My business is planning to give a car as gift to customer on lucky draw. Car is worth 10-15 lakh. Couls u pls advice on the rax implications.

HAPPY DIWAI TO EVERYONE

Hi All,

Happy Dewali to all!!

I have a query from my friend, please help me to support him.

He is an CPT, IPCC student now registered in CA Finals (new Scheme), he has completed his Articleship, Orientation Program, GMCS-1 and ITT program. Now to appear CA final exams is it required to complete both Advanced ICSTSS - ITT and MCS or either of it ?

Thanks in advance.

What are the differences between Operating Lease and Rent?

Hi I just passed class 12 and I got admission in delhi university, arsd college but I want to pursue cma along with regular college. but I am not sure are there job opportunities available after becoming cma and can cma open their own firm like ca ?

Dear sir,
due to some over sight my hsn summary was not uploaded in gstr-1 for sept and return filed.please advice me any solution,if i upload same with next month their once again mismatch in sale data and hsn summary
with thanks

Dear all,

My query is what type of rice is GST attracted i am bit confused in this, please give a clarity on this and one of my client is selling cleaned quality of rice of 25kg and 50 kg but no brand name on it does it attract GST,

If the same as brand name and attracts GST, what about the stock before the GST Notification still we need to charge GST on that

Please resolve my query

Thanks in advance

Regards
USHA B G

Hi I just passed class 12 and I got admission in delhi university, arsd college but I want to pursue cma along with regular college. but I am not sure are there job opportunities available after becoming cma and can cma open their own firm like ca ?

A partnership firm was constituted with two partners on 16.01.2016and one of them expired of a road accident on 27.11.2016 i.e. before completion of the financial year 2016-17 and therefore the firm stood dissolved automatically. . A notice u/s 148 was issued to the firm and the surviving partner did not respond to such notices as the registered email id was that of the deceased partner. An assessment has been made by the Assessing Officer u/s 144 and later on levied penalties u/s 271(1)(b), 271AAC and 271F.

After the death of a partner, the surviving partner did not inform the Assessing Officer of the dissolution of the firm. Whether he was duty bound to inform the fact of compulsory dissolution, u/s 176(3) within 15 days of such dissolution.

My query is " Can a notice be validly issued u/s 148 to a dissolved partnership firm "

The honourable Delhi High Court in the case of Mrs Sripathi Subbaraya Manohara L/H Late Sripathi Subbaraya Gupta versus PCIT, Delhi in writ petition no. WP(C) 2678/2020 & CM 9286/2020 has held that notice issued in the name of dead person is invalid.

Whether the above decision shall hold good in case of dissolved partnership firm as well. Please guide.

Suppose there are two self-occupied houses and both fulfilled the conditions to get maximum limit of interest on loan as deduction u/s 24(b) for $2,00,000.

Now if the calculated interest on the loan for the first house is ₹1,50,000 and the maximum limit is ₹2,00,000 we will take ₹1,50,000 for the deduction as it's the least of the above mentioned amounts.

Now my question is, in the case of the 2nd house, should I set the maximum limit for interest on the loan as ‘Nil’ or of ₹50,000?