Just a general query,
Suppose X purchases a fixed asset of Rs 1 Lakh in cash on 01/04/2024 , If he makes payment of whole 1 Lakh on 01/04/2024 Section 43(1) will attract & Cost of acquisition will be treated as NIL but what if he pays Rs 10000 each day from 02/04/2024 to 11/04/2024 will Rs. 100000 be treated as cost of acquisition then?

Someone is Resident but not ordinary Resident and he is not having any income from india and currently residing in US. he has a property in India. My query is whether he is required to file any return in india to show the property and if yes then which ITR should he file ?

I was earlier filing share trading activities as STCG or LTCG earlier as applicable. But since last two years I am doing share trading as full time activity and have frequent transactions (Intraday/FnO/cash positional/long term). As per my knowledge. I have to show FnO trading as Business income. But Can I show my cash trading activities as Business income and not as STCG/LTCG. ( since I can claim expenses if I show as Business income and as individual tax payer, I have to pay tax as per individual tax slab) I have read somewhere that if I shown cash segment trading as STCG/LTCG earlier, I cannot change it to Business income. Please guide

How to calculate Capital Gain on sale of unlisted share
long term capital Gain
short Term Capital Gain

what is difference between current Liabilities and sundry creditors.

We will be providing Manpower Services i.e. 3rd Party staff and billing will be monthly for processing the staff salaries for company which deal in delivery of Fruits and vegetables

My question is whether our services will fall under exempt or nil rated under GST and gst should not be charged on bills raised by us ?

Dear Expert,

Our client Purchase Land(NA) for Rs. 5cr from a seller Mr A and Mrs. B (50%share Each). and Requested to credit amount in Mr. A Bank A/c.

I have a Querry
Should i deduct TDS @1% on 5cr on Mr. A PAN
or
Deduct 1% TDS on 2.5cr each for Mr A & Mrs. B PAN
Kindly Help

Residential Real Estate Project:
Tri-party Agreement (Parties Involved: Landowner, Developer, and Construction Company)
The construction company raises bills to the developer with GST. Both the construction company and the developer are registered dealers.
The total construction area is shared as follows: 75% by the developer and 25% by the landowner.
Now, the landowner receives 25% of the constructed area as his share for providing the land for the project.
Question No:1
If the landowner sells the houses during construction (before obtaining completion certificate) and gives the power to the developer, then the developer receives the amount on behalf of the landowner and hands over the amount to the landowner after deducting the GST amount.
Here, we have a doubt regarding whether the landowner needs to take the required registration certificate under the GST Act and to pay GST or not necessary.
Question No: 2
For the development rights, we understand that GST is to be paid under the reverse charge mechanism (RCM) at the time of completion of the houses and handover to the landowner. However, in the situation mentioned above (where the houses belong to the landowner’s share), if the houses are sold during the construction period, what will be the taxability of the development rights, and at what rate GST to be charged? Who is liable to pay the tax? Whether developer have to raise a bill for the development rights apart from regular bills for constructed appartments (25 share) to the landlord.
In the above situation, the GST is payable at what percentage, when to pay, and who is liable to pay?
1. For development rights
2. For the transfer of completed houses
3. For houses sold during the under-construction period
Our Assumptions:
For the development rights, the developer raises a bill to the landowner and pays RCM @ 18% on the value of the houses (completed houses) at the time of handing over the houses to the landowner. During the handover of the houses, the developer raises bills to the landowner and collects 1% or 5% of the value of the houses. Is it correct?

if an assessee wishes to opt out of presumptive (44AD) to regular books after filing in presumptive for 4 years
Query 1: Is he liable for tax audit even though declaring higher income than presumptive in 5th year?
Query 2: If we file a tax audit return for this financial year, should we file tax audit return for successive years also even though the turnover is lesser than the tax audit limit?

Can Legal Name and Trade Name be different for a Partnership Firm ?? What documents are needed in that case.