Hello.

If a NRI has less than 10 lacs of income per annum in India but decides to sell his/her property with LTCG of more than 50 Lacs, how would he/she be taxed?

Would the income exceed the 50 lacs surcharge threshold in this case or LTCG would be separately taxed at 20% without including in the total income?

We have a Provisional Registration of form 10AC in Section 12 for A-Y 2024-25.
So will we be applicable to file form 10A before 31st March 2024 or after that.
When can we file it?

Date of Incorporation: 28/09/2012, a private limited company wants to increase its authorized capital. It has only hard copy of MOA. So how to get e-MOA and how to increase its authorized capital. Please share the details procedure.
Thank You.

Dear Experts,
One of my client wrong OTP composition dealer as on today. Now Client wish to in regular scheme. Now what to do in this case ?

I am buying an agricultural property owned by an NRI for an amount greather than 50 lakhs.
Should I pay TDS for the agricultural property considering it is owned by an NRI residing outside India for more than 180 days in a year ?

Dear Members,

I have a query for the facts as under:
# Return was Originaly filed within due date for AY 2018-19.
# Notice u/s 148 was issued on 11.05.2022 to file Revised Return, Return was filed with same figures as per the Original Return.
# Later Replied Filed for Notice u/s 142(1).
# Assessment Order passed u/s 147 rws 144B by Assessment Unit under Faceless Scrutiny and No Addition of Income was done.
# Income and Tax in the Computation Sheet as per the Order vis-a-vis Original/Revised Return are same.
# Credit of TDS and Advance Tax is properly given

But in the Computation Sheet for Order there is Interest u/s 234B and 234C shown as payable for an amount of Rs. 1,15,901/-. Though the Advance Tax was paid correctly (above 90%) and no default was there, still there is a demand of Interest.

Query:
What is the recourse for the Demand.. As there is no Addition of Income.. Can we file an Appeal in this matter ??
Request Guidance of Seniors and anybody aware of such a matter.

Thanking You.
Viral Vora
9702556399

Will deemed be attracted in the following arrangement:

A pvt ltd company transfers money in partnership firm as its capital contrirbution in the capacity as a partner and the same amount is withdrawn by another partner who is a director and shareholder in the said pvt ltd company.
But shareholding is less than 5%

If not deemed dividend, does any other provisions/consequences apply in the said arrangement?

In addition to grocery sale (Exempted) to his customers in his shop, my client also supply other hardware taxable goods to Village Panchayat. Whether ITC availed on purchase of such Taxable goods can be reversed proportionately against sale of grocery items (Exempted). ?

Dear sir,
We make advance payment to party for R & D Work what is the TDS Liability. & Also advice now the work is not suceed & paty denied to give a bill.
can we expense out our selves.
please, advice.

Hello I have queries regarding taxation on property.

In this financial year, bought an Under-construction property - joint ownership - home loan EMI ongoing.

1. Is the principal component of EMI deductible under 80C for under-construction or is it deductible after completion certificate in 5 installments like the interest component.

2. After discussing with the developer, the overall property value has decreased . However , since sale agreement was registered and subsequent TDS were paid on demands, what will happen to the remaining stamp duty (on which value will the rest stamp duty be charged on) and TDS correction in 26QB?