We got a notice in Form DRC-01 for the FY 2019-20. We are in security agency business where GST is applicable on RCM basis. At the time of filing our first return we submit all details in GSTR-1 as per the invoice I raised at that time ( there was only one invoice), but as we were new we missed to click supply attract reverse charge button on GSTR-1 and filed my GSTR-01 as such. But in our GSTR-3B we put the taxable amount on exempt column as there was no such specific column in GSTR-3B for reverse charge supply at that time. Now department is demand me the tax on that invoice along with interest and penalty, what to do? Is we have to pay for a procedural mistake. please suggest.

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PURCHASE -INV,NO,25/DT.15.02.2024 FOR 2000 USD MADE IN THE YEAR 23-24

FOR ABOVE INV. SELLER SENT CREDIT NOTE FOR 500 USD VIDE CREDIT NOTE NO.01/DT.04.04.2024

WE ACCOUNTED PURCHASES IN 23-24. BUT AS PER IAS 10 IS IT NECESSARY TO RECORD THIS
CREDIT NOTE TRANSACTION IN THE YEAR 23-24 , INSTEAD OF YEAR 24-25 ( AS -10 ,EVENTS AFTER REPORTING PERIOD. )

PL. GUIDE

Dear All,

We purchased a flat this year
Agreement happened on 18th April 2024
26QB TDS was paid @1% (1.7 lakhs) on 18th April 2024

We started received short deduction notices. Turns out seller's Aadhaar and PAN were not linked. Hence, PAN was showing inoperative.

They completed linking it on 24th May 2024

Now, we are still getting deduction notices. Since sale value was 1.7 crore, we won't be able to pay 20% TDS (34 lakhs) since we have already got home loan (disbursed and EMI started)

We are not sure if seller will be able to pay or not. CA mentioned that as per CBDT if TDS was paid by 31st Mar 2024 and PAN Aadhaar linking was done by 31st May 2024, there is relief. Our TDS payment was done on 18th Apr 2024.

Is there a way out of this? Can we appeal to ITR department for relief?

Kindly advise, thanks in advance

Partnership firm is taken over by a partner, all assets and liabilities at book value at 31.03.2024 and continued business as proprietor from 1st April 2024. should the financials of firm as on 31.03.2024 reflect this transfer or it will be taken as post financials event? normal financials to be prepared for firm as on 31.03.2024?

Tax implications of this on partnership firm ?

I received money along with my bothers sisters and uncles when property inherited by us from my paternal grandfather, was sold ten years before. my 1/12th share. (2 uncles and 2 siblings and mother). Rs.10 Lac was not given by the builder then and held back as security until premises made vacant by tenants. But builder lapsed on the agreement for ten years for lack of money . Now after raising a legal notice by us, he has agreed to restart the project and pay Rs. 10 lac withheld. I had disclosed the full amount before ten years in my IT return as Capital Gains. I had put the indexed amount under NHAI bonds for 5 years. This amount then included the INR Ten lac receivable now. So Should I now re-disclose this INR 10 Lac amount in FY 24-25 ?. Is it necessary?
In the meantime I lost my mother 2 years back. so her share of INR 10 Lac will be divided among her 3 children. So I will receive INR 10 lac/ 3 from my mothers bank account ,which is operable by my sister. how to treat this money in my return next year?
The builder will enter into a agreement now to give interest on INR 10 Lac for ten years (as per previous agreement) in the form of space of 100 sft. but again convert this 100 sft x Rate per square foot to INR and pay at the time of plinth may be 1.5 to 2 years hence to me (and all others as well) . How to treat this substantial money to tax then?
How to save tax on this amount receivable after 1.5 to 2 years. can it be treated as LTCG and amount diverted to NHAI bonds under sec 54c. Or can it be treated as hardship amount. Which is the safe way w.o. tax hurdle. or any other way. please let me know fast as we have to enter in to a MOU with Builder in coming few days.

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Hi ca expert team please resolve this error.

T-FV-4086 Valid Amount of Payment / Credit / Debited must be provided
Please help how to resolve this error

Respected Experts,

I have not attempted final exam from may 20 attempt. Now I want to give exam in nov 24. My question is whether I am required to complete ITTCS/GMCS now to appear for final exam, because when I passed by ipcc there was no such compulsion to complete this as I took admission in PCE at that time only requirement was to complete the Itt training and GMCS was to be completed afterwards.
I want to give the exam and i am a working person please help me out and let me know what can be done in this case.
Will be grateful if you can provide me with suggestions

Sir In a unregistered & notarised Partnership with 2 partners, if one of the partners say resign on x date ( Partnership is at Will) and on the same date another partner is inducted.
Q 1. Whether approval of exiting partner is required? ( No clause in the Deed regarding approval of existing partner)
Q2. Whether firm can be continued with the induction of a new partner ?
Q3. If a Non registered firm is continued even after dissolution, does it attract any penalty or offence?