S
Senthil
I'm looking to borrow money from the market against collateral for fixed interest payment over one year. In the books - Will the repayment of borrowed money + interest treated as liability/Loss?
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Hi
Amount borrowed will be treated as liability and the interest will be treated as your expense.
The interest will be reflected in your profit and loss account and loan amount will be reflected in your balance sheet
R
Rajesh
Does a Pvt. Ltd. Company director needs to use his DSC to file his personal ITR?
No. Its not mandatory
CA Sakshi Gupta 3 Sep 2018Hi
No the DSC is not required. The return can be verified through Aadhar OTP.
S
Sunil
My wife have received IT compliance for non filing of IT returns in Mar'18 ( NMS - FY2016-17), referring 26AS for FD interests ( Also she received 'Investment (NIN03)' compliance for MF investment of 35 lacs, which I will mention my PAN number as source, anyway )
After a discussion with a buddy CA, we have listed the possible option to fill in compliance portal against the verification id. Please verify the planned response and correct, if required.
She pledged her excess 40 sovereign jewels to hubby for loan of 19 lacs, which is paid to her in various dates in 2015-2016. The amount received was invested as FD on Mar'16
I have also received comments that AO will not get convinced on this etc. If its legal , then how can he question it.
Can you people, verify these and update me right proceedings.
R
Raj Jose
Can I accept 20 lakh rupees in NRO account from non-relative as a gift?
Certain receipts have been specifically exempted from these provisions. In case of individuals, receipt of either cash or immovable property or other specified property under the following circumstances is not to be subject to tax in the hands of the recipient:
receipt from relatives;non relatives is not exempt
Y
Yogesh Mangaj
I am a salaried individual, and I traded in F & O with turnover less than 1cr and running into losses. Do I have to get my tax audited by a CA?
