Thanks for your reply sir.. please consider below example once and confirm whether my understanding is correct or not.

For example Mr. X earns salary Rs.50,000/- per month from january 2022 to september 2023 and later on increased to Rs.60,000/- and tax payable for fy.2022-23 is Rs. 23,400/- on 6 lakh salary (1,950 p.m) and for fy.23-24 is Rs. 35,880/- on 6,60,000 salary (2,990 p.m) (tax computation done as per old scheme).

As per above provisions of sec.192 TDS of march 2023 salary paid in april 2023 and March-2024 salary paid in april 2024 and accordingly TDS need to pay in 7th may. Based on above Salary particulars as per 26AS for the FY.2023-24 is Rs. 6,50,000/- ((50000*7-including march 2023)+(60000*5- EXCLUSING MARCH-2024 SALARY)) and TDs amount is Rs.34,840 (1950+32890) but as per sec.15 the salary amount to be reported in IT return is Rs.6,60,000/- and TDS amount should be actually 35,880/-...

The above difference exist in form 26AS and IT return based on provisions of sec.192 and sec.15..

Is my understanding on above sections is correct sir

I have Fly ash Bricks Manufacturing unit where the Fly ash content is more than 90%, what is the Rate of GST and can i claim ITC ?? Please Suggest.

R/sir
Under mentioned notice uploaded at GST portal. Reply of this notice is offline or online mandatory because the accounts books to be uploaded is not possible due to more data.
1) You have filed late returns thus making yourself liable to penalty and interest as per the provisions of the Act.
2) You have filed GSTR-4 (Annual Return) for the above-mentioned tax period, but you have not filed details of 4A, 4B and 4C in GSTR-4, give details.
3) Provide Trading Account, Profit & Loss A/c and Balance sheet from 01-04-2020 to 31-03-2021.
4) Provide Cash Book, Sale and Purchase ledger from 01-04-2020 to 31-03-2021.
In this regard, you are hereby directed to file an explanation on or before 11-11-2024 with relevant record maintained under Rule 56(1), (3), (12), (13) & (14) of Punjab GST Act, 2017 along with any document(s) or evidence(s) you wish to produce.
If no explanation is received by the aforesaid date, it will be presumed that you have nothing to say in the matter and your case will be decided as per the Act ibid without making any further reference to you in this regard.

It is common practice that FMCG operates scheme/discount on products through its distributors to retailers. This discount is given by making deduction from the amount of product and then after GST is charged in the bill . These discounts are not declared at the time of supply nor is subject to a particular supply, supplier does not reverse it's tax liability for this discount and issue distributors a credit note for the amount passed to retailers through distributors invoice. Distributors debit this amount to supplier and show it at credit of p&l Ac. Is the distributor liable to pay GST on this credit notes. If yes ,under which section and with what rate

I want to know whether late filing fee on tds 24q statement is eligible for considering in the amnesty scheme. If yes , how to file the application.

If an individual files a return with RNOR status, is he required to file Schedule FA and declare foreign assets? Also, is he required to declare foreign income?

My husband had nominated me in his PPF Account in the year 1998. After his death when I went for it's claim, I was told that the nominee name is feeded as (,anisha) whereas my name is Manisha. The address details feeded were correct and are same as that on my adhaar. What can I do to claim the amount?

Thanks for your reply sir.. please consider below example once and confirm whether my understanding is correct or not.

For example Mr. X earns salary Rs.50,000/- per month from january 2022 to september 2023 and later on increased to Rs.60,000/- and tax payable for fy.2022-23 is Rs. 23,400/- on 6 lakh salary (1,950 p.m) and for fy.23-24 is Rs. 35,880/- on 6,60,000 salary (2,990 p.m) (tax computation done as per old scheme).

As per above provisions of sec.192 TDS of march 2023 salary paid in april 2023 and March-2024 salary paid in april 2024 and accordingly TDS need to pay in 7th may. Based on above Salary particulars as per 26AS for the FY.2023-24 is Rs. 6,50,000/- ((50000*7-including march 2023)+(60000*5- EXCLUSING MARCH-2024 SALARY)) and TDs amount is Rs.34,840 (1950+32890) but as per sec.15 the salary amount to be reported in IT return is Rs.6,60,000/- and TDS amount should be actually 35,880/-...

The above difference exist in form 26AS and IT return based on provisions of sec.192 and sec.15..

Is my understanding on above sections is correct sir.

PROJECT REPORT FOR COMMERCIAL VEHICLE LOAN

whether cash back received to be adjusted with with drawing in the case of expenses for personal purposed.