hiii!!! my turnover is greater than 50cr last year and plant value is 1cr, classified as medium. but this year my turnover is 45cr. can i reclassify myself to small??
can i go from medium to small??

I stayed oversees 30 years. In FY 2024-25 returned to india (stayed oversees 184 days) with the intention to settle here.

1. For FY 2024-25, I returned to india on 2nd October 2024 (stayed oversees 184 days) with the intention to settle in India.
Am I NRE for FY 2024-25?

2. For FY 2025-26, I plan to stay oversees 184 days and rest of period in India.
Will I be considered as NRE taking in to account if any changes in current finance budget 2025.

IF I stay < 120 days in India, makes any difference.

3. For FY 2026-27, I will become NOR or Resident.

4). What about my NRE deposits (convereted in rupees) for above Financial Year?
Can I convert to RFC account , once I become NOR or Resident.

5). Are my NRE deposits interest taxable ?

6). When I must report to bank ie. in which financial year?

if flat in mumbai gifted by mother to married daughter, stmap duty is 1%. but both are us citizens, then still its 1%?
my view --> yes, its 1% as i cant find citizen word in mah stamp act. but not sure,

ps this is not forum for such spefici stamp duty quetions, so i am only hoping someone might reply.
thank u,
regards, ca kunjan

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Dear Experts,

I seek clarification regarding the inclusion of gratuity as part of the Cost to Company (CTC). Many companies include gratuity in the CTC structure, but as I understand, gratuity is a loyalty benefit paid by the employer only after the completion of five years of service.

If gratuity is included in the CTC, should it be paid to the employee as part of the full and final (F&F) settlement upon exit, even if they have not completed five years? Additionally, is it appropriate to include gratuity in the annual package from a compliance and ethical standpoint?

I would appreciate a clear perspective on this matter.

At which rate TDS need to be deducted on the above subject, Suppose I have made sale agreement of RS. 11,50,000 then how much TDS should be deducted and in which time it should be paid to the income tax department.

Also explain what are the tax implication in the hands of NRI.

If a parent is the proposer and payer of a single-premium ULIP that insures the life of his adult child, the parent has effectively bought the ULIP on behalf of the child. I have the following queries:
A. Would the ULIP need to be reported on the parent's Schedule AL at the end of the tax year or would it be deemed a gift to the child? If the latter, is a gift deed required?
B. Are insurance companies required to report ULIPs on AIS/AS26? The question arises because ULIP is not a security like shares or mutual funds. If reported, would it be on the AIS of the parent's PAN, the child's PAN, or both?

I am about to buy property from NRI seller and have deducted TDS amount and deposited in advance but while filing form 27Q it was showing that i can file for latest Q3'24 instead of Q4'24 and the date i was filing form was 02 Feb 2025 . Now i have received notice Regular Statement filed is processed with defaults and / or PAN errors u/s 200A. Property registry is about to happen. Any help.

There is a case in which the deductor has revised the tds return before tds return has been processed and corrected the error. Now the deductor has received the notice to pay late fees along with additional late filing levy against processing of latest correction.

What could be the probable solution for the deductor party?

RERA Registration is mandatory for Rural Areas

An agricultural land of 3-5 acres was converted into DC Converted plots for sale for residential purposes.

Is it required to get Registration under the RERA Act.