Please guide me the procedure of resignation under CS longterm training.

One of my Client is holding Redeemable Preference Shares of IL&FS, which became bankrupt recently.

Face value per share Rs.7500/- Premium Rs.5000/- and Redemption date 16th May 2021. Number of shares-100. Issued in 2014.

One more lot of 100 preference shares of the same terms, redemption due in 2022.

As we know IL&FS has gone burst and will not honor the redemption commitment.

In this scenario, my question is :

1. whether the client can claim Long term capital loss in the absence of sale consideration ?

2. Which year can he claim the loss for redemption due in 2022.?

3. Is indexation benefit available

4. What proof has to be obtained in the absence of communication from the issuer with regard to dishonoring the redemption commitment.?

5. In ITR, under schedule CG where it should be shown ?

Pls Clarify
1.whether any person can make will with respect to Ancestral Property
2 . Whether a Ancestral Property , received by Coparcener in succession or Inherited by Coparcener can be bequeathed by Coparcener by way of Creating any WILL or CODICIL for making distribution arrangements after his death in favour of person who are not even a legal heir or linear descendants
Pls support your clarification with legal rules , judicial precedent or legislative enacted law

I have sold off my property and wish to invest in either property and/or equity and/or debt markets. Need to know my options with respect to Tax planning and Financial planning to optimize my investment. Need a trusted CA for discussion and help. Please help.

SIR WHEN IS INTEREST CHARGED on bills of exchange

A) FOR TENURE OF THE BILL
B)AFTER TENURE GETS OVER AND BILL IS NOT PAID ..INTEREST IS CHARGED AFTER DUE DTAE UNTILL PAYEMTN IS MADE
C)FROM DATE DRAWN TILL BILL PAID

Can we file ITR 4 for FY 2020-21 now ?

On behalf of my 25 year old nephew.

Work Experience Background:
Organisation ‘A’ – 1st Feb, 2017 to 28th Sep, 2018 (20 months) (First job)
Organisation ‘B’ – 1st Oct, 2018 to 15th June, 2020 (20.5 months)
Total Work Experience: 3 years and 4.5 months.

In June 2020, He was laid off from his company due to Covid’s direct impact on company’s operations and revenue. The company, on the work experience letter, refused to give this exact reason for termination. He has not been able to find a job ever since. His last EPF contribution was in July 2020. The balance in his EPF account is 4L+ (EPF+VPF).

His queries are as follows:
1. Since there is a tax liability on those who don’t work continuously for five consecutive years, what should be done with the money?
2. Is it best to withdraw it fully or let it be as he is still able to earn a high interest rate on the balance?
3. What will be his tax liability if he keeps it or withdraws it? If there is a tax liability, will it be on full 4L+ or just the interest earned (to be earned) in FY 2020-21? How does that work?
4. Will the account be dormant now (since it’s almost been a year since his last contribution) or will it be dormant after 36 months after his last contribution? (in his case, July 2023)
5. If there is a tax liability on full balance of 4L+ in this financial year and he doesn't see himself getting a job in the same industry for at least the next 3 months, what will the best way to reduce his tax liability? Can he invest 1,50,000/- in his active PPF account?

While doing with DSC we obtain signature fie but the moment we file zip file of TDS Return, a message appears on screen as below given below :

' PLEASE UPLOAD A VALID SIGNATURE FILE "

Please guide me and oblige.

Written down value of 4 machines at the beginning of the previous year 2019-20 forming part of block of assets carrying 15% rate of depreciation was Rs.6,00,000.

The following 3 machines of the same block were bought.

Machines Date of Purchase Date when put to use Cost (Rs.)
A 5.1.19 14.1.2020 50,000
B 5.4.19 15.5.19 1,00,000
C 15.5.19 31.1.2020 2,00,000

Four machines of this block (other than those which were acquired and put to use for less than 180 days) were sold for Rs.4,00,000. Calculate the depreciation for A.Y. 2020-21.

Sir my 04 clients has pending dues of Rs 01 Crore in one corporate company against the supplies made by them, the said company is under liquidation process in NCLT according to IBC 2016. The CIRP process is filed by Financial creditor and IRP was appointed by NCLT. My clients filed their claims to IRP, but the said IRP is not responding to the claims of my client.
My question is being the operational creditor, can my clients file the application to the said NCLT in ongoing CIRP.