Hi!!!!

My assessee has received intimation u/s 143(1) for A.Y 2017-18 asking for payment of tax. I found out that there was a arithmetical error in return filed. Total amount of depreciation was claimed in wrong column resulting in wrong calculation of total income & tax payable thereon.

Please guide me as how to rectify this error. Can I file a Revised Return after rectifying the error. Earlier I had filed a revised return for A.Y. 2017-18. It means If I revise the return, this will be second revision

Kindly help me out
Regards

Can mother can take gift from daughter without any tax

Dilip

i am traders of iron materials, during the financial year 2017-18 my turnover is 59,00,000/- and my net profit is 3,40,000/- , Query is whether i need to go for Audit under income tax Act, as my net profil below 8%, Please Help.
Thanks

Respected sir,
A person maintains full books of accounts and as per that he is having turnover of Rs. 1.75 Crore. As per his profit and loss account he is having a net profit of Rs. 18 Lakh. But he wants to declare his profit of Rs. 14 Lakh @ 8% (As per section 44AD of the I.T. Act).
My question is that – What kind of legal situation may arise in this case. Please guide.
With regards

Subhash

Acdoctor gets honororium amounting to 75000 per month and employer dedects tds 10 that amount to 7500 per month..While filing tds only tds was showing 82500 in 26as so i filled manually 7500 more to claim ids 90000..I also opted presumptive based income thats is 50 for doctorsAnd tax amounted 10000 and net refund was 80000 but in intimation there was mismatch of 7500 and i hv got refund amiunting to 72500 ..Form 16A also shows total tds amount 90000 What to do now ?

A bakery and tea shop whose get GST registration and provide tea and snacks daily to the their employees at free of cost. There is no cash in and out. on the other hand stocks ( for trading purposei.e Tea powder and Sugar and snacks ) was goes out. What is the accounting treatment for this transactions?

A PERSON DEALING IN TIMBER TRADING FROM LOCAL MARKET AND HE IS NOT PURCHASE ANY TYPE OF TIMBER FROM LEASE/FOREST DEPARTMENT IS THIS TRADING IS APPLICABLE FOR TCS UNDER SECTION 206 ASPER TCS ACT,1961
PLEASE CLEAR ME

A PERSON DEALING IN TIMBER TRADING FROM LOCAL MARKET AND HE IS NOT PURCHASE ANY TYPE OF TIMBER FROM LEASE/FOREST DEPARTMENT IS THIS TRADING IN APPLICABLE FOR TCS UNDER SECTION 206 ASPER TCS ACT,1961
PLEASE CLEAR ME

Hii sir,

I have a client who have two firms e.g. A & B. I had filed GSTR 3B of January month of both firms in February. But now i faced a problem that the bills i have entered purchase bills of B firm in A firm and claimed ITC in the same month. I can correct those bills in GSTR 1 of September. But now my question is what treatment i must done for both firms????
How can i take credit in for B Firm??
& what is the treatment of A firm now for the bills i had entered wrongly and took credit for that??

Dear Experts

Finished goods are sent to Sea/Air port for Export purposes in September month. Due to technical reasons the material doesn't qualify for export at port and hence is returned back to factory. No Shipping Bill is prepared. Material is returned with the Tax Invoice in October month.

where to show this sale in GSTR1 return