Yogesh Saini
23 August 2023 at 15:42

Security deposit entry on due basis

Can the entry of security deposit be shown in accounts on payable basis?


Daya

Journal entry in the books of LLP and Partners capital on 31st march
what entry should passed of tax distributed among partners capital and Profit and loss transfers among partners in the books of LLP and Partners capital account.


Daya

Tax paid by LLP such as
Advance Tax paid Rs. 10,00,000/-
TDS Receivable Rs. 5,00,000/-
TCS Receivable Rs. 5,00,000/-
Total Tax Amount Rs. 20,00,00
There are three partners and Ratio are A 50%, B 25% and C 25 % whether I can pass journal entry on 31st march in LLP Books
A's Capital A/c Dr. 10,00,000
B's Capital A/c Dr 5,00,000
C's Capital A/c Dr 5,00,000
To Advance Tax 10,00,000 To
TDS Receivable 5,00,000
To TCS Receivale 5,00,000
Now my question is that can I pass in the books of partners capital on 31st march .
Advance Tax A's Capital 10,00,000
Advance Tax B's Capital 5,00,000
Advance Tax c's Capital 5,00,000
To Partnership Firm LLP 20,00,000
Please reply, is correct or incorrect Entry.


Daya

If Group company loan provided to other company interest free , whether it is fair to give interest free loan to other companies.


VIPIN GUPTA
23 August 2023 at 14:22

Sale of Lease Hold Land of a Factory

Dear Sir,
We have sold Factory land in the Fy 2018-19 which was acquired by us 40 year back from RIICO on lease for 90 years, now the GST Deptt is telling us to pay GST on it. We are arguing that the document to register this sale is Registred Sale deed not Lease Deed, and as per Schedule III sale of land is not covered under GST and there is no mention of Lease hold land or Freehold land, it only mentions land. I am not able to understand are we on correct line or we have to pay tax . Is there any case law status in your knowledge


CA Parul Saxena

for 2 factor authentication ihad created sub user on eway bill system .E way bill is generating but while logging from sub user id and password on e invoice portal e invoice tab is not activating...


M.Ramkumar
23 August 2023 at 13:29

TAX AUDIT UNDER CLAUSE 44

Greetings Sir/mam,

Kindly let me know whether Staff welfare exps are covered under Negative List and reporting under Clause 44


Guest

If a UAE based company wants to provide software consultancy services to individual person in India, is there any tax (customs/vat/gst etc) or license that the UAE based company needs to consider?


Dhanesh Koshti (dkk)

Dear Team,
I am a salaried person any paying income tax as per the ITR1 every year since last 20 yrs. My query is as below:
My wife is housewife and trading in stock market particularly in F&O.
As I am a salaried person, I can get person loan from any source easily. I wanted to know if I avail a loan in my name and transfer it to my wife there are there can be two options:
a) I transfer the loan which I availed as a gift to my wife
b) I transfer the loan to my wife as a loan between two of us.
My wife will utilize that amount for her F&O trading. So, which out of both which option is more suitable and legal for tax purpose which does not affect my tax implications as salaried person. AND my wife will pay tax on her F&O income as per tax rules.


NIRMAL DAVE
23 August 2023 at 10:34

GSN ON AGRICULTURE EQUIPMENT JOB WORK

Dear All,

What is GST rate on making of agriculture equipment like plow, rake, weeding hoe, scythe on raw material supplied by another person. We are doing just job work on material supplied by its owner.

Thanks & Regards
Nirmal Dave






CCI Pro



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