Sir,

Can you guide me that suppose my pan card is in operative and my salary is more than 3 lacs then company can deducted tds on Salary @ 20% or not to deduct tds??

If company not deduct tds on my salary and my pan card is in operative and i also not file i. tax return then i. tax department can take against on me??

Hello could anyone please help me with the below query?

We collaborated with a subcontractor for a job, and on their behalf, we directly paid wages to their workers. Now, in light of this advance payment, we're considering issuing a debit note to the subcontractor. They will eventually invoice us for the full job work including GST. As of now, they've only invoiced us partially, with the rest to follow upon completion of the job. When preparing the debit note, should we include GST or not?

Sir/Madam

I have completed my Video of SET A for SPOM and continuing seeing Video of SET B. Can i appear in SET A exxam online??

After seeing all Video of SET B, I will appear in SET B!!! it is possible??

Please clarify

Sir,
I have sold a Non-agricultural plot in November 2023 and purchased an under construction flat in February 2024. The said flat was registered in February 2024 for full value of consideration. However, since the flat is under construction, payment schedule is divided in to 3 parts – 30%-30%-40%.
1. First installment was paid at the time of flat registration from the long-term capital gain earned on sale of plot.
2. Second installment is likely to be due in August 2024 depending on progress of the building project and will also be paid from the long-term capital gain earned on sale of plot. The entire capital gain earned on sale of plot will be exhausted at this stage.
3. Third installment will be paid out of personal savings.

Request your guidance on below,
I have paid only part of the long-term Capital gain in first installment before July 31, 2024, that is before filling of income tax return, then do I need to transfer the balance long-term capital gain in capital gain scheme account or I can keep on holding these sums in existing bank account till demand is made by the builder, since the purchase transaction at full value of consideration was completed in February 2024 only.

Respected Experts,

One Client approached me with a Intimation Notice of 143(1) with a Demand Raised for 88K pertaining to AY 2023-24.

Actually, the Client has filed an Original Return with 490K as Net Income and NIL Tax

Whereas while applying loan, the bank agents filed an Revised ITR with Tax Liability of 88K and Filed with Dummy Challan.


Now the Demand Raised for the 88K Tax Liability,

The Client doesnt aware of this and asked me to resolve the same.


I try to file an Updated Return U/s 139(8A) by reducing the Liability as Zero.

But the ITR Filing is not allowing me to file since the liability is less when compared to previous return.

My Question is;

Since the Client doesnt aware of this issue, kindly suggest how to resolve this.


Request your valuable advise

if necessary will provide the file and pay necessary fee.

thank you !

Dear Experts,
I have imported 4 items from China and availed GST Credit on Custom. Now, I have to replace one item. Here, Can I use LUT for Nil Rate of GST at the time of Export ?
Please guide...

I filed my March 2019 return in January 2021 and claimed ITC then. Now I have been issued a notice and I have been asked to return the ITC. Can I get any relief in this regard?

I received money along with my bothers sisters and uncles when property inherited by us from my paternal grandfather, was sold ten years before. my 1/12th share. (2 uncles and 2 siblings and mother). Rs.10 Lac was not given by the builder then and held back as security until premises made vacant by tenants. But builder lapsed on the agreement for ten years for lack of money . Now after raising a legal notice by us, he has agreed to restart the project and pay Rs. 10 lac withheld. I had disclosed the full amount before ten years in my IT return as Capital Gains. I had put the indexed amount under NHAI bonds for 5 years. This amount then included the INR Ten lac receivable now. So Should I now re-disclose this INR 10 Lac amount in FY 24-25 ?. Is it necessary?
In the meantime I lost my mother 2 years back. so her share of INR 10 Lac will be divided among her 3 children. So I will receive INR 10 lac/ 3 from my mothers bank account ,which is operable by my sister. how to treat this money in my return next year?
The builder will enter into a agreement now to give interest on INR 10 Lac for ten years (as per previous agreement) in the form of space of 100 sft. but again convert this 100 sft x Rate per square foot to INR and pay at the time of plinth may be 1.5 to 2 years hence to me (and all others as well) . How to treat this substantial money to tax then?

A trader in the market yard, dealing in cotton. He regularly pays GST under the Reverse Charge Mechanism (RCM) at the time of purchase in cash. However, for the financial year 2019-20, he did not report these transactions in GSTR-3B, specifically in sections 3.1(d) (as RCM outward supply) and 4(3) (as eligible ITC of RCM).

When filing GSTR-9, he discovered this error and consequently reported the transactions correctly in both the outward supply and ITC columns. He has now received a notice regarding the discrepancies between the
1 output liability declared in GSTR-9
2 GSTR-3B, the RCM liability on inward supply as per GSTR-9 and GSTR-3B,
3. And excess ITC availed as per GSTR-3B and GSTR-9.
The RCM tax amount has been counted three times and assessed as tax due.

This situation arose solely due to the non-reporting in GSTR-3B. Is there any remedy available according to the GST Act, or any relevant rulings or judgments that can support his position? Please suggest.

Hi there,
Can a partner retire and a new partner be added simultaneously in a registered partnership firm having 2 partners. If so, what is the procedure?