One of our client paid rent of RS.25000 per month ( Total rent paid in a year : 300000) by cash mode to single party during year. Here this rent expenditure is disallowed under section 40(a)(3) as he paid rent of 25000 to single party which exceeds the limit of 10000. In addition this rent expenditure also disallowed @ 30% in section 40(a)(1a) as TDS not deducted on rent payment.
So what is the total amount of disallowance.
A) 300000
B) 390000
C) 90000
D) 0
Please give your answer to above question.
Thank you.

M/s. ABC is a Partnership Firm. Mr. A is retired as on 22nd march,2023 from this firm. their capital Balance is amount of Rs. 800000. can retiring partner is settled through cash? If yes, is there any issue relating to cash payment of Rs. 800000 to Mr.A ?

We are registered Goods Transport Agent. We had disclosed Exempted sales as RCM sales during Mar 23. This exempted sales is related to vehicle hiring charges (vehicle hired from a Goods Transport agent by a Goods Transport agent). Can we show the amendment in Aug 23 GSTR 1 by selecting 0% as gst rate for the said transaction?

Thank you,

We are group of few people working in govt/private sector and will retire from our service after 20 years. After our retirement we wants to contribute our skills and expertise towards social development and for the same, we want to form a Society/Trust/Section 8 Company and want to contribute/receive donation from members/other individuals and same will be accumulated for about 20 years to create a fund by investing is some of the mutual fund schemes to start the charity work in the field of education/rural development.

Kindly explain which option will be better which allow us to achieve our objectives.

Sir,
One doubt.
One of my friend doing human recruitment in Cochin . He get an agreement with Dubai for human recuitment to Dubai.
As per agreement Dubai company will give service charge to cochin company .

Fund will get from Dubai. My doubt can this transaction is treated as export service and get GST exemption.
Please advise

Mr X turnover 1.50 Lac (all cash) and NP 4.00 Lac in FY-22-23 doing business

Never opted 44AD earlier

and do not want to opt 44AD current year .

Which clause will be applicable as per clause 8 in Tax audit report

1.Clause 44AB(a)- Total sales exceeding specified limits

2.Clause 44AB(a)proviso-

Thanks In Advance

Hello,ITR for ay 22-23 filed 30.7.22 but not verified. after that revised filed and verified on 27.9.2022 and cpc processed and intimation also issued and after that cpc rectified the intimation u/s 154 and levied 234F late fees and the same paid . Now cpc sent email for verification of original ITR. If ITR verified today it will be deemed itr nenver filed. What will be the consequences if ITR verified by condonation of delay. Can cpc demand late fees twice for one assessment year. Experts opinions are most welcome

Our company encountered some difficulties with internet banking when we had to pay RCM on the last date of filing GSTR3B. Therefore, our GST service provider, who also acts as our consultant, paid the RCM amount on our behalf.
We requested them to issue a Debit Note for reimbursement (without GST charge) for the RCM paid, but they refused. They said that they are a Service Provider and issuing a debit note would attract 18% GST charge.

Is it correct?

Please explain in detail if possible.

Thanks

Transaction of Rs. 10 against CRN xxxxxxxxxxdated 26/08/2023 is awaiting bank confirmation. You cannot initiate another transaction against this CRN for the time being.

Thank you

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I have a showroom for home interiors registered under LLP. Its capital value after depreciation every year is around 50 lakhs. I am closing the showroom, scrapping all the items and most probably will be closing the LLP too.
This 50 lakhs has to be treated as capital loss OR can be writtne off as an expense.