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Aashok Kumar Sharma

03 March 2026 at 07:32

Posted On : 03 March 2026

In Reply To :

Selecting Tax Regime while for calculating tax relief on under Section89 of income tax act 1961.

For your FY 2025-26 filing, you must file Form 10E before submitting your ITR. You are permitted to use different tax regimes for the past years' relief calculations compared to your current year's regime. Specifically, you can select the New Tax Regime for historical years in Form 10E if it yields a higher relief amount, regardless of how you originally filed those years' returns.

Aashok Kumar Sharma

03 March 2026 at 07:31

Posted On : 03 March 2026

In Reply To :

Cloud service

For a 1-year cloud subscription payment to an Indian company, you should deduct TDS @ 2% under Section 194J (as Fees for Technical Services), provided the total annual billing exceeds ₹50,000. Ensure the deduction is made at the time of booking the invoice or making the payment, whichever comes first.

Aashok Kumar Sharma

03 March 2026 at 07:31

Posted On : 03 March 2026

In Reply To :

GST on Fresh Juice Center(Sugarcane)

Under the 2026 GST 2.0 regime, a Juice Center serving fresh sugarcane or fruit juice is classified as Restaurant Service (SAC 9963). It is taxable at 5% without Input Tax Credit (ITC). While Notification 09/2025 also lists fruit juices at 5%, that specifically refers to the supply of juice as "Goods" (usually packaged). For an outlet that prepares and serves juice, the Service classification is the standard choice.

Aashok Kumar Sharma

03 March 2026 at 07:30

Posted On : 03 March 2026

In Reply To :

GST ON FOREIGN CLIENT

Since the goods were exported and the recipient is outside India, your services are zero-rated. You should file an LUT to bill the client without IGST. In GSTR-1, report this under Table 6A as an export of services. Ensure you receive the payment in foreign currency to solidify the "Export" status.

komal soni

02 March 2026 at 15:44

Posted On : 02 March 2026

GST ON FOREIGN CLIENT

Dear Expert,
I am working in a Custom Broker firm where all the Customs related work is done on behalf of Importer and Exporter. Recently, one of our client, who is located outside India and does not have office in India, ordered some goods from India. All the Custom related formalities have been done by us and goods have been exported via sea route. Now at the time of billing, IGST shall be charged to that client or not. if IGST should not be charged, then how it will be shown in GSTR-1.

nitin gulati

02 March 2026 at 15:29

Posted On : 02 March 2026

GST on Fresh Juice Center(Sugarcane)

"Restaurant service" means supply, by way of or as part of any service, of goods, being food or any other article for human consumption or any drink, provided by a restaurant, eating joint including mess, canteen, whether for consumption on or away from the premises where such food or any other article for human consumption or drink is supplied. Keeping in view whether Supply of Fresh Fruit Juice by Juice center will be covered in this service taxable @ 5% without ITC OR as Goods taxable @5% as per Notification No 09/2025 SN-133 HSN-2009 -Fruit or nut juices (including grape must) and vegetable juices, unfermented and not containing added spirit, whether or not containing added sugar or other sweetening matter. Kindly share opinion

Rajkumar Gutti

02 March 2026 at 13:01

Posted On : 02 March 2026

Cloud service

Payment made to Indian company for providing cloud based service. Subscription is for 1 year.
Is tds applicable, if yes which sec.

rmalhotra

02 March 2026 at 11:00

Posted On : 02 March 2026

Selecting Tax Regime while for calculating tax relief on under Section89 of income tax act 1961.

Hence query:-

1 Can for financial years 2021,2022,2023 the tax calculations ( inclusive of arrears of respective years ) be done Sir
During FY 2025-26 some arrears are received and these arrears are of and related to earlier financial years. Where as in current financial year income ( i.e for Assessment Year 2026-27 ) ITR is to be filed under New Tax Regime ( which is now a default regime in individual case ). But for income of earlier financial years i.e 2020-21, 2021-22 .2022-23, the ITRs were earlier filed under Old Regimes in their relevant assessment years.
Now relief under section 89 is to be claimed with calculations and by filing of Gorm10E in assessment year 2026=27.now as per New Tax Regime when ITRs of these FYs were already filed as per Old Regime and time of filing of Revised Returns is also already elapsed.
2. Can there be mismatch allowed of selecting different Tax Regimes for calculating only relief of Section 89. pertaining to past ITRs already filed. OR Tax Regime has to be mandatorily to be same for Relief Calculations and that of ITRs of related Financial Years.
3 Can in above case , New Tax Regime can be chosen for calculating relief under section 89 for earlier financial years, if New Tax Relief turns out to be more beneficial in such case

Please guide point-wise.

Thank You.

Aashok Kumar Sharma

02 March 2026 at 07:07

Posted On : 02 March 2026

In Reply To :

CSR Impact Assessment

As per the Companies Act, 2013, companies meeting specific thresholds must spend 2% of their average net profits on CSR. Impact assessment expenditure (capped at 2% of total CSR spend or ₹50 lakh, whichever is higher) and administrative overheads (capped at 5% of total CSR spend) are both permissible CSR expenses that count towards fulfilling this 2% obligation.

Pranita Purohit

01 March 2026 at 15:54

Posted On : 01 March 2026

CSR Impact Assessment

If impact assessment expenditure incurred by a company be treated as part of CSR expenditure? or will it be over and above 2% expenditure obligation/

also maximum 5% cap on overhead expenses on CSR. if these overheads be treated as part of CSR Expenditure.

thus if this 2% Impact Assessment fees and 5% administration overheads is over and above legal CSR obligation of 2% of average net profit?

Aashok Kumar Sharma

01 March 2026 at 05:52

Posted On : 01 March 2026

In Reply To :

P&L and B/s Format for Public Companies

Public listed companies in India must use the standardized format prescribed under Division II of Schedule III of the Companies Act, 2013. This includes producing a Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and Statement of Changes in Equity, all prepared in compliance with Ind AS and incorporating specific disclosures required by SEBI, such as promoter shareholding and ageing schedules for trade receivables.

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