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EASYOFFICE


S SHAH
03 December 2020 at 12:59

ITR PROCESSING

I received sms from ITDCPC for return has been processed 3 days ago. But still in incometaxefilling login it is not showing. How many days it takes to update?


Vaishnavi

My client, a Govt employee retired from services last year. Upon retirement, she received a lump sum payment from the amt she has been contributing to ‘Employees co-operative Thrift & Credit Society’ since the beginning of her service. Is the compulsory contribution to the fund an eligible item for tax deduction? Also is the interest received taxable?


Pragati Sharma
03 December 2020 at 12:25

Quantitaive details in Form 3CD

An assessee is engaged in F & O trading and Share trading and comed underthe purview if tax audit.

Whether in Clause 35 of Form 3CD, qunatitive details shall be reported of the following as he is in trading business:

a. Delivery based share trading
b. Intraday share trading
c. F & O trading


Bhavana
03 December 2020 at 12:02

Independent Auditors' Report

A private limited company has profit before tax and loss after tax due to MAT credit utilisation. In the opinion paragraph of the Independent Auditors' Report, under the comment about statement of affairs of the company, is it appropriate to write as profit for the year or to write loss for the year ? Kindly justify the answer.


CA Sweta
03 December 2020 at 11:37

APPLICABILITY OF INCOME TAX AUDIT

IN CASE OF PRIVATE LIMITED COMPANY IF TURNOVER IS LESS THAN RS.1 CRORE IS IT REQUIRED TO GET AUDITED IN INCOME TAX ACT U/S 44AB AS TAX AUDIT?AND IS LIMIT COMPLIANCE OF NOT MORE THAN 5% OF RECEIPTS AND PAYMENT IN CASH REQUIRED TO BE SEEN FOR GETTING THIS COMPANY AUDITED IN TAX AUDIT IN INCOME TAX ACT?KINDLY GIVE ANSWER AS SOON AS POSSIBLE.


bhavin
03 December 2020 at 11:27

TAX AUDIT

in A.Y 2019-20 Turnover 9400000/- and profit less then 8 % audit is done as per rules in a.y. 2020-21 sale 125000 and business close profit approx. 10000 should i need to do 5 year compulsory audit.


Kollipara Sundaraiah
02 December 2020 at 22:20

Mistake turnover in 19-20 adjustment

A gst registered regular scheme dealer sales of taxable goods (12%tax rate goods) business.dealer mistake sales of taxable turnover treatment exempted turnover show in gst monthly returns in f.y.19-20.
Question:
Dealer how to amended producer sales of taxable turnover and tax pay in f.y.19-20 show in 2020-2021 gst returns allowed in gst act.


M S REDDY
02 December 2020 at 21:28

ITR 4

Dear Sir,

One of the Client submitted his ITR 4 FY 2019 - 2020 (A.Y 2020 - 2021) - He Selected - U/S 139(4) Belted by mistake in place of U/S 139(1) on or before due date, in his case anything wrong ,

this is right or need to file revised return , please clarify


VIKAS KUMAR SHARMA
02 December 2020 at 19:49

Gstp person can file his income US 44ADA

a gstp(goods and service tax practitioner) can opte Section 44ADA for filling his annual income tax return?
even filling gst returns of his parties(own their own behalf) not mentioning gstp id for any one.
regards
vikas


Bhavesh
02 December 2020 at 17:30

Credit note for rent FY 19-20

excess rent claimed by landlord in form GSTR-1 Q4

how to rectify mistake, can landlord issue credit note now ?
what is due date to issue credit note for FY 2019-2020?