A Private Limited company allotted shares to one director during F.Y. 2014-15 case is under scrutiny at ITO. In that period the FMV of shares was Rs. 60/- per share. But allotment made at Rs. 10/- per share which was unintentional and the difference is a huge amount. The AO has also opened the file of Director with approval from Joint Commissioner and going to taxed it in the hands of director under section 56(2)(vii) of I.T. Act, 1961. Please suggest me is there any way to avoid the tax & penalty in the hands of director, if there is any case law please provide me.

Dear Sir, one of client received notice us 142 (1) for non filing of return, he has also tds refundable in that year for rs 80,000 approx whether after filing return us 142 (1) permit him to receive tds refund????

sir I want to know what is exact turnover limit for GST audit?

Suppose fire occured on 01/07/2014 and indemnity period is 2 months. while calculating GP on annual turnover, From which date to which date will be tha annual turnover ???

Dear sir / madam,

For doing CMA any percentage of marks required...

what the prcess in gst for stock in hand how to return file Gstr 1 and 2

Balance in Input SGST Rs.600/-
Output IGST Payable Rs.400/-
Output CGST Payable Rs.100/-
Output SGST Payable Rs.300/-

How the amount of Input IGST will be utilized for the payment of Output IGST,CGST & SGST

Dear Sirs, my company is doing industrial catering in sez unit companies. previously we charged 2% vat on food and drink sales. Now is they applicable for Gst? Thanks in advance.

I am a importer . i import a shipment in the m/o june 2017. i paid basic duty Rs. 108000. and cvd 12.50% Rs. 125000.00 & addl. duty 4% paid by me Rs. 13500/- if i hold whole quantity as closing stock on dtd. 30.06.2017. then how much i can claim itc on above stock. pls explain in detail. can i claim only 4% addl. duty as itc or claim itc 12.5 % cvd + 4% addl. duty.

Hi everyone,
Can any one tell me what will be the role of internal auditor in real work environment in a listed company.
Thank you