what is Gross Block in Fixed Assets.

what is operating profit and non operating profit
how to calculate it.

what is operating income and operating expenses
List of operating income and operating expenses.

what is net income and type of revenue as per schedule III of Balance sheet.

what is Gross profit , Net income and Net Loss as per schedule III also.

Sir, WHERE INCOME FROM SALARY OF A PERSON IS Rs1200000 & income from sale of equity(LTCG) IS Rs.125000, WHETHER ANY TAX LIABILITY WILL ARISE FOR AY 2026-27?

Hello Everyone,

I’m an NRI currently living in Australia. I have health insurance in India for my wife and child with NivaBupa. Recently I got to know that health insurance premium paid annually is GST exempt for NRIs. As part of renewal, I requested them to apply the GST exemption. But their final response is that the feature is not yet “live” in their internal systems for renewals in specific and that they’ll not be able to “facilitate”. They said that since GST is paid to Govt, I can claim it myself by contacting my tax consultant.

If I’m not wrong, GST unlike TDS is not paid against the PAN of the customer but GSTIN of their own business, as such it is their job to do, which is either take payment with GST or provide a refund by taking necessary documentation from me and their tax filing department to report this transaction to Govt as GST exempt. In fact, that is the process I follow for another term insurance plan with Tata AIA. So is there a way that a tax consultant can claim this GST that I paid as part of insurance renewal, during my year end tax filing (or any other time)? Please clarify.

Appreciate your response.

Sir,
I heard there is new update in GST in related to HSN Code (separate for b2b and bcs, and validation ) . I updated three file in GST R1 ,but no such change found and file is generated (I yet not submitted). I there is any change in GSRT1 for the month Jan24 onwards .My return is small scale business.
Please update
With Regards
Binu

Sir Please help ..

if i write like this agreement is made on 25.11.2024 between 1st and 2nd party that 2nd party will pay rent for ----- amount to first party ... from 01.04.2024 to 31.03.2025.

in this case my HRA will be calculated on the basis of my agreement date or my rental period.

A partner has 33% of shares in partnership firm and wants to transfer his total shares to his son, whether the transfer will be done just by admitting his son as new partner , or by way of gift