Mr X sold his house for 40 lakhs
after indexation (long term) he got 26 lakhs as capital gain
he wants to invest in new house
New house value 60 lakhs
bank agreed to give loan 48 lakhs and he will use 12 lakhs from capital gain amount

is he now eligible for Section 54 deduction in capital gain because he is using 12 lakhs only out of his gain 26 lakhs???

Please help with DCCO extension guildelines with COVID extension with examples

SUB: WHILE ANALYZING THE COMPARATIVE SGST DEPOSIT BY YOU/YOUR FIRM IN THE MONTHLY GST RETURN -3B RETURNS FOR UPTO THE MONTH OF OCTOBER OF THE FY 21-22 AND 2022-23, WE HAVE OBSERVED THAT THERE IS DEPRESSION IN SGST DEPOSIT BY YOU/YOUR FIRM BY -27% UPTO THE MONTH OF OCTOBER 2022 AS COMPARED TO UPTO OCTOBER,2021 OF LAST FY, WHICH IS AN ISSUE OF SERIOUS CONCERN.

SIR, REGARING ABOVE SAID MATTER, CAN ANY ONE SENT ME REPLY LETTER

Can a whole time Cs after his working hours provide consultancy or advisory on company law matters ?

Hey team,
I am an NRI and have professional income in India this year.
Since, 44ADA is not applicable to me, I want to claim deductions on my professional income (not more than 50%).

Is auditing also required along with bookkeeping in my case?

expenses made for petrol Rs. 6350/- and bill and voucher received for Rs. 6350/- But when I saw the credit card statement I found that Payment made against Rs. 6350/- ( Credit card payment Rs. 6424.93 and petrol surcharge waiver Rs. 63.61) My question is that i should Booked (6424.93-63.61)=6361.32 or Rs. 11.32 excess payment how to book in my books.
Or i should informed to party to revised the bill and send how much amount.

Dear Sir,

I have got an individual client whose turnover is Rs. 40 lacs from proprietory business but he wants to show profit of Rs. 12 lacs after deducting all expenses. His return is not filed under Presumptive Taxation scheme.

I want to know is there any minimum profit which needs to be kept in Balance sheet when return is not filed under Presumptive Taxation scheme.

Please help me in this matter.

Regards,
Divyesh Jain

RCM and TDS are applicable on school connect program invoice?

One of my clients is debiting legal expenses in the books of account of a Private Limited Company. They are showing an expenditure of about 5 to 6 lakhs every year. Fees are paid after deducting TDS and GST is paid on legal fees. The company has no case in court. These are paid for personal expenditure. In the computation of income tax, all these expenses are disallowed under section 37.

Now my question is whether there is any issue as per companies
act and income tax?

Please advice your valuable suggestion in above matter.

Thanks
N K

Intimation u/s 200A/206CB from TDSCPC:
Defaults and/ or PAN Errors have been identified in the Regular statement filed by you for Q2 of FY 2022-23 for Form 26Q and processed by ITD u/s 200A/ 206CB. Refer attached intimation for further details. Detailed computation of defaults is available in Justification Report which can be downloaded through TRACES.

What should I do on receipt of intimation u/s 200A/206CB from TDSCPC after generating the justification report from Traces (Late filing fee u/s 234E)? Please guide me. Is paying late filing fee through challan 281 enough or have to give any update in traces portal? Waiting for reply. Thanks a lot