prepare cost sheet from following data –
Raw material consumed – 15000 ; Direct material – 9000 ; Machine hour – 900 hr. ;
Machine hr. rate – Rs. 5 ; production – 17,000 units ; sales – 16,000 units ; selling
overhead per unit – Rs.4 ; office overhead 20% on work cost ; profit 20% on sales

Mistakenly stated the personal expenditure in Form 3CD as Rs. 35000. However, correct amount disallowed in income tax return which is Rs. 37000. There is no excess gain due to this and difference is only Rs. 2000.
Will there be any consequences while filing the tax return? Will Dept. take any action due to this?

If an entity has taxable turnover below 2 cr for FY2021-22 but it has still filed GSTR-9 voluntarily after the due date, can the late fee be waived in that case? Please also provide reference to any source regarding the same.

Dear Sir/Madam,

Ours is a Bachpan PLay school - it is a franchise School, here Nursery, LKG and UKG classes are taken.

We want to file ITR for F.Y.2022-2023, it has gross receipts of 71 lakhs.
Can we file ITR 7 by claiming Exemption U/S 10(23C)(iiiad) of income tax Act.

We have not taken any 12A registration and other registrations .

And Pls let me know do we hv to file Form 10BB for the above case.

Please any body guide me on this.

Thanks in advance

WE ARE MEMBER OF HOUSING SOCIETY OUR FLATE IS AGROUP OF NON TREADING CORPORTTION WE HAVE PROFIT OF TWO LACS WHICH AMOUNT IS FROM BANK D INTEREST MEMBER FEE AND MEMBER TRANSFER FEE UNIT HAVE PAY INCOME TAX

i am Quarterly return filed GSTR1 and in GSTR1 i am showed supply B2C but i accidentally GSTR3b filed nill . now i want change it how i change this mistake

How to the revise the paid TDS return and cancel he payment made to seller due to property deal was cancelled?

Sir/Madam

Please clarify whether IT is to be deducted from gratuity paid to an employee who has resigned from the services of the company after serving for 11 continuous years.

Dear All Friends, Any one please clarify the RCM is applicable for Factory act running license renewal fees. some of the experts opinion is is "If registration charges are exempted, renewal charges will be also exempted" and "Renewal charges are not independent of original registration fee. These are integrally attached with original registration fee. Renewal is an extension of original registration. Hence we can say that there is no difference between both." If RCM not applicable please provide the Authority of the same.

I had sold shares and mutual funds worth 30 Lakhs 3 years back and the amount was deposited under 54F in CGAS scheme for purchasing the house as mentioned below.

>> Sale value of shares/equities: 30 Lakhs
>> Principal = 22 Lakhs
>> Capital Gain amount = 8 Lakhs
>> Amount deposited in Capital gain account t= 30 Lakhs

I am unable to use the complete amount deposited in capital deposit gain account even after 3 years.
According to me, now I need to pay tax at 10% of 8 Lakhs (Correct me, if I am wrong).
I was trying to declare the above in deemed capital gain section with entries as mentioned below
>> Section under which deduction claimed in that year = 54F
>> Amount utilised out of Capital Gains account = 0
>> Amount not used for new asset or remained unutilized in Capital gains account = 30 Lakhs
For above entries 20% of 30 Lakhs is considered as tax.

What is the correct way to declare the above in ITR so that the tax is 10% of 8 Lakhs.