We as an Pvt Ltd Company.
Initially our Insurance Broker have paid to Insurance Company Premium.
Then after Insurance broker is claiming from us and we pay to Insurance Company.
In this case we are not paying directly to Insurance Company. We are received invoice from insurance company.

Please Suggest Correct Account Entry 1 or 2 below
as per Income Tax and Company Law:
________________________________
1.

(A) Insurance Exp Dr
To Insurance Company A/c Cr

(B) Insurance Broker A/c DR
To Bank A/c Cr

(C) Insurance Company A/c Dr
To Insurance Broker A/c Cr
__________________________
2.

(A) Insurance Exp Dr
To Insurance Company A/c Cr

(B) Insurance Company A/c Dr (No Matter payment is process to Insurance Broker)
To Bank A/c Cr

DEAR SIR,

IS THERE SB INTEREST EXEMPTION UNDER NEW TAX REGIME. IF YES HOW MUCH INTEREST CAN BE DEDUTABLE

THANK YOU

REGARDS

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sir,
It assessess trading a jewellery business cash amount rs:10 lacs and jewellery value rs:15 lacs theft f.y.23-24
Question:
Assessess cash and jewellery theft value transactions show procedure in it returns and books.f.y. 23-24.

Hi Sir/Ma’am,

There is some incorrect information in AIS but it’s been 3 days and income tax site throws an error while submitting the feedback in AIS.

What can be done in this case?

Thank you

Hi,
This is to confirm Whether Euro Kids Franchise can File Income Tax Return under Sec.44AD Presumptive Income Scheme?
Brief Business Model is as Follows:
Student Pays the Fees Directly to Euro Kids Say Rs.100,Euro Kids deduct their Royalty and Taxes Say Rs.20 and Remit the Balance Say Rs.80 to the Franchise.
Can the Franchise go for Section 44AD under the Income Tax Act,1961 Presumptive Income Provisions?

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If yes, where/ under which section?
Thanks in anticipation...