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uma sharma

If i have purchased goods of rs 100 + gst 18 = 118 , my supplier allow me to sell at cost and reimburse me the the profit of 10 rs in each sale .
The reimbursement of rs 10 is shown as direct income or indirect (treating it as incentive) income tax and also suggest me gst implications from my side on this 10 rs.
If i treat it as direct income my income tax liability is lower . If i treat it as indirect my income tax liability would be highr


Respected All Experts,

I want to know about tax liability on received of Rs. 9 Lakh of my share in my Bank account from sale of inherited property ( Father) which total cost of sale was Rs. 45 Lakh in Financial year 2020-2021. I am salaried person and i filed ITR-1 in financial year 2020-2021 only for salary income. I have not mentioned in ITR about received amount of Rs. 9 Lakh which was also showing in 26AS. I continued filed ITR-1 for salary for the financial year 2021-2022 and 2022-2023 regularly.

Now in Financial year 2023-2024 I purchase a flat of Rs. 28 lakh in March,2024 from Builder but possession of flat will be in june,2024.

(1) My query is to know about any tax liability arise due to not include income of sale of inherited property (father) in ITR of F.Y. 2020-2021 ?
(2) Second How I treat this Income received in F.Y. 2020-2021 in Current financial year 2023-2024 which ITR to be file in July,2024 ?

Thanks & Regards,


vijay shekhawat

tds deducted during the March24 and what the tds deposited due date for that

23 March 2024 at 10:22

Help with PAN application documents

I applied for a foreign national PAN card through NSDL website and sent a copy of physical documents through post. I received an email stating
'Acknowledgement receipt has not been signed by the applicant.
We request you to Kindly submit specimen signature of the Applicant on a separate paper.'
I signed in an A4 size paper and mentioned my acknowledgement number as well. Yesterday I received the same email again.
My query is
How do I correctly submit my specimen signature?

Jagadish T G

Dear Experts...
I have a query that one seller not linked his PAN to Aadhaar.

But buyer does not aware of this PAN inoperative, deducted 1% TDS on immovable property paid and filed 26QB now buyer got demand notice of balance 19% (20% for inoperative; 1% - already deducted)
now my query is seller now linked his PAN to aadhaar.

How to clear this demand? Kindly help me.

San Gai
04 March 2024 at 19:59

Is LTCG double taxed?

I have Shares LTCG of RS 2 lakh. That means LTCG tax would be 10% of (2 lakh - 1 lakh) = RS 10000
My query is does LTCG goes through double tax i.e. LTCG Tax and Income Tax as per slab rate.

kollipara sundaraiah

A RTP maintained a pharmacy Stores turnover rs:1.50 crores yearly regular scheme in gst act.
Dealer purchase of medicines credit based payments msme provision sec 43(b) applicable.


Hi, This is regarding opinion on the eligibility of taxable exemption against the DA on Business trip.
One of our member went for business trip for a week to Germany and in between he went to personal trip
spend amount on air ticket from the portion of DA amount
Now requesting to exempt the same air ticket amount considering part of business trip.
would the personal trip can be considered part of business trip and provide exemption- Request conclusive opinion.


22 December 2023 at 17:47

26-QB TDS on Property Sale

Hi, I purchased a property for 60 lacs. However, I mistakenly put 50 lacs are sale consideration and made 1% TDS on lumpsum basis. Can I file a new 26 QB for the balance amount. And what payment type should I select- Lumpsum or installment, for the balance payment.

Ajay Kumar Gupta
06 December 2023 at 16:06

TDS on Purchase of Flat

I am filling form 26QB for TDS on sale of property. I am individual and purchased flat from Godrej (Company). While filling form 26QB it is automatic taking major head as 20 (Companies) instead of 21 (Other than companies). Please guide what to do.