HAI SIR,
I AM WORKING SEZ UNIT, WE ARE 100% EXPORT BUSINESS.
I NEED SOME CLARIFICATION FOR BOOKING FOR SALES, RECEIPT & CONVERSION ENTRY.
1. SALES ENTRY :
CUSTOMER A/C CR $ 1,000/- @ 69/- = RS. 69,000/-
TO SALES A/C DR $ 1,000/- @ 69/- = 69,000/-

2. WHEN THE MONEY RECEIVED : CUSTOMER A/C DR $ 1,000/- @ 70/- = RS.70,000/-
EEFC BANK A/C CR $ 1,000/- @ 70/- = RS.70,000/-
DIFFRENCE AMOUNT RS.1,000/- FOREX GAIN ( THIS AMOUNT ACCOUNT GOES TO CUSTOMER A/C )

3.BANK ENTRY RELATED :
WE RECEIVED PAYMENT FROM CUSTOMER ON 01.07.2022 $ 1,000/- @ 70/-

WE ACCOUNT IN TALLY FOR BANK ENTRY :
CUSTOMER A/C DR $ 1,000/- @ 70/- = 70,000/-
EEFC BANK A/C CR $ 1,000/- @ 70/- = 70,000/-


EEFC TO LOCAL BANK TRANFER A/C.
EEFC AMOUNT CONVERT INTO LOCAL CURRENCIES.

EEFC BANK A/C DR $ 1,000/- @ 72/- = RS.72,000/-
TO LOCAL BANK A/C CR $ 1,000/- @ 72/- = RS.72,000/-

BALANCE RS. 2, 000/- EXCESS IN BANK BOOK .

HOW TO ADJUST IN BANK BOOK. WHICH LEDGER PASS THIS DIFFRENCE.
KINDLY GUIDE ME .

If I am getting multiple stock units of RSU/ESPP for sometime. Those stock units also come with dividends. I have done multiple sell transactions and also have couple of buy transactions.

Can I just have a single entry in schedule FA showing my entire holding in the company or I need different entries for each transactions like buy, sell? Wouldn't finding peak values, intial date and which stock where I got the dividend would be a tedious task?

Also, for ESPP what should be the value of "Total gross amount paid/credited with respect to the holding" field?

Sir,

We are charging TCS on Scrap (Paper ) sales @1% u/s 206 . Now the buyer saying that his turnover exceeds 10 cr , he will deducts TDS u/s194Q and No need to charge TCS. Is it acceptable or not ?

Plz reply

Cryptocurrency for the F Y-2021-22 In Income Tax Returns Under Which Head have to Shown and How much % Tax Rate Applicable of this . for the F Y-2021-22. can i Shown Under Short Term and Long term as a Equity. Please give the of your Valuable Suggestion about this Sir

Sir,
one of my client filed ITR 1 for ay 2021-22(income Rs 3.40 lac only) with in due date, their was a TDS entry US 194H(Rs 15K TDS Rs 750) which was denied by my client, so I filed grievances request to rectify my 26AS
Now few days ago AO ask that party for above entry in 26AS and my client ask me to rectify because that entry was related to him
Now please suggest how to take correct action
regards
Vikas

If both the business entity not crossed 10 cr turnover in the previous year, but croseed ceiling limit of 50 lakhs turnover in current financial year which provision will apply for tds ?

What is the reason for ceiling limit Rs.10 Crores set for TDS/TCS

Dear sir,
one employee of our organisation for A.Y 2021-22 ITR-1 return is not filed. in form 16 TDS amount 24000 is there because at the time of giving employee declaration employee opt new tax regime so tds is deducted by employer even though he is submitted children education fees , LIC etc.. By filing Updated Return Can we get total refund amount..?

Thanks in advance.
Regards,
Bheema Reddy.

Dear Sir,
We have made several transactions with 1 party(Vendor) registered in 2 different States (eg - Delhi & Haryana), now with Haryana party GSTIN consolidated Transaction value is more than 50 lakhs in this year but with Delhi GSTIN Consolidate transactional value is less than 50 Lakhs in this year.
We want to know whether the exemption of 50 Lakhs is given to both GSTIN or not as we are eligible to deduct the TDS on purchase. Kindly Clarify

dear sir,
i pay transport charges for purchase of goods .but transport is not registered and small truck transport please advice me i have to pay rcm on transport charges paid by me or their is any exemption limit for this
with thanks

Sir/Madam

Two days before i was tried to submit 10E for getting relief of arrear salary received during 2021-22. Mobile no is not linked with my adhar card so OTP is not generated. So 10 E form not successfully submitted online. I summited ITR V on the same day.

What to do for form 10E?? Can i will take printout and submit with ITR V at Bangalore Office??
Is any option to generate OTP.? Netbaking is not possible and OTP generate through ATM machine, i tried it but option is not found out.

Please guide me at earliest.