If a charitable trust receives a corpus contribution for a specified purpose in the future. Let's assume to purchase a property after 5 years. Can that corpus be invested in:
1) Corporate Fixed Deposit of Bajaj Finance Ltd.
2) Equity Shares of ANY listed company.
or does one need to invest this money specifically in Specified modes of investment under section 11(5) too?
Kindly quote the act or rules before answering. The question is very relevant since today we know a lot of trusts investing in Corporate FDs of Bajaj Finance or Equity Shares of Listed Co.

Dear Sir,
We have supply material to SEZ unit with gst tax during the for F.Y. 19-20 in the month of April 2019 and we have also filed our GST Annual return for F.Y. 19-20.
1. Can we apply for GST tax refund now and which form need to fill.
2. Or just transferred GST tax amount in profit and loss account and claim as expenses.


Please help me.

Dear Sir,
One of our client dealing in Zinc oxide has exported on FOB basis 5 containers in the month of April2021. The containers could not be exported due to non availability of ship. now the exporter is taking 3 containers. The rest of the two we will sell it to some one else in India. My query is
1. Should we cancel the original bill and issue fresh bill however e way bill was issued on original bill. or we issue a credit not for 2 containers.
2. For rest of the two containers can we issue fresh invoice. But the issue which i am thinking that the goods are at gujarat port and we are registered in Rajasthan can we issue invoice from Rajasthan for sale from Gujarat. or any other process is to be followed.

if a company deducting TDS 194J instead of TDS 194C on computer traders vendor.
is it as per the TDS law right??
Please give suggestion.

Is there any penalty for delay in filing of form 49C or any other implications?

Hello Team,

I am working with an MNC company based in India. They make a lot of imports from DK, US like countries in India. And they make payments to the parties from Local Foreign Bank Accounts. Now the issue is, the BOE's are pending from RBI's side and are unpaid. So what is the solution for this. How can we knock these off.

Please suggest the best coaching for US CMA in Delhi (Preference for East Delhi)

Thankyou in advance

Respected Memebrs,

We are a newly set up landscaping firm, kindly help on my first purchase entry.

We have got a contract to supply and installation of Soil and Palm trees to a plant. The contract includes BOQ to supply and install 120 bags of soil, 22 trees, and Grass for land.
Now we have purchased Soil 10 Bags of 20 @ 200 Rs each and purchased 5 trees @ 2250 Rs.each We have purchased this in cash.
Can you tell me how to pass this entry in the tally? At the end of the month, we will be raising an invoice to the client for this supply including installation.

You can clarify if you got any doubt on my query. Thanks alot

Dear Experts,
Earlier mistakenly we have filed ITR-1 for commission of LIC & Post office, the said return has been defective, therefore in response thereof u/s139(9) we have filed ITR-3. CPC has processed the original return ITR-1 in order 143(1) also CPC has consider the short Tax paid 32040 whereas TDS deducted which is being reflect In 26AS is 44679/- as per even original return tds amount deducted is fully refund i.e. 44679/-.

Pls clarify should I file rectification for the same.... If so, should I upload the XML of ITR-3, or only re- processing of return...

Pls clarify what to do.......

Thanks & Regards
Nikhil Sharma

Dear Team,

My father and mother had not submitted their respective pan card details with the company and hence 20% tax was deducted from dividend directly by company in August 2020.
Now I understand that they can still claim an appropriate refund of tax deducted at higher rate from the department by filing revised return.
Can this be done by 31 May 2021.

Regards
Zubin