Sir,
It assessess all receipts and payments transactions through on bank online mode at the end of finical year all transactions after bank account closing balance rs:7 lacs
Question:
Assessess tax pay on bank account closing balance.

Hello Friends,
Can you pls clarify on below questions.
1. Is there a limit on amount I can barrow from friend/Relative? Can I barrow like 1-3crs from their declared income(tax already paid)
2. Do I have to pay them interest at minimal rate if I have to keep the amount from more than year or two.
3. Do we have to sign agreement for documentation purpose if the loan is for long term to furnish to IT dept if demands as I will be declaring the loan during IT filing.

Thanks,

We have made gst purchase on credit from a party. Now the party is asking to make payment in other firms name which is not gst registered. Can we make payment in other firms name? Will there be any problem in claiming ITC IN future? Please clarify?

Sir,
It returns non filed person f.y.19-20 and f.y.20-21 it returns filed for the purpose
of bank loan
Question:
Assessess two years it returns filed allowed.

An Individual Assessee sells a residential property in 2020 and purchases a new residential property in the same year, thereby, claiming benefit u/s 54.

Now he sells the new residential property after 2 years but within 3 years, and plans to invest the entire proceeds in new residential property.

What will be tax implications ans whether exemption can be again claimed u/s 54?

is giving advance for some product like that we give for purchase of car as the product will be received after months and are we actually losing a potential income from that advance money

Read more at: https://www.caclubindia.com/experts/is-giving-advance-for-something-a-loss-2889319.asp

We have Deducted TDS (ADVANCE) from One Party Rs. 5000.00 (u/s 94J) , Dt. 23/11/22 now party submitted his bill Rs .50000.00 Dated 20/01/2023

Our Question is
1) Can We show this Transaction 26Q Return in Q3,2022
2) If Yes then which date mention in Date of Payment/Credit ,Date of Deduction in 26Q Return

What is the limit for Tax Invoice in Cash ?

Dear Sir,

FILING TDS RETURN AND GOT ERROR "T-FV-4301 Invalid value under field 'section/collection code'." WHAT TO DO?

THANKS

Sir, one of my client (GST Registered) has purchased a Road Roller for Rs. 15.00 lac and had given it to third party (Unregistered) on monthly rent basis. What Rate of GST is payable by me client ? Whether my client can avail ITC paid on purchase of above road roller ?