One of my friend has not filed ITR-4 for business income for Assessment Year 2018-19. Now he want to file ITR-4 for business income. But, there is a late fees/penalty of Rs. 10,000/-. Is it true fact?

My friend's GROSS TOTAL INCOME is before deduction of 80 C etc. is approx Rs. 3,50,00,000. But after deduction of 80 (C) his TOTAL INCOME IS BELOW Rs. 2,50,000/-. Whether he is fined any penalty or late fees or not ?

Please give your expert advice.

This is about single premium ULIP policy where single premium paid in FY 2010-11 is more than 20% of sum assured.
1. Amount received on maturity of ULIP is exempt or taxable ?
2. If taxable, itt is the amout of Total receipts or only Income is taxable?
Thanks

Can any one explain me the procedure for registering the course of Diploma in IFRS with ACCA? What can be the total cost of registering including exam fees? I heard that any material will not be issued by ACCA. Is it to be purchased from approved tutors? who are the approved tutors in chennai? what will be the cost for purchasing from them? Kingly guide me.

PLEASE SUGGEST ME WHETHER SHOWN IN ZERO RATED OR REVERSE CHARGE

Dear Expert

We have used Local Vehicle for Transportation of material to dispatch our material located in Interstate, in this case the Transporter is Un registered and what tax we have to pay IGST or CGST & SGST

Can I claim Input tax credit of February in March? Bill Date is in February.

Dear all

Please advice

We are Indian company and we hereby authorized vendor in foreign as our authorized representative for molding and on our behalf vendor will make the mold as per our requirements and whatever expense incurred during this process, vendor will raise the debit note on us for reimbursement of expenses/ professional charges.
In this regards we would like to inform you that the mold which vendor manufactured will be with them only and whenever we will have requirement they will supply us.
Therefore, in this regard for this type of transaction, we would like to know the process and documentation required foreign remittance ..

Hello

My client is running business as sole proprietor and also getting salary from a partnership firm.
We have opted for Sec44ad presumptive income and filing ITR 3.
Should salary income be included in gross turnover/receipts or shown separately?

Dear Sir

We have issued a cheque to party on today. But it will be clear from bank by Tuesday. Kindly advise how i make the entry in busy.

Thank you

TRANSFER OF BUSINESS FROM MOTHER TO SON (i.e. from Proprietor to Proprietor)

What is the process for transfer of business from mother to son (not reason of death)?
Can son cliam ITC by way of ITC - 02 Form?
Is there any manual procedure to be followed?