Sir / Mam
We are Private Ltd. We are in position to show the provision for income tax up to Rs.14,00,000/- in the final report.

Our Auditor has advised us to show it in Profit and Loss account from the account of TDS receivables of Rs. 25,92,321/- as on 31-03-2021.

That means, he tells us to pass a contra entry between P & L account and TDS Receivable account.

As this is very first year of filing, Plz advise us whether this concept is correct or not.

Thanks in adv

whether rebate is available in lottery incom?

Eg salary 300000/-
lottery 15000/-

Hello All
My client has given his residential property on rent for Rs60000- pm to an individual.
I want to know:
1. Is there any tds applicablity on the tenant. If yes how much tds he will deduct monthly or annually?

2. If the commercial shop is given on rent then what is the applicablity of TDS on the tenant who is individual..

Pl advise.
Regards

M/s XYZ Pvt. Ltd., in the normal course of business, obtain funding from bank in the form of fund based as well as non fund based. Bank levy bank charges, processing fees, etc. On this TDS is not deductible.



Now, say M/s XYZ Pvt. Ltd. is in requirement of more funds and bank is not funding the requirement. So M/s XYZ Pvt. Ltd. goes to say M/s PQR Pvt. Ltd. who has bank facility available. They enter into some common agreement wherein PQR Pvt. Ltd. will provide required bank facilities to M/s XYZ Pvt. Ltd. and in turn M/s PQR will charge some amount to M/s XYZ (the amount they would have paid to Bank if Bank would have given facility). 

Now, this will be Expense under books of M/s XYZ.. Whether on this expense TDS is to be deducted? 

My total sales turnover is Rs25 lakhs. AM I liable to Tax audit. There is no cash receipt and cash payment during the year. Please advise urgently. My Gross profit is 1.25%.

Hi

I have query, proprietor has two GST registrations one in Delhi another one in Bangalore on one PAN. Now proprietor import goods in Delhi from outside India on Delhi GST registration. Half of the goods sent Bangalore for sale, now can IGST import be used for set-off against the output liability of Bangalore's sales.

dear experts,

i have a quary regarding TDS deduction we have raise a commission bill to company date 04 april 2021 but company has deduct TDS in march 2021 we have not shown this bill in march gst return or not booked as our income in march can you pls guide me what should i do


thank you

what is the defination of contribution in case of llp? audit is applicable if its contribution exceeds 25 lacs, then whether i need to do summation of fixed as well as current capital contribution to check applicability of audit as per llp act?

1. Will gift given by father to son's HUF in which all members come within definition of "relatives" be exempt in hands of HUF, as it amounts to gift to group of relatives?
2. Will gift by Karta to his HUF be exempt income in hands of HUF?
3.Will gift by HUF to Karta or its members be exempt in hands of recipient?

Respected sirs,
What were the depreciation rates for the Ay 20-21 on the below given fixed assets:

Computers
Furniture & Fixture
Electrical Fitting
Vehicle ( Activa Bike )
Motor Car (Crysta Toyta Car)
Motor Lorry
Office Equipment
Plant & Machinery