Is it mandatory to provide 12% interest on the capital of partners of a firm.??? in case the firm is newly opened and partners(2) have introduced 1 lakh each and both withdraw 1,50,000 during the year .In such case what will be the treatment of interest of capital??

Respected Experts,
Kindly let me know some specific exam strategies & answer Presentation tips for CS Professional exams. As i gave previous exam but got average marks like 48, 46,50 .
I think that i can crack this level , i am a working person & in full time job which is different from this profession and only depend on my self study therefore i require your help to achieve my aim , i request you kindly provide your experts advice to me .
Thanking You

it is mandatory to disclose cash balance and debtor creditor closing balance for individuals having income from profession and does not maintain books of account while filling it 4 if mandatory then how much amount we have to show as closing cash balance. individual having income from profession and agriculture which itr required to file is ITR 4?

Is rebate allowed on the amount of principal and interest paid on House building allowance(HBA) for under construction building in Income Tax

Respected Sir,

Our private limited company was registered by ROC on 29.12.2016.Thereafter we have applied for PAN to NSDL
online.Still today i.e. 24.03.2016 we have not received PAN by NSDL.As such there are no business activities till
31.03.2017.Whether we can extend our accounting period till 31.03.2018.
Plese suggest us.

Thanks

Dilip Phatak

if a assessee filed a return for purpose income is not much higher then the tax limits...it's almost nil tax payable. so the assessee is teaching as a staff member of coaching centre,then he/she can file a return under which ITR- form.. ITR-1 or ITR-4s

suppose a proprietorship firm want to convert into private company.Then what are the provisions to be applied so that no tax liability is charged in the following case

Sir / Ma'am,
My client is having airtel stores at three different locations. These stores are taken on rent at the amount 144000,180000,96000 p.a which is paid to different store owners who are individal.
Now my query is whether such amount will be considered together or separately for computing TDS 194 I???

I am prensently working in a bank as credit manager and now while doing appraisal of a account, I observed that the last three audit reports were not stamped by the auditors however it was initialled. Further only the notes to accounts were stamped. Please clarify me on the same.

Will reverse charges on service be applicable after GST implantation?