Sir/Madam
Please provide guidance. A payment was made to party A in May 2020 on which TDS was not deducted. This mistake is identified and TDS pertaining to May has been deducted from Payment made to party A in November 2020. It's TDS is deposited in Dec 2020. TDS return of Q1,2 and 3 has been already submitted. But party A's details not been shown in any return. Now do I have to correct Quarter 1 TDS return to show the May 2020 payment and TDS thereon along with correct Q3 return to show November payment and TDS thereon. Or do I have to correct only Quarter 3 return showing date of 2 payment as May 2020 and Nov 20, date of deduction of both as Nov 20 and date of deposit of both as Dec 20. Please clarify this Thanks in advance.

What if I have taken credit of FY 2019-20 in the month of September 2020, but the return is filed after the due date. Whether I am required to reverse the ITC?

Hi, I have enrolled for PTEC in Maharashtra in March 21 and I also paid Rs 2500 towards PTEC as Free lance Professional accountant on 11th March 21. My Payment was done successfully via Grass-SBI e Pay- ICICI Bank and my account got debited with 2511.80 Rupees. However MTR6 challan could not get generated due to some pop up blocker issue and I could not download the receipt. Now I am visiting the Grass site with the GRN number ( the SMS was received for GRN number from MHGRAS) but it says GRN not valid and I am also unable to find it from MahaGST site as I could not locate the Payment- Transaction history. I am doing the log in via the initial email received from MSTD for the User ID and Password for TIN created confirmation. However with that login, I am unable to put this new Enrollment number as TIN so not able to see the Payment history.

How do I generate the challan MTR 6 now for the payment proof?

Dear Sir / Madam,

In aug-2020 exports have been made with IGST by us from JNPT, but by oversight in GSTR-1 shown it as letter of undertaking, during month of Sept-2020 error has been rectified through table 6A and the system also accepted but till today we could not get the refund of IGST. We enquired at ICEGATE, book the ticket but they are telling us that first scroll have to generate from customs and only than after refund can be release. contact made at JNPT over call and mail but could not get the result. Please guide us what we have to do for the IGST refund.
Thanks

A Ltd is located in an IFSC and has distributed dividend. What & in which section would be tax implications in the hands of shareholders. Solve my query please.

Suppose iam having propitorship business and cash sale of 1lakh rupee per day so monthly 30 lakhs.. i deposit 29 lakhs in current acnt of bank and take 1 lakhs rs cash to home for expenses monthly and show that drwaings in accounts
So taking 1 lakh out of business for personal use in cash would amount to violation of sec269st where above 2 lakhs we cant tak cash on an event.. so here i am taking 12 lakhs in a year cash.. so would i lialble for penalty here same as in cash of partnership firm sec 269st applicBle on profit withdrawl in cash

Dear Experts, Capital subsidy has been received (2017-2018) by a firm. To purchase the (Embroidery Machinery)asset the firm has taken term loan from a bank. Now the bank has received the capital subsidy Which bank is showing in the Subsidiary Loan Saving Account, there is no change in the O / S terms also, how to do it in the entry book?
Is this entry correct for me?

Term loan A/c Dr. 700000
To Subsuidy A/c. 700000

Mr. A is a CA holding certificate of practice, is also holds directorship (by virtue of being a minority shareholder) in a private company (Company X). He appoints his junior Mr. B, who has passed CA and holding a separate certificate of practice, as an auditor in the Company of holding directorship. All the finalization of books, closing entries, preparation of financial statements has been made by Mr. A and Mr. B puts his seal and signature on the Financial statement without verifying the authenticity of the financial statement and without the approval of the board. The other Board member of X company not informed of the signed financial statements and later efforts are made to convince the signed financial statements. There are many irregularities that have been observed in the preparation of financial statements like lack of carrying out inter-company reconciliations, failure to get the bank confirmations, adjustment is made to related party books with the approval of the board, etc.
Now, the Majority shareholder wants to have a legal remedy for the above problem. Whether the above members (A & B) can be punished for the above wrongdoing.

sir,
A bakery products selling gst registered composite dealer two type of selling products.
1.own products selling cakes, puffs etc.
2. branded products selling biscuts ,chips etc.
Question:
Dealer above sale transactions which composite tax rate applicable in gst act.

Private Society run in the land and building of the president , till date no agreement made for rent, and usages.
What can we do president individual ITR in deemed rent,
And how to determine society rent expense in accounting.