I invested 1.5 lakh in FY 2023-24, in FY 2024-25 after holding more than a year, I redeem them with profit of 46,000. Now when I check it in MFcentral.com it shows the gain under STCG. International funds redemption and tax calculation is little bit different.
My question is will this be part of my short term equity gain(as mention in mfcentral) or will be considered as short term gain under debt funds? In case of debt fund. will this get added to my taxable income or there will be any fixed tax rate (percentage) applicable on this redemption.

Dear Sirs,

We seek your clarification regarding issuance of a credit note under GST for AMC services.

The original tax invoice for AMC services was issued on 30.04.2025. We are now proposing to issue a credit note towards AMC / warranty-related cost adjustment.

Our understanding is that, under GST provisions, a credit note may be issued beyond six months of the invoice date, subject to the time limit prescribed under Section 34 of the CGST Act (i.e., up to 30th November following the end of the relevant financial year or the date of filing of the annual return, whichever is earlier).

However, we would like to confirm whether:

A GST credit note can be issued for the above transaction at this stage, and

Whether GST adjustment is permissible in case the credit note pertains to warranty / AMC-related cost.

Dear Sir,

We have one Private Limited Company. Once the Director is also a shareholder in the company and has 50% shares in the company. The director has given a loan to the company for business. The same loan has been reported in DTP-3 with ROC and in the Financials of the company, which disclosed with Income tax . The amount is around 1.50 crore.

Now the company is not in position to repay it and want to write of this amount in company's financial.
so My questions are :
1. What would be tax treatment in company . If this will treated under other income , and company have profit .... this profit can adjust against past carried forward loss ?
2. Director can claim it as business loss or capital loss in his personal tax return ?
3. If Director having other income during the years ....the business loss or capital Investment loss can be adjust again other income ? and can save tax ?

Request you please advise in this matter .

Best Regards
Girish Limbachiya

If more than 1 buyer in property purchase than what will be total sale Consideration amount in 26QB of each buyer total 60,00,000 property cost
same ratio 33.33 of partner

Dear sir/s, we hereby need your suggestion for applicability of Income Tax TCS on export services, one of my client is hired his Tipper to foreign company Bhutan, is the services applicable for any TDS/TCS under Income Tax Act, kindly inform me.

Thanking you sir,

we are doing the business of fireworks industries and we have received a notice from GST department for Inspection disputes regarding. we have purchase one fireworks industries under 'LEASE' terms from January 2021 and amount was paid to them. In our Profit & Loss account Taxable turnover reported for Rs.93.00 lakhs and the same was reported in GSTR1 & 3B also. But at the time of Inspection our bank statement showing from January 2021 to March 2021 credit side balance on Rs.26.00 lakhs only. Now the department issue the notice for Bank statement-Rs.26.00 lakhs + P&L Turnover-Rs.93.00 lakhs +Reported turnover in GSTR Returns-Rs.109.74 lakhs (including Tax).Department asking the difference for excess reporting of Rs.83.74 lakhs (Rs.109.74-Rs.26.00 lakhs).Now how can we reply and prove of excess reported turnover issues to the department.

ITR 2-Return Filed on 20.7.2025 for F.Y. 2024-25. On portal find that return is not processed, not even showing as processing. Had filed much earlier in month of July and excess advance tax paid pending to be received. What is the time line to process. Can we write/ remind to department to process and refund excess advance tax paid. It is a simple return filed for the Dividend and Interest Income. No deductions are claimed. There is no Mismatch with respect to TDS.

Thanks in advance

Hi everyone,

I’m trying to amend Form 26QB on the TRACES website and running into a strange issue.

• I submit the amendment request.
• I get a confirmation saying the request has been successfully submitted.
• When I check the Request Status after about 10–15 minutes, it shows “Declined.”
• The PAN and Acknowledgement Number entered are correct.

This is happening for multiple Form 26QB filings that were filed incorrectly and now need amendments.

I’m trying to understand:
• What are the common reasons for an amendment request getting declined after successful submission?
• Is this usually due to a validation issue, timing issue, or a known TRACES system bug?
• Are there any specific checks or prerequisites I should verify before re-submitting?
• Is there a recommended workaround, like waiting longer, re-filing at a certain time, or using a different correction type?

Any guidance from someone who has dealt with this recently would be really helpful.

Thanks in advance.

We are registered GTA. We had opted RCM form 2017-18 to 2022-23. Now we are under GST assessment for the period 2021-22. Now the officials are asking us to prove that our service receivers have paid Tax under RCM against our invoices. From few we were able to receive the confirmation letter who were still our clients. But from those to whom we have provided services once or twice and in some cases the concerned staff have already left their job, we are not able to get the confirmation. Now the assessing officer is asking to pay the tax amount with interest and penalty. We explained him about the difficulties and reasons behind it. But no use. Today we received the order also. Please advice us regarding how we can proceed further with it

I have an app on Play Store, admob/adsense revenue 19.80L do I need GST registration?
I have filled ITR under ITR 4 as 44AD and chosen business type other services any problem?