I would like to get advice on the below mentioned point.
Company A has an investment with Company B. Both Company A & Company B have accumulated loss for the past years. Current year Company B done a valuation of company and the valuation shows 7times higher. According to that valuation of Company B, is it possible to increase the investment amount in the books of accounts of Company A thru FVOCI.
Please Advice - reply to nair_pandarathil68@yahoo.com

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one of the assessee filed his GSTR 3B for the period Jan 18 to Mar 18 as on 28.06.2019 i.e. after the end of the amnesty period on 31.03.19. The late fees was autopopulated in the portal and was charged from 01.04.2019 to the date of filing. Now the department had issued notices for short payment of late fees. what can be the course of action. Is the notice for Late fees payment correct.

Hi Expert,

One of our GTA vendor has issued invoices for this FY till Dec-23 under RCM & from Jan-23 onward he is issuing invoice under forward charge. Is there any provision to change from RCM to Forward Charge in between FY. ???

Please guide.

Mr A and Mrs A are husband and wife. Mr A and Mrs A purchased a house property in February for Rs 50 Lakhs. Rs 20 Lakhs were paid by Mr A from his bank account to seller, property dealer, stamp duty etc.
Mrs A sold some shares in June for Rs 50 Lakhs.
She repaid Rs 21 Lakhs to Mr A along with reasonable rate of interest (considering his initial contribution as loan).
Query Can the funding / payments done by Mr A on behalf of Mrs A for the purchase of house property fall under section 269SS. All the payments by Mr A were done thru proper banking channels on behalf of Mrs A and later refunded through her Bank Account to Mr A bank account along with interest.

Assessee is Partnership Firm,
Turnover is 1.5 cr,
Profit is 6.39% after partner's remuneration.
Cash Receipts and Cash Payment below 5%
they got a notice u/s 139(9) as defective return that books of accounts should be audited.

Please advise we require the books of accounts should be audited u/s 44ab

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My friend has paid the outstanding demand amount as notified by the Income Tax Department on 18 January, 2023 and the details are being shown correctly on the OLTA Challan Status enquiry site. He has paid the same through a friend's bank account who, in turn, has made online payment through State Bank of India and has obtained a taxpayer's counterfoil.

Now, my question is : From where do I download the Income Tax Challan paid as above mentioned to upload in the income tax e-filing site for response to outstanding demand ?