Dear Sirs : One of my cliend purchased residential plot on June 2019 for Rs.28 lakhs and selling now for Rs.1.80 crores. As per new tax regime LTCG is Rs.1,52,00,000. Now he buys new property for Rs.50 lakhs and invest in bonds (lock in period) Rs.50 lakhs. Balance LTCG is now Rs.52 lakhs. My query is that can use the balance Rs.52 lakhs for other personal purposes, gifts etc after paying income tax of 12.5 % on Rs.52 lakhs... Kind regards

R/experts

We have issued Single Invoice for RCM payble on GTA service received during the Month on last date of Month. and make the payment to GTAs, GR wise on various date through Bank or Cash.

Our query is RCM self invoice to shown in which table of document table of GSTR-1 ?

Thanks

Dear Sir,
I'm filing ITR for first time for AY 25-26 and I've to file ITR 3. Since new regime is the default regime, can I still opt for old regime as I've substantial 80C deduction which I want to claim to reduce my taxes ?

Thanks

One of my client issues Cash memos against counter sales and Tax Invoices against B2B sales. Both having different serial number. Whether he is entitled to do so ?

Dear Sir,
Is it Compulsory to show of received Solar rooftop subsidy Rs.78000/- from government in ITR-3 (New Tax Regime) ? If Yes, then where to show of which schedule of ITR-3 form in income Or In Exemption income? and my second question is how can I show in ITR form, how I am senior citizen ? Or is it automatically by PAN Card ? I am 62 years old. and know me about tax slab rate for senior citizen of new tax regime for FY 2024-25.

Hi Sir,

I and my wife have jointly purchased a property worth 7391600 from one seller. While filling up form 26QB, it is giving me warning "Please provide proportionate share of stamp duty value." I am below values for both forms:
1. Total Value of Consideration (Property Value) = 3695800
2. Payment type = Lumpsum
3. Whether stamp duty value is higher than sale consideration ? - No
4. Amount paid/credited currently (B) = 3695800
5. Total stamp duty value of the property (C) =3695800
6. TDS Amount = 36958
The warning is not going away.
Could you please guide me what I am doing incorrectly to get this warning ?
Thanks in advance
Regards,
Vikas

Sir.
I heard about there is change in HSN code update in GST portal. B2B& B2C Separate update. During May25 we have also export sales.
Let's me know how update that exportsales in HSN area of portal.
With regards
Binu

If Mr. X Export Of Goods From India To Oman. Mr. X Received Ocean Freight Invoice Of USD. 800 From Mr. Y Which Are Located In Oman. The Freight Invoice Is Without GST. I Have Doubts Which Are Below

1) How To Pass Accounting Entry In Books
2) Can Mr. X Liable To Pay RCM On Ocean Freight.
3) If Mr. X Liable To Pay RCM On Freight Then What Is The RCM Rate ?
4) This Ocean Freight Invoice Treated As Import Of Service ?

Hi everyone,
I need some clarity on a TDS issue under section 194C for the financial year 2024-25.
A client made payments to a contractor as follows:
25,000 on 30th June 2024
25,000 on 30th September 2024
25,000 on 31st December 2024
and 35,000 on 15th March 2025

The total payment during the year comes to 1,10,000, which crosses the threshold limit of 1,00,000. u/s 194C TDS at 1% is being deducted on the full amount of 1,10,000 at the time of the last payment in March.

My question is — since the limit was crossed only at the time of the last payment and we are deducting TDS then, will interest under section 201(1A) be applicable for the earlier three payments?

Thanks in advance.

Dear Members,
Can we claim ITC on travelling expense, GST paid at 5%
If it is for business purpose?