Hi,
We have deposited the TDS of Rs. 30,00,000/- under section "195" for the AY 2023-24, but TDS could be adjusted only 15,00,000/- against this challan. Now here is the query that, can this excess balance of Rs. 15 lakh be claimed with other sections' TDS liability, like section 192-B, 194J etc. in current AY 2024-25? Please clarify.

Mr. A having GST Registration in UP and got road repairs contract in MP from XYZ Pvt Ltd having registration in MP. Mr. A ask Mr. P who is registered in MP to supply labour services for the said work. Place of supply for MR. P would be as per section

12(1) - general rule - location of receipient i.e. UP

or

12(3) - place where immovable property situated i.e. MP

Location of Supplier (Mr.P) is MP.

If place of supply becomes UP then Mr.P will charge IGST. Credit will be available to Mr.A

If place of supply becomes MP then Mr. P will charge CGST + MPGST. Credit will not be available to Mr.A as it will fall under restricted credit due place of supply provision.

Dear All,
Our client has received notice for FY 2017-18 under section 272A of income tax act and demanding a penalty, client was not aware of all taxes and have not replied to any notices earlier issued, so got this penalty U/S 272A, he is not having any taxable income chargeable to tax for FY 2017-18.
How to reply to this notice without paying any penalty U/s 272A. ?

As NRE fixed deposits opened by NRIs are tax free in India as per provisions of DTAA,
are the banks are to report these deposits in SFT submitted to income tax authorities ?
If they are reported in SFT, automatically they get reflected in AIS/TIS.
The department can not distinguish whether they are NRE deposits of tax free or normal fixed deposits ( taxable in India)
NRIS get notice that they did not file income tax returns in India as per AIS/TIS statements.
Is it not necessary to give instructions to Banks that they should not report time deposits of NRE opened by NRIs or to report them separately in a suitable format
as TAX exempt category deposits to avoid unnecessary litigation and harassment caused to NRIs
I request CA CLUB to represent to CBDT/Income tax authorities.

Dear sir/Madam,

I need help of your, I have to handle and mange account Account payable and Receivable of Accounting in excel format for weekly reprot.

would you help to provide best format in excel for handle expenses and income day to day

A CIVIL CONTRACTOR ENGAGED IN THE BUSINESS OF CIVIL CONSTRUCTION, ROAD LAYING FOR STATE GOVERNMENT AND TOTAL TURNOVER DURING FY 2022-2023 Rs. 7500000 and all amounts are received by cheque or rtgs. I want to know whether 44AD applicable to civil construction business. If so we can adopt 6% of turnover (instead of 8%) because amount received fully in cheque & RTGS

One of my clients wants to execute a JV agreement with an individual, In which the individual shares his land, and my client, wants to develop a residential building on the said land. The share of the unit/s given to the landowner on the building will be purchased by the developer (i.e. my client ) after construction. some amounts paid by Cheques by my client to the landowner which are treated as an advance against consideration money of said unit to be constructed shortly. Is this type of agreement considered a specified agreement under sec 45(5A) and TDS U/s 194IC to be deductible on such paid amount? or as a normal sale agreement TDS will be deductible u/s 194IA?

what is under inventories on 31st March
Bought out goods and stock in transit

Hello,

I have a heard there is another DSC authority named Capricorn, which is the best E-mudhra OR Capricorn.

What is the difference in these both?

AY FY RETURN FILED UNDER SEC CARRY FORWARD LOSS
2017-18 2016-17 139(1) - On or before due date 7,115
2018-19 2017-18 139(1) - On or before due date 9,81,818
2019-20 2018-19 139(1) - On or before due date 5,36,114
2020-21 2019-20 139(4) -Belated 5,379
2021-22 2020-21 139(4) -Belated 3,276
2022-23 2021-22 139(1) - On or before due date -
Above is the situation of a company. My question is can the company carry forward loss for AY 17-18, 18-19 & 19-20 as the returns were filed before due date?