Dear Sir,

We have exported the goods to Korea, but they have done re-work on the goods we exported.
We are required to pay USD 32,400.00 for the rework charges now.
Can we deduct the TDS from this payment?

Thanks.

TRACES 26AS for AY 2024 to 25 correctly shows Tax Deducted at Source under section 192 deposited by TAN No. DELO02509D is Rs. 119080 and by TCS under section 206CL deposited by TAN No. DELC23000F is Rs.10040. This Tax total tax credit amounting to 1,19,080 and 10,040 totalling Rs. 129120 is correctly claimed in ITR2 for AY 2024 to 25. I have already filed rectification with return data correction on 04-02-2025 and still i have received the same demand outstanding. Kindly provide me assistance why my tax credit is being disallowed, inspite of entering the data correctly as per form 26AS.

As per the Gujarat VAT Act, do we need to refund VAT ITC or pay VAT due to excess or more than the admissible limit of evaporation loss on petrol/diesel?

Sir.
I heard new update in Income tax for small business group.
1. No income tax for income up to Rs. 12 lakhs under new tax regime.
our business turn over is around 1.75 crores . and 100% online fund transfer . taxable income comes (6%) 10.50 lakhs . in this case ,whether need to pay income tax .
2. turn over limit is increase from 2 crores to 3 crores .
is it correct .
Please advise
with regards
Binu

Sir,
I have purchased debt mutual fund in 2014 and want to sell(Redeem) in February 2025.)
What will be tax liability

Sir/Madam,
I have booked a flat in March 2024 and it is expected to be completed and registered in June 2026. I wish to sell my existing self-occupied house and expect some capital gain from the sale. What is the right time to sell this self-occupied house to save the likely capital gain?

Sir
One psu entered into two contacts first is off shore supply contract (pure supply contract) and import mandatory spare from foreign and contractor/company paid custom duty under project import with igst.
further company was entered into second separate contract civil contract with same firm.

Query-
(1) Can contactor eligible for itc of igst on project import under off shore supply contract?

I have purchased home with 2 co-owners. There is typo on first page where seller and buyer details are mentioned i.e. for 3rd Co-owner typo in PAN number - instead of 9, type 6.
However, we have submitted the PAN and Aadhaar copy and also done the Aadhaar verification. PAN and Aadhaar is also linked.

From contribution perspective, made contribution from the respective co-owners bank account and TDS also deducted accordingly.

Is there any impact from Incometax perspective? Do I need to do rectification? Please guide.

We have purchased flat @ 135,00,000 with 3 buyers with share 70%, 22% and 8%. Buyer-1 has major portion and taken loan however need to pay TDS before that. He has made payment in 2 instalments - (a) 5L on 11-Dec-2024 and (b) 28L on 3rd Feb and remaining through Loan. While making TDS payment - Payment Type is Instalment and Lumpsum.

In this scenario I have following options -
1) Payment Type: Instalment / Lumpsum
If Instalment selected then

2) Whether it is last Installment - Yes / No [In this scenario Loan amount considered as last or the 28L considered as last payment]
(Note: If yes selected then only it allows to enter Stamp duty value)

3) Total amount paid/ credited in previous installments, if any (A) * [What amount be entered]

4) Amount paid/credited currently (B) * [What amount to be entered]


I have issued cheque on 31st Jan and cleared on 3rd Feb so I need to enter 3rd Feb only right? Remaining payment made after TDS deduction so TDS deduction date will be 31st Jan or 3rd Feb. While deduction loan amount payment is also considered...

Request you to help here..

One Proprietary company provide security services to his clients and issue RCM invoice. And Proprietary company file GSTR -1 and select button( supply attract to reverse charge) in GSTR 1. Query is that anything else required to do compliance in our side