i.e
Purchase on Margin Scheme
Exempted 10000
Taxable 500
Tax @ 18% 90
Total 10590
Sales
Exempted 10590
Taxable 500 (Profit)
Tax @18% 90
Total 11180
its Correct...
Raw material Holding period( In days) is Avg Raw Material/ Ram material Consumption per day.
My query is related to denominator. In case of a rice mill which runs for 225 day in a year, so in denominator while calculating Raw material Consumption per day, whether 225 or 365 will be divided from annual raw material consumption for arriving at Raw Material Consumption Per day.?
Regards
In which coloum the registration details of 80G are to be filled in ITR-7 ?
XYZ Co-op Housing Society
Income:
Collection from Members = 20,00,000
Bank Interest on FD from Co-op Bank = 5,00,000
Misc Income = 1,00,000
Total = 26,00,000
Expenses:
Repairs & Maintenance of Society = 28,50,000
Deficit = 2,50,000
While filing Income Tax Return:
A)
PGBP = 20,00,000-28,50,000 = -8,50,000
IFOS = 5,00,000 + 1,00,000 = 6,00,000
GTI = Nil
Carry forward of loss = 2,50,000
B)
PGBP = -8,50,000
Less : Exempt Loss = 8,50,000 (Concept of Mutuality)
Net PGBP = Nil
IFOS = 5,00,000 + 1,00,000 = 6,00,000
Gross Total Income = 6,00,000
Dedn U/C VIA (80P) = 5,00,000
Total Income = 1,00,000
Which computation is correct A or B ?
Sir i am having Gst No and owner of a truck which is transporting fly ash and sand bricks for customer, my query is at which slab of gst tax to be charged to my customer who are availing my truck service.
Sir,
I have a GST registered client filing GSTR-1 monthly. While filing GSTR -1 for the Month of October -2021, Supply outward made to a GST registered customer wrongly shown as B2C supply outwards. Today customer have approached client regarding the issues as they have got notice from the GST in respect of the unaccounted purchases. How can my client rectify the said mistake. Whether it was possible at the time of filing GSTR-1 for the month of September-2022. Please address the issue.
A private limited company formed in 2018 ,have not commenced business and failed to file the annual returns so far. They want to file the annual returns. What will be the filing fees and late fees for filing the returns approximately.
Can the experts give some details please.
Which websites are good for referring forecast about Rupee Vs Dollar
While calculating allowable remmuneration to partner .. the condition is certain percentage of book priofit and not taxable profit.
Still expenses debited to p& l eg. Interest on tds,donation which is disallowed is to be added back.for calculating book profit for remmuneration to partner
In Financial Year 2021-22 There is the Office Interior Was Done of Rs. 3200000 Approx and My WDV Amount of Office Premises is Negative Then Can i Consider the Office Interior has Office Premises or Not. The Interior is About all Office Furniture Cabins Staircase n all.. Please Suggest Something.....
Live class on PF & ESI Enrollment & Returns Filing(with recording)
Margin scheme