Easy Office
LCI Learning


Simarjeet Kaur
13 September 2022 at 12:49

Income from Franchise Business

Income from Franchise healthcare lab. Is TDS applicable for refund or I have to show as nontaxable income.


Mahen
13 September 2022 at 12:30

Tax on withdrawal of EPF amount

I need clarity on Tax applicable on EPF withdrawal.
I was working with company A from 04-Dec-2014 to 12-Aug-2016 and during this tenor EPF was deposited with Company's EPF Trust.
Due to personal issues I was not working for 4 months i.e.. from 13-Aug-2016 to 04-Jan-2017. Later I joined Company B on 5-Jan-2017 and with Company B the EPF was deposited under UAN a/c. So from Jan-2017 onwards I am in continuous service.

Finally Company-A pushed me to withdrawn EPF amount and after completing the formalities received credits of Rs.Rs.203000/- on 12th May-2021 i.e. 4.9yrs after service exit with Company-A. At the time of withdrawal Form15 was submitted hence there no deduction done by Company-A however same is present in my Form 26AS under head - PART A1 - Details of Tax Deducted at Source for 15G / 15H.

Please confirm if this EPF withdrawn amount is Tax free or do I need to pay taxes.
Thanks in advance.


MAKARAND DAMLE
13 September 2022 at 12:25

Final Accounts Presentation

Advocate having Gross Fees more than Rs.50 Lakhs and hence liable for Tax Audit

My question is whether it is compulsory to give previous years figures in balance Sheet and Income & Expenditure Account ?


CA Parul Saxena
13 September 2022 at 12:17

REGARDING IND AS COURSE URGENT

I want to pursue IND AS course...i can not take face to face class...looking for an online class...which one is better?
a) IND as certification course by ICAI
b) EY Certified IND AS course or any BIG 4 certified IND AS Course


amruta
13 September 2022 at 13:24

Provision against Bad debts

As per RBI direction bad debts provision made against investment in PMC Bank. Provision made for last 3 years@ 20% ,from 2020 ,2021 ,& 2022 and for next two years also RBI given direction for provision , Now PMC amalgamate with unity small finance bank and investor of PMC will take NCPS& equity bond of Unity. As PMC amalgamate with UNity SFB what will be the taxation effect for last 3 years bad debts provision , it will added back in computation or not?


Ikramuddin Saifi
13 September 2022 at 11:45

Working procedure for a Loan Licensee

Dear Sir,
We are manufacturer of Pharma products, we want to work for a Loan Licensee (having a self brand name), I want to know the procedure of work/ Accounting/ billing for loan licensee means how to purchase of Raw Materials & How to sale of finished goods and what's necessary records to be maintain for loan license? Please explain. Thank in Advance. IKRAMUDDIN SAIFI


Bhupendra Varshney Jd
13 September 2022 at 11:21

BALANCESHEET FOR PROFESSION

I WANNA DOCTORS PROFESSION BALANCE AND PROFIT AND LOSS ACCOUNT. MY MAIL ID IS ADVYASHI02@GMAIL.COM


CA Chandan Sharma

Sales as per books of accounts maintained is Rs.95 Lacs, however revenue as per ICDS working is Rs.15 Crore.

I am confused which turnover should I consider for applicability of Tax Audit. If I choose sales as per books then tax audit is not applicable and if I choose ICDS working then Tax audit is applicable.

I have not come across any reference which says for tax audit applicability turnover should be considered as per ICDS working.

Please suggest which one to consider with any reference.

Thanks


RAJ
13 September 2022 at 11:08

LC Payable

What are the accounting entries will be pass in books while submitting LC Acceptance to Bank


Sachin
13 September 2022 at 11:02

Deduction u/s80(P0(2)(d)

Where exactly in the judgement in the Hon’ble High Court in the case of Pr. Commissioner of Income Tax and Anr. Vs. Totagars Cooperative Sale Society (2017) 392 ITR 74 (Karn) is it stated that Interest earned by a cooperative society from investments with Cooperative Banks is eligible for deduction u/s 80(P)(2)(d)







Answer Query