A partnership firm making a loss of 10 lacs during the year and that is because it transferred its assets to a partner at scrape value i.e. loss because of loss on sale of assets.
But now partners do not want to show loss in P&L a/c of firm,
And they want to transfer such loss in their respective Capital accounts and not in P&L
So can they do so ??

Sir whether tds is deducted on interest on partner capital

what if amount of capital gain used for other purposes and before filing income tax return such amount(Capital Gain) deposited in capital gain deposit account...

Dear expert,

I am running a proprietor company, f.y 2016-17 enrollment for p.tax paid, also paying monthly p.tax as on due date, now I will not continue this company to next f.y, so will cancel the enrollment within 31st march 2017, after cancellation of enrollment will I have any problem regarding payment of p.tax m/o march 17 in april & p.tax return for f.y 2016-17? please suggest, as I have 1 day left.

thanks in advence

We have done the GST Migration and what is the procedure to obtain the decentralised GST registration in other states?

Dear CCI EXPERTS

Can anybody help me with this.

Original return was filed with zero income for AY 2014-15 which was processed by CPC.

Later rectification for the same was filed with some income below tax slab, for which mail received from CPC saying that rights transferred to AST.

Now what is the status of the return filed, If it is not processed will there be any issue for future returns.

To further process this return what steps should I follow.

Thank you in advance.

what if company fails to receive subscription money within 60 days and fails to issue share certificate within 60 days.

Read more at: https://www.caclubindia.com/experts/subscription-of-moa-2457329.asp

Dear All,
Condition : A society/trust does not have registration certificate u/s 10(23) or/and 12AA but it is registered with Registrar of society.

Q. : which form we will upload for audit report to Income tax. (i.e. 10B or 10BB or any other).

Kindly answer soon

Thanks in advance

sir if a person work in organisation as a consultant and his consaltancy fees is 70000 pm bt from 1.04.17 will be 100000 pm is service tax applicaple or not for 2017-18

I HAVE SHORT TERM CAPITAL GAIN ON SHARES
WHAT IS THE STATEMENT I HAVE TO PREPARE FOR THIS CAPITAL GAIN FOR ITR FORM
SHOULD A STATEMENT FOR EVERY SHARE HAS TO BE PREPARED OR ONLY TOTAL SALE PURCHASE IS ENOUGH