I have written a bad debt for a party. The party got income tax notice and department treated my bad debts as party's income and department charged 100% penalty on income tax.The party now wants to return my money. What should I do now? Shall I take my money back?

In tax regime, where I have to enter my income detail in the ITR form 3 for tax deducted under section 194C and 194jb

Hello All,

What is the HSN Code for Discount offered during sale.

It is said that HSN Code for discount is same as that of product or services .

What if there are more than 2 or 3 products .

SIR,

WE HAVE RECEIVED A LETTER FROM OUR GST RANGE OFFICE ASKING US TO SUBMIT NUMBER OF DOCUMENTS FOR THE YEARS 19-20 TO TO 22-23 AS CERA IS CONDUCTING RANGE OFFICES AUDIT.. WE WANT TO KNOW THAT WHETHER WE HAVE TO SUBMIT THE REQUIRED DOCUMENTS TO THE RANGE OFFICE. SOME SAYS THAT CERA HAVE NO AUTHORITY TO CHECK A PRIVATE PARTIES ACCOUNT. PLEASE ADVISE.

THANKS

Case 1:
A non-profit education trust, which invests the earned amount back into the education trust.
Will there be income tax on the earnings of the trust.

Case 2:
The same trust non-profit education trust, rents one of the buildings. Now, the trust have 2 sources of income A- Education earnings B- Rentals of the Building.

Will there be income tax on (A) only, (B) only, or (A and B) both?

What will be the category of the trust in both cases. (Business trust or non profit trust).

Thanks in anticipation

what would be the GST rate on buyback of air conditioner by an employee of a PSU?

I have mistakenly added a challan twice in traces. Because of this I have received demand from the department. Can anyone help in rectifying this

Is it mandatory to file ITR of AOP and BOI even if there is no income or income below basic exemption limit.

Hello,
I exceeded the turnover threshold of ₹20 lakh in March 2024, making me liable for GST registration. However, I completed the registration process only in May 2024. During this period, I raised two invoices worth ₹50,00,000 before my registration was finalized.

My question is, do I need to include these invoices in my GST return? If so, what steps should I take to rectify this situation and ensure compliance with GST regulations?

can I generate single GST invoice for monthly GST sales to B2C at the end of Month?