Hi Experts,

I have the following query.

Suppose If I sell a house property in May 2024, and if the purchase of a new house property takes time, what is the time limit for depositing the Capital Gains in CGAS Scheme. Should I have to deposit the CG before July 31st 2024 or 6 months from the sale date which will fall in Oct'24.

Thank you

T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances under section 10(14)'. (CORRECTION FILE)
HOW TO SOLVE ABOVE THE PROBLEM.

Scenario: In a financial year, there are previous bills to the contractor each less than Rs. 30,000. A single subsequent payment is made to the contractor exceeding Rs. 30,000, but the total payments made throughout the year (including the one exceeding Rs. 30,000) don't exceed Rs. 1,00,000.

Question 1: Under Section 194C, for the payment exceeding Rs. 30,000, should TDS be deducted only on the amount exceeding Rs. 30,000 or on the entire amount paid to the contractor so far?

Question 2: In this scenario, considering the total payments remain under Rs. 1 lakh for the financial year, would TDS be deducted on future payments to the same contractor even if the individual bill amount stays below Rs. 30,000?
Note: Here single bills are assumed to be from different contracts.
i am of the view that answers to both of these would be in negative because 194C (5) says: "No deduction shall be made from the amount of any sum credited or paid or likely to be credited or paid to the account of, or to, the contractor, if such sum does not exceed thirty thousand rupees"
This to me means that Deduction is prohibited from any bill (previous or future) if it does not exceed 30000 subject to the yearly 100000 threshold.

My grand father died without leaving any will and he had 3 children ie 2 son and one daughter. My father and my uncle are living on one plot (half part each) on the name of my grandfather. Now my father want to distribute this half part plot to we 2 sons of my father. Further my father is not having good relations with my uncle and my father’s sister. Now how to distribute this part of plot in name of we 2 sons without bothering my uncle and father’s sister. Please guide.

If a trust, such as an educational foundation, receives a donation in the form of cash from a private limited holding company as part of its Corporate Social Responsibility (CSR) activities in India, and it has been utilized for the objectives of the company. Whether Form 10BD Need to file or not. it is sufficient to file form 10BB only. Kindly clarify it.

I need to raise an invoice for sales commission. What is the rate of GSt applicable on commission? Is there any HSN code which I need to mention on the invoice? Please guide.

T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances under section 10(14)'.

Hi Friends,
Here s a Pvt co company which regularly pays to Yoga Teachers to provide Yoga practices to its directors at their residence, the invoice is issued in the name of the company at its regd arddress. I want to know
1. Can the bills of Yoga teacher/instructors be booked as business expenses for providing classes for Yoga, Stress management and wellness program for directors.
2. What if the same classes is provided to entire staff at the premises of the company or the yoga instructor.

Please share your thought on above and the conditions when such expenses are allowed as business expenses.


Thanks
P C Joshi

I am looking for expert advice on handling a specific GST concession scenario involving three parties:
1. Manufacturer (my supplier)
2. Trading Company (my company)
3. Merchant Exporter (my customer) who will export goods to his overseas end customer.

My concern is supplying goods to the merchant exporter at a concessional GST rate of 0.1% for exports. My profit margin doesn't support purchasing goods at 18% GST and selling at 0.1%, then waiting for a refund.

Is it possible to purchase goods from the manufacturer at 0.1% GST and then sell to the merchant exporter at 0.1% GST? If so, what steps and documentation are required to execute this correctly and ensure safe trade?

I am seeking genuine advice to promote my products and services in the global market.

Thank you!

Registration Threshold https://cleartax.in/s/gst-registration-limits-increased Sec 22 of GST Act specifics that entities involved in supply of goods AND services to its members below Rs. 20 Lacs per annum can skip GST registration and not charge GST. For TOA, the sum total of all services provided to members / owners is 2.67 Cr per annum (Rs. 4 * 558000 * 12) and we are ten times over that limit.. Hence cannot avoid GST on that account. Rs. 40 Lacs per year limit is only for those who supply only goods and have zero services. TOA does not fall under that category. Is the above understanding of TOA correct?