Experts

I have a query on write off of unrealised export bills under FEMA.

We are having export debt due from a client in Iran from 2019. Payment could not be made due to sanctions and our AD bank refused to handle remittance from Iran.

Softex is llying on those export invoices.

Now we have decided to write off the debt as bad in accounts.

On approaching AD bank for allowing making bad debt and knock off Softex in EDPMS they have said they cannot act on this matter as it is related to Iran.

Do we need to approach RBI as per FEMA rules or our liability ends on referring the matter to our AD.

Please advise.

When I am running FVU for 26Q it is giving error and not generating fvu file for Q2 return.

The assessee is a proprietor.
For A.Y. 2022-23, his turnover is Rs. 1,84,00,000 (below Rs.2Cr), profit is Rs.1,50,000 ( below 6% of turnover) and total income is below basic exemption limit.

Is audit applicable ?

If I am earning commission income (from rendering services) which is approximately is Rs 20,00,000/-

Whether we required to apply for GST.

What is GST implication in case of Commission income.

Thanks & Regards
Surekha

Sir,
Sec 44ada it assessess cash loans from creditor and cash loan to debtors ledger balance amount show in books as on dt: 31-03-22.
Cash loan from creditor (son) balance amount rs:10 lacs
Cash loan to debtors (daughter) balance amount rs:15 lacs.
Question:
Assessess cash loans from creditor rs:10 lacs amount transferred to cash loan to debtor account adjustment entry passed in books accepted in it act f.y.22-23.

How to do GL scrutiny for Accounts receivable in SAP

WHAT IF I CASH DEPOSIT MORE THAN 10 LAKH IN SAVING ACCOUNT in a year
in small deposits in different dates below 1 lakh each . can I get incometax notice ?

I have to do a project of Accounts in which I have to make a sum with transactions of a company and solve it. For more information please check cbse website accountancy project class 12 . But please please please please please please please help me🙏

Mr.A has contract income of Rs.16 lakhs for the financial year 2021-22. He has interest and remuneration total of Rs. 13.25 lakhs. The aggregate total including interest and remuneration exceeds 20 lakhs limit of GST. Whether Mr. A is liable for GST registration or not ?

Hi Expert,

Our company is food and restaurant based company, at the time accounting the sales made through Swiggy and zomato we debit the Swiggy and zomato, as on March 31st, 2022 their is Swiggy and zomato balance under trade receivables.

So for the purpose of calculating the trade receivables turnover ratio can we consider these sales made during the year through Swiggy and zomato as credit sales.

If not is it correct to disclose the Swiggy and zomato balance under trade receivables?

Please suggest I'm stuck with the point