How to best handle after receiving 143(2) in case of excess deductions claimed to avoid penalty. Please let me know. Thanks.

Do I need to submit an affidavit accepting the error..

Dear All,
I have a query regarding applicability of tax audit in case of LLP.
1.Turnover is 57 lacs
2.Loss is 52 lacs
whether tax audit will be applicable or not in case of loss making LLP?
Thanks

Can someone suggest how to correct spelling mistake in ROC for newly incorporated company.
Like Reality to Realty. Is there any Form to be filed.

Please tell me whether TCS is to be charged or not on sale of dolachar

Please any one clarify that as per US GAAP we have to disclose the investments details if the value of the investment is 5% more than net worth or partners capital in the financial statement. My doubt is In case the organization is investment company or firm engaged in fund of fund, whether it is enough to show the fund in which such company have invested and the value is more than 5% of the net worth or partners capital or is it necessary to show the investment in which fund that we have invested, if it's so how to calculate the 5%,

Can anybody suggest how to rectify the wrong rate of depreciation changed by mistake under the Companies Act in the previous year? To be more specific company follows the WDV method and they have changed the remaining useful life of assets from 3 years to 10 years now this year what impact will this have on the balance sheet and ITR

Please suggest which schedule of adjustment should be reported in the ITR

Hi Can ITR(U) be filed after receiving 143(2)? Please let me know

Hello, if someone has purely trading income of say Rs 30L, and turnover is apx. 60L, then can taxes be filed under presumptive basis?

By this, tax being paid is 0 as 6% turnover formula would be applied, whereas otherwise, tax being paid would be much much more.

Since the exchanges/brokers send the data to the IT dept., they would be having the actual P&L of people. So, is it advisable?

(And of course, if one goes for the presumptive route here, same would have to be used for the next 5 years)

Thank you.

Sir,

My gst has been cancelled sue motto in year 2020 by department for non filling of return.
But IT return has been submitted till 23-24.
now my question is as gst has been cancelled no return has been filed till.
Will its create problem or not. Please advice.

I left my organisation in April 2023 and received a gratuity from them for more than five years of service. Since the gratuity was paid is May 2023 it has got added to my current year income (FY 2023-24). After gratuity exemption under sec 10, the taxable portion of gratuity led to a tax slab change. Since gratuity is an income for past services, should it not be taxed in the earlier tax slab ? Is Form-10E applicable in my case to claim relief ?