Dear Sir / Madam,

I want to understand the taxation part in sale of business along with factory building and land.

M/s A, 30 year old a partnership firm, owns the factory building & land at Vashi and another Gala at Vikroli, Mumbai.

Now M/s A wants to wind up its business, which is not achieving break-even now and wants to sell the factory building & land at Vashi. They were claiming depreciation on factory building and gala. Land as such not shown separately in the balance sheet. They will continue with Gala, which is given on the rent.

I want to understand how this transaction will happen? What would the taxation?

Please guide me.

Regards,
Suraj

AI subscription paid in INR to foreign party.
Can tds liable. If yes in which sec. & percentage
Can gst rcm applicable

We want to strike off LLP. We have only one transaction that is sale of motor car and book loss in P & L in FY 25-26. In this scenario, shall we apply for Strike off in June 26 or we have to wait 1 year as there is rule for strike off after 1 year of ceased business.? Also Note that business activity is closed from last 3 years. No creditors and debtors are outstanding. we have applied for bank closer.

For AI subscription paid to foreign customer in In INR.
Can liable for tds payment. If yes what percentage and which section

Annual subscription paid for AI to foreign customer in INR.
Can TDS & gst rcm applicable

We had TDS liabilities pertaining to FY 2025–26 under Sections 194C, 194J, and 194T. However, while depositing the TDS, the payment was inadvertently made under FY 2026–27 instead of FY 2025–26.
Under the new Income-tax provisions, TDS for multiple sections is deposited through a single challan rather than separate section-wise challans.
We now intend to rectify the challan and align the payment with the correct financial year, i.e., FY 2025–26. In this context, we seek guidance on:
How the challan amount should be bifurcated among Sections 194C, 194J, and 194T for the purpose of filing a revised TDS return.

Dear Sir/Madam,
In case of Purchase Capital Goods.
Whether ITC calimed or Capitalized ?

Pls advice.

WE HAVE ONE FIXED LOCAL TRUCK OWNER FOR DELIVERING OUR GOODS. HE IS NOT TRANSPORTER. HE ONLY HAVE 2 TRUCK. WE PAID HIM AROUND 295000/- CHARGES IN PREVIOUS FINANCIAL YEAR. SO DO WE NEED TO DEDUCT TDS OR BECAUSE HE HAVE ONLY 2 TRUCK ..ITS EXEMPT.. PLEASE SUGGEST

My trust's due date for filing for renewal of 12A and 80G was Sep-2025. But we missed that due date. Now, I filed with condonation. The application was filed under section 332 only ( "354" & "'both" options were not showing). and now I want to file the application u/s 354 also. But this section is not showing. What must be done?

Dear Sir / Madam

Under Section 54F of the Income Tax Act, 1961, an assessee can claim exemption on long-term capital gains arising from the sale of assets other than a residential property. To avail this exemption, the assessee must invest the entire sale proceeds in a new residential house property, not just the capital gain.

In the present case, there is a long-term capital gain of ₹2.5 lakhs from the sale of long-term shares, with a total sale consideration of ₹10 lakhs. The assessee plans to purchase a new residential house property in FY 2026–27 for ₹1.5 crore, with possession expected to take at least three years.

Accordingly, he will deposit the sale consideration into the Capital Gains Scheme (CGS) account for later utilization.

My question is: Can the assessee avail long-term capital gain exemption on the sale of long-term shares in subsequent years as well, if he has LTCG in Year 2 and Year 3?

Regards,
Suraj