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Recent Questions

Question added Jun 26, 2020 Income Tax By ALOK YADAV , Allahabad

answers

839 views

Q. M&A - Can discontinued busines carry forward their losses.

Question added Jun 26, 2020 Audit By Mittali Sharma , CA , Vadodara

answers

903 views

Q. Bank Empanelment - Whenever i try to login for empanelment it shows me the error of wrong UCN number please solve this ASAP

Question added Jun 23, 2020 GST By jatinpal , CA , ludhiana

answers

932 views

Q. GST on Food Supplied to Patients in Hospitals - A client wishes to commence a business of supply of food to patients in hospital. Is this supply is taxable or exempt? If taxable please explain it.

Question added Jun 19, 2020 Audit By Kalantri@1 , CA , Mumbai

answers

836 views

Q. Not able to fill Bank of India Empanelment Form - I tried atleast 4-5 times to fill the Empanelment of Bank of India for concurrent audit. But it shows error while processing. Please help me in this problem ASAP.

Question added Jun 18, 2020 Corporate Law By HARISH BHATIA , CS , Anantapur

answers

952 views

Q. ADJUDICATION - Dear sir / Madam , one of our clients has received for notice i.e. order for payment of Rs 3,00,000 for violation of sec 12 as the company has filed inc-22 within the period, now we want to go for an appeal , however at the filing ADJ-1 it shows we have file condonation of delay, however my view for filing of appeals also date extended due to COVID-19, please confirm whether a date is extended or not regarding appeals. please guide me in detailed

Question added Jun 16, 2020 Corporate Law By RAGINI AGRAWAL , CS , Bangalore

answers

1139 views

Q. Incorporation of Section 8 Company - My query is can we incorporate Section 8 Company in India with one resident, NRI and Foreign National. The NRI and Foreign National can become a member in it without any FCRA approval?

Question added Jun 15, 2020 Income Tax By Kollipara sundaraiah

answers

877 views

Q. Capital introduced - One of new small i.t.assess source of income repairs Works as a Goldsmith works.net profit rs.3,15,000/-and balance sheet filed compulsory in f.y.2019-2020.assess no bank transtration and not any asset purchase.
Assess first balance sheet capital and cash on hand opening balances introduced as on 01-04-2019 shown minimum and maximum in i.t.returns as per i.t.act

Question added Jun 05, 2020 Income Tax By ALOK KUMAR DAS , CA , KolkataM.C.

answers

1093 views

Q. LONG TERM CAPITAL GAIN - LTCG on sale of shares & mutual funds. need some good examples on this subject

Question added Jun 05, 2020 GST By ALOK KUMAR DAS , CA , KolkataM.C.

answers

1043 views

Q. GST AUDIT - any good write up about GST AUDIT

Question added Jun 05, 2020 Audit By ALOK KUMAR DAS , CA , KolkataM.C.

answers

1151 views

Q. stock audit - a sample stock audit report for a pvt. ltd. company

Question added Jun 05, 2020 Income Tax By S Srinivasan , CA , Hyderabad

answers

847 views

Q. Income Tax - U/s 207 a Senior citizen without business income need not pay advance tax. But the Department CPC has charged interest under S 234B and 234C.
Has anyone experienced so and if there is any case law decided please post.

Question added May 28, 2020 Banking By ALOK KUMAR DAS , CA , KolkataM.C.

answers

1260 views

Q. concurrent audit of canara bank - In the form of empanelment,there is an information regarding the Date of Registration with RBI. How to get this date of Registration ?

Question added May 22, 2020 Income Tax By Kollipara sundaraiah

answers

1313 views

Q. Opening balance in I.t. returns - Assess maintained a retaile kirana stores.
Sales turnover finicial year 2018-2019 rs 30 lacs net profit rs.2,90,000/-
Sales turnover finicial year 2019-2020 rs.35 lacs net profit rs 3,40,000/-.
Assess two years I.t. returns filed.sales and purchases ledger maintained.
Question:
Assess how much amount cash and hand and capital (minimum and maximum) opening balance introduced as on 01-04-2018 shown in balance sheet in I.t. returns under I.t. act

Question added May 12, 2020 GST By Rahanu boobna , CA

answers

1431 views

Q. Bad Debts write off - Dear Sir,
Kindly advice, Bad debts is write of due to
1. Short Quatity
2. Higher invoicing
3. Quality Issue

Can we are liable to Reverse ITC on proportionate basis under GST Act.

Question added May 02, 2020 Audit By DILIP KUMAR PAL , CA , Serampore

answers

2230 views

Q. Concurrent Audit of a Bank Branch - Whether the Concurrent Auditor of a Bank Franch can travel to the Branch within the Orange Zone after 04/05/2020

Question added Apr 25, 2020 GST By samarath mal surana , CA , New Delhi

answers

1658 views

Q. Goods and Service Tax - Any due date extended for March 2020 GSTR-3B?

Question added Apr 12, 2020 Income Tax By Kollipara sundaraiah

answers

2167 views

Q. Construction value in books - I.t. assess construction for commerical building new strated in f.y.2019-2020.some construction expenses Rs.5 lacs paid cash mode payment(10 thousand limit above).
Some construction expenses paid Rs.12 lacs payment through bank account payee.total construction expenses Rs.17 lacs in f.y.2019-2020.
My doubt assess construction expenses amount Rs.12 lacs or 17 lacs show in account books.and cash expenses (above 10 thousand )depreciation claim eligible or not

Question added Apr 01, 2020 GST By Akhtar , CA , Ghaziabad

answers

2633 views

Q. GTA opt RCM to FCM - Sir, i have a query, there is a Transporter who is Presentaly Raising Invoices 5% without ITC, Now he has purchased some Capital Goods they have huge amount of ITC so He wants to go for 12% with ITC,

My Query
1. he can go for 12%.????
2. if Yes, When He has claimed all ITC, whether he can opt again 5% GST without ITC

Question added Apr 01, 2020 GST By Akhtar , CA , Ghaziabad

answers

2540 views

Q. GST opting RCM to FCM by GTA - Sir, i have a query, there is a Transporter who is Presentaly Raising Invoices 5% without ITC, Now he has purchased some Capital Goods they have huge amount of ITC so He wants to go for 12% with ITC,

My Query
1. he can go for 12%.????
2. if Yes, When He has claimed all ITC, whether he can opt again 5% GST without ITC

Question added Mar 28, 2020 Income Tax By CA JPS BHATIA , CA , Kanpur

answers

2266 views

Q. deductions u/s 80c - can payment to lic made after 31 march 2020 due to extended period be claimed

Question added Mar 20, 2020 Income Tax By R KANDASUBRAMANIAN , CHENNAI

answers

2483 views

Q. 40(a)(ia) not allowed to claim 30% benefit - Sir when we file ITR 3 please refer part OI in this part serial no 8 b states amount of disallowance under section 40(a)(ia) which amounts to 30 percent of ten laks say three laks but in tax audit ref form 3CD serialNo 21. Details of amount for which no TDS has been deducted and in this we had shown the details and mentioned total amount Rs ten Laks. But cpc income tax dept saying that the amount shown in OI and tax audit report differs and added the entire amount of rupees ten laks. We have objected this proposal and intend to file rectification under section 154. Pl guide how to proceed sir.

I have filed objections and suppose if cpc rejects the objections shall rectification will be filed under section 154 and whether it is coming under preview of section 154 since it is the question of law. Views will be invited from experts regard this query.

Question added Mar 20, 2020 Income Tax By R KANDASUBRAMANIAN , CHENNAI

answers

2006 views

Q. business loss disallowed for set off against interest from bank - Please refer ITR 6 for A.Y. 2019-20 net profit included income from interest In BP part we have shown interest income as income considered under other heads and accounted the same as income from other sources resulting BP has shown business loss and bank interest is shown under income from other sources. Cpc disallowed this business loss stating PL account not showing loss. How to file rectification under section 154 and how to explain this details while filing

Question added Mar 19, 2020 Income Tax By Kollipara sundaraiah

answers

1481 views

Q. How to increased cash in hand in property concern - Iam finalization accounting data in property business.cash on hand very is low.how to many ways of cash in hand increase producure in property firm.

Question added Mar 19, 2020 Audit By CA. NAVEEN KUMAR , CA , Patna

answers

1350 views

Q. Statutory Bank Branch audit - Can one accept the statutory Bank branch audit if taken housing loan from the same bank.

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Mrattunjay

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PRIYANKA

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Answers Posted : 136

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Answers Posted : 131

Vaneet Gupta

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Answers Posted : 120

Ketan Samdani

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Answers Posted : 117

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