Dear Sir,

Please suggest below journal entry provision for income tax is correct or wrong in a proprietor firm.

Capital account dr. 38000-00
Advance income tax cr. 18000-00
TCS Receivable Cr. 6500-00
Provision for income tax Cr. 13500-00 ( Current liability )

Is there any % of profit transfer to reserve for both dividend paid or not. Pls help

Is there any problem if Form 3CD is accepted by the Assessee without DSC??

I have received one fourth of sale proceeds of ancestral property as my share. I invested a large part of it in infra bonds. Seller has already deposited TDS @10% as per our form 26. How to show it in ITR.

If I purchased an Asset worth Rs.100000/- for our office they charged GST of Rs.4500/- in the bill.

Clarification:-

1. Shall we take input tax credit of this GST paid

2. After taking credit shall we able to claim Depreciaton on this Asset. ? in which amount ? ( including of GST or excluding of GST)
please specify with provision for reference.

Hello ..!
Mr. A was holding security prior to 31/1/2018 .
The FMV as on 31/1/2018 was 305. ( as per bhav copy of NSE).

Then company declared bonus 3: 1 .
Adjusted closing rate in same ratio comes 229.

Now calculating gain which rate to be considered 305 or 229..

Please advise urgently .. return is pending .

we supplied material from Vadodara to SEZ Unit DAHEJ under LUT/BOND Without payment of IGST. Later on we have to charge the freight to SEZ Unit.

How can we raise the Freight Charge to SEZ UNIT.

FOR THAT CAN I RAISE THE DEBIT NOTE TO SEZ UNIT WITHOUT ANY TAX ?

Self retired in Nov'19 from a PSU. Got Rs 5,43 lakh as EL encashment and Rs 11.38 lakh as HPL encashment. Recently I came across a msg from CA I. M. Agrawal that CBDT has addressed the anomaly of exemption limit upto Rs 3 lakh and now the encashments are fully exempt without limit as was already applicable to CG employees..
Pl. guide whether now encashment is fully exempt and also whether it is only EL or EL+HPL?

A partner ship firm unsecured loans name Mr.A Rs:1 lacs and Name Mr.B Rs: 1 lacs outstanding balance as per books 31-03-2020.but a partnership firm Name Mr.A Rs:1 lacs and Name B 1 lacs advance income tax paid through on firm bank account.
question:
a partnership firm how to passed unsecured loans written off account entries in firm books.

Dear experts
Should we do billing if our party's gst number is suspended.