Dear Sir,
As per Section 12AB of Income Tax Act, 1961, every trust or Institution which are already in existence will have to mandatorily renew the certificate granted under section 80G latest by 31st December 2020.
In Form 10A (available on-line) details of renewal of 80G are not there.
Please guide us in which Form number we have to apply for renewal the certificate granted under section 80G. Is it available on-line?
Regards,
K M Goyal

A Became owner of property in April 1996
A died 14.01.2018 living behind legal heir wife two sons and daughter
Both sons and daughter Relinquished their rights in favour of mother on 30.01.2018.
Therefor mother become sole and absolute owner of the property.
Mother sold the Property on 10.09.2020
Question? Whether it’s a long-term capital gain or short-term capital gain

One of my has business model, where he received 100% advance for services to be rendered.
now the same is shown in GSTR 1, as advance received and tax is paid on the same correctly as per TOS rules.
The same is shown as sales and advance adjusted in month when the services is completed and invoice is raised.

Now, in auto-popluated 3B the difference of inter-state advances and advance adjusted is getting populated in table 3.2 : under "Supplies made to Unregistered persons". is this correct or there is some error?

all the advances received are from registered person.

We had started a Finance business (company incorporated) last year .
My self and my friend are the two directors. Now we have decided to discontinue our business.

what is the procedure for winding up of the company.
How long is the process for winding up and how and when we as directors of the company can take back our money

Kindly advice

Thanks

Dear Sir,
A Individual filled his IT in 44AA for the past 2 year Ass yr 2018-19 & 2019-20.
Can he fill IT in 44AB in Ass yr 20-21 . If so what will be consequence. Please clarify
Thanks

My company received an advance for some work. The payment was made to me after TDS deduction. TDS return has also been filed by the paying company. Now I am returning the money as I could not complete the job. The paying company is asking for full refund also the money which they have deducted as TDS. I am asking them to revise their return and utilize the same with their future transactions with some other payments. They are denying.
Please advice can tds return can be revised ?

i have a query about unsecured loan that one person say. mr. A has received unsecured loan of rs. 300000/- from another person (not being relative) say Mr. B. after that Mr. B has been passed away. How to settle that Unsecured loan amount in the books of Mr. A???? What is the Taxability in hand of both Person????

Dear Sir,

I am having 2 types of Income i.e. Contract Income of Rs. 15 lacs on which TDS is deducted @ 1% and Professional Income of Rs. 3 lacs which I receive for providing various taxation and other consultancy services. On this professional income no tds gets deducted but I have to show in Balance sheet as my income.

I wanted to know will there be any query raised by Income tax department in future if I show 2 types of Income in my file and whether it is now right if I file the return U/s. 44AD as I used to do it previously when I was having only Contract income.

My total turnover doesn't exceed Rs. 20 lacs in the entire financial year.

Please suggest me in this matter as I have to still file my return for F.Y. 2019-20.

Regards,
Divyesh Jain

i am filled ITR F Y 2017-18 and 2018-19 form ITR 3 but i want now i fill ITR form 4 any problem if i am filled ITR form 4 FY 2019-20 . if i fill ITR 4 now income tax department send me notice ? please help me about my above problem.

GST had been paid on long term lease of land on RCM basis. Later the deal got cancelled. 75% of lease premium paid at the time of lease agreement has been refunded back. The Lessor has filed a credit note in GST return which is showing under Credit note section in GSTR 3B and in Reverse charge- Credit Notes in GSTR 2B. If I reverse the amount of credit note at the time filing GSTR 3B, the balance in the Electronic Credit Ledger will get reduced by the credit note amount. What will happen to this amount, will it be refunded or transferred to the electronic cash ledger?