My client is Agent provide services to Bajaj Finance and bajaj finance is paid tax under RCM and issued invoice then where to show my client in GST return 3B and GSTR 1 outward supply

Sir,
One of my friend is a partner in a firm. The Partnership firm was
begun in the FY 2018 - 19 and the turnover for that financial year
is only 2 to 3 lakhs and ended up with loss.
Due to various reasons, his firm could not continue its business and became inactive in the subsequent financial year, i.e 2019 -20. The partners have no idea of continuing the business in future.
As such, can they file ITR for FY 18-19 with a Loss and if so, is it necessary to go for Tax Audit?
Or, can they remain without filing ITR for FY 18-19.
Further, can they file a NIL return for FY 19-20 ?
How to formally close their business for Income tax purpose?

Pls. advice.

In DPT 3 we have to fill up free reserves column, is this free reserve amount should be that of previous year 2019 balance or current year 2020 balance, please tell me.

R S Sai Kumar

I had been sold Rice to registered GST delear for rs.200000.Now he has paid Only rs.195000.Due to Weight loss of Rice.So please guide me for regarding entries of accounting in my books of account.

One nursery garden supplied Mexican Grass for lan development for Rs.42000/-. whether TDS isapplicable in this case? there is no agreement or contract is entered between the vendor and our company. the nursery is belongs an Individual .

Kindly advise the TCS is applicable for the following

1. Sales made to one customer worth of Rs.40 lakhs from April-2020 to 29-09-2020 but receipt from this customer from 01-04-2020 to till date is more than Rs 50 Lakhs.

In the above case from 01-10-2020 invoices shall i Consider for TCS @ 0.075%.

or kindly explain when we have to consider for tcs

FD taken on June 3'rd 2019 matured in June 2020, can it be offered to tax for FY 19-20?

No TDS and interest was withdrawn on maturity.

I am selling my house property to A and B (Husband and Wife). Whether wife can be a Purchaser along with her husband without contributing any amount ( consideration) for purchase of the House Property.
From Legal and Tax angle how it will affect the Seller ?

SIR HOW TO PASS AND SET OFF JURNAL ENTRY OF FIXED DEPOSITE AMOUNT RECEIVED ON MATUIRTY?

SEPPOSE I HAVE AN FD OF RS 100000 FOR 5 YEARS @8%
I SHOW INTEREST ACCURED EVERY YEAR AS MY INCOME
SUPPOSE ON MATURITY I RECEIVED TOTAL AMOUNT 1250000

KINDLY EXPLAIN ACCOUNTING TREATMENT WITH TDS

Dear Sir

We have forgot to claim ITC on one bill of RS.11431/- for the month of March 2020. Please suggest below entry in tally is right or wrong.

ITC yet not availed ( Current Assets) Dr. RS .11431/- (31.03.2020)
Input IGST Cr. Rs.11431/-

Input IGST RS.11431/- DR. ( 12.04.2020 entry in april 2020)
ITC yet not Availed Rs.11431/- Cr.