One of our client having GST registration no., purchase goods from Unregistered suppliers and want to sale the same materials without GST to unregistered buyers. Is it possible ?

Dear Sir,
We are consisting of five brothers made joint agreement with the developer for developing our 200 years ANCESTRAL PROPERTY and accordingly the developer agreed to pay lump sum amount in 3 instalment and the developer already paid adhoc payment on a equal ratio i.e. 5 lac each of the co-sharer and accordingly they are invested such amount in PM Barista yojana plan in Bank, remaining 2 instalment are yet to pay and the developer also agreed after completion of the project 5 flats also be distributed among them.
Now our query is whether capital gain will raise in near future for receiving adhoc payment and flat from developer? and if yes ,what is the procedure to calculate of Capital gain if occurs or to get rid of capital gain on development of ancestral property .Please reply
Thanks
Buddha deb Das

Read more at: https://www.caclubindia.com/experts/ask_query.asp property measuring 6

Hi, ITR was filled by clicking pay later and post submission immediately paid challan.. Received demand notice to pay tax. Mistakenly selected demand is correct and attached challan of tax paid. Now it is showing to pay tax along with interest. Raised grievance, they asked to file revised return if challan is reflecting in 26AS. tried to revise the return but even in return due to system error it is showing interest payable post paying complete tax within due dates. Please suggest

Sir,

During the financial year 2021-22, I have paid Rs. 250000 as professional tax to the panchayath by cash as they were not accepting payments other than cash mode. Whether this expense was allowable under the provisions of income tax act. Whether this payment covers under provisions of Rule 6DD. Please clarify sir?

Dear Sir/Madame:
1. Is it Compulsory to Register a Partnership firm with Registrar of Firms(ROF)?
2. GSTN is asking for a receipt or a certificate of Regn. from ROF citing issues of legality in case of GST tax demand; Is this correct?
3. Firm not regd. with ROF. What would be the penalty if registered nw (per day/ month/ year)?

Kindly Advise. Help Appreciated.

Dear Experts,

I need some help on filing rectification for AY21-22. I have recently received a notice for demand under section 156, which needs to be responded within 30 days.

Earlier, I had filed rectification in the incorrect section "Tax credit mismatch" instead of "correction of details and therefore could not update details of my tax payment and requisite challan.

This tax was actually paid within a few days of filing the original return for AY21-22 but is not showing in the return

Please advice on how I should update this tax demand and requisite challan no. in the revised rectification, which I intend to file now.

Also, is there any mail id where notice for incorrect demand can be replied to, as they do-not reply to any grievances.

Thanks a lot.

if domestic co having no turnover, due date was 30.sep 2022 right?
so this 7th nov 2022 is only for inc tax auditees right? not company law auditees, right?

If GTA Servise Provider has not issued Bilty or Consignment note to URD Person but Transporting Freight received in Bank or by Cash. In this case a GST officer what penalty can levy to GTA Service Provider. Is any way to avoid from such penalty ? Please answer.
Thanks & Regards

Sir/Madam, Happy Diwali. A client is in GST REGULAR QUARTERLY SCHEME.He has submitted his April 22-June22 GSTR1 & GSTR3B As Nil return. But he has forgotten that, he has a Purchase Bill of April-june22 quarter. Now , can he claim the ITC of April -june22 Purchase Bill in this July-sept22 quarter? ? please answer.

I have already filed original return u/s 139(1) for AY 2020-21 before due date.
I forgot to mention some income from Other-Source (Savings bank interest) in original return.
So Now if I want to do updated return u/s 139(8a),
In this case the fees u/s 234 series will be calculated on total tax (the one paid in original return and default tax ) ? or it is calculated only on the defaulted tax amount (after deducting TDS and Advance tax payed during original ITR filing)?
Please give an example if possible

Do you also help with filing ITR-Update u/s 139(8a) for AY 2020-21 (FY 2019-20)?
Thank you