Hello everyone,

I pay salary to some employees under my proprietorship (IT services only business) and get the audit done. But is it required for me to deduct TDS on salary of employees for whom salary is below INR 5,00,000 per financial year?

Looking for your help.

Thanks

A person is rendering both service and goods will limit 40 lacs or 20 lacs apply for registration, any clarification on it

Facts:
1) Tax Payer's (TP) location is X
2) His Client's location is Y
3) Vendor's location is also Y
4) X & Y are at around 10 kms distance from each other
5) In other words, vendor and TP's client are located at same location. They are just 5 buildings away from each other.
6) TP picks up goods worth Rs.1.74 Lakh from his vendor and delivers to his client. It is a hand delivery. No vehicle is used.

Query:
a) Does TP need to generate E Way Bill?
b) If yes, which parts of E Way Bill are mandatory for this case?

In one of our case there is a loss in partnership firm after giving remuneration , and at per deed it is mentioned that "the above partners shall not be entitled to draw any remunertion in the accounting year period in which the partnership firm has sufferred loss on the basis of the book profit as computed under the provisions of the Income tax Act, 1961". Can we give remuneration upto the limit there is no loss in Profit and Loss account or we can not give any remuneration.
I.e Loss is Rs 111623.00
Add Remuneration Rs 144000.00
Book Profit Rs 32377.00

Can we give Remuneration upto Rs 32377/-

Facts:
1) Vendor supplies goods worth more than Rs.1 Lakh (within Maharashtra) invoice value
2) Vendor does not generate E Way Bill (EWB)
3) Vendor issues proper Tax Invoice to buyer
Query:
a) If vendor fails to generate EWB, is buyer liable to generate EWB for goods he has bought?

b) If answer to query "a" above is yes and buyer does not generate EWB, can a buyer avail GST input credit though vendor defaulted in generating EWB?

OR

c) If buyer is not liable to generate EWB because vendor fails to do so, can buyer avail GST input credit though vendor defaulted in generating EWB?

A gst registration composite scheme dealer purchases of old gunnyies from URD persons
Question:
Dealer RCM applicable sec 9(4) in gst act.

As a part of sales promotion, our seller is allowing the discount of 5% on the previous month's invoices and they filed the credit note in the GSTR 1 of this month. We have the following doubts in this regard.
1. Whether we have to issue a debit note for the discount received?
2. Whether we have to include the values of Debit Notes in HSN wise summary report in GSTR 1?
3. If we are showing discounts received on the credit side of the Profit and Loss account, then whether we have to pay any GST on the same?
4. In which head in GSTR 3B we have to include the value of the debit notes?

Dear Sir/Madam
What entry can be passed if Employee contributes to Provident Fund From his salary and also employer contributing pf in that account? ( in the books of EmployEE)
and also suggest which amount can be shown as receivable in the balance sheet( means the total of employee-employer contribution or else only employee contribution?)

For the year 2018 the Closing balance of Fixed assets are not matching with Opening balance of Fixed asset year 2019. Similarly balance in Accumulated depreciation account balance are also not tallying.
What are steps to take to resolve this issue?

Hi, I have purchased flat in nov2019.before that year I was claiming hra exemption fully, but here my question is can I claim hra from April 2019to Oct 2019 before taking home loan on proportionate basis?? Pls reply