IF I HAVE FILED ITR 4S (PRESUMPTIVE INCOME) IN AY 2016-17 & FILED ITR 3 IN AY 2017-18 IN BOTH THE YEARS TURNOVER WAS BELOW RS. 1 CRORE. NOW IN AY 2018-19 TURNOVER IS MORE THAN 1 CRORE, CAN I FILE ITR 4 (PRESUMPTIVE INCOME) IN AY 2018-19 OR I HAVE TO GET AUDITED & FILE ITR 3??

AS THERE IS RULE THAT IF WE HAD FILE ITR 4S (PRESUMPTIVE) IN ONE AY & THEN SHIFTED TO ITR 3 THEN FOR 5 YEARS I CAN'T OPT FOR 44AD??

IS THIS RULE APPLY ONLY TO ASSESSE'S WHOSE TURNOVER IS MORE THAN 1 CRORE OR TO ALL NORMAL TAXPAYERS??

Respected all,


I want to know how to clear my group 2 of ca final. The journey of ca final have started long back in 2008. I have cleared CPT IPCC in first attempt itself. But after that I am unable to clear my CA final after repeating attempts. First I have appeared in May 2013(both group), result fail. Then again I have appeared for Nov 2013, result is same. Due to financial crisis I have to join a job. Presently I am working with NTPC as Accountant, joined in 2014 and I have appeared in May 2015 for 1st group and this time I cracked it with low marks(209) but somehow I managed. After that I am trying to clear the 2nd group, marks are as follows:
Nov 2015: 185
May 2016:191
Nov 2016:173
May 2017:182
Nov 2017: Not appeared
May 2018:176
Guys I am totally helpless, don't know what to do. How to prepare so that I can manage to pass and can add those two magical prefix before my name"CA".

Guys this my first post, will wait for your response.

Rajat Bhowmik
CA Finalist

WHAT SHALL BE THE ACCOUNTING ENTRY FOR INCOME RECEIVED ON INVESTMENT BY BUSINESS PROPRIETOR,,,

WHETHER INCOME RECEIVED SHALL BE CREDITED IN CAPITAL ACCOUNT (BEING PROPRIETOR'S PERSONAL INCOME) OR IT SHALL BE CREDITED IN P& L ACCOUNT....

KINDLY NOTE ABOVE QUERY IS IN RELEVANT TO INCOME TAX PURPOSE

THANKS...

Hi,
While filing return in 2015-2016, TDS deducted by a bank for my FD interest was 10,000( IN 26AS form). However I claimed only 3,000 while filing my ITR.
Income tax department assessed my return and processed my refund by considering on Rs 3000 as the TDS.
Is there any way I can claim the Rs 7000, which I did not include in my ITR for 2016-2017.
I have read in many websites that I cannot file a revised return after assessment of income tax return.
Can I file a rectification request?

Dear Sir,
Salaried employee drawing a salary of nearly 90 lakhs, p.a. Can we also do his IT return with Aadhar e verification. I am doing it, but it is not getting through or is there any restriction that till to this slab of income only Aadhar e verification should be done and beyand it should go with DSC ?
Kindly update me please on this.

A company had applied for a DIN for appointing a person as a director. But due to some reason he couldn't be appointed as a director in the same company after the receipt of the DIN but was appointed in other company. Would the DIN applied for the former company still be valid? What are the consequences for not appointing him as a director in the previous company?

Sir,
I booked a flat in Bangalore in the month of April 2017 and paid Rs. 1200000/- advance and made an agmt with theDeveloper . The cost of the flat is arrived after considering VAT+ Service Tax (i,e. VAT-4%+ ST-4.50%).

Now under the GST Regime the Developer is collecting GST @12% from the buyers who have booked flats after July2017.

Now the developer is demanding the differential amount of tax from us for the balance instalement (i.e.12%-8.50%)

Whether I am liable to pay the differential tax ? please advice

We are providing training as a Lean manufacturing consultant under Lean Manufacturing competitiveness scheme duly approved by MSME.
MSME is providing financial assistance in the form of grant to Manufacturer Associations and than manufacturing associations make payment to Consultant.
Whether GST applicable on transaction between manufacturing associations and Consultant ?

i have taken a KCC from BOB two years ago and not paid any interest till date . today received call from manager of bank that you will be charged interest @15% in year 2 and penalty also to be levied. what i should do have no money to repay loan now they asking for full repayment. interst @ 15% is justified or not tell me?

During verification of the GSTR-1and GSTR-3B returns filed by you, it is observed that there is difference in the liability arrived at as per GSTR-1 and that discharged actually in GSTR-3B. The details are as follows :

Tax period

Liability as per GSTR-1 (Rs.)

GST paid as per GSTR-3B (Rs.)

Difference (Rs.)

July, 2017 to December 2018

2656916

2134771

522145