Sir,

We are required to obtain a TAN for the foundation. Under which category does the foundation fall, and what documents are required

what is place of supply in the case of Bill to and ship to for First and second supplier.

what is provision of
ineligible ITC under section 16(4) and ITC restricted due to POS provision.

I am seeking guidance on the potential tax implications for a property that is intended to be sold soon. The property, located in New Delhi, was inherited from my grandfather who passed away in 2016. After his demise, the property underwent a freehold conversion in December 2023 and was registered in my father’s name, who is 60 years old. We completed the necessary family agreements for the freehold conversion last year, with all siblings signing off.

We are currently looking for buyers, with an expected selling price of Rs. 85-90 lakhs. We aim to use the proceeds from this sale to purchase a residential property in Bengaluru. We are looking to understand the capital gains tax liability, considering it was inherited and only recently converted to freehold. The key points are:

- The property was originally purchased by my grandfather (exact purchase year and cost unknown).
- It was inherited by my father in 2016 but only transferred in his name in 2023 after conversion to freehold.
The expected sale year is 2025 after being in the family for an extended period.

Also, is there any circle rate of any area? That maximum price for which the flat is x lacs so is it true that one cannot sell the flat beyond that price?

We are interested in understanding potential tax exemptions or benefits associated with reinvesting the sale proceeds in another residential property.

Could you please advise on the anticipated calculation of capital gains, applicable tax exemptions, and any strategic advice on reinvestment for tax relief?

If I use a different bank for paying for imports from the bank whose AD code I have mentioned on ICEGATE, what will happen? What will the bank whose AD Code is mentioned on ICEGATE ask us to do? IDMPS related. The AD CODE BANK IS ASKING FOR REQUEST LETTER.

As per law, can a shareholder order company to pay his dividend to some other person

we are paying salary to worker around 2 crore for that we have hired one supervisor for arrangement of worker we are paying amount to that supervisor and supervisor paying that amount to different different worker on monthly basis as per their respective work. and we are also paying salary to that supervisor for worker arrangement.

Question is whether tds liability will arise on us for paying amount to supervisor ? if arise than under which section??

I had invested in NSC in 2020 which matured on 2/2/25. I didn't file ITR for AY 21-22 onwards till AY 24-25 as my tax liability were NIL for all those past five years including NSC interest on accrual basis and total income were below exemption limit. But for AY 25-26 I've to file ITR as I'm taxable. Now do I have to offer tax on NSC interest on accrual basis only for this year or on receipt basis on maturity interest for AY 25-26 this year ? Please help.
Thanks

is a doctor liable to deduct tds if he pays rent for his clinic?

Query: ITC Availed & Utilized on Supply from Non-Existent Firms
We had availed and utilized Input Tax Credit (ITC) on supplies made by non-existent firms. Before the issuance of the Show Cause Notice (SCN) under Section 74 of the Act, we voluntarily paid the full tax liability, partial interest, and a penalty at the rate of 15%. Subsequently, the SCN was issued, to which we duly furnished our reply.
Following this, a DRC-07 order has been issued, demanding interest under Section 50 and imposing a penalty equal to 100% of the tax amount. However, if the penalty is paid within 30 days of receiving the order, it is reduced to 50% of the tax amount.
Our queries are as follows:
1. Penalty Liability: Since we had already made a voluntary payment of penalty at 15% before the issuance of the SCN, are we still liable to pay an additional penalty of 50% of the tax amount as per the DRC-07 order? Or is our earlier payment sufficient to discharge the penalty liability?
2. Interest Calculation under Section 50:
o The transactions in question took place in May 2018, and the corresponding GSTR-3B was filed on July 20, 2018.
o The full tax liability was settled on September 15, 2021, through DRC-03.
o In this scenario, should the pending interest under Section 50 be calculated from July 20, 2018, to September 15, 2021 (i.e., until the date of tax payment)?
o Or will interest continue to accrue until the present date?
Kindly provide clarification on the above aspects.