Sir,
Sec 194jb transaction date 31-12-22 date of booking 13-02-23 amount credited rs:12,46,696/- tds deducted rs:124670/-
Question:
Assessess accounting entry record date transaction date or date of booking is correct procedure
Does AIF require to register undef GST?
As cat 1 AIFs are pass through and being final consumer of services, is it fine to not to registered under GST.
Request you to pls share supporting clause or notification to your answer
Thanks in advance!!
When Customer pays advance for procurement of Raw materials, the amount hits the company account and Purchase order is released by COmpany to vendor and the material is consumed equally in all months over period of 10 months. Whether the material to be accounted with value when received inside company. When the sale is done the material value is to be added to Sales and 10% of material advance to be adjusted in bill amount ? In this case is it essential to account the material with value upon receipt of same from vendor ?
For 2nd option, if Customer buys the materials and consigns the materials from vendor location, what should be accounting and billing practice.
In both options if the material to be valued in inventory and price adjustment to be done while invoicing ?
For 1st Option. can the customer advance ledger, Cash account and revenue account alone can be made use of without adjusting the inventory account ?
Which method is normal and correct ?
my dealer died in 2018. he received audit notice before 30 days of his death. the assessing officer passed audit order in dec-2021. is the order is sustainable. is any case laws or G.Os to over come this problem
Mr X filed the original return under section 139(1) on 31st July 2022.
He filed the revised return under section 139(5) on 29th December 2022.
He wants to file the updated return under section 139(8A) in March 2023.
Query - In the updated return (ITR – U) in the column (A7)-
Enter the 'Acknowledgement Number' and 'Date of filing' of the Original Return filed.
Which 'Acknowledgement Number' and 'Date of filing' needs to be filed ?
1) 'Acknowledgement Number' and 'Date of filing' of the original return (i.e., Of 31st July 2022)
Example 'Acknowledgement Number' – ABCD
Date of filing - 31st July 2022
2) 'Acknowledgement Number' and 'Date of filing' of the revised return under section 139(5) (i.e., of 29th December 2022).
Example 'Acknowledgement Number' – WXYZ
Date of filing - 29th December 2022
Is there any relief in TDS rates on NRI payment, as based on DTAA agreement.
we have agency partner for uae continuum media then while making payment what will be the tds deduction rate ?and under which section ?
HOW TO ADD MORE THAN 5 COMMODITIES ON GST PORTAL. AS IT ALLOWS ONLY 5.
The assessee has opted 115BAC last year. But an error as shown "opting for New Tax Regime is not allowed for assesses filing ITR u/s 139(8A) for first time as the due date of opting same is lapsed" is coming while trying to upload the updated return. Please help me on this.
I am a major shareholder of a company, 33%, The management of the company have transferred money, raw material, to their sister concerns. The company had large volume of shares in a bank, The saud bank became ICICI two and a half decades back. The shares grew in volumes again after share split, rights issues and bonus shares,
The management of the company transferred a junk to its principal company, pledged the shares to advance its growth. A residue of few thousand shares was with the company. The company became a defaulter in all angles, bank repayment, sales tax arrears, Pf arrears, workers salary arrears. It was taken by ARCIL and subsequently the Official Liquidator takes control,
Its valuable properties, building and machinery were sold to paay the arrears, Having done, without informing the shareholders the company was dissolved by the liquidator in 2020 August,
To everyone's surprise the shares of IICI remains untouched. The dividend was claimed by the Official Liquidator for 2 years and the remaining remains unclaimed.
As the shareholders have not been intimated and not been taken care off can they stake claim of the shares lying with ICIC?
Is it possible?
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
Tds transaction as per 26as question