Stamp duty paid on delivery of import goods comes under which head direct or indirect ?

Hi Expert
I have one case where purchase consideration is being paid in installments, First Installments was made on 15 Nov 23 and buyer is forgot to deduct TDS,

Although he deducted the total TDS on 2nd installments on 15 Feb 24 (including previous TDS amt).

My question is , whether Buyer has to file 2 form 26QB like first is of Nov 23 and 2nd is of Feb 24 or
Buyer can report in single form 26QB.

if buyer goes with first option then he also have to pay interest + penalty of Rs 200 per day from 30 Dec to till date max up to TDS amt.

In my opinion we can pay interest of TDS that was not deducted in first installments and file single form 26QB , Please correct me if i am wrong.

Please advise

Regards
Deepak

what are the consequence if we forget to show gift received from relative at the time of ITR Filing ?
and also it is mandatory to prepare GIFT Deed on stamp paper ???

Hi Sir,

Does dental check-up come under preventive health check-up, and can it be claimed under Section 80D?

Thank in Advance

Please let me know whether TAX on RCM paid is expense or Asset. Please me know how to pass the entry in books of account.

Prakash Menon
Accountant

Our company is into providing transportation services and we are registered under GTA service (FCM),for providing such services to customer.

Fleet (Commercial Vehicle) are being purchased on regular basis to provide services to customer.

We provide both Taxable as well as Exempt Services to Customers, input credit on Capital, Operational and Overhead Purchases is being claimed on the basis of Revenue Ratio which is result of both Taxable and Exempt Services.

In case of Operational and Overhead Purchases we reverse input credit in the same month on the basis of Ratio.

However, In the case of Capital Purchases we follow the 60 months rules provided in the GST for input credit.

We have taken 100% input credit on the purchases of commercial vehicles ,since we are providing both taxable and exempt services the input credit availed on these purchases is being reversed in 60 months as per the rules laid in GST for availing input credit on capital purchases

Now our company is providing 100% Taxable Services which means we no longer providing any Exempt services.

Here my question is that till date we were reversing the Input credit availed on capex purchase on the basis of 60 month rules, going forward do we need to reverse balance input credit availed on capex purchase without waiting for 60 months ? Note still we are using these vehicles for commercial purpose.

For Example- we have purchased Vehicle in Sept-2018 (FY 2018-2019) 100% ITC availed and follow process of Reversed Credit as per revenue ration in next 60 Month . Now Current year FY 2023-2024 is 100% taxable services. can we need to reserved ITC on the same pls advice on the same .

Assessee has sold residential property during FY 23-24.
From the sale proceeds, he has purchased a new residential property during FY 23-24, but the property is purchased in the name of his son, (son is non-resident).

Is the assessee eligible to claim Capital Gain Exemption? If not, what are the options available to claim the exemption?

Please clarify with applicable section.

Thank you

A PHYSIOTHERAPIST WHO IS QUALIFIED DIPLOMA HOLDER OF PHYSIOTHERAPIST IN DR.MGR UNIVERSITY AND WHO IS IN PRACTICE AS A PHYSIOTHERAPIST. I WANT TO KNOW HE CAN OFFER HIS INCOME UNDER 44ADA. WHETHER HE IS COVERED UNDER SECTION 44AA

Respected Colleagues
If Person GST registration and having Export of IT services to foreign country in AY 2023-24 of Rs 25 Lakhs but now in AY 2024-25 Export of IT services to foreign country is only Rs 11 lakhs till march till date.

My query is GST registration is still mandatory to continue even below threshold limit of Rs 20 lakhs???
Or We eligible to cancel from immediate effect?

Received a SCN U/S.74 dt.14.12.2023 for FY 2017-18 disallowing ITC on purchase of cement and MS rods. Although cement and ms rods were sold by us and outpaid paid on the same. How to proceed into the matter ? Is the said SCN issued within limitation period ?