Case law : ABC company has an amount of 2 crs in the name of mutual funds in its balance sheet . the company transferred this amount by cheque to xyz trust which is unregistered as a corpus donation .
Query is : 1. whether corpus donation of the trust be exempt or taxable in its hands. and if yes which head ?
2. reasons for the same .
3. Trust shall file its return in itr form no . ?
Please reply asap .

I am a newly qualified CA.

Me and Other 2 Friends thinking over to start partnership firm all at different places/states.
Karnataka
Maharashtra
Goa

2 of us Recently Registered as Member of ICAI
1 of us is having a membership & proprietorship firm since 2016.

We will be having our own practice in our places, making Partnership just to Gain more work(Like Bank Audits, PSU Audits, Tenders etc)

Will making Partnership Firm give us Edge over Grabbing Work? Also What more we gain when we do Partnership over Proprietorship?

Dear Experts,

Can we avail ITC on Gift (Blanket) to be given to employees on diwali?

Value is below 50 K.

Please advise

Rakesh Sharma

I have recently enrolled as member of ICAI and I have COP as well. Further, when I am trying to register on Income tax e-filing site under user type as Chartered Accountant, it says that the membership number doesn't exist.I have already updated by PAN on ICAI self-service portal. On calling Income Tax personnel they told me to contact ICAI. Further, ICAI personnel is not reachable.

Please help!!

Where to show itc available of gst in 31 st march ?

Dear Sir/Madam,

Is there any sample format for issuing statement of salary & allowances and taxes deducted if any to an employee who left in the middle of a Financial Year as Form 16 will be available only after Annexure-II is filed after end of the FY. The employee needed it to submit it to his next employer. Thanks in advance.

If Matured RD (Recurring Deposit) and amount transfer in saving account, how to pass entry in tally, and in which ledger head and under group

But the online traces system does not give option of section 195 which is proper in case of NRI, they are giving option of sections 192 to 194. Please help what to do?

Sir/Madam,
Bought a Car Battery can I treat Battery as my Fixed Asset

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