Please let me know if there is any penalty for late filing of nil income tax return (my proprietorship, business income is below tax slabs)... For ITR3

Is capital gain is chargeable on sale of land received as inam / nazarana as there is absence of cost of acquisition for the same...???

what part of form 15CA is applicable in case of amount transfer self account in foreign?

Dear Experts,
1 We would like to confirm that whether the following state/UT come under special category states or not? For GST Registration purposes
a. Telangana
b. Puducherry

2 Pls clarify.

Whether it is mandatory to fill in ITR the gift received and other exempted receipts like maturity-proceeds of LIC policies etc. ?

After contacting ICAI, I deleted form 112 because I wanted to change a a few details. Now form 112 is not showing up on my SSP, it has been almost 36hrs.
I right now have form 102 & 103 in pending stage.
Should I delete form 102 and start a new one. Form 102 is yet to be approved by my employer. If I delete form 102, how much time will it take to reappear on my ssp?

Sir, A supplier supplied books (GST Exempt) to a Govt. Department. What will be TDS rate at the time of payment and which section. Please guide me

Respected Experts,

Kindly clarify - while Calculating the Interest on Capital of Partners from which value we need to Calculate

Example: if Interest on Capital is 12%

Do we need to Calculate Interest Directly from Opening Balance of Capital

or Closing Balances ( as shown below)

Opening Balance of Partners: XXX Cr
Add: Partners Salary Payable: XXX Cr
Add: Share of Profit Payable: XXX Cr
Less: Salary paid XXX Dr
Less: Profit Paid XXX Dr
Less: Other Drawings by partners XXX Dr
Closing Balance XXX Cr
Add: 12 % Interest on Closing Balance XXX Cr

Now do we need to Calculate Interest on Capital from the ending balance as shown above

Kindly clarify

TDS u/s 194 Q to be charged on basic value or invoice value incl GST as per law..

Hello, could anyone help me in this query,

An Individual who runs a Proprietorship business started a Separate Private Limited Company as a Managing Director in which he invested Rs. 10 lakhs for new account opening of Private limited company as his part of his share capital. How to record the initial share investment made in following:

1) In the Books of Sole Proprietorship Accounts &
2 ) In the books of Private Limited Co. initial capital introduced by a Managing Director.

What are the accounting treatment & under which heads the respective accounts should be created.