I have purchased an apartment and submitted form 26QB for a joint seller property. The seller took payment in one person and buyer deducted the tds on that payment to that one person on the request of seller. Now, after 1.5 years seller wish to correct TDS 1/2 & 1/2 of both holder of property. Due to credit of entire TDS on one seller, income tax department is wrongly calculating previous year tax. Is there any solution possible?

I know that gifts from specified relatives is tax free. But, I want to know whether gifts having value more than Rs 50k per FY from brother's son are taxable.

Umapati Mishra

which is best sites to know regarding share
Merger , Demerger or Amalgamation, Delsited to Know knowledge
and also to Download BSE/NSE Circular

Sir, the liability was reported in wrong head in GSTR 3B (reported in IGST instead of CGST and SGST) and correct head in GSTR 1. Overall tax liability is matched and there is no payment due from my side.

Assessing officer is contending that to pay the SGST portion of IGST amount and take refund from the IGST amount (SGST portion)
Please suggest me the course of action from my side.

Thanking you sir,

Yours faithfully,
B. Rajasagar Varma
Tax Consultant

Can I booked last month invoice bill in April-2024? Incase if i mentioned lastmonth date and posted in current month then what are the issues are happened?

Deferred government grant income book in this year which is not received in this year. grant received in earlier year. but i want to know whether this government grant which is arising from earlier year can be considered for calculating profit under section 198.

As per Section 63 of the Indian Partnership Act, 1932, a notice needs to be sent to the registrar of Firms if there's a change in the "constitution of the firm." My question is:

Do adjustments of terms among existing partners in a registered firm, through a supplementary or amendment deed (including profit-sharing ratio changes), qualify as a "change in constitution" requiring a notice to the Registrar of Firms, considering there's no admission of new partners or retirement of existing ones?

Hi Everyone,
Can anyone help me to solve my problem that how to report my Courier Shipping Bill Number (CSB-5) in GSTR-1 as Shipping Number, Port Code are mandatory information for GST ITC Refund, CSV-5 is 15 digits long, but they are allowed only 6 digit number

I have two trust. Can I give loan to another trust with interest free loan???

What will be it's tax treatment in both the trust

Kindly reply

If an assessee has paid for mediclaim premium of his father, however the father is the policyholder, insured and proposer of the policy, can the assessee take deduction for the same on the basis of mere payment of father's mediclaim premium or will the father here be eligible to take deduction.