Whatever the purchase made during the year for stock in trade will be shown as expense. Now to pass the closing balance journal entry for inventory account which account need to be credited.

An assessee who is registered as a trust, has uploaded the return on 06-11-2022 and 10B on 06-11-2022 (Audit report) for the AY 2022–23 i.e; before due date, however intimation order under section 143(1)(a)(ii) was issued with demand due, after disallowing the expenses claimed in ITR. The error description in the intimation order was as follows;

"The Trust or Institution registered u/s 12A/12AA /12AB has not E-filed the Audit Report in Form 10B atleast one month prior to the due date for furnishing return u/s 139(1). Hence the exemption claimed in Sr.no. 6i to 6vii of Part B1 - Part B-TI is not allowable in accordance with the provisions of Section-12A(1)(b) of the Income tax Act."

Can any of the experts give me a suggestion for what i can do in this regard?, I have already filed rectification return against this but still it continue.

what is journal entry of provision for depreciation and also accounting group of provision for depreciation.

what is accounting journal entry of provision for depreciation and also accounting group of provision for depreciation.
why provision for depreciation is created instead of Depreciation.
Company why creates provision for depreciation.

How to present changes in inventories in profit and loss account according to scheduled III
In the case of Negative figure.

how to present Loss or profit in Balance sheet
Loss treatment
Profit Treatment

Employee benefit expenses according to scheduled III
which type of expenses shown in scheduled III under employee benefit expenses.

whether any type of interest paid
Like Interest on loan
interest on delay payment of tax
should be shown under Finance cost.

hello,Under which head is abnormal loss shown in costing p&l account?

Hi
Which Licenses do we need to start a Co Working Space Business with a Sub lease space. Which compliances we have to follow after registration.