Sir
I got a Notice u/s 139(9) of income tax Act 1961,Error Code 332 the letter description "Tax Payer has claimed gross receipt of income under the head "Profit and gain of business more than Rs.1 crore,however he has not filled balance sheet and profit and loss account and has not got the books of account audited. So my Question is that as an individual his turnover cross 1 Crore but profit shown in the return above 8% then there was not required to submit file audited,but Income tax department wants to get audit copy U/S 44AB, is it correct? if there is any other to came out this problem Please help me, and i wants to say that there is option if turn over exceed Rs.1 Corer and he show profit above 8% then it was not required to audited, and from starting of his filing, return file did not required to audited as per turn over limit, So, why Income tax department wants file audited,
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Help me

sir/Mam,

I am filing refund RFD01, kindly help how to caculate adjust total turnover
Example
Export Sales 27
Inter State Sales 30(including tax)

Input Tax 18 Thousand
Less: 5 Thousand Tax adjusted in interstate sales
Total Input Tax 13 available

How to calculate adjusted turnover and how much amount refund to claim explain as per above example

Thanking you

Hi all, my quarry is while filling ADT -1 what is the date of Appointment to be filled in case of Appointment of Auditor due to the casual vacancy arises by resignation of previous auditor and New auditor is appointed by board at the board meeting on 26/10/2019 and approved by the members at the EGM on 29/11/2019 then which date is the date of Appointment ?

And When Form ADT-1 to be filed in the above case either after Board meeting or EGM ?

Hi sir, Query : GST cancellation process

I have Taken GST Registration on 07/09/2019 & till now I Have not Done any monthly Returns and Now i want Cancel my GST Registration.. But there is some around 20000/- Input Available in fy 2019-20 ...What to do sir ???? please Tell me the cancellation process & total Penalty ,Interest , late filing fee & is there any cancellation charges ...??? please do the needful sir Thanks in Advance
Madhu M

Assess joint loan amount rs:30 lacs from bank(15+15).One Assess bank loan repayment rs:30 lacs( own 15 lacs +15 lacs brother)
Question:
Assess joint loan repayment one person paid accounting treatment in books.

Dear sir,

ITR-1( FOR AY 2015-16) was filed online through "income-tax e-filing portal" in may'2016 .I forgot to e-verify that ITR. I missed to send that ITR-V (INCOME TAX RETURN VERIFICATION FORM) to CPC bangalore through INDIAN POST-SPEED POST. In my login, it shows e-verify is pending for AY 2015-16. But in incometax -e-filing portal, there is no option for applying E-VERIFICATION for A.Y.2015-16. What is the consequences? Shall i download acknowledgment for AY2015-16 and send to CPC , this period?

SIR ,
I have GST Turnover of 678,000/- for the FY 2019-2020 of contracts.
But In Form 26 AS, Amount credited is 12,00,000/- u/s 194C

Which one to show as turnover in Income tax return .

in my 26AS, SFT-012 Purchase of Immovable property shown
1. What I need to do? Do I have to file 61A as an individual?
2. Is it required to mention anywhere in ITR-1.
Thx & Rgds

Dear Sir,
i have petrol pump of BPCL and BPCL delever diesel and petrol at our pump (outlate) through transportar, but i purchase a tankar and contract with bpcl for transportation of petrol & diesel .
now I pay GST on purchase on tankar and charge gst on transportation service to bpcl,
can i claim GST input of gst paid on purchase of tankar?
thanks

I am a salaried person ( No business income)
and preparing my accounts on tally from past few years
i know its not compulsory but even though i do so

so i am paying lic premium
but i want to know that whether it should be shown under investment or under capital

what is correct accounting treatment
i want fundamentally correct answer sir and the logic behind it