dear sir
we start a partnership firm in april 2020 for starting a menufacturing unit, we purchase land and start bulding cunstruction start in 2020-21 but no singal machinery installed and business not started up to 31-03-2021, some expences was incured like building, bank loan processing fee, and small amount of interest charged by bank on loan disbursed for building making.
please guid on following issue-
1. filing of itr
2. charging of deprication
3. treatment of expenditure in income tax
thanks

Dear Respected Members,

Can we consider the purchase of Mobile and power bank as a fixed asset? if not under which head in tally? especially power bank?

Hello Sir/Madam,
Query: If one of the directors is appointed as Director under section 8 company, but the company has not filed INC20A (Commence of business not filed) please advise how the director can take resignation-way out to exit from section 8 company.

if a company gives gift sets and wrist watches as gift to its customer, for this it purchased gift sets and watches from vendor and the bill amount is more than 30000. Shall the company deduct TDS on it or not?

Sir If The Invoice Was Rs. 110 and the party given discount of Rs. 10. But in BOE item value shown as on Rs. 110

1.Then Whether I should record as 110* Conversion rate
2. Or Should record 100* conversion rate and Rs. 10 as discount recived

I have 100 shares of " Tata Motors Limited EQ New NPP FV Rs . 2/ - Class A." . I am unable to sell these shares even through my broker. he says they are not responding. Please let me what the problem is ?.

Query :

Location of supplier : Hyderabad (Telangana state)
Location of recipient : Hyderabad (Telangana state)
Service : Renting of immovable property(997212)
immovable property location: Bangalore (karnataka)
place of supply as per rules : Bangalore
Here location of supplier and place of supply is in a different state, hence it is inter state supply

Finally i have to charge IGST to my customer who is in Hyderabad.


is my assumption based on above facts are correct?


If NO, plz clarify with proper explanation.


Thanks in advance

Dear Friends,

I am handling one company incorporation after submitting the documents it has been sent for resubmission to rectify some details. After rectifying the defects, I try to resubmit the documents but it says " Details of Directors entered in SPICe Agile form does not maches details as entered in SPICe form.Kindly enter the correct details"  I have gone through the entire form but no mismatch is found. I need your suggessions/help to resolve this issue.

Thanks.

I own a property in the joint name of my mother and me. This was purchased in 2020. This property was purchased using proceeds including capital gains from selling 2 flats, we were joint owners in one flat and my parents were joint owners in the second. This reinvestment ensured that we didnt have to incur LTCG on sale of our earlier properties. In addition to this, we also used a home loan and some own funds to complete the purchase.

My mother wishes to relinquish ownership of the new flat and transfer her complete share in my name. I in turn also wish to add my spouses name to the property. Both of these can be done by executing gift deeds on the property, however, considering we had invested in this property to avoid tax on capital gains, is there a possibility of any tax implication if we proceed with the gift deed?

We imported used machines and due to quality issue all machines were not in operational condition. payment could not do 3 years. after mutual understanding come on a conclusion that we are not paying the import dues. For settling the same the supplier has given us a confirmation on mail with credit notes, to write off the dues. Please advice what is the procedure for write off the import dues from the RBI and what is rule of RBI if not pay dues amount ?