Experts : 1 Days Post

Displaying all posts within 1 days

Dhirajlal Rambhia

18 May 2024 at 17:38

Posted On : 18 May 2024

In Reply To :

RENT RECEIVED FROM VEHICLE HIRED BY COMPANY

He can declare it under Business head.

Sandeep Kumar Sahu

18 May 2024 at 17:32

Posted On : 18 May 2024

TDS on income generated Outside India

We an Indian Company have awarded a contract to an Indian Resident company for a project outside India. We have deducted Tax at source from the bills of the Indian company as per the extant rules of the foreign country. However, we are making the net payment against the bill in INR to the Indian resident company from India to their Indian account.

Are we liable to deduct IT TDS again from such remittance as per the rules of Income Tax of India?

raghavendra b

18 May 2024 at 16:50

Posted On : 18 May 2024

In Reply To :

RENT RECEIVED FROM VEHICLE HIRED BY COMPANY

Thank you Sir for your reply,

Hire charges received from the company is taxable under business head or other sources because he is doing video and photography for marriage and functional accassions or if declared u/s 44ae of presumptive taxasation but he is not doing transport business only renting his vehicle.

I want your suggestions

regards

Dhirajlal Rambhia

18 May 2024 at 15:21

Posted On : 18 May 2024

In Reply To :

RENT RECEIVED FROM VEHICLE HIRED BY COMPANY

Must have been Vehicle Hire Contract.

Dhirajlal Rambhia

18 May 2024 at 15:15

Posted On : 18 May 2024

In Reply To :

Advance from Sundry Debtor woh to Show

Schedule BS, ITR 3... Part A, Column 4(ii) ... (Source of Fund)....

Amandeep Singh

18 May 2024 at 14:44

Posted On : 18 May 2024

Advance from Sundry Debtor woh to Show

Dear Sir,

We have advance from Sundry debtor in Credit Side in Balance Sheet. While Filling ITR-3 i dont find anything where i can show Please suggest Can we show under Sundry Creditor

Please advise

raghavendra b

18 May 2024 at 14:43

Posted On : 18 May 2024

RENT RECEIVED FROM VEHICLE HIRED BY COMPANY

DEAR SIR,

MY CLIENT OWNED HEAVY GOODS VEHICLE (16WHEELS) AND ATTATCHED TO THE COMAPNY. THE COMPANY DID NOT DEDUCT TDS U/S 194C BUT IN FORM 26AS SHOWING BUSINESS RECEIPT OF RS 64300. BUT AS PER SECTION TDS SHOULD DEDUCTED IF THE CONTRACT BETWEEN THE CLIENT AND COMPANY. IS THERE ANY PROBLEM TO CLIENT OR NOT
MY CLIENT ALSO DOING OTHER MAIN BUSINESS PHOTOGRPHY AND VIDEOGRAPHY.

THE INCOME FROM CONTRACT HIRED FROM THE COMPANY SHOULD BE DECLARED IN OTHER SOURCE OR BUSINESS INCOME.

PLEASE GUIDE ME

mranalini shrivastava

18 May 2024 at 14:40

Posted On : 18 May 2024

In Reply To :

Regarding CA advice

What will be the growth opportunities after that ??

Nisha Kathuria

18 May 2024 at 14:27

Posted On : 18 May 2024

Term Loan Interest Show Under Capital Account

Sir,

Proprieties have 3 Term Loan and 2 CC Loan account Interest from All Loan account FY 2023-24 is Rs.991000/- Where 661000/- Interest as Term loan. Proprietor have taken term loan from shop and home proprietor but he used Loan amount for Business purpose. In FY 2023-24 Net profit is around Rs.43500/- according to owner we should show NP around Rs.600000/- So can we Charge Term Loan Interest Rs.661000/- to owner,s Capital account and Rs. 330000/- CC Interest to PNL Account
Please advise Sir,

Nikhil Kaushik

18 May 2024 at 14:26

Posted On : 18 May 2024

In Reply To :

Regarding CA advice

wont make much sense to go for it now as you will have to take a break and do internship for 3 years.

Better to go for CFA.

CA. Bhavik P. Chudasama

18 May 2024 at 13:10

Posted On : 18 May 2024

In Reply To :

Reverse Charge on transport

RCM is applicable on GTA Services subject to transporter issues Consignment Note that is that Law Says, but to avoid any litigation in future you can Pay RCM and get away with it

mranalini shrivastava

18 May 2024 at 12:52

Posted On : 18 May 2024

Regarding CA advice

Hi Sir,

I am a 29 year old girl already holding a degree in MBA and working in the field of Human Resources from last 6+ Years. After thorough analysis , i am thinking to pursue CA along with my job and give it a try. As i already hold an MBA degree i am thinking to attempt inter Group 1 in may 2025.

It is really possible to start from scratch at that age, considering i will be definitely having family responsibilities after 1-2 years. Also in case I finish it by 33-34 years of age what opportunities I ll be having as a CA fresher at that age or in case i start my own practice at that age what are the growth opportunities in that ??

Please help me with this. I need guidance

CA R SEETHARAMAN

18 May 2024 at 12:24

Posted On : 18 May 2024

In Reply To :

MOA/AOA of photography

For partnership business MOA/AOA not required.
For partnership make this as objective.
The primary goal of a photography business is to turn the photographer's passion and skills into a profitable venture. To do this, they must attract and retain clients by offering high-quality photography services, establishing a solid brand, and marketing their services effectively.

Akhil Manuel

18 May 2024 at 10:32

Posted On : 18 May 2024

Trademark Search

We have incurred an expenditure for trademark search in different countries. Does this expenditure need to be capitalized or not? If not, in which ledger we should post this expenditure.

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