Hi sir/ mam
Please clarify my doubt regarding AS18
1. Is Subsidiary's Associate is Related party the Reporting entity (i.e Holding company of Subsidiary) ?
2. Is Associate's subsidiary is related to to Reporting entity ( i.e investing entity)
3. Is subsidiary's or Associates JV is Related Party to the reporting entity?
Thankyou

What will be the tally entry for GST ITC Payment done under appeal ? & Under Which Head Duties & Taxes or Indirect Expense >

Please elaborate with example regarding the exchange of immovable property between two parties (not related to each other) without consideration. How the capital gain is calculated for each party and role of Section 56(2)(x). Please enlighten

Sir/ Madam,

Kindly guide me on filing Form CHG 1 with ROC after 120 days.

Thank You

Respected Sir,
My son, NRI has booked a flat in Hyderabad with a reputed builder. In the next 3 months, builder may offer possession. However, there is a provision in the agreement that if any one who booked flat wishes to re-assign, transfer his booking to other person before registration, he can do so by paying certain fee.
Point is that: while booking, more equity is invested apart from a portion of loan from a Public Sector Bank. For example-50 lakhs is equity, 40 lakhs is loan. Now, the offer from a prospective buyer is for 180 lakhs. Out of which 40 lakhs will go towards bank loan. Balance will be paid the existing flat holder either thru cheque or RTGS or so.. I would like to know, how the difference amount of 90 lakhs will be treated as per the ITax and Capital gains tax guidelines. Please guide. In this case, it is transferring the booked flat in the books of the builder prior to registration and hence, no transfer of capital asset.

Hi Team,

I have one of my clients who had written wrong TAN Number while claiming TDS for the AY 2020-21 of Rs 43000. Now the Form 26AS shows the same amount of TDS but with another TAN Number. The Client was issued Demand Notice of Rs 56000 for which we responded that the same is due to error back in 2022 but the same was never closed by IT Department.It might be due to the fact that no rectification / revised return was filed for the same.

Now every year when his refund is due, IT Department tells us that it will be adjusting the same against the outstanding demand which is not correct.

Please advise us what we can do in such a case as in my opinion Due Date for filing revised return is also finished for the said year.

With Regards,
Manik

RESPECTED SIR

I WANT TO KNOW ABOUT LAST DATE OF AUDIT REPORT (BALANCE SHEET) SUBMITING FOR F.Y. 2023-2024

DEAR SIR,
I HAVE CLAIMED WRONG INPUT IN MARCH2024 AS 1 PARTY HAS FILED GSTR-1 WRONGLY WITH MY GST NO.I FOUND THIS MISTAKE IN JULY2024 AND PARTY HAS RECTIFIED THIS MISTAKE IN GSTR-1 BUT SAME IS NOT REFLECTING ANYWHERE IN MY 2A/2B OF MY GST NO
PLEASE ADVICE ME

for example I am dealer of Manufacturer and at the end of month or year I have sold wastage of raw material as an sale of scarp should I collect the TCS on the sale of scrap of Raw material or sale of scrap of finished goods?

My friend and I are planning to start selling on Amazon, and we need a GSTIN number to proceed. We're considering using one of our personal PAN numbers to obtain the GSTIN. However, we don't have a dedicated office space, so we're wondering if we can use our home address for verification purposes. Additionally, we're concerned about whether a physical verification of the address will be required. If we use a personal PAN card instead of a firm's PAN card, what impact will this have on our tax filing? Please provide us some guidance on this.