Sir,

Please help me for following subject

1.My business of furniture turnover up 50,00,000.00 sir i can use composition scheme

2.How many rates calculate for composition scheme for furniture and electrical material selling

3.How to criteria of set-off

4.Help for return criteria

Please help

Our one client import of goods for home consumption (Resale purpose) through FEDEX COURIER AGENCY and paid IGST on total imports. And data reflected under Gstr-2B also. So we can take ITC in GST?

if shares of unlisted co. are transfered then full value of consideration for transferor will be Fmv or actual consideration whichever is higher as per sec 50CA.
Again if shares are received for inadequate consideration then 56 (2 )(X ) apply for trasferee & taxed under income from other source.
Means it is a double taxation for same transaction ????

Dear Sir/Madam,

I had received one message from Income Tax Dept which says that I had not filed ITR for FY21. I responded to this on e-campaign that -
"There is no salary income however there is other income (interest income from FDs, dividend income) and some capital gain. I am in the process of filing the ITR. I shall submit the same shortly."

However, my total income (other income) is below Rs. 1 lac. Though, I had responded that I am in the process of filing the ITR and shall file the same shortly. Do I really need to file ITR as my total income is below Rs. 1 lac if yes how as 31.03.2022 has already been crossed.
If I don't file the return, will I receive any notice?
Request your opinion.

Dear All,

Our is a LLP Organisation. We have taken an office on rent of Rs.7500/- per month. we have done a repairing of office shutter for Rs.3200/-. We have adjusted the same in the rent amount and paid balance to the landlord i.e. Rs. 4300/- in cash. I have passed the following entry :

Office Rent Dr. 7500/-
To Repairs and Maintenance Cr. Rs.3200/-
To Cash Cr. Rs.4300/-

Is the entry correct or there is some other adjustment for the same, Please suggest.

Thanking you,

Whether Microfinance company registered under Section 8 ? if yes, ROC not approving RUN name reservation form due to words like "Micro Benefit/Micro Credit / Micro finance " include in main object clause.

As per RBI Circular stated that Micro Finance Companies Sections 45-IA, 45-IB and 45-IC of the Reserve Bank of India Act, 1934 (2 of 1934) shall not apply to any non-banking financial company which is Circular no. RBI/2015-16/15 DNBR (PD) CC.No.052/03.10.119/2015-16 dated July 1, 2015 (a)engaged in micro financing activities, providing credit not exceeding Rs. 50,000 for a business enterprise and Rs. 1,25,000 for meeting the cost of a dwelling unit to any poor person for enabling him to raise his level of income and standard of living; and (b) licensed under Section 25 of the Companies Act, 1956; and (c)not accepting public deposits as defined in paragraph 2(1) (xii) of Notification No. 118 /DG (SPT)-98 dated January 31, 1998.

Please clarify whether Section 8 Company Can do microfinance business within prescribed limits ?


Please help in this matter. Thanks

Dear Sir,

If a father wants to Gift an amount to an unmarried daughter both in India of around Rs. 30 lacs, will that be taxable. Will there any Gift tax on it.

Please help me in this matter.

Regards,
Divyesh Jain

Hi

Is anybody can share internal audit check list for Jewellery trading company?

Thanks in advance.

Hi,

I am trying to upload to OPC registration forms but once i upload documents in linked e forms, fees is not showing in MCA. if i click on finish button it says your reuest couldnot be processed. There has been an internal application error.

can someone tell me what could be resolution for the above issue?

Hello,

I was trying to update UDIN for my clients in income tax site. I updated most UDINS, however, I received an error for two clients stating "UDIN updation for this form failed. Please provide a valid UDIN."

I checked the UDIN status and it shows "Active".

If anyone is aware on how to resolve this, please help out.

Thank you