Hi All
One of my client has sold the goods and goods got lost in transit in the month of dec -2020. Goods did not reach to the customer.Client has paid GST liability as well.

Now he has filed a claim with insurance company for the loss. What treatment needs to be given in the books for the goods for GST as customer of the client wants reversal of credit which is seen in GSTR-2B?

Whether insurance company will pay the claim with GST or without GST?

Thanks in advance.

Dear Sir\Madam,

I have to ask you if the flat purchased by husband-wife jointly & making payment from common bank account, than the TDS should be pay to government in the ratio 50-50% or by first holder only. I have to also inform that the ratio was not mention in agreement.

I received Commission Received of Rs. 1,94,65,450/- for the F Y-2020-21. for this case Have to Tax Audit Compulsory or Can File Profit Shown More the 8%. If Showing More then 8% Compulsory Have to Do tax Audit

Please Clarify this Issue Sir

The assessee has deposited LTCG in CGAS account while claiming deduction U/S 54 in AY 2019-20. He has purchased residential property in AY 2021-22 by utilizing entire CGAS account balance. How and where to report in CG schedule in new utility?
Please guide.

Income tax of a deceased person is filed by his legal heir for the period upto his date of death. What will be the case if there are more than one legal heir, say all children get their share as per will? Now who is going to file the return of the deceased and what will be the documents required by him?

In 2020, I have earned some money on maturity of L& T infrastructure Bond-2010 and TDS deducted under 194A. How Can I show it in ITR-2. Please guide me. Where Can I add this income in ITR 2? Income from other sources?

How udin can be updated by a CA in the new income tax portal?
How to view 26 AS in the same?

Our GST sales is below 5 crores. Do we require to give hsn Code for B toB SALES? PL Clarify?

Dear All,

I have following query:

Mr. A gifted 1.50 Crore to his younger son Mr B, aged 25 years, to start the business. From this sum, Mr B purchased a bungalow. He has started his business of renting this bungalow to prospective clients.
1) Will this bungalow be treated as depreciable asset or non-depreciable asset?
2) If this bungalow is treated as depreciable asset, then the depreciation rate would be 10%. i.e. Rs. 15 lakhs depreciation. However, he is expecting total rental of Rs. 10-11 lakhs p.a. After all expenses, he will be in loss. Will he be liable to tax audit due to loss?

Kindly guide me.
Regards,
Suraj

Hi,
I have following income.
Saving Account Interest: 25000
Salary: 15 lakhs
Intraday loss: (-147000)
Short term loss: (-37000)
long term gain: 35000
Total turnover: 350000

I want to carry forward my intraday losses. Will audit be compulsory in my case?
Which ITR form should i fill?
If yes, how much usually CAs' charge for audit when everything (Consolidated P&L) is given by Zerodha.
Isn't it double blow to a taxpayer? He already lost in intraday, now additional burden of audit fee?