Dear Sir/Mam,

CASE I – Relating to Income Tax
A assessee commenced a trading business in the F.Y. 2018-19.The assessee for the 1st P.Y. 2018-19 opted for section 44AD(1) now as per section 44AD(4) he is required to opt for the section 44AD(1) for the next 5 P.Y. i.e. from P.Y. 2019-20 to P.Y. 2023-24 failing which in any of the P.Y. 2019-20 to P.Y. 2023-24 he will be required to get his books of accounts audited for the next 5 P.Y. subsequent to the P.Y. in which he first time opts out from the section 44AD(1).
The assessee again opts for section 44AD(1) for the P.Y. 2019-20.
However in the P.Y. 2020-21 his turnover was 82,17,031/- and decided to declare profit less than 8% i.e. in contradiction of section 44AD(1) thus section 44AD(4) and (5) got activated and the assessee got his books of accounts audited u/s 44AB(e) for the P.Y. 2020-21 and by virtue of section 44AD(4) and if his total income exceeds the maximum amount which is not chargeable to income tax as per sec 44AD(5) now he is required to get his accounts audited for the next 5 P.Y. i.e. from the P.Y. 2021-22 to P.Y. 2025-26.
Question 1 - In P.Y. 2021-22 the turnover of the assessee is Rs. 1,11,89,019 and his total income exceeds the maximum amount which is not chargeable to income tax. So in the Tax Audit Form 3CD under Clause 8 which section is to be chosen as a section which triggers audit of the books of accounts of the assessee for the P.Y. 2021-22 –
Option A - Section 44AB(a) - As the turnover of the assessee for the P.Y. 2021-22 exceeds the tax audit limit of Rs. 1 Crore.
OR
Option B - Section 44AB(e) - As in the P.Y. 2020-21 the assesse opts out from section 44AD(1) which created the liability upon the assesse to get his books of accounts audited for the next 5 P.Y. from P.Y. 2021-22 to P.Y. 2025-26

Question 2 – For the P.Y. 2022-23 it is estimated that the turnover will be less than 1 crore but the total income of the assesse will be more than the maximum amount which is not chargeable to tax. Whether for the P.Y. 2022-23 the assessee will be required to get his books of accounts audited? If, yes than which section should be selected in the clause 8 of the Tax Audit Form 3CD for the P.Y. 2022-23?

CASE-II – Relating to GST
Question 1 – Whether under GST RCM is applicable for renting of commercial property for Commercial use where the service provider is not registered under GST and the service recipient is registered entity under GST for the F.Y. 2021-22?

Regards,
Shruti Agarwal

I have an income from a let out house property on which I am climbing depreciation in my books.

My question is while calculating income tax is standard deduction @30% under section 24 allowed?

Can I claim the benifit of both depreciation and std. deduction on the same.

Or shall I've to cease depreciation.

We have a partnership firm having a turnover of less than Rs 1 lakhs and a Net loss of Rs 10000 for the FY 2021-22.

Whether Tax Audit required or not?

If a partnership firm incorporated on 01/10/2021 and turnover for F/Y 2021-22 is 85 lac and net profit after Interest to partner and remuneration is 4.50 lacs (< 6/8% of turnover) whether he can file ITR by filling complete Balance and profit & loss account or tax audit u/s 44AB is require for F.Y. 2021-22.

Dear Experts
I have posted a query under GST Category regarding Gst Registration requirement. But it shows "Your query has been posted. Will start displaying after moderation".
Again I have reposted my query under Sam category by modifying it's subject. But it again shows the same message.
I have waited for so long for that query to start displaying but it is not showing.
What to do in this scenario. Have I done something wrong while posting that query. Please resolve this issue.

My client held h building in the name of a pvt ltd now they want to sell this building.
So i want to know the what would be the procedure of transfer and what would be its tax implications and how to distribute capital gain arising from this transaction to share holders or directors its a closely held pvt ltd

Please explain with the help of examples that when section 44AB(a) and when section 44AB(e) gets triggered for Tax Audit and when to choose each of them in the Tax Audit Report Form 3CD
read with section 44AD(4) and 44AD(5).

Thanks & Regards,
Shruti Agarwal

A client is having a proprietorship firm and is also a partner in a partnership firm. Now the client wants to close his partnership firm so I want to know what's the procedure to transfer all the assets & liabilities of the partnership firm to his proprietorship firm.

How to access the details of past ITRs , 26AS, IT Assessment Orders, etc of the deceased person in IT portal by the legal heirs of the deceased person (only PAN Number of deceased is known to legal heirs)

Hi
I have two MCA user 1. Registered user and 2. Business User
Both are for same PAN.
Now on V3 I am not able to upgrade Registered user to Business User as it shows against same PAN user already exist.
I am not able to log in on V3 as Business User since I don't have password. I used to login by attaching DSC.
For Business User
When I do forgot password on V2 it shows- "'This funcationality is not availabe for DSC based authentication''
When I do forgot password on V3 using either same user ID of V2 or email ID of V2 registered it shows invalid user ID .

Please help.