One of my client, a grocery retailer, having composition Registration, has closed his business of grocery completely and wants to commence new business of hardwares , ties etc. in the same shop. Whether he should surrender his earlier registration and apply for a new one Or he should amend his particulars of business in old registration ?

Hello, if they say w.e.f. from 01-04-2023 in finance act for any provision, does it mean it will be applicable from a.y.2024-25 onwards or does it mean notice issued after 01-04-2023 even for earlier a.y. as well.

HELLO SIR/MADAM MY FIRM IS PARTNERSHIP FIRM AND FOUR PARTNER IN THE FIRM ENCLUDING ME. SIR/MADAM FEW DAYS BACK I BOUGHT A NEW CAR AND FOR THIS SOME PAYMENT I PAID FROM FIRM ACCOUNT THROUGH CHEQUE AND SOME PAYMENT I PAID THROUGH CASH AND BALANCE PAYMENT I PAID THROUGH FINANCE WHICH I BORROWED FROM BANK WITH MY PERSONAL NAME BUT THE LOAN EMI IS DEDUCTING FROM MY FIRM ACCOUNT. PLEASE TELL ME HOW WE DO MAKE ENTERY IN OUR FIRM ACCOUNTS BOOK ?
KINDLY RESOLVE MY ISSUE EARLY AS POSSIBLE.

1.Partners remuneration is taxable or not.. For eg;current ac balance is 75000 and we add remuneration as say 1 lakhs.. if we close a partner's current on tranfer amoount to her,which amount it is taxable
2.If a partner invest a certain amount of money into business, while withdrawing the money whether it is taxable or not
3. Is there any limit to withdraw amount from partner,s current account

Holiday expenses reimbursed to employee. Whether allowed/disallowed as expenditure to the company in IT Act even after same is considered as perquisite and taxed in the hands of employee?

Mr. A provides his own Trucks to Company and MR.A want to pay GST on Forward Charge Mechanism. Mr. A also want to claim whole amount of ITC of Truck.
Then at which rate Mr. A shall recover GST from the company ?

Respected Expert

I need Format of Job work Challan as per GST Act.

Your early action shall be highly appreciated.

Please provide

Dear Sir,


We are manufacturing concern and operating in sale and purchase of Waste. on Purchase of waste TCS already collected by the seller u/s 206. Whether we are required to deducted TDS u/s 194Q on Purchase above 50,00,000.00.

Thanks in Advance

Sir/madam
Is it necessary to have health insurance to claim 80D deduction??? if not can i claim medicine expenses incurred for self, children and parents under 80D without having Health Insurance???/

Respected Sir,

How much GP and NP Show in PL account means Can we increase 1 to 2% from last year means how much increase from Last year if Turnover increase Rs.40 to 50 Lacs Previous year GP and NP 7.21 & 2.23 Current year 8.25 & 3.23 is Justifiable please suggest we are confused (about book cover audit )