Hello All,

Our company which is a proprietorship, to close the business is selling its stock to the newly formed pvt. ltd co. ( the proprietor is the director of the new co ) also money is being transferred to the newly co. to meet its expenses. How it should be shown in the books of the new co.

Is it valid in the law of income tax to do so ...., if not then what are the consequences.

please can anyone help me

An inherited property (which was purchased in 1964) was sold by 6 brothers/persons on 20.12.2022 worth Rs. 1 Cr. One of them received Rs. 2000000/- by a/c payee cheque as full and final settlement. How to work out Capital gain or loss for the current A.Y. 2023-24 for IT return. (Know CII for F.Y. 2001-02 = 100 and CII for the F.Y.2022-23 is 331). Kindly let me know your valuable direction for the matter cited above. Regards, Tarak Kumar Roy, West Bengal.

The bank account is Validated and EVC Enabled on income tax portal. It has also been enabled for Refund nomination.

However it shows "Restricted refund" in bank account details displayed in profile on income tax portal.

1) What is the meaning of "Restricted refund" ?

2) Can this bank account be used for claiming refund?

3) what can be done to enable the refund on this account?

Dear Sir,

While opening of Form 26AS I'm not able to open the Form 26AS instead I'm getting the message as follows, "Due to large size of Annual Tax Statement/Form 26AS, this request can only be processed on-demand. Please login to TRACES and submit download request for Annual Tax Statement/Form 26AS which would be made available to you in text format. If you have not yet registered on TRACES, please register by clicking on 'Register as New User' on TRACES home page and selecting type of user as 'Tax Payer', kindly advice.

Warm Regards

sir.
How to treat Income tax of firm, and sole property ship. whether it is an expenses or partners withdrawal . Last year income tax 2.5 lakhs paid during 22-23 year. but income tax is calculated u/s44AD 6%. Please advise

Dear Sir,

We have apply GST registration and upload the documents electricity bill of owner and rent agreement ( in Punjabi) now gst officer issued show case notice.

1
State specific information- State specific information others (please specifiy) please upload any other documentary proof of ownership of premises which should be in English/ Hindi.
Please upload the picture of the premises with the signboard and the applicants.
Please upload the valid rent dead.

We already uploaded the rent agreement but due to Punjabi language he was asking again so make rent dead in English.

Please advise

MR A. HAD NOT PAID GST TAX AMOUNTING RS. 10000 TILL TAX AUDIT & THE FILING OF INCOME TAX RETURN OF A.Y. 2018-19 AND SO THE SAME HAS BEEN DISALLOWED U/S 43B .

IN A.Y. 20-21 MR A. HAD PAID THE TAX BUT HOWEVER NOT ALLOWED BY IT DEPT. AND RECEIVED DEMAND AGAINST IT. NOW SHOULD MR A. NEED TO RECTIFY HIS RETURN OF NEED TO REVISE HIS TAX AUDIT ?

IS STITCHING INCOME BUSINESS INCOME OR PROFETION INCOME AS PER INCOME TAX ACTS ?
WHAT IS BUSINESS/ PROFETION CODE OF TAIRING/STITCHING INCOME ?

i have applied for new gst no.but officer rejected with reason date of pan creation is not available.some one advice to apply for new pan card with same pan no.and i do this but still date of pan creation is not available.what to do please advice me

I HAVE BEEN USING CERTAIN TOOLS OF USA LIKE SLACK, CLICKUP WHICH ARE USED FOR COMMUNICATION AND PROJECT MANAGEMENT TOOLS. NO IP IS TRANSFERED TO MY ORGANISATION, THEY HAVE BEEN DEDUCTING AMOUNT ON MONTHLY BASIS IN US DOLLARS FROM MY CREDIT CARD. ALL THOSE AMOUNT ARE BELOW $ 100. WHETHER THIS IS LIABLE TO TDS AS WE USING TOOLS WHICH ARE LOCATED OUTSIDE INDIA AND NO IP IS TRANSFERED TO US. WHETHER FORM 15CA IS APPLICABLE FOR SUCH PAYMENTS.