Hello Sir,
I have TDS on contract amount deposited for the month of Jan 2020.. after i have checked in Feb month have paid excess due accounted in twice same bill in jan month .. now i have received in Feb month..can adjust TDS excess amount to other suppliers in Feb month which i have deposited earlier.. please advice

Dear Sir/Madam,
I am Ankit working as Accountant in Private Limited Company. We have rate difference in sale invoice and now we are trying to rectify the things given below

Actual Rate - 16.25/- Including GST @ 18%
Invoice Given Rate - 14.58/- Including GST @ 18%
Rate Difference - 1.67/- Including GST @ 18%

As per the above details, the difference rate is of Rs. 1.67/-. Is their any solution to give rate difference invoice or else we should raised Debit Note. If we raise Dr Note then in GST R1 we cant upload the invoice details. So as if now i am totally confused and can you help me for this above reason..

IS TDS APPLICABLE ON PURCHASE OF TDR AMOUNTING TO RS 1CR? AND AT WHAT PERCENT?

Dear Sir,

My question is related to revenue recognition of MEIS SEIS taxation from income tax point of view and accounting standard.

Revenue will be recognize at the time of credit of scrip or sale of scrip ?

ICDS silent about this and AS 9 says export incentive recognise only when there is certainity .

Kindly reply.

Thanks in advance.

My client is registered dealer and had filed VAT return for September 2016 and also revised it u/s 20(4)(a) on 20/06/2017. Thereafter i noticed that i have no taken into consideration interstate purchase made by me of 1 bill on which CST 2% charged. I want to issue Form C to the seller. My Query is -now what is the consequence, can i revise it again [since option to revise u/s 20(4)(a) is not available] or should i pay any amount as penalty?? or wait for any notice? Please reply as soon as possible.

I have Saving Bank Account Interest of Rs.15000. My organisation is adding this amount to my salary to compute TDS on salary and not considering deduction u/s 80TTA. Is it justified?
They are saying that we will deduct tds on this interest and you claim deduction u/s 80TTA in your ITR...

XYZ is manufacturing and supplying moulds exclusively to related party. What should be the basis for valuation for this transaction?

A Pvt company has 2 directors A & B. Director A loaned Rs. 5 lakhs to the company which was used to purchase machinery. The company is not returning the loan to Mr. A.
Can Mr. A sell or take over the machine?

sold an inherited agricultural land for 4500000 and invested 4371240 in residential property u/s 54F.we paid tax on the remaining amount but now we have received notice for proposed adjustment showing "Amount in Income tax Return 128760 and Amount as computed 4500000,Variance of proposed adjustment 4371240" we have double checked the ITR form and found no mistake. please help us resolve the same

In case of one of my New Client, Doctor by Profession, Certain Issues have been observed:
He has Basically 2 Sources of Income:
1. Income from Partnership Hospital(Remuneration, Interest & Profits) from AY 2016-17
2. His Own Practice.

From AY 2016-17 to AY 2019-20, He has never shown any Income from Hospital(Amount is Substantial)
As for AY 2019-20, we have option to Revise Return u/s 139(5)
But for AY 2016-17 to AY 2018-19, there isn't any such option.

The Income Undisclosed for each AY is More than Rs. 15 Lakhs. This was not wilful.
They are now ready to pay Taxes.

What is the Recourse for AY 2016-17 to AY 2018-19? And the Risk Associated with it.