Sir,
Q.no.1.A Gst registered rice goods taxable and exempted dealer sales turnover rs:185 lacs as per GST portal f.y.22-23
Q.no.2 dealer AIS information download f.y.22-23 dealer show one current bank account show in books and it returns every year.but dealer 2nd savings bank account show in AIS f.y.22-23
Question:
1.dealer net profit rs:9 lacs declared (4 precentage) which clause applicable tax audit.
2.dealer 2nd bank sb account transaction some cash credit and debit loans show in bank statement.2nd bank account transaction show in it returns compulsory.
Sir, my first question is can I do audit for last two years ? If yes, then I want to file previous two year i.e. AY 2021-22 and 2022-23. But I have to do tax audit as my turnover is exceed the limit. My 2nd question is that can I adjust my TDS with tax liability in this two corresponding years ? (Exmp: TDS rs.35000/- +Self assement tax rs. 15000/- where total Tax liability Rs.50000/- ) Sir please help on this.
Hello everyone,
following details are available as on 31.03.23
Cl wdv as per books : 100 cr
cl wdv as per IT acr : 92 cr
applicable tax rate : 25%. Assuming no other timing diff other than depreciation
i am stuck in computation of closing deferred tax asset/liablity
my understanding is since co has claimed higher depreciation and paid less tax going forward tax liability is going to be higher so direct tax liablity shall be created
closing value of DTL = 8 cr * 25% =2 cr
2cr should appear in balance sheet after adjusting opening balance
is my understanding correct ??
Form 10B not yet released
If any statutory body instructed bank to create a lien for any transaction and the same was not removed in the date of signing of audited financial what will be the discloser note . Should we considered as temporarily impairment to the extent of lien amount or to disclose as temporarily restricted to the extent of lien amount.
Sir,
Sir I have one used motor vehicle, which I wanted to sale. But due to the non availability of prospective buyer, I was supposed to sell the same as scrap sale. Then I want to the know the documentation required in respect of the same in case of scrap sale. Whether it require any sale agreement etc.
MR. A HAS SOLD A RESIDENTIAL PROPERTY IN F.Y. 2022-23 WHICH WAS RECEIVED BY HIM AS A GIFT IN F.Y. 2021-22. HOWEVER, MR. X WHO GIFTED THE PROPERTY TO MR. A ALSO RECEIVED THAT PROPERTY VIA GIFT IN F.Y. 2021-22.
NOTE: THE GIFT TRANSACTIONS DISCUSSED ABOVE ARE BETWEEN BLOOD RELATIVES.
QUESTIONS:
1) WHAT WILL BE COST OF ACQUISITION FOR ARRIVING AT THE CAPITAL GAINS FOR MR. A GIVEN THE FACT THAT THE PREVIOUS OWNER (MR. X) ALSO RECEIVED THAT PROPERTY AS A GIFT?
2) WHAT WILL BE THE PERIOD OF HOLDING TO BE CONSIDERED FOR CAPITAL GAINS CALCULATION IN CASE OF MR. A?
Can I get the tutorial to understand and prepare the Ind AS accounts in Excel by linking from Trial Balance to Balance Sheet, P&L, Notes to Account to all the schedules, Cash Flow, SOCE, Depreciation, Stock Valuation, MTM of Investment, Deferred Tax and Income Tax Computation for a Tea Manufacturing Company which is an Agricultural sector company.
Say, I have bought an asset for Rs. 12 Lakhs on 1 December 2022. The expected useful life of asset is 1 year. Where the asset is shown in balance sheet on 31 March 2023?
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Tax audit which clause applicable and 2nd bank transaction