We have purchased goods from one seller of Rs.51,42,380/- including GST amount. So, should we deduct TDS 0.1%
In financial year 2024-2025 our Turnover is 3 Cr.

Dear sir,i have sales of 122994483@5% and i have purchase of 110000000@5% and packing material@18% is 9100000.can i claim for refund under inverted duty strutrure i have total accumulated itc of 39 lac

I am having an LLP Incoroprated on 26-06-2019 , there was no Business activity for since 04-March-2025 , current FY 2025-26 there is no activity. But we had paid LLP Filling Fees of Rs 50 on 09-09-2025 for Filling Form 8.
Current Senario :
1. All LLP Forms 8 & 11 are filled till FY 2024-25
2. All ITR Filed till FY 2024-25 (ITR also processed with 0 payment Due)
3. We have an Active Bank Account (Durring FY 2024-25 we had done only 2 Transactions for making statutory filing fees on MCA Rs 50/- for Filling Form 8 & 11

Can you please guide
1. Can i close my LLP by Filling Form 24 ?
2. When Should I File the form?
3. From Which date will my inactive period calculated ?
4. Do payment of Goverment Fees like MCA Filling Fees consider as Business Activity will this effect the Inactive period

Can you please share reference of Professional who can help me carrying out Closure of LLP.

Thank you in Advance

Dear Experts,
My friend received an order u/s 74 to pay interest and penalty. Earlier, he was served with a notice to pay the GST along with interest and penalty as he had claimed excess ITC in FY 2018-19. He paid GST only and intimate to department to accept DRC-03 and drop proceeding. He didn't pay Interest and penalty, as in that financial year, there was no output liability, thus ITC was not utilized.
Now, the department served an order u/s 74 to pay interest and penalty.
Please guide, what can he do? The interest and penalty amount is so small, roughly around 7 thousand only. Should he file an appeal or any other way to close this order?

Hello,

I am seeking an expert opinion on whether it makes financial sense to continue holding or exit a minority stake in a warehouse business. Key details below:

- Business: Warehouse / cold storage (partnership firm)
- Ownership: 12.5% minority stake
- Project start: Feb 2022
- Private capital invested: ₹1 Cr (borrowed at 18% p.a.)
- No private repayment so far due to bank loan priority
- Effective private debt today: ~₹1.72 Cr
- Expected private debt when repayment starts (~2 years): ~₹2.05+ Cr

Best operating year (FY 2024–25):

- Revenue: ~₹2.05 Cr
- Operating surplus before loans: ~₹1.26 Cr
- Bank loan repayment: ~₹1.0 Cr/year
- Free cash (entire business): ~₹25–27 L/year
- Cash to us (12.5%): ~₹3–4 L/year
- Expected post–bank-loan cash to us: ~₹15–16 L/year

Additional context

- Major commodity stored: mirchi
- Revenue depends heavily on rotation; low prices have capped growth
- Land value has appreciated from ~₹1.0 Cr to ~₹1.7 Cr

Questions

1. Does holding make sense long term given 18% private capital and minority ownership?
2. Since this is a partnership firm, can any business loss or depreciation be used to offset personal salary income?
3. Does refinancing the 18% loan make sense? If so, what realistic interest rates are currently achievable (secured / LAP / business loan)?
4. Is an exit valuation of ~₹1.8–2.0 Cr reasonable for a strategic buyer increasing control?

Looking for a candid, numbers-based opinion.
Happy to share detailed workings if required.

Respected Sir/Madam

Bankers asked for updated details after demise of Karta for periodic kyc
they sent a message that you have to update the same on income tax portal and apply for new pan card after update and submit the new document with fresh kyc of new karta

What are the compliances being required to be updated on Income Tax Portal.
Please reply

Regards

Tribhuvan

Dear Sir / Madam,

I seek your expert guidance on a specific income-tax issue relating to a proposed Demat and Trading Account for my son, who is a Person with Disability (PwD) suffering from Autism Spectrum Disorder (ASD).

Background:
My son Shounak Ghosh is an adult (major) and is on the autism spectrum. Owing to his condition, he is considered of unsound mind and cannot independently operate a trading account. I am his legal guardian and intend to open a Demat and Trading Account in his name, to be operated by me as guardian, in accordance with SEBI guidelines.

I have referred to SEBI’s “FAQ on Account Opening by Persons with Disabilities”, which permits account opening in the name of a PwD with operation by a guardian, subject to KYC and guardianship requirements.

I have also received the following clarification from Zerodha, the broker with whom I am exploring account opening:

“The child is considered an individual taxpayer, and the income from the account will be assessed in his name, subject to standard income tax slabs.”

My specific queries are:

1. In such a case, who will be legally liable for income-tax obligations arising from trading activities:

> the PwD account holder, or

> the legal guardian who operates the account on his behalf?

2. Will the income (capital gains, dividend, interest, etc.) be:

> assessed entirely in the name of the PwD, or

> clubbed with the guardian’s income under any provision of the Income-tax Act?

3. Are there any special provisions, exemptions, or reporting requirements applicable when:

> the account holder is a PwD (autism), and

> the account is operated by a guardian under SEBI-compliant arrangements?

4. From a compliance and future-dispute perspective, is it advisable to:

> file a separate ITR in the PwD’s name, or

> adopt any additional safeguards or declarations?

Your guidance will help me proceed correctly and compliantly before opening the account.

Thank you for your time and expert advice.


Warm regards,
Bikash Ghosh
(Legal Guardian)

after submitting adt1, its asking to affix dsc in pending for dsc upload srn status.
but if i click on edit (in the adt1) dsc does not open (instead greyed dsc.box text appears)

how to affix dsc to adt1 and pay fees?

ok, its solved. just go to my applications/search ur adt1 srn and click download and then open that pdf in acrobat not in google chrome, ull see dsc , affix there and then upload adt1

Dear Sir/Madam,

I am seeking your expert opinion regarding the correct GST applicability, rate, and HSN classification for one of our products.
We are dealing with a product named “Millet-Based Probiotic Drink”, which is a packaged, non-alcoholic, fermented beverage made from millets, containing live probiotics. It is marketed as a spicy digestive/probiotic health drink, with zero sugar and zero preservatives.
There is confusion regarding whether this product should be classified as:
• a non-alcoholic beverage under Chapter 22, or
• a functional / probiotic / nutraceutical product under any other appropriate heading,
and accordingly, whether the applicable GST rate should be 5%, 12%, 18% or any other rate.

We request your guidance on:
1. The most appropriate HSN code for this product,
2. The correct GST rate applicable, and
3. Any relevant notifications, circulars, or case laws supporting the classification.
Your professional clarification will help us ensure correct compliance and avoid future disputes.
Looking forward to your valuable advice.

Can I take itc on my mobile purchased for business purposes? I have bought 1.5 lakhs iphone 17 pro Max mobile for business use .please clarify with examples?