Accounting treatment of Advance tax and TDS paid by LLP and year end entry made by firm in the
books of LLP
In the books of LLP at the FY end
Partners capital account Dr.
To Advance tax

Now can i book the advance tax paid by firm in my books as Advance tax personal expenses in the FY year end in partner books
Partnership firm expenses A/c Dr
To Partnership firm A/c

whether depreciation on Land and Building is allowable in the condition
when Land first of all land purchased and then construction made on that land
when Land and Building purchased at he same time.

Whether GST Input can be transferred to profit and loss account,when we want not to claim further as input and transferred to P/L account,

Sir,

By mistakenly i have taken Full ITC in 3B as my total sales is more than 70lac ,i have made same mistake in june and july month.
As per 86B i can claim 99per ITC and 1per in cash .

now how can i rectify the same please advice.

I want to know whether I can take EL for 1 day in various occasions if I am not taking any long leaves during calender Year?

Dear All,

How to calculate depreciation on plant & machinery in case of capital subsidy received after 180 days in the Financial Year?

Partnership Firm had purchased Plant & machinery in FY 2020-21. Subsidy related to such plant & machinery is received in Nov'22. i.e. after 180 days.

Shall I calculate depreciation after reducing subsidy amount from opening W.D.V.?

Thanks & Regards
Nirmal Dave

I have sold/handover rights of our old inherited flat to developer to develop residential project on it on said land and in return I am getting the 2 bhk flat. Present value approx 67L. Now I need to understand capital gain implication on the same. Whether any capital gain i need to pay and what are exemption available.

One of the brother receives land as gift from Brothers wife.

Will it be liable to Income tax

Do we need to file Tax audit report and ITR for company incorporated on 26th Mar 23 on 30th Sep 23 or 30th Sep 24. As per companies act financial year ending for company incorporated after January 23 is next Mar 24. ? Is the interpretation correct and should I file Tax audit & ITR under income tax act..

Sir i have stocks in my demat worth 10 lacs which I have taken as delivery for cash.
When I started margin trading, the stocks started getting added to my portfolio but show as pending for delivery. My query is do I need to account for my margin trading stocks worth 20 lacs(portfolio shows 30 lacs) in my books of a/c or ok to report only the profit made in short term capital gains & speculative income & also where do I account the interest paid on the margin trading stocks