Hi Every one
Good day.
My query is , Is it necessary to show intra-state stock transfer(within the state) in GSTR 1?
The company is operating with same GST number and multiple location in the same state.
Please confirm.
Thanks in advance Guys.
My mother's flat is being redeveloped and the builder has incorrectly adjusted a portion of the hardship charges against additional area and shown it in her form 26AS. However, she has not availed any additional area and this may also be an honest mistake. After weeks of follow up with the builder, there has been no resolution on the same. I've raised a grievance with CPC-TDS but can you suggest any other form of recourse to get this corrected?
Purchased asset and transfered xxx amount from our savings acc to sellers acc without deducting 1% TDS.we paid that 1% TDS, let' say 12,000 from our savings acc to IT for TDS.Later seller refunded that 12,000 amount by cash to us.
How we have to record journal entries this entire process in book of accounts.plz reply experts.
Dec 2022: x person decides to join a trust with an aim to join them and make an impact in the society. She starts working for the benefit of fulfilling activities.
Jan 2023: It was agreed she would become trustee after she agreed to pool in 3lkhs for the benefit of running the trusts operations. Mainly an upcoming event.
February 2023: The amount was e-transferred. She pumped in an additional 3 lkhs (total 6lkhs), to address the happenings of the event. Trust agreed to return 3lkhs when any funds were successfully raised at a later point
March 2023: A CA help was taken to draft her inclusion into the trust and legally became a trustee.
August 2023: She decides to demand back 5 lkh with an interest of 7.3% from the trust. ( When the trust has less balance to execute its day to day operations.
Questions:
1) There was no formal writing for this transaction. What are the legalities involved.
2) Can the trustee sue her own trust (or against other trustees) for recovery of the money (that doesn't exist)?
3) What is the impact on other trustees
4) What is the best route out if negotiations fail?
Looking for genuine educated inputs/ advices. Thanks
I wanted to know accounting effect of below transaction.
Employee from my company wants to deduct the amount from his salary and want to contribute this amount to NPS.
How do i show this transaction in my books?
Please advise 🙏
Say tds is deudcted rs. 10000 i.e 1% on rs. 10 lakhs. however income from vda is rs.1000.
what to fill in corresponding receipts offered in tds columns as it is default showing rs. 10 lakhs however income is rs. 1000?
Pls Kindly suggest me & be obilize.
Thanks
Notice u/s 133(6) against purchase of vehicle of Rs. 2822011. but assesses not file return in AY 2021-22. ITO call information about source of Income, Bank account statement where this investment recorded and capital account investment started accumulating.
kindly suggest best for this regards
thanking you
Dear Sir,
There is demand of Rs. 71,584 for the Q2 and Q3 towards non filing of TDS belated returns for the F.Y.2015-2016, but during the year TDS deducted and paid and filed the belated returns of Rs. 25,550 for both the periods ie. Q2 and Q3, Now the question is under supra section whether the demand ie late fee is of Rs. 71,584 or only it would be restricted to Rs. 25,550 to the extent of which there is TDS deducted and paid. Becasue no penalty should not be more than of tax amount.
2. since demand pertained to F.Y. 2015-2016, as the propreitory ship got closed and propreitor also passed away. does the recovery proceedigs will happen
Ours is an insurance company. We pay brokerage to the Insurance brokers. The brokerage is generated on the last day of the month and TDS on the same @ 10% is remitted to the IT dept. before 7th of the next month. However, Invoices for the payment is raised by the Brokers subsequently.
In the specific case, we had already remitted TDS on brokerage for the months of June & July 2023 at the specified rate. However, now brokers have raised their bill for the month of June & July 2023 after obtaining Lower deduction certificate effective from 25th August. 2023 to 31st March 2024 and requested us to adjust the lower deduction rate of 4% against their bill for the months of June & July 2023.
As per our practice TDS becomes payable on accrual or payment whichever is earlier. Accordingly, we had remitted TDS @ 10% for the month of June & July, 2023. As the validity date of the Lower deduction certificate is 25th August 2023 to 31st March 2024 is it possible to adjust the lower deduction rate for the Invoices for the month of June & July 2023 which was raised after issue of Lower deduction certificate.
Please guide.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
Intra stock transfer in GSTR -1