An assessee doing petty business dealing (pharia business) in various items; is having stock in trade of Rs. 500000/- & cash balance of Rs. 200000/- as on 31/03/2018, in this business mentioned above.
He is also having Rs. 600000/- in his personal Balance Sheet apart from cash balance of the business, which of the cash balance will be filled up while filling the ITR 4 (Sugam) as the ITR requires the figure to be filled up for business only.

Paid remuneration Rs.360000/- p.a(2 partners as per deed). Maximum remuneration as per Book Profit comes to 48,00,000 /- & the same i want to claim in to my partnership business. Can I do so..?

Namaste all,
ASSESSEE IN THE BUSINESS OF PURCHASE OF SITE AND CONSTRUCTING RESIDENTIAL BUILDING/ HOUSES , AFTER COMPLETION OF CONSTRUCTION SELLING IT TO INTERESTED BUYERS. IS GST APPLICALBE IN THIS CASE . ASSESSE SITUATED AND HIS ACTIVITY IN STATE OF KARNATAKA.

Sir,

A supplier of state govt department supplying sand gravel ,stone chip ,brick can he can ITC on this product.

What is the tax treatment of transfer of capital asset by proprietor of one business to another business of the same proprietor?

DEAR MEMBERS/EXPERTS
WHAT WOULD JOURNAL ENTRY BE PASS,IF COMPANY MADE PAYMENT OF GST THROUGH BANK TO ME AND SAME AMOUNT OF GST PAID BY ME THROUGH BANK?

Hi all,
if mother give rs. 500,000 in cash to son as a gift, then can it attract any income tax ? do mother has to prepare Gift deed? if this transaction liable to tax then how to save income tax liability.

Regards

Dear Experts,
I have a query regarding that the payment of wages to the workers employees at factory in a typical rural area.
The issue is that there is heavy labourer turnover and secondly these labourer want the payment in the others bank accounts and so on (thing is that the credit accounts is not fixed however we have take many steps to credit the wages to the right persons account only but this is not possible due to heavy impact of labourer union) now we are bound to pay the labourer at their willing account (which is changing almost every month).
Now please guide me how I shall deal in my accounting as there is an number of accounting is opened in my accounting software.

ABC (SUB DEALER)

XYZ( MAIN DEALER)

XYZ is issuing credit to ABC for quantity discount. But this criteria and calculation is not mentioned in an agreement between the these parties. Credit note amount can trace billwise and credit note is seperately shown GST also. Because of the absence of rules mentioned in sec.15 of the CGST act, (i.e have agreement, but calculation criteria/parameter not mentioned its open ended)
My question is:
1. If ABC is reversing the input of this credit note, XYZ can claim this benefit( can less from their taxable supply amount)

Can I revise a return after receiving notice U/s 143(1)? I forgot to add bank interest in the income. but the notice didn't state any difference in income or tax amt due to pay. It's for the AY 2016-17. For the next yr also I received notice and I rectified the error as I can find that in e- proceeding for the AY 2017-18 and the notice stated the difference also. I can't find any demand f tax for the AY 16-17. Can I revise the return and pay tax for the AY 2016-17?