I have credit of (current ITC and Ledger + cash credit) as given below:

IGST - 4500
CGST - 900
SGST - 5800

I have to pay tax liability, say as given below:
IGST - 10000
CGST - 1500
SGST - 1500

So as per new set off rule,
IGST liability of 10000, to be set off using ITC of 4500 of IGST+900 of CGST+4600 of SGST

Then my credit will be only for SGST - Rs. 1200

So I need to pay tax as CGST - Rs. 1500, SGST as Rs. 300 (1500-1200).

I will be greatful if you can guide as to this understanding is correct.

Regards,

Dear Sir,
The return is filed with no books of accounts case, in ITR 3, as per profit/ gross total income books of accounts are applicable, but assesse has not maintained books of accounts, in such case I am revising returns with books of accounts,
may in future in any notice income tax department ask for books of accounts?

I applied for a company incorporation in in which a minor error occurred in registered address. My village name is "Ujirhati" but unfortunately wrongly I entered "Urirhati".
Will there any serious problem due to this?

Dear Team,

I am practicing CA & need to certify MCA form.(CSR-1). What should we put in form at the place mentioned as Certificate of practice number?

I have also registered my DSC on MCA website as practicing professional but while pre scrutiny of form , error occurs as details of practicing professional not valid. Kindly enter valid membership number/ certificate of practice number.

Please help.

Hi Sir / Ma'am,

Today is the last day for return of TCS. But our office is closed and we can not access the software from home. Has government extended the date yet ? Else what we are supposed to do ?

Regards / Vijay

1. In continuation to the query and reply given by Shri B Chakrapani Warrier on the above issue, I would like to ask whether ADT1 is to be filed first time when appointed by Board of Directors, and then again when regular appointed for 5 years by EGM/AGM.

2. If resigned due to change in constitution after 3 year out of 5 years appointment in proprietorship, then for how many years the firm will be appointed in EGM whether for 2 years or 5 years. As per provision auditors has to be appointed for 5 years, means not less than this.
Please give your advice.
Thanks

I have joined a MNC, they have clubbed the gratuity into my CTC part. and had indicated growth benefit for joining the company
1)As I am ending 4 years citing Pandemic and Degrowth in business, OH reduction , gave me a marching order ,in May 2021, And Claims Gratuity is after 5 years and not permissible in this case
Is There any law which can support me to claim back gratuity?

Deepak

As per section 11, even capital expenditure will be allowed as application of income and fulfills condition of 85% utilization/application of income.

My query is:
1. If capital expenditure is allowed as application of income then whether we need to show this in income & expenditure account (Expenditure side) or in balance sheet (fixed assets)?
2. If shown in balance sheet then income expenditure account will show huge surplus and then how we will show that 85% condition has been met.

Hi,
A Housing loan is taken by Husband and wife jointly and both are co-owner in the property. In this case if wife wants to claim full interest and principal amount then is it possible. Wheather employer need to take any declaration from employees in this regard.
Please answer my problem.
Thanks & Regards
Rajesh Sharma

Dear Sir,

Please help me to understand NPS Contribution from Employer.

1. If One employer need to contribute NPS to their employees, what needs to be done for this ?
2. How to decide contribution amount ? Is there any limit ?
3. If one employee CTC is 5 Lakh, then Contribution amount is taken from 5 Lakh ? or Company contribute ?
4. Same will be reflect in Payslip ? I mean , this will show any component like NPS (Both earning and deduction side)
5. Tax Eligibility

Please help me to understand steps by steps.

Regards
Ratheesh