Dear Sir/Madam,

Can anyone please share the format for "directors declaration for the non disqualification in MCA".

What will be the journal entries of the following transactions of a college?
1. Capital Expenditure incurred from earmarked/designated fund.
2. Revenue expenditure incurred from earmarked/designated fund.

Hi,
Our company's TAN is changed (new TAN) from thane district to Mumbai district due to address change.
TAN application is under process. But address is already changed as of today. So technically, TDS should be paid from old TAN or we should wait till the new TAN is allotted and then make TDS payment for August with interest.

Thanks

Can we calculate p.tax on take home salary

Audit of accounts of certain persons carrying on business or profession.

44AB.Every person,—

(a) carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds one crore rupees in any previous year; 3[*]

4'Provided that in the case of a person whose––

(a) aggregate of all amounts received including amount received for sales, turnover or gross receipts during the previous year, in cash, does not exceed five per cent. of the said amount; and

(b) aggregate of all payments made including amount incurred for expenditure, in cash, during the previous year does not exceed five per cent. of the said payment,

this clause shall have effect as if for the words “one crore rupees”, the words 5“[ten crore rupees]” had been substituted; or';

6[Provided further that for the purposes of this clause, the payment or receipt, as the case may be, by a cheque drawn on a bank or by a bank draft, which is not account payee, shall be deemed to be the payment or receipt, as the case may be, in cash.]

F&O Trader - Turnover exceeds Rs.1cr (As per calculation rule) and there is loss in current year.
Earlier in last 5 yrs only ITR 1 Filed.

Since, turnover limit for tax audit in digital transaction case is 10cr ----- can we do tax audit in above case to claim loss?

The below mention clause we have to write all the expenses which are registered under GST & not registered under GST


44 Breakup up of total expenditure of entities registered or not registered under the GST

Hello,

Let us take an example of a flat being sold for a sum of ₹. 6000000
Say I have booked a flat on 8.8.2022 by paying ₹1 lakh

I have paid ₹ 1100000 on 1.9.22 within 1 month of booking.

The registration of sale agreement was done on 4.9.22 within one month of booking, for an agreement value of 6000000, with the clause that the remaining amount of 48 lakh has to be paid to the seller within 30 days.

Now builder is asking for full TDS payment in advance.

My questions:
I have paid only 12 lakhs till now. So I should deposit TDS of ₹ 12000. Can I deposit TDS on the full amount right now on the premise that some day in future in the next 30 days I will pay the remaining amount?

Also can the registration of sale agreement be considered as the transaction date for arriving at TDS payment date for the full amount of 60 lakh, though only 20% of the full sum has been actually paid to the seller?

Thanks

Dear Sir,

When there are many group companies which are being handled under one login, so can we upgrade from V2 to v3 with a Chartered Accountant who is in employment . Can we use his membership no and pan for upgrading to v3? or else we can only do it with PCS or PCA? pls advise

Dear All,

I have turnover of 1,22,50,000/- in FY 2021-22. All the transaction are done through bank. Both the payment and receipt in cash does not exceeds 5% of the total payment and receipt respectively. But my profit arrives at Rs. 4,22,220/- (i.e. less than 8% of gross receipt).

I have not opted for presumptive assessment u/s. 44AD of the act, anytime earlier.

In the above case am I liable to gets my account audited?

Thanks
Nirmal

We are claiming exemption under section 10(23C)(iiiad) if gross receipts received below 5 crores. Now we are filing return of income on September 2022. Is there any time limit for not considering exemption