E Invoice applicable to our firm.

is it require to issue e invoice for RCM payment on freight.

Please explain?

A battalion of reserve police force (RPF) has been allotted a petroleum retail outlet by Hindustan Petroleum Corporation Ltd. for sale of Petrol and Diesel.

The battalion office has got its PAN under Government category with 4the character of PAN being 'G' and based on that PAN GSTIN has also been allotted. The petrol pump is selling Petrol and Diesel to public, other departments of state and central governments, and it has captive consumption as well.

The sale during the FY 2021-22 which is the first year of operation is Rs.11.13 crores.

Please advise on followings :
1. Whether Tax Audit will be applicable ?
2. Whether the battalion office would be liable to income tax on the income earned from Petrol Pump operations, if yes, then what would be the rate of income tax?
3. Whether the battalion office being a government office of state government would be required to make TDS u/s 194Q.

I am a registered person in GST with business of Cloths.

I want to start the mobile business in the same GST registration with the same state.

Is it possible to do two different nature of business in same GSTIN.

If Yes what should I have to done for the same.

Respected Sir,

My query is as follows:

A consignment was exported in May 2021 but due to certain reason funds from the buyer are no more expected. Can we write-off the funds expected on account of BAD Debts? Whether Income tax will allow us to do so? Whether certain formality on this issue is to be done with RBI?

Sir,
It assessee purchase of some shares previous last 7 years .if assessess shares transferred to son or sales of shares benefit in it act.

Sir,

I want a solution with respect to the following situation.

Company total number of share was 55519 (face value of Rs. 1000). How can I issue bonus share, if I have Surplus of Rs. 20000000. What was the solution to issue bonus share if the total number of share was not divisible by any other number.

Dear Experts,

Is there any restrictions in adding deductee records while revising the TDS Return?

For example, in original TDS Return, 100 deductee records are available. But at the time of revising this TDS Return, 1200 more deductee records will be added.

Kindly confirm.

Sir,


I want to know the TDS applicability in respect of the following payment to a professional (Sec. 194J)

Rs. 5000 (before Tax) on 04-05-21
Rs. 15000 (Before Tax) on 07-07-21
Rs. 5000 (before Tax) on 09-10-2021
Rs. 20000 Before Tax on 05-02-2022

The exemption limit available for professional payment was Rs. 30000 p.a. Here first three bills, because of not crossing the limit I have not deducted any tax and paid full amount to the party. But on receiving the last bill the TDS provision attracted and liable to deduct for the whole amount from the beginning.

Then here I want to know how can I deduct and pay the tax. Whether I have liable to pay with interest based on the bill date or deduct full amount of tax from the last quarter bill and pay without interest and show deduction details in the last quarter return. Because as per TDS provision liability arises at the time exceeding the exemption limit.

please clarify

I am business man and I have partner of 2 business and director of a company. I have received partners salary and directors salary. My yearly income was approximately 25 lakh. Now I think that , have forming a partnership firm with my family member and issue taxable invoices to these entity as professional business consultant. In this situation can I opt 44ADA for my partnership.

In FY 2020-21 an individual who is director in a private company receiving salary from company @Rs.20 lacs per month totalling to Rs.2.40 crores on which TDS has been made by the company as per provisions of section 192. The individual is also partner is a firm from where he received Remuneration of Rs.48 lacs, Interest Rs.35 lacs and share of profit from firm64 lacs. The individual has taken unsecured loans from parties , NBFCs and invested the same in the firm as capital of partner,
He has to pay interest on unsecured loans for FY 2021-22. Please advise as to his liability to make TDS u/s 194A . Thanks