22 May 2023 at 11:23

EPS contribution by employers


I have one query regarding contribution made by employer to NPS of Employees.

Please clarify foll. doubts-
> NPS contribution can be deposit by employer in NPS account created in one of the nationalized bank?
> Separate NPS account to be created in bank or nsdl for NPS Contribution to be deposit by employer??

thanks in advance.

Vikhas Ravi

Can anyone help in providing me the business code for Jewellery Hallmarking service while filing income tax return for the AY 2021-22.

Shalet Babu

When a sale of property is cancelled for which an advance amount was already given and the TDS corresponding to that amount also paid, should the 26QB be corrected first before applying for the TDS refund?

21 May 2023 at 19:36

Advance payment by an individual

advance payment by an individual,
whether should any treatment in books of accounts while finalization of books of accounts,
individual is not eligible to deduct TDS,


what is journal entry made in books of accounts of individual, HUF or LLP
of bonus shares received, and whether entry shall be made for record date.

Manish Jain

In past years, I had capital loses and also set-off them partially last year.

What is the accurate way to find out pending capital loss that I can set-off this year.


Dear Sir,
In June 2021 (F.Y. 2021-22) the assesse purchased a property under section 54 of the Income Tax Act, 1961 so as to avail the exemption from long term capital gain tax on transfer of long term capital asset. However the property was purchased in the name of the grandson and not in the name of assesse. Grandson showed it as land received as gift from grandmother (assesse) in his books of account in the F.Y. 2021-22 however no gift deed was executed. In Jan 2023 (Previous F.Y. 2022-23) the assesse died and the grandson on whose name the property is purchased by the assesse in June 2021(F.Y. 2021-22) wants to sell this property in July 2023 (i.e. after 2 years of purchase in current F.Y. 2023-24).

Question 1 – Kindly suggest the correct accounting treatment:-
Option A - Whether the above accounting treatment done by the grandson in his books of account in the F.Y. 2021-22 was correct?
Option B - Whether the land purchased even in the name of grandson should have been shown in the books of assesse only in the F.Y. 2021-22 and the same should have been shown as inherited property in the books of grandson in the previous F.Y. 2022-23 on the demise of the assesse?

Question 2 – The gain arising on the sale of property by grandson in future month July 2023 (i.e. after 2 years of purchase of property) will be termed as short term capital gain or long term capital gain?

Question 3 – If the answer to question no. 2 is long term capital gain than whether the grandson is eligible to claim exemption u/s 54 if he further purchases a new land from the proceeds of capital gain arising from the sale of property(shown as received land as gift from grandmother in F.Y. 2021-22) as the property which he selling though was purchased in his name however not even a single penny was spent by him for its purchase whole of the amount was spent by the deceased assesse only i.e. if the gain is long term capital gain arising from the sale of property not purchased from own money than whether this gain is eligible for claiming exemption u/s 54.

Question 4 – The sale of property by the grandson (which was purchased under section 54 by the assesse in the name of grandson) within 3 years of purchase whether will be termed as contravention of section 54 i.e. transfer of land purchased under section 54 within 3 years of its purchase. So in this case whether the grandson will be liable to pay short term capital gain tax as the assesse who had spent the amount for purchase of this land under section 54 has been died or whether there will be no tax implications in the hands of the grandson. The computation of short term capital gain u/s 54 will be done by deducting the capital gain claimed as exempt under section 54 from the cost of acquisition of the land purchased under section 54.
If possible, I humbly request to please provide the relevant provision or case law used as a basis to provide the answers for my query.

Shruti Agarwal

20 May 2023 at 13:53

Under which Head in tally

I have purchased a door barrier security of Rs. 45000/- in the name of the company. Right now which head I put the item in tally prime. Please help


while booking purchase /sale of shares expenses
for purchasing of shares add the expenses ,
while selling of shares less the expenses.
like GST, Transaction charges, STT, Stamp Duty Charges and SEBI Charges.
is correct way to book expenses.


what is time frame to declare of dividend by a company.
some cases I found that company issue dividend,
Quarterly, Half yearly and Annually.
when company issue dividend
Quarterly, Half Yearly and Annually.

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