I need a suggestion on the above mentioned subject,,as on login it is shown that a notice has been issued to assessee through mail, but no such mail is yet received also asseessee has got intimation through message on phone

I am one of the trustee of a private unregistered trust, which was created by my father and has two trustees at present. Due to personal issues we are unable to carry out the functioning of the trust and would like to close it. The trust has only one account and we propose to transfer the entire balance in the savings account of the trust to another trust and close the trust account.

Can we do it and are we supposed to advise or report to any authority about such closure. The trust has its own PAN No. & since we are regularly filing the trust IT Returns are we required to report the closure to IT authorities and also surrender the Pan Card.

Please advise

Thanks

Virender Malla

Hi,

Greetings!

One of our Auditor has issued us invoice of Internal Audit but he is unregistered under GST.

Should we have to pay the GST under Reverse Charges.


Thanks & Regards,
Ritu Bangari

sir where does interest on drawings goes i.e. whether to p&L or p&l appropriation a/c.......morever how can a partner give loan to partnership or receive rent from partnership for use of his land by paertnership as partnership is not a separate legal entity. so partner and partnership is one and the same.. so how can one given loan/or rent to himelf.

My age is 65+ my younger son looks after the business. I want to transfer the business in his name which will have minimum or no tax implications.
I have no Land or Building in the Balance Sheet but computers, Machines etc. & Current Assets.
There is no debt in the BS.
MSME registration is done in the Name of the Organisation.
GST Registration is not applicable to me. Please help me out.
Thank You.

Sir,
A doctor running a private hospital treatment covid-19 patients in hospital.if a hospital penalty some amount pay to government.
Question:
Assess penalty pay amount treatment (show in business expenses or not business expenses ) procedure in accounting books in it act.

I Have one client filling return under QRMP Scheme, In this scheme his tax was payable from Jan 21 to March 21 is 58838/-, but now for the month of April 21 he have excess input & no tax has been payable , Is he liable to deposit tax @35% of INR 58838/- for the month of April 21 in this scheme ? as no tax is payable he cannot create challan in self assessment method . Please reply

Dear Sir,

We have taken insurance against import of machinery on 12.03.2021 but machinery in actual received on 12.05.21 (due to ocean transit)

Now, where to book Rs. 10000 /- Insurance Expense in FY 2020-21 or FY 2021-22,

I have uploaded Fillip form on MCA portal but getting 2 errors repeatedly 

1) In NOC signature is copy pasted, where as this is not the case. It's a scan copy of the original document.

2) The registered office is a subleased space. I have provided deed between owner and lessee as a proof of lease and also deed between my client and lessee for sublease. But utility bill is in the name of owner , as a result MCA has pointed out an error that name mismatch in Utility bill and NOC

Any help on how to get around these errors will be really appreciated. 

Non audit individual running a business turnover less than 1 crore,is liable to deduct Tds on commercial property in which is is operating his business?
Please suggest.