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Credit note and debit note

Direct Taxation

answered on 08-Apr-24 10:54

What is the time limit to issue credit note under GST as per the amendment( if any) ??

latest answer

Thank you sir 🙏

Code X

CA Inter

★ 810

Surcharge

Direct Taxation

answered on 08-Apr-24 09:29

If income from other sources: 60 Lakhs Income from Capital Gains: 240 Lakhs What would be the rate of surcharge: 15% on total tax liability through both income Or 10% surcharge on other sources and 15% on capital gains?????

latest answer

Right.

Nikhil Tiwari

CA Inter

★ 15K+

Taxation of trust.

Direct Taxation

answered on 15-Apr-24 14:52

Sir, in the calculation of anonymous donations to be part of normal income, whether such TOTAL Donations include grant received from government?

latest answer

It is practically taken into account.

manideep martha

CA Final

★ 10K+

Capital gain in q2 pgbp

Direct Taxation

answered on 08-Apr-24 09:34

Cost of 2 machines =385000( (77000/4)*2) Sales amnt = 10,00,000 Capital gain=615000. This was my calculation. Bt this ansr is different. Kindly advice me . I didn't get the logic.

latest answer

Capital gain would come only when block becomes empty or WDV becomes negative.

1 Minute Review

CA Inter

★ 405

Deduction

Direct Taxation

answered on 08-Apr-24 09:32

A sum of 20000 donated in cash for scientific research under Section 80GGA . Is deduction allowed?

latest answer

This option is given based on the most suitable option.

Lavi Lavanya

CA Inter

★ 6K+

TDS QUARTERLY RETURN

Direct Taxation

answered on 08-Apr-24 09:40

What’s the due date? Is this correct?

latest answer

Yes it is. It is due date for TDS return.

Swetha S

CA Inter

★ 3K+

interest paid to partner current a/c

Direct Taxation

answered on 31-Mar-24 23:25

what is the treatment for interest paid to partners current a/c is it fully allowed or not.

latest answer

As per Income Tax, maximum interest that can be paid to partners is only 12 percent

ashwaq shariff

CA Inter

★ 2K+

Doubt

Direct Taxation

answered on 31-Mar-24 23:26

Mr. Sunil has filed his return of loss for A.Y. 2024-25 on 31.7.2024 and received a total refund of ₹ 44,500. On 15.9.2024, he would like to furnish his updated return of income for additional income. In case he furnished his updated return of income for additional income, he would be liable to pay ₹ 57,000 towards tax and ₹ 6,700 towards interest for additional income to be reported in updated return. Compute the additional income-tax payable by Mr. Sunil at the time of filing his updated return. (RTP Nov ‘23) (a) ₹ 27,050 (b) ₹ 15,925 (c) ₹ 14,250 (d) ₹ 31,850

latest answer

Amount he is liable to pay and refund already claimed. Total *25 percent