We Bought a residential plot for which we made a booking on *Jan 2021* along with an advance of 10% payment.

We got allotment letter on May 2021 clearly indicating plot number and everything in detail.
We got registered sale agreement in August 2021 for the property.
Later we kept on making payments as per schedule and got registry done in OCT 2023.

We got possession letter on OCT 2023.

Now in March 2024 we want to sell that plot which is a part of plotted development, as it is without construction will it qualify as STCG on sale or LTCG.

Please give your opinion.

We are seeing on internet that new income tax rule coming that if payment is not made with in 45 days it will be added to income .what is this?

Sir
Mid-Day Meal is supplied to students of elementary level by Mid-Day Meal suppliers, Meal is supplied as per rate fixed by the Government. For example, the rate fixed per student is Rs 12 / per day. The supplier supplies food at the rate of twelve rupees per student on each day. It is a no-profit activity. However, when the payment is made to the supplier at the end of the month towards the supply of mid-day meals, my office has been directed to deduct tax from the amount to be paid to the supplier. My question is -- Since the supplier has not earned any profit in the entire process of supplying meals, is he required to pay tax ????

AN ASSESSEE CONTRIBUTES TOWARDS PENSIONER NATIONAL HEALTH INSURANCE SCHEME & ALSO PENSIONER FAMILY SECURITY FUND . I WANT TO KNOW TAX BENEFITS OF THOSE CONTRIBUTION FOR ASST YEAR 2024-25

Mr A is an individual below 60
He has opted for the old regime
He is a non govt employee (presently working with employer 2)

income/amount received details for FY 23-24

salary from employer 1 (govt)-4 lakhs
gratuity from employer 1-50000
el encashment from employer 1-50000

salary from employer 2 (non govt)-7 lakhs
Reimbursement of hospitalization expenses received from employer 2- 25 lakhs

Deductions available

Standard Deduction 50000
80 C 1.5 Lakhs
Joint home loan-total yearly interest for FY 23-24 is 3 lacs
Home ownership Share - 60% Mr A and the remaining share pertains to his spouse
Joint Loan Share -40% Mr A and the remaining share pertains to his spouse

Based on the above mentioned details what is the Taxable income of Mr A for the FY 23-24 ?

Suppose, during F.Y. 2023-24
Mr. A(Turnover>Rs. 10 Crore in F.Y. 2022-23) purchased goods from Mr. B(assuming GST exempt goods) on following dates:-

02.06.2023 Rs. 12 Lacs
21.10.2023 Rs. 20 Lacs
06.11.2023 Rs. ( 9 Lacs) (Purchase Returns)
28.11.2023 Rs. 25 Lacs

Would Section 194Q apply in the above case?

In my opinion, it will not apply as Rs. 50 lacs amount not crossed for the aggregate value of goods. Please guide

Can a partnership firm declaring profit as per section 44ADA claim deduction of remuneration paid to partners as per section 40(A) from the presumptive profit as per section 44ADA. Because as per section 44ADA clause 2 say all deductions available from sec 30 to 38 are deemed to have been allowed and section 40(A) is outside it?
Kindly provide the reference section/circular/notification or case law for the basis of the reply please
Thank in advance.

Whether an investor invests in capital market in equities,bonds,mutual funds,sip etc where no selling during the financial year,only investment, as a salaried person which ITR should file?

Trader are eligible in section 43B(h).

sir

i have two questions

For a Director of a Pvt Ltd Co.The company takes a car loan for the Director.It is used for both official purposes.The EMI is paid by the company.Is the interest paid by the company considered a perquisite for the Director?If so what are the income tax implications

Do u have any site or reading material where it is possible to understand which are treated as taxable perquistes as per the IT act.
thanks and Regards