Dear All,

I have query regarding the ITC. we are providing the services as GTA with 12% GST on output services.
But vendor has charged the GST 18% under (hiring of vehicle).
please advise, can I claim the ITC? there is gap (6%) input vs output services.
your prompt response would be highly appreciated.
thanks

Sir,
WE filed tds return (regular staement) for Q3 (26Q) on time but missed to add one deductee. Now if we add deductee and file revised TDS return for Q3, whether we will have to pay penalty of Rs 200 per day from 1st Feb to the date of filing revised return. Please guide.

Please advise. I purchased a flat with another person for 30 lacs. Other person contributed 15 lacs, I paid 10 lacs and took a loan of 5 lacs over that flat and contributed. Now both contributed 15 lacs each. I am the one who is paying interest on loan. At the time of sale, can I claim this interest as my contribution in this flat and ask for more percentage?

To qualify the Company as a Small Company, is it necessary to fulfill both the paid-up capital and turnover criteria, or is it sufficient to meet just one of them? Kindly clarify.

Thanks in Advance

sir
I was purchased a house in 2011 with my savings and housing loan. The was purchased on jointly me and wife name. In dec 2023 I was sold this house and 1% TDS was deposited in both of ours PAN account. Now I want to know that long-term capital gain will arise only on me or both of us.
thanks

Hi, the RCM for CGST and SGST amounts to 20.73 each, which was auto-populated in 3B but hasn't appeared in 2B. Should I pay or ignore it?

Sir,
Can we claim ITC on VGA, ACD, and On carriage charges levied by CHA to Exporter?
These services are paid by shipping line in foreign currency, shipping line further charged these to Indian CHA, and so on CHA charged to Exporter with GST 18%.

A firm purchased various pieces of adjoining land having different Khasara numbers from various persons at different prices. After a year of purchase, the firm got all the pieces of land consolidated in a single khasara. Post consolidation it converted a part of the consolidated land into stock in trade and another part continues as a capital asset. The portion converted into stock in trade is proposed to be developed in residential plots as per the approved layout after the diversion of such land into non-agricultural land.
Relevant figures are as follows:
1. Total Area after consolidation 100000 sq ft.
2. Converted into stock in trade 70000 sq ft
3. Capital Asset 30000 sq ft
4. Average cost of consolidated land Rs.200 per sq. ft.
5. Saleable plot area after development 35000 sq ft.
6. Cost to be incurred for development Rs.10500000
7. Period of development 2 years
8. Plot sale to commence immediately without waiting for completion of the development

Kindly guide as to the valuation of the stock of plots and also the un-diverted land.

I have unlisted shares as part of ESOP from my Org.
Can anyone elaborate how we can save Income tax if we are holding shares for >3yrs.
For 54F:
- Can we use for agri land ?
- Suppose I used 54f in current FY against purchase of my 2nd home... Is it possible to again use 54F against new home purchase after selling my first home.

Could someone please tell for the Form 26QB which is filled for property over 50 Lak,  there is a field "Date of Payment / Credit made to seller".

what is the difference between Date of payment  and Date of credit to seller ? 

Is it something like say for example, I place an NEFT transfer request with my bank to pay installment to builder at May 01 11 PM IST  and amount gets deducted from my account but  it  gets credited to builder account say on May 02, 01 AM IST  , then Date of Payment will be May 01 but date of credit will be May 02  and then for this field any of these May 01 or May 02 are correct to fill in or what exactly should be filled in ? Please confirm. Thanks.