAR
NO INCOME TAX ACCOUNT OR PROVISION FOR INCOME TAX IN THIS YEAR ALSO
A.Y:2019-20:REFUND RELATING TO A.Y:2017-18 HAS BEEN RECEIVED OF RS.110000(10000 INTEREST ON REFUND OF INCOME TAX)
IN BALANCE TDS:A.Y:2017-18:0=300000-200000=100000(TRANSFERED TO PROFIT AND LOSS ACCOUNT)
A.Y:2018-19:250000
A.Y:2019-20:400000
AND INTEREST ON REFUND OF INCOME TAX RS.10000 HAS BEEN CREDITED TO P&LA/C
IS THE ACCOUNTING TREATMENT DONE IN A.Y:19-20 RELATING TO REFUND OF A.Y:2017-18 IS CORRECT?

One flat was purchased in 2006. Second flat was purchased in 2009. The second flat was sold in 2014 and the amount re-invested in one housing property. In this transaction, the benefit of section 54 was availed.
Now, the first property purchased in 2006 are being sold and the amount will be re-invested in one housing property.
Whether the benefit of section 54 available for the transaction or not

i am director in a company with turnover of Rs22.00 lacs and net profit of Rs12000.00.
please clarify the following
1.is it required to get audited under income tax act.
2.if yes which tax audit form is applicable form 3CA/3CB.
3.also clarify if it is being audited under companies act is audit under income tax also compulsory.

whether Audit fee provision is to be made in the same year for which the audit is done in the next year .Whether it can be debited in the next year.