A four wheeler vehicle is registered in the name of Pvt. Ltd. Company 'X' and depreciation is claimed every year.

Due to some reasons the above vehicle underwent for repairs and maintenance and the invoice amount was Rs. 2.73 lacs and this invoice amount was paid through Bank transaction by another Pvt. Ltd. Company 'Y' due to shortage of funds in Pvt. Ltd. Company 'X' .

One of the Directors in both the Companies is the same person.

How to pass the entries in books of account for the above payment of Rs. 2.73 lacs in both the Companies .

Any implication as per Income Tax Act and in reporting.
Plz clarify.

In my family we are 3 member ..can we run multiple unregister propritorship firm at same business place with proper billing and stock maintaince in each firm turnover is less than 40 lakh..

my main question is any proble arrive when gst official visit our busibess place??

Sir,

How to calculate income tax on salary for an employee having inoperative PAN.

His gross salary for the year 2024-25 is Rs.532290/- before any standard deduction. (New regime).

Kindly give the workings.

Thanks.

In my family we are 3 member ..can we run multiple unregister propritorship firm at same business place with proper billing and stock maintaince in each firm turnover is less than 40 lakh..

my main question is any proble arrive when gst official visit our busibess place??

Dear Experts,

Kindly share your views on the below described issue with notification/circular/case study:

Company having all his business and registration in West Bengal owns a residential property at Odisha.
The mentioned property rented out to a registered company of Odisha as residential property used for residential purpose only.

What will be the applicability of GST in the above mentioned scenario? Will it be IGST (RCM) or CGST-SGST(RCM) in the hands of Owner as well as Tenant?

Thanking you in advance for your suggestion.

IF WE NOT CHARGED DEPRECIATION ON FIXED ASSETS HENCE, WE CONSIDERED IN 0% BLOCK. IF SAME ASSET HAS BEEN SOLD THEN THERE IS CAPITAL GAIN ON SALE OF FIXED ASSET?

Pensioner Female Assessee is Divorcee and widow. Do not have any legal heir except her child who is 62 years old is expired. Now her child is the only legal heir for her income earned and Investments made. Her child was patient of Schizophrenia. He is unmarried. Under treatment for this mental illness since last 40 years.
1. How the return will be filed for deceased mother for current financial year. Who will be her singing authority when her legal heir is mentally retarded?
2. How the return of income for son be filed for future year if no expressly written guardian is present.
What course of action needs to be taken for income earned in future. Thank You

Why would buyer insist on paying in white for land purchase?

AS WE MAKE PURCHASES.....& ACHIEVED TAGET OF PURCHASES

PARTY HAS ISUUED......DISCOUNT A/C...CREDIT NOTE ..SAY 5 LAC...QUARTERLY>>>>WITHOUT CHARGING GST

GST OFFICER SAYS....YOU HAVE TO PAY.....GST ON DISCOUNT.....OR...YOU HAVE TO PROPOTIONATELY ....ITC TO REVERSED.....



WHAT IS WORKING FORMULA.......TO PAY GST ON.....NON-GST FINANCIAL TRANSACTIONS OF RS.20 LAC FOR FULL YEAR....FY-2020-21

The company is engaged in civil contract works and pays royalty to Gravel Crushers. Should it deduct TDS @10% on royalty payments. Pl advise.