* Builder originally sold the property to Buyer A for 1 Cr.
* Out of which 80 lakh has already been paid, and 20 lakh is still payable to the builder at possession.
* During construction, Buyer A sold the property to Buyer B for 1.50 Cr.
* Buyer B has paid 1.30 Cr to Buyer A, while the remaining 20 lakh will liable to pay directly to the builder at possession.

My query is

1. For Form 141, the sale consideration between A and B should be reported as 1.50 Cr right?
2. If 1.50 Cr is the consideration, what should i mention the transaction as lumpsum or installment? Because only 1.30 Cr is currently paid to A and Buyer B eventually pays the remaining 20 lakh directly to the builder at the time of possession.

If mark it as a lumpsum then sales consideration and amount paid won’t be matching..

If mark it as a instalment then it should be first installment i guess, but for subsequent payment PAN number of deductee will get change.. will it allow me to file the TDS form with different PAN number?

RESPECTED SIR

OURS IS A PVT LTD COMPANY TODAY IS 2ND OCTOBER 2026 WE HAVE NOT YET APPOINTED THE AUDITOR FOR THE YEAR ENDING MARCH 27 IS THERE AN AMPLE TIME TO APPOINT THE AUDITOR FOR THE YEAR ENDING MARCH 2027. IS THERE A DUE DATE FOR SUCH AN APPOINTMENT.

WITH KINDEST REGARDS

I have undisclosed account in ICBC bank China with around 21960 CNY since 2018 and currently it could be dormant. It was opened anticipating some potential business but not materialized due to COVID etc. However, now received SMS from IT system to utilize FAST DS26 scheme till Dec26. I have checked in compliance portal and see the account reflecting with balance of 21850 CNY and interest of around 110CNY for CY 2022 & 2023 ie total of around Rs 314,500. I have accepted the amounts in compliance portal. Now my query is should I utilize the FAST DS26 and pay Rs 189000 ie 60% of total balance as tax or will the Rs 20 lakh immunity protect me from 120% levy if I dont avail the scheme. I will have to consider the entire amount as income as the current account is dormant, i dont have any bank statements as of now and will not be able to show source etc as is very old and not sure if ICBC will share statements without reactivation of account etc. The deposits was by way of sale of samples I was carrying during that time. I have been resident all through. Please advise.

I want to start industrial trading business in Mumbai.
Tell me basic procedure

Dear Experts
I had salary and business income in FY 2023-24, so I filed ITR4 and submitted form 10IEA for opting old regime .
In FY 2024-25, I had only salary income. So I opted new regime without submitting form 10IEA.
In FY 2025-26, I had salary and business income again. So I filed ITR4 continuing new regime as I opted it last year. But income tax department now seeking a clarification for not submitting form 10IEA again this year. They are saying that this year income will be treated as per old regime since business income is there.
I am hopefully looking for your kind advice about how to respond to this query.

A proprietorship is engaged in transportation business and owns 8 heavy goods vehicles, each having 25-ton GVW, owned throughout the year.

Turnover: ₹3.50 crore

100% receipts through digital/banking channels

Profit declared: 3% = ₹10.50 lakh

44AE presumptive income: 8 × 25 tons × ₹1,000 × 12 months = ₹24 lakh

Since the assessee declares income lower than the amount prescribed u/s 44AE, is tax audit u/s 44AB(c) mandatory?

Also, considering that turnover is below ₹10 crore and cash receipts/payments are within 5%, would 44AB(a) apply, or is 44AB(c) the correct clause?

sir,
i have sold goods but invoice not issued because our accountant was absent gst officer visited and impose tax and penalty and same has been paid through drc-03 before scn.how to show this is books of account.should i issue invoice for the goods sold?please clear this puzzle

1) prepared an Excel bank entries template
2) created all required ledger accounts in Tally
3) created Tally mapping template in Tally
4) imported all bank entries into Tally successfully
5) when Alt+R is pressed unreconciled bank entries should be seen. but they are not seen.
6) therefore, manual bank reconciliation cannot be done
7) Tally shows them a "Available only in books"

Kindly suggest a solution to this issue. Thanks!

I have a taxable turnover of Rs. 97,00,000/- for the month of August 2026, which is an intra-state supply taxable at 18% GST. Under the current GST rules including Section 49, Rule 86B, and Rule 87, how much tax am I required to pay in cash and how much can be adjusted against Input Tax Credit (ITC)? Kindly clarify the applicability of the 1% minimum cash payment rule in my case.

Hello Experts -

This is a question from a lay person regading the recently (CG-DL-E-15082026-275490) introduced FAST-DS 2026 scheme.
Here it mentions that any money paid by a declarant via the scheme (fee/penalty etc for disclosure) is non refundable, cant be set off etc.
Question:
For person declaring a bank a/c under this scheme, the requiement is 'Sum of all deposits'. A person who had this a/c a decade ago was informed by the foreign bank that the retention policy meant that the statements are only available after 2018.
The rules just ask for supporting documentation but theres no room for variation when reporting 'sum of all deposit' for bank account, an alternative was not provided in the rules. (though it was provided during a similar scheme in 2015) ie, Question 5. https://www.incometaxindia.gov.in/documents/d/guest/circular15_2015-pdf

Main part -
SInce there's no refund, & no mention of a provision/mechanism (like e-campaign for taxes) for a declarant to answer queries that the dept might have about a declaration made by a person., the person has no alternative but to declare pay the amount and then hope it is approved (since there;s no mention of 'Best estimate' alternate for 'sum of all deposits' like the scheme in 2015)?
From the way it is framed (atleast to a lay person) it looks like there's no support or explanation mechanism mentioned in the scheme for edge cases, so after paying the dialog is closed and if it is rejected for whatever reason, the person filing wont know the reason and most importantly the money will be lost.
Can an expert or someone who is reasonably familiar with law-speak please reply if this is as rigid and recourseless as it appears to be.

Thanks in advance for your expertise