Daya
26 February 2022 at 12:14

Loss how to distribute among partners

Loss of partnership firm how to distribute among partners, if there are profit sharing ratio is A-50%, B-40% and C-10% and Total loss Rs, 10,00,000
can i pass journal entry , and whether is true or false, please reply
A Capital Account Dr Rs. 5,00,000
B Capital Account Dr Rs. 4,00,000
C Capital Account Dr. Rs. 1,00,000


professional

My query is the following:-

whether the long term capital gain against property can be adjusted against the short term capital loss and long term capital loss on selling of equity shares under DEMAT account. All transactions by online banking. Will appreciate your advice and inputs on this query.


Daya
26 February 2022 at 11:36

What is Drawback or Benfit

in some companies i have seen that
there only three ledgers open for
CGST
SGST and
IGST
For purchase and sale
But in some companies , i have seen that
CGST Input, CGST Output
SGST Input, SGST Output
IGST Input ,SGST Output
for Purchase CGST input , SGST Input and IGST Input
For sale CGST Output , CGST Output and IGST Output is open
which is better and why for maintaining books of Accounts.


Kollipara Sundaraiah
26 February 2022 at 11:24

It doubt and 26as information doubt

Sir,
Question:1
It assessee cash deposits limit for one financial year
1.cash deposit in bank sb account
2.cash deposit in bank current account
3.cash fixed deposit in bank and postal .
Question:2
It assessee 26as information mentioned below show procedure in books.
1.sec 194j b rs:50,000/-
2.sec 194 I(b) rs:1,50,000/-
3.sec 194 k mutual fund rs:202.16
4.sec 206cq ICICI Bank rs:4890/-


Daya

what is LUT and what is its benefit and when it is obtained,


naveen
26 February 2022 at 11:03

GSTR 9 & 9C Filing

Hello,

Whether it is required to file GSTR 9 and 9C if my PAN based turnover is less than 79 Lacs showing on portal (my business is sale of used vehicles and charge Gst on margin ).
However my Audited Turnover as per income tax is more than 2 Crore as it includes total amount of car (cost+margin).
Thanks


Daya

how to calculate depreciation for No. of days in SLM for purchase of Fixed assets year,


CA Parul Saxena
26 February 2022 at 09:36

GSTR9 query taxble value urgent please

can we change the taxable value figure in GSTR9? Actually we omitted to addjust a Sales return in GSTR1 and GSTR3B both but liability was accurately reported after considering the sales return affect and GST was correctly paid..
Just Taxable value was not altered.. can we rectify the same in GSTR9?


Kollipara Sundaraiah

Sir,
It assessee loan purpose amount received from non resident person (friend )rs:15 lacs through on bank mode after 2 years amount repayment to non resident person.
Question:
Assessess above mentioned loan amount transaction accepted or not accepted.


ashu ashish

For assessees having income other than Business or Profession for exercise of tax under new regime whether online submission of form 10IE is necessary ?
ANS No
Read more at: https://www.caclubindia.com/experts/form-10ie-rule-21ag-2862324.asp

Please refer to above query
I filled ITR under new tax regime by choosing section 115BAC while filing ITR. I did not filled form 10IE (as answered in above query). However, I received intimation under section 143(1) my claim under section 115 BAC was rejected and income tax was calculated under old tax regime. I am salaried employee with no Business/Professional income. Could you let me know why my return under New tax regime was rejected and what steps should I follow now to rectify it?