A club received a life membership fee.
Should the amount be capitalized or taken to income?
If income, can it be spread over a number of years as decided by the management? Please share if there are any expert opinion or case studies. Thanks.
membership
life
received
club
Is GST applicable on the commissions received from a foreign company? If so, at what percentage? If it is a one-time commission, what is the GST rule?
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commissions
applicable
What does section 52(2) of a company act refer and explain it.
shares
issue
received
premiums
application
Dear Colleagues,
Advance received for sale of scrap exceeding 365 days from the date of acceptance of advance will be treated as deposit?
the Assessee is carrying the business of Clearing and forwarding (CHA) and received from their customer reimbursement of expenses and the service charges but the customer has deduct the TDS on inclusive of reimbursement of expenses so there is a Mismatch in receipts as per ITR and 26 As . The assesee has not omitted any income but shown in the ITR as net (excluding reimbursement of Expenses) because the reimbursement of expenses is not the income of the Assesee so in that case how to be proceed with Income tax authorities . So please give your valuable suggestion on this matter along with any notification or circular if any .
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assessment
received
intimation
Please clarify whether Incentives received on supply of exempt goods is taxable under GST ex. retail outlet of petrol and diesel.
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Received intimation u/s 143(1) for my client.Want to file rectification request by uploading rectified ITR_3 XML file.But the ITR Utility is calculating late fine of 5000 u/s 234F.Original Return filed within due date only. Pls help.
intimation
received
DEAR MEMBERS,
DIRECTOR OF ONE PRIVATE COMPANY HAS RECEIVED SHOW CAUSE NOTICE UNDER SECTION 99 FOR THE CONTRAVENTION OF SECTION 96 OF THE COMPANIES ACT, 2013. AS AGM OF F.Y.2015-16 WAS HELD DURING JUNE,2016 AND THAT OF F.Y.2016-17 WAS HELD ON SEPTEMBER,2017. GAP BETWEEN TWO AGM IS 15 MONTHS AND 7 DAYS.
IT IS SMALL CLOSELY HELD COMPANY HAVING 2 DIRECTORS AS SHAREHOLDERS AND MOREOVER IS NOT CARRYING ANY MAJOR BUSINESS ACTIVITIES. CAN ANYONE ADVISE HOW TO REVERT FOR THE SAME.AND WHAT ARE THE CONSEQUENCES FOR THIS NON COMPLIANCE?
AMOUNT RECEIVED FROM INSURANCE CO IS EXEMPT U/S 10(10D).IS IT APPLICABLE TO ANY AMOUNT OR THERE IS SOME OTHER CONDITIONS.
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I am not getting COI of 2 new companies since last 15 days of their incorporation. MCA master data is showing companies are incorporated but COI still not received. Anyone facing this problem? Tickets also raised but no response received till date.
Kindly Reply.
received
Dear all members, Company Incorporated in 2012. subscriber not pay subscription money as per MOA and business was not started ... As per accounting rule 1. at the time of incorporation paid up capital rs. 1,00,000/- shown as a capital and subscriber as a debtor. 2. Now debtor was not ready to pay subscription money 3. can we considered as a loss. so, balance sheet will tally as per accounting slandered. Please share your views. If, there is any rules and act specified provide me. thanking you.
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money
subscription
Dear Members, If Company receiving subscription money in tranches(say 50% on signing of agreement and 20% in 2 months and rest 20% in next 2mnths) for issue of Convertible Debenture from Foreign Investor. Then shall we allot deb. in tranches as well?? & file FCGPR multiple times, as we need to comply Companies act , 60 days time frame OR shall we allot all debentures after receining full subsciption money.
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received
money
subscription
