Company has incurred below pre-operative expenses which is lying in respective CWIP recently so after commercial production start how it should be treated in books of accounts as per IND AS for capitalisation and in how many years it should be amortised/depreciated.

A) Trial Run Expenses
B) Travelling & Hotel Expenses of professional/Technical Consultant For Production
C) Technical consulting Expenses for Machinery
D) Training Expenses for Mass production
E) ECB Interest capitalization
F) Pre-Operative Salary
G) Consumable items purchase for Machinery Production

hello, in my proprietorship services business I have few employees. Do I need to deduct or do anything like PF, etc. apart from paying salary to them every month?

salaries are like:
employee 1 - rs. 450,000 / year
employee 2 - rs. 120,000 / year
employee 3 - rs. 120,000 / year
employee 4 - rs. 250,000 / year

next month I will be hiring two more people:
employee 5 - rs. 750,000 / year
employee 6 - rs 1,250,000 / year

so I just pay them monthly that's it. what I should be doing? I understand for employee 5 & 6 I will have to deduct TDS but anything else?

am I doing everything correctly? Please suggest. thanks

Hello,

Can anyone please provide the format for 'Self-attested scanned copy of Authorised Letter ' in ICEGATE registration documentation same as IEC certificate?

Thank you.

hello, I am proprietor of a GST registered services business. 3 years back one CA while registering for GST had put his own Mobile & Email address. Since then I am unable to edit those details. What to do?

From that time I'm using my relative as authorised signatory, but I don't what to do that anymore.

I am an Nri.
I gave a loan to my father in INR through bank transfer which he imvested in share trading. He will be paying interest at 14 % to me by bank transfer.
Is an agreement needed for this loan for income tax purposes?
If so is agreement in paper enough?
Should it be registered?

Dear Sir/Madam,

we are participating in exhibition to promote our product in Chennai, where as we are registered in GST at Telangana State, can we claim ITC for Hotel, Exhibition Stall Charges, Fabrication work done for Stall in Exhibition.

Kindly Guide.

Thanks in Advance.

Regards
Mohith

In case QRMP how to make payment for RCM on inward liable to specified reverse charge?

1) A Unregistered Partnership Firm Formed between 5 Partners in FY 2009-10 for a Specific Project for development of Open Land into Residential Apartment.

2) Firm carries out Development Work on Land (i.e. Specific Project) From FY 2012-13.

3) Every FY ITR is filed P&L, Balance Sheet is prepared. Out of 5 only Two Partners have signed such Balance Sheet.

4) Partnership Deed has a clause of Interest to be paid to Partner's who brings additional capital other than fixed Capital (i.e.Rs.10,000/-) at 12% or lower as may be mutually decided between the partners depending on the Financial Situation of the Firm, Small Profits or Loss.

5) During the Development Work from FY 2012-13 up to FY 2016-17 No Major Profit has been achieved by the Firm.

6) In FY 2018-19 Project Stands Completed One Partner post completion of Project issues Dissolution Notice to other 4 Partners.

7) In Same FY 2018-19 Tax Planning is done through appointed CA and without capitalizing Interest on Partners Capital, Firm Pays Tax on Maximum Profit Achieved as per the Ready Reckoner Rate of Unsold Inventories. Now, Post filing of ITR and Sharing of Audited Balance Sheet and P&L A/c (3 Partners) raise dispute on capitalizing Interest on Partners Capital from Period (FY 2009-10 To FY 2018-19) at the time of Settling of Accounts between partners as Per Dissolution (u/s 48 Partnership Act).

8) Can as per LAW and Income Tax Act, the Partners can claim Interest from Firm for such Period, will arbitrator allow capitalizing such Interest on Partner's Capital if the Partner's take it to the court for arbitration?

Our client had purchased shares. His shares are in demat. He doesn't have any information relating to date of purchase & purchase price. He only knows number of shares he is holding of a particular company. Query is how to calculate capital gains on this? Kindly guide.

Sir, my client is into the business of perishable goods, further, my client was sanctioned insurance of Rs.8,00,000 by the insurance company on account goods damaged due to rain water entering the godown. Furthermore, the sanctioned amount was given on quality deterioration of goods (i.e quality of goods reduce from Rs.100 to Rs.80) and not on account of destruction of goods.
My question is whether I have to reverse the ITC availed on the Rs.8,00,000/