Hi CA club india experts,
i would like to know about my company is pvt ltd company and doing export business but i want to ask an question plus answer
one of my party giving me 10000USD dollar @80 rate on june 2024 and i have sell the container to my party final invoice 40000usd dollar @82 rate in September 2024 can i have to book the entry any foreign gain or loss entry in our books of account if partially advance received before selling the container if yes then in my mind confusion advance rate is locked system and no monetry item and we should not the bookd fx gain or loss entry in advance remittance m i ryt pls ela orate this issue as per law and
second scenerio is if remaining partial remmitance received in f.y. 2024-25 and balance remmitance received on after end of f.y. 24-25 then what we should have pass the fx gain or loss entry kindly suggest me for above two situation with real time example.
Thanks
Deepak

My STT-unpaid STCG is INR.18427, and my STT-paid STCG is INR. 72000. LTCG is INR(-)23000. Can I show the entire STCG as business income?. I have been a trader for the last 4 years.

If no, then do I still need to pay the advance at 20% tax on 15th March 2026 for the STT paid STCG of INR.72000, as I made above INR .10000 gains in this last quarter due to the rise in silver and gold? I did not anticipate this gain, so I did not pay any advance tax for three quarters. last 3 years' gains were below INR.10000.
I have a small professional income of INR 25000 under sec 44ADA. Please Advice.
Your advice was very helpful in my last ITR filing. Thanks in Advance.

Can a parnership firm insert a clause in its deed wherein it is stated that the Interest on Capital will be payable to the partners at rate not above 12% and the same shall only be payable on the opening credit capital balance of the partners.No interest shall be payable on the capital withdrawn or introduced during the Financial Year for which the Interest is to be calculated.

AO CAN RE-OPEN CASE ON BASIS OF CASH DEPOSIT?

At the time of online correction in TDS return Modify / Add deductee details, an error generate at the time of saving the correction, as below since last 10 to 15 days

System has encountered some technical problem. Please try after some time

An assessee does not own any residential house property on the date of transfer of a long-term capital asset (other than a residential house). The assessee proposes to purchase two residential house properties out of the capital gains.

In such a case, can the assessee claim exemption under Section 54F in respect of both the houses, or is the exemption restricted to investment in only one residential house?

Further, does the one-time option of investing in two houses (capital gains up to ₹2 crore) apply to Section 54F as well, or is it restricted only to Section 54?

Respected Sir,
Propert Value is 60,00,000

Buyer is 4
Seller is 2

While Filling Form 26QB in Column Total Value of Consideration (property Value ) is 60 Lakh or Proportionate Basis respect of One Seller i.e 7,50,000 Rs.

on You tube Channel Name CA GURUJi suggest TDS on full property value, while other professionals suggest proportionate value.
Kindly clarify the correct legal position

We Entered Full Value i.e. 60 Lakh So any notice Will be Received ?

Rent paid to NRI by individual tenant. Whether TAN number is to be obtained by Indian individual tenant ? As I know that there is no basic limit of rent paid to NRI . correct ?

Dear Sir/Ma'am,
This query is pertaining to AY 2024-25.
I had filed the return u/s139(1) under old regime where I had claimed 100% deduction for donation made to "The National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities constituted under sub-section (1) of section 3 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999". However, few days ago I have received an SMS alert from the income tax department saying that "Our records show that you claimed charitable/relief fund donation deductions in your AY 2024-25 ITR. However, based on the PAN you provided, the organisation you donated to may not be eligible for the deduction you claimed.

You need to update your ITR to either add the correct PAN or remove the deduction. To do this,visit https://www.incometax.gov.in. Once logged in, navigate to “e-File” → “File Income Tax Return → “Select Assessment Year” → “Select Filing Type” → choose “139(8A) - Updated Return” → “ Select ITR Type” → “Continue” and update section 80G/80GGC".
As per the provisions of section 80G, donation to the above entity is eligible for 100% deduction.
Now I am getting a tax payable along with interest u/234A, 234B and 234C to pay the tax on this donation amount.
Can anyone please guide me how to resolve this query.
Also is there any way in which I can verify the PAN of the Donee Entity.

A, B and C own a flat where major financing is done by A and around 25% is financed through loan from Bank by C. C has been paying the emi and loan is almost paid.
A expired 2 years ago. A had three legal heirs i.e. B D and E of which B is the joint owner as stated above.
Under the premises kindly advise on the treatment of sale proceeds to be distributed between B,C,D and E as also the TDS by Buyer?