I, have purchase a flat in April 2018 at Rs. 40,11,150/- (as per deed) and also paid GST extra @12% i.e. Rs.4,81,338.00 (have GST Invoices to prove). Now, in April 2025 I have sold the above flat at Rs.62,85,400/- (as per deed). Please help me in calculating the LTCG on the above property with both the methods (i.e. 12.5% without indexation & 20% with indexation) and also clarify how to save applicable LTCG on the above.

One of my clients is a YouTuber earning income via Google AdSense. He has filed LUT under GST and receives income primarily from viewers in the USA. He has submitted Form W-8BEN, so YouTube deducts 15% US withholding tax on gross earnings.

Example:
MONTHLY AdSense income = $10,000
US withholding tax @15% = $1,500
Net remittance = $8,500 → Credited in INR (e.g., @ Rs.100/$ For simplicity) = Rs. 8,50,000

Doubt: How should this income be reported in ITR & GST returns?

Approach 1 (Which I think is correct):

Report gross income (i.e., $10,000 = Rs. 10,00,000) in GST returns, converted at the RBI reference rate/date of remittance.

Similarly, report gross receipts in ITR and compute net profit accordingly.
Then File Form 67 and claim Foreign tax credit u/s 90 for 15% US tax deducted by youtube.

Approach 2:

Report only net amount received (i.e., Rs. 8,50,000) in both GST & ITR.

Ignore the 15% US tax for Indian reporting.

The goal here is not to claim any refund but to follow the legally correct and compliant approach, just to ensure proper treatment. Kindly advise which approach is correct with respect to Indian GST & Income Tax law.

hello
one my client was carried business up to FY 2012-13 and registered as huf on income tax portal and having TAN No. and filed TDS and income tax return regularly after that there was no business and was defunct and filed NIL return now he is carrying business again on the same PAN and TAN no. FY 2024-25 so is he required to deduct TDS if he is having TAN No. or required to check P.Y turnover which does not exceed 1 crore.

My query is if I have taken voluntary TAN no. and filed tds return is required to deduct tds life time or check every year for limit of TDS applicability
clarify

Dear Sir,

Commission Agent can file Itr-4 or any other itr-1-2-3.

My query :-

If I have sold a residential property in a certain FY & have deposited the capital gain amount in the capital gain account scheme within the stipulated time period, for example :- deposition was made on 30th May, 2023 & my deposit shall be maturing on 29th May, 2025 i.e. after two years as prescribed by Income Tax Act, 1961.

Then whether I'll get a period of 60 days from the date of maturity or withdrawal (whichever is earlier) in order to purchase the new residential house property by transferring the above deposited amount to the seller of the new residential property at the time of registration of the property.

Kindly assist me by replying to my query asap.

Sir,

In books of Account we have Fixed Assets balance Rs.144000/- ( Air Conditioner 34500/- Car 85600/- and Machinery Rs.23900/-) We have Sale Car Rs.94400/- and pass the entry in books of Acccount . Cr. Car Rs.85600/-Cr. Profit from Fixed Assets Rs.8800/- Dr. bank Account. Rs 94400/-

Please suggest about In ITR-3 Deprecation Seclude i have to Reduce Value of Rs.85600/- Correct or Wrong. If i reduce Rs.94400/- it will also reduce Ac and Machinery Cost.
so please suggest 85600/- OR 94400/-

Is compensation received from electricity transmission company for installation of High tension lines in an agriculture land taxable? According to me it should be a capital receipt and not taxable. Your views with any specific judgement will be highly appreciated.

Dear Experts,
Tds deposit date is 7th of Next Month, In which section or rule of Income tax, it has reference......... let me know the reference of relevant section or rule.

Thanks
ASAP

Someone please suggest
Sir,
During previous years, as per google, if someone had taken loan from a bank against property, he was allowed a deduction of 1.50 lakh per year which includes principal +interest+ registration and stamp duty paid. Is it correct? If not, then what was the deductions allowed.
Thanks

One of my client having Property in his name. He wants to take a rent in his HUF. So can he take rent in HUF as he is the karta of HUF or he has to make a gift deed on his HUF Name ? Please suggest