I am running a private library whose turnover likely to cross Rs 20.00 lakh, whether running a private library or reading rooms services is taxable services or not, please also quote HSN.

Thanks in advance.

Please clarify RCM application on director remuneration paid by the company read with notification 13 of 2017

Sir,
I am a partner in a firm and i want to know the valuation of partnership firm through a discounted cash flow method.

Sir,

I want to gift 3lac to my brother , here i want to know where it will effect in Income tax whether in Balance sheet or capital account and under what head.

Please suggest

Hi,

Should accrued liabilities while preparing financials where invoices have not been received yet include GST?

How much cash can be received by a whole seller in a single day against a single invoice?
Further I want to know if payment made for business expenditure of more than 10000 in a single day to a single person, it disallowed to person who made it but who received the payment, what will be the impact in his book?

Is there any minimum rate at which NBFC can lend it to its borrowers?

Sir,

I have a confusion , earlier i was running a single business and filling the IT return, now i have also over take my father business along with that,now i want to know as both the income will merged ,whether i have to prepare two capital account for both business or one for both.

Please suggest.

Dear Sir's,

This case pertains to our Company. Following are the facts.

1. Export Sales Invoice done on 1st March 2020 for US$.225,000.00

2. Let Export given by customs and dated as 20th March 2020.

3. Containers stuffed with the cargo and in Nhavasheva Port.

4. Due to lockdown the Vessel could not dock and now the cargo in inside the Port premises. Once the lockdown in open we will immediately dispatch the goods and the Bill of Lading will be dated as maybe 20th April 2020.

Now my question is:

1. As the Sales has been booked on 1st March 2020 will the sales stand in the accounts books for the Financial Year 2019 - 2020.

2. As the Customs has given Let Export order and in the Customs web site it has been registered as sale in this Financial Year 2019 – 2020.

3. Will the Bill of Lading which will have date a of 20th April 2020 wherein only physical movement will be done have a effect on the sales for the Financial Year 2019 – 2020.

Kindly get a detailed written reply from you Professional Contacts as our CFO is telling us that he will cancel this sale and re-book in the year 2020 – 2021

Awaiting your reply to this mail.

Thanks & best regards,

CARL M. MATHIAS

Dear,

If we do not make provision for March, will it be allowable under Income Tax,