My turnover for FY 2019-20 is Rs. 85,00,000/- and profit is below 6% of turnover, whether tax audit is applicable ??

Can a transport contractor (He is not owner of any vehicle, he use to take vehicle on hire for his contract business) declare profit u/s 44AD ?

What should be the accounting treatment of Stamp Duty on purchase of Mutual Fund both in Corporate A/c and Individual A/c. Please Advise

Dear Sir,

I have a rented commercial apartment in which I am the first holder and my mother is the second holder.

We have divided the rental income equally between both of us but all the installation payments for purchase of the property were made by my mother's bank account.

Is it necessary for me to show the property in my books of accounts as all the payments were made by my mother on my behalf and at present the entire value of the property is reflected in my mother's books of accounts.

We file our income tax returns under individual capacity U/s 44AD.

Please help me regarding this matter.

Regards,
Divyesh Jain

Dear experts,
We are registered as regular dealer in gst. One of our party are composition dealer in punjab. we received goods return from the party last week having amt. above 1 lac. but party only give us Bill of supply and not generate any eway bill against this and also not inform to us about the matter.
so my query is that how should we treat this now.

Dear Sir,
We have made the investment in Mutual fund (debt) of Rs. 100000 In FY 2019-20

Is this investment taxable....

Thanks
Nikhil

WHAT IS API? WHETHER EACH AND EVERY INVOICE JSON FILE TO BE UPLOADED ON PORTAL?

Sir/Mam,
We availed ITC amounting to Rs 200000 attributable to FY 2017-18 in Sep 2019 and totally we availed ITC amounting to Rs 2000000( Rs 1800000(cy)+Rs 200000(py)) during the FY 2018-2019. Where should i disclose the same in GSTR 9?.
Table 8C of GSTR 9 was modified and it states that --ITC on inward supplies (other than imports and inward supplies liable to reverse charge but includes services received from SEZs) received during the financial year but availed in the next financial year upto specified period.
Whether should i fill the entire ITC (Rs 2000000) in 6 B of GSTR 9 and report the ITC of py = Rs 200000 in Table 13 of GSTR 9?

Please Clarify my doubt

A Pvt Ltd Company has issued Redeemable Debentures during the year

Whether this transaction is required to be reported under clause 31 (* Particulars of each loan or deposit in an amount exceeding the limit specified in section 269SS taken or accepted during the previous year ) of form 3CD ?

Kindly reply

A partnership firm different unsecured loans received value Rs:20 lacs outstanding opening balance as per books.this total unsecured loans value rs:20 lacs transferred from a partnership firm to one of partner capital account.
Question:
How to passed accounting entries in a partnership firm and partner individual account.