Dear Sir,

Case A - Assesse is liable for Tax Audit
Question No. 1 - Section 269ST states that the person cannot receive Rs. 2 Lakh or more in cash in aggregate from a person in a day while section 40A(3) states that the person cannot do payment of more than Rs. 10,000 in cash in aggregate to a person in a day. Sir I find that the section 40A(3) overrule section 269ST as :-
(i) if you cannot do payment of more than Rs. 10,000 in cash in aggregate to a person in a day than how the other person can receive more than Rs. 10,000 but less than Rs. 2,00,000 in cash. So here the Section 269ST does not have any relevance /use.

(ii) if a person does the payment of any amount in cash but less than Rs. 2,00,000/- than the recipient can receive the amount in cash without any contravention of section 269ST but the payer of the amount will be liable for the violation of section 40A(3) so the payer of the amount will never ever do the payment of more than Rs. 10,000 in cash and hence again the recipient will never receive an amount of more than Rs. 10,000 but less than Rs. 2,00,000 in cash and consequently section 269ST same as in case of point no. (i) above will never come into play.
I cannot understand how both of these sections can be applied in real life?

Question No. 2 - Can a assesse liable for tax audit make an invoice of cash sales more than Rs. 10,000 from a person in a day and receive cash from him as he is the seller and can receive any amount less than Rs. 2,00,000 in cash from a person in a day as in this case there is no violation in respect of section 269ST on his(seller) part irrespective of the fact that the their will be contravention of the section 40A(3) by the buyer if he does the payment of more than Rs. 10,000 in cash to him(seller) in a day?

Case B - Assesse is not liable for Tax Audit

Question No. 1 - If the assesse is not liable for tax audit and files his return u/s 44AD as profits are presumed to be 8% of their turnover so whether the assesse still has to abide section 40A(3) and section 269ST?

Question No. 2 – Can a assesse not liable for tax audit make an invoice of cash sales more than Rs. 10,000 from a person in a day and receive cash from him as he is the seller and can receive any amount less than Rs. 2,00,000 from a person in a day as in this case there is no violation in respect of section 269ST on his(seller) part irrespective of the fact that the their will be contravention of the section 40A(3) by the buyer if he does the payment of more than Rs. 10,000 in cash to him(seller) in a day?

Regards,
Shruti Agarwal

Sir,

fixed deposit Interest of Rs.32046/- reflect in AIS of Code 016TD interest of deposit RS.32046/- and Saving Interest Under SFT Code 016SB interest of Saving RS.240/- But no transaction found in form 26 AS These are highly value transaction ? its any serious matter can we face any issue please suggest

Dear Sir

I have fixed depoist Rs.479000/- and 141500/- in both bank where interest earned RS.27146/- and 8940/- In 26 AS Under SFT no Transaction but AIS shown under SFT Code 016TD interest of deposit RS.36086/- and Saving Interest Under SFT Code 016SB interest of Saving RS.2240/-I have never done any high value Transaction so Why it reflect in SFT please suggest i am very worried about

Dear Sir
I am working as a accountant in Resort, providing rooms and food also, if customer wants we will supply food to their rooms, apart from outsiders are coming for lunch and dinner only. what rate of GST has to be charge and we are registered under Regular . kindly suggest me sir
Thanking you
S. Joshi

I am planning to Appear in May 2022 after a break of 3yrs Please help me to choose the best professor and Books of CA Final. Also which jux checking the same on the goggle I found UnAcademy is it worth to take coaching form them are all their professor good enough my main focus would be FR in Grp one and DT in grp 2

I bought a piece of land 3 years back for ₹1 lakh. Today its value is ₹2lakhs.
I want to introduce this piece of land as capital contribution in a company.
Would this result in capital gain tax for me?

Dear Sir

Please help me i am little confuse someone worried me if you file your ITR then you face to notice from IT department because you mention your all saving account detail in ITR. Sir, its reality or not i have never filed ITR because annual income is less then basic limit. but i am saving Rs.90K to 1.10 Lac each year from Since 2007 Company graduity & PF withdrawl also in Bank. We have converted to FD
Kindly suggest,

Sir,

Please help
Proprietor has been dead in books of account Capital of Rs.1274000/- Distributed to His both sons equally. entry passed in books of account Capital account Dr. 637000/- Dr. Mr.A son HUF Cr. 637000/- and Capital account 637000/- dr. MR.B son HUF Cr. 637000/- in 31.03.2021 Capital account NiL In Current Financial year 21-22 Same Firm Business Transferred to MR.A son. with new Registration.
Now query is in busy in which Group I create the ledger of Both sons MR.A and MR.B
its under Unsecured Loan or any more please suggest

HI,
Any one can explain the advantage & disadvantage of not accepting gstr-07 return by the vendor.
Lots of time I obsrvd that r vendor,do not give attention to the GSTR-07 retuen filed by us, as a result I m unble to download TDS certificate. This is the reason behind my query.

WE ARE UNABLE TO FILE 115BAA
BELOW MENTIONED ERROR
Application for exercise of option under section 115BAA(5) of the Income Tax Act 1961[ Form No.10-IC]
Application for excercise of option under sub section 115BAA of the Income Tax Act 1961. The form is in compliance with rule 21AE
SUBMISSION FAILED
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