Sir;
Assessee deposited cash of old notes during demonetisation period of around 35 lacs. Closing balance of cash on 8 nov 16 Say Rs. 24 lacs. Assessee is engaged in the business of liquor sales. AO adds Rs. 11 lacs under section 68 as unexplained income & charged tax us 115BBE @60% Plus surcharge @ 25%. However this 11 lacs assessee has showns as business income. Since assessee is a liquor dealer he cannot accept cash during demonetisation period. Is there any other way to defend ???

A partnership firm with five partners having equal profit sharing ratio, of which one partner is a Private Limited Company and two directors of the company are also partners of the firm which owns immovable properties some of which are stock-in-trade and some are held as capital assets is going to be dissolved as four  individual partners are retiring from the firm, and they will get the capital balance in the firm from firm on retirement and all the assets and outside liabilities shall remain with the only continuing partner i.e. the company.




My queries are as follows:

Whether  there will be any tax liability upon the retiring partners, erstwhile firm or the sole proprietor i.e. the company ?
How will the company get legal title of the immovable properties ?
What accounting entries will be passed in the books of account of the company ?

Dear Sir,

We are dealing in trading of imported Non-coking coal. Due to nature of Item we have difference in physical and actual stock of goods. Now we want to write off differential stock in books.

In non-coking coal GST charge @ 5 % and Compensation cess 400/- per MT.

My query is we need to reverse ITC and Cess in case of normal loss ?

The loss of goods is not in our control.

Individual bought land for 10 lakhs during 2005. Individual rented the land to a Private limited company in which that individual is a Director and the private limited company constructed building for Rs 25 lakhs during 2016 in the land and claimed depreciation for the building. Individual sold the land with building for Rs. 100 lakhs during 2021. Kindly clarify the long term capital gains.

Sir,
I have GST registration in rajasthan. My nature of business is related to tiles. I am buying tiles from Morbi (gujarat) and want to sale tiles directly to uttarpradesh from morbi.

Whether i have to take new gst registration for gujarat or not?
if not any requirement, then what we have to do for such type of transaction.

If assets are reached to its selvage value and no longer available physically so the same is w/off in books . What are the implication in such cases with regards statutory laws alike gst/service tax and TDS /TCS and income tax.

does this implication is applicable if the assets not reached to selvage values and physically not available and need to w/off in books.
Experts please advice.

i am applying for ca membership at SSP PORTAL, but portal shows 2 transactions are pending.1st is form 112 and other is form 108 for revision of excess leaves.
form 112 was se4nt by me manually but there is no updation at ssp portal. can you plz tell me the solution for this 2 queries so that i resloved them and enrolled as member.

Kindly Share the Salary TDS calculation Format in Excel for FY 2022-23 with all Applicable Sections.

There are 2 questions:
1) ICAI Module states that express power of Articles is required to declare Interim Dividend whereas Companies Act itself provided the power is Sec 123 (3) and does not mention any such requirement.
2) ICAI Module states that Interim Dividend can be revoked by consent of all shareholders but Companies Act is silent. However Companies Act states that all provisions of Dividend shall apply to Interim Dividend by virtue of Definition Clause. Therefore since Final Dividend cannot be revoked it shall mutatis mutandis be interpreted that Interim Dividend also cannot be revoked.

So is ICAI Material incorrect in this respect, or is this interpretation defective. Kindly clarify

Error "Date of notice mentioned in the return mentioned does not match with the date as per notice." but we have correct notice date mentioned in return.