1.If cdac failed to file its income tax return before the due date mentioned in sec 139(1).

Is it possible to
file it later what is the time limit for belated return

What happens if not filed in before 31 march and its consequences

2. Which accounting standard deals with govt grant

How we accunt grant in accounts as per as guidelines

2 appraoch capital and income

Capital no repayment considers as capital represented as incentives from govt

Income approach recognized in pand lon systematic and rational basis over a period of yeas matching
with the related costs

contingency related to a government grant, arising after the grant 128 AS 12 has been recognised, is
treated in accordance with Accounting Standard (AS) 4, Contingencies and Events Occurring After the
Balance Sheet Date.

7. Non-monetary Government Grants 7.1 Government grants may take the form of non-monetary
assets, such as land or other resources, given at concessional rates. In these circumstances, it is usual to
account for such assets at their acquisition cost. Non-monetary assets given free of cost are recorded at
a nominal value.

Disclosure 12.1 The following disclosures are appropriate: (i) the accounting policy adopted for
government grants, including the methods of presentation in the financial statements; (ii) the nature
and extent of government grants recognised in the financial statements, including grants of non-
monetary assets given at a concessional rate or free of cost.

3. Tell me about the kinds of reports you have experience making.

nnual budgets, balance sheets, spending reports, and cash flow statements. I also have
experience presenting these reports to others, including higher-level management and C-
level executives.

Difference between 194 JA and JB

If person require to deduct tax under any of provision of Chapter XVIIB Tax Deduction
at Sources.
2. Transaction is done with Specified person. (Specified person means a person who
have not filed his return of Income of immediately two preceding previous years, for
which due date U/s 139(1) has expired.
For Eg. If tax is required to deduct for July 2021, Previous year 2021-22, so for relevant
immediately 2 preceding previous years for which ITR filing required to be checked
are 2018-19 and 2019-20 (AY 2019-20 and 2020-21 respectively). As the time limit for
Preceding Previous Year 2020-21 is not expired
3. Aggregate of tax deducted at source and tax collected at source in his case is rupees
fifty thousand or more in each of these two previous years.