A company (100% export unit) X is holding land ( NA) which is excess and intent to sale or lease to subsidiary company.
Subsidiary company also 100% export unit .
Question is whether excess land sale or lease ?
Implication:
(1) Lesser: lease charges earned will be text in income tex which is higher than lessee
(2) . On lease charges GST will applicable ? If yes lessee can get set off or refund ?
(3) Incase of sale :
3.1 Capital gain earned to lesser company income tax will exempt or tax payable ( land purchase 2021)
3.2 Appx stamp duty and registration charges of sale deed is Rs…….. appx
3.2 Lease period is 9 years.
3.3 Lessee company is going to construct building on that land.
4: Any other direct / indirect expenses

My employer ( Gujarat University) is seeking recovery for the the one wrong increament which they gave me in 2007. Through out these years University has deducted the income tax (TDS) for the payment they made as salary. Since the income tax has been paid on the amount University is asking for recovery how do I claim the income tax refund for the amount which I have to pay to my employer (Gujarat University)

A commercial invoice was prepared in Zoho Books FOR USD 35000 without a CIF amount.

Later the invoice was revised manually and edited by adding the CIF SAY 45000 (35000 + 10000) and accordingly it was submitted and Shipping Bill was generated.

Subsequently, it was noticed during a test check that the value has not been revised in Zoho Books with the CIF amount.

Since it was noticed almost after 6 months in the same financial year. How do we account for that in Zoho books.

I AM A SALARIED PERSON FILED MY RETURN IN OLD REGIME IN ORIGINAL BEFORE THE DUE DATE U/S 139(1) THEN AFTER I REVISED MY RETURN IN NEW REGIME BEFORE 31.12.2022 BUT THEY HAVE NOT ACCEPTED MY REVISED RETURN IN NEW REGIME. IS IT CORRECT TO OPT FOR NEW REGIME IN REVISED RETURN.

Hello, Can a Trustee on a Family Trust give gifts to the same Trust? Trustee is not on the beneficiary list. Please clarify. Thanks.

We have purchased one ups With Batteries and
Ups GST rate @ 18%
Batteries rate @28%
Can we avail the ITC on the above
Request for advise

Pl clarify
1.whether cost of purchase/ development for indexation can include periodic property taxes paid till disposal.
2. Whether only capital gains can be invested in capital gains account with bank before due date for filing IT return by the seller individual.( i.e, before 31st July)

An office premise was purchased by a partnership firm consisting of 3 partners (later 1 new partner had joined). After some years, the partnership was dissolved mutually and it was agreed that 1 of the original partners would continue business under the same name at the said office premise acquired previously as a proprietorship concern i.e he would take that property as his share of the partnership business – A Deed of Dissolution was made and signed by all partners agreeing to this.

No registration in the land revenues was done for the same and for about 30-35 years the business continued as proprietary concern. Recently, on death of the said proprietor, the legal heir has applied for transfer of office in his name (under Probate of High Court) but the society lawyer has contended that office has not been registered in the name of the continuing partner post dissolution which is required to be done now.

He has suggested to do the registration at the current date by paying full stamp duty @ 6% on the current market value as per ready reckoner rate and post that go for transfer under Probate of Will. Kindly help as on reading of various cases I have found that registration, transfer, stamp duty is not required separately on dissolution of partnership firm even where immovable properties are involved.

Thanks!

Dear Sir

Proprietor withdraw some money from bank ( Current account ) by ATM for personal need and some business purpose Can he withdrawal cash by ATM Card any problem face in future please suggest

During FY 17-18, we paid Excess outward Tax liability and we are not able to adjust in subsequent returns taken as ITC in 3B of Sep 2018. we have all the support and we have on the opinion that there was no loss to the revenue, except the procedural laps

Can anyone suggest how to overcome this situation..