Sir, I would like to clarify some doubts regarding GST exemption i.e.Is it required to register with GST in case auditors having total turnover more than 20 Lakh including Professional Fee & Agricultural Income or Agri Income need not be considered while determine the threshold limit for registration of GST? For Ex: In case Professional Turnover 18 lakh & Yurnover on Agri Activities is Rs.30 lakh .Then GST registration is mandatory & Collect & pay the GST on professional Fee in this scenario ?

If a father pays LIC premium for his married daughter through NEFT / Cheque, etc. from his account. Can the premium be claimed u/s 80C by the daughter in her return? Please clarify.

Dear Experts,

Please guide me

How to Prepare Trading & Profit & Loss Account for F &O Trading in Case of Tax Audit
Futures and options (Non-speculative transactions)
In Normal scenario, turnover for Futures & Options is determined as follows –
o The total of favorable and unfavorable differences shall be taken as turnover
o Premium received on sale of options is also to be included in turnover
o In respect of any reverse trades entered, the difference thereon should also form part of the turnover.
For understanding the above Turnover is taken as “Calculated Turnover”.

My question is when an assessee opts for Tax Audit in F & O Trading; Turnover to be credited in Trading & Profit & Loss Account shall be
1. Normal Turnover or
2. Calculated Turnover.

If we have to go for Option (1), Normal Turnover shall be credited in the Trading & Profit & Loss Account and normal Purchase value along with all the expenses such as Securities Transaction Tax, Stamp Duty, Brokerage, Exchange Transaction Charges, GST, SEBI Turnover Fees etc. shall be debited in the Trading & Profit & Loss Account , the balance being the Net profit/Loss.

But if we have to go for Option (2), Calculated Turnover shall be credited in the Trading & Profit & Loss Account.

But how to account for the difference in Turnover (Normal Turnover Vs Calculated Turnover) .

• Suppose Normal Turnover (Sell value) in case of F&O Trading is Rs. 250.00 Lacs and Calculated Turnover comes at Rs. 50.00 Lacs

• Now, since we have to credit Rs. 50.00 Lacs in the Trading & P & L A/c (Calculated Turnover), How to adjust the difference of Rs. 200 Lacs (250 – 50)?

• Shall the difference be adjusted with the normal purchase value?

• Whether all the expenses such as Securities Transaction Tax, Stamp Duty, Brokerage, Exchange Transaction Charges, GST, SEBI Turnover Fees etc. shall be debited in the Trading & Profit & Loss Account?

We got approval through RD for extension of AGM and for this the MCA is showing approved status but we didnt receive the approval letter on email. So do we have to raise the ticket or any email id is there? Pls advise

Dear Sir,

While filing Company return form in ITR 6 in sale of Services column in itr we should consider the value of sales inclusive of GST or exclusive.

As if I include gst in sales, amount paid in 26as won't match because it excludes gst amount.

Please help me in this matter.

Regards,
Divyesh Jain

Sir my PAN No already registered , but while filing ITR it sys pan not registered . Though I am trying to re register the same after validation of Pan only basic details filling but unable to fill the contact details .How to rectify this error. new portal is worst different type of problems coming.
The useless grievance cell not responding
any idea sir ?

Hi,
I have been trying to reserve company name since last 1 month but every time payment page is getting expired with the error "Your session has expired, please login again to continue accessing the services. Have raised multiple tickets with MCA but no resolution till yet. Can anyone please confirm if there is any resolution to this.
Thanks in advance

Sir,
Any it person purchase below mentioned assets payment way by cash or bank both modes or cash mode only accepted in it act.
1.purchases of jewellery
2.car
3.vacant site
4.agrilculture land
5.purchases of commercial property
6.purchases of residential property.

I have income only from short term capital gain of Rs 200000. I had brought forwarded short term capital loss  of Rs 500000 from previous years. Can I carry forward the previous year loss of Rs 500000 as my current year income is below 250000 and is not taxable?

I HAVE DECLARED MY INCOME UNDER PRESUMPTIVE SCHEME UNDER SEC 44AD FOR THE AY 2021-22 BY OPTING ITR 3. WHETHER CAN I OPT TO DECLARE THE INCOME OTHER THAN PRESUMPTIVE BASIS FOR THE AY 2022-23? IS THERE ANY LOCK IN PERIOD FOR THE 5 SUBSEQUENT ASSESSMENT YEARS IF I DECLARED INCOME UNDER PRESUMPTIVE BASIS FOR THE AY 2021-22 IN ITR FORM 3. WHETER I NEED TO MAINTAIN BOOKS AND GET IT DONE AUDITED IF I WANT TO DECLARE INCOME OTHER THAN PRESUMPTIVE BASIS FOR THE AY 2022-23?

CAN ANYONE PLEASE CLARIFY ON THIS?