Is there any update on rebate u/s 87a on STCG / LTCG for New tax regime. I heard it's available now.

If yes, shall we file revised or rectification return to claim back the demand paid?

Can we use voluntary tax given us 122 and us125 for output tax payment.Please advise how form drc03 is utilised for tax payments.

In previous year if we book expense as fixed assets how can we rectify in the current year? How can we book expense in income statement whole of fixed assets wrongly booked in previous year? ( also in the case of small remaining amount of fixed asset like Rs.350) Neither we can show 100% depreciation nor we can show it as disposal. If you have any solution please advice. Thanks in advance

Kidnly clarify the queries:

Is TDS required to be deducted in cases where 44AD / 44ADA is availed, where maintenance of books is not required?

Also is TDS required to be deducted on construction costs incurred by assessee? If yes, how will the disallowance apply, since this is not a revenue expenditure to make disallownce from profit?

CIT(A) HAS POWER TO VERIFY ADDITIONAL EVIDENCE PROVIDED UNDER SECTION 46A OR REMAND BACK CASE TO ASSESSING OFFFICER?

SIR
We purchase goods in August 22, and ITC Credit taken in August in Aug 22 gstrb,

Payment to Creditor was overdue above 180 days hence Credit taken in Aug 22 is reversal in the month of Feb 2023 under the head 4(b)(2) in GSTR 3B.

Payment made to Creditor in June 23 and Recredit taken in June 2023.

While filing the GSTR 9 for the F Y 22 23 What will be the effect of this transaction.

Thanks in Advance

I have 4158 shares of Tata Motors at an average price of Rs.940.31 per share purchased between April to June 2024. The stock is currently valued at Rs.722 per share. I am currently at a loss of more than Rs.9.06 Lakh. What am I supposed to do? Is there any hope for this Stock to recover? If Yes, expected duration for recovery?

INPUT CLAIMED AS PER 3B 15000
CURRENT FINANCIAL YEAR INWARD SUPPLIES ITC IS 13000
PREVIOUS YEAR ITC RS.2000
AS PER GSTR9 6A AVAILED THROUGH 3B IS 15000
AS PER GSTR9 6B INWARD SUPPLIES IS 13000
THE DIFFERENCE IS SHOWING -2000

AND THE SAME TIME GSTR9 8A AS PER GSTR2B IS 15000
GSTR9 8B AS PER TOTAL 6B 13000
THE DIFFERENCE IS SHOWING (+) 2000
IS THIS CORRECT OR NOT KINDLY EXPLAIN
PLEASE RESOLVE THIS ISSUE

We have sold the mhada flat after redevelop. Got possession in Feb,2023 & sell the same in June 2024 for Rs.1 cr. Purchase cost 0 (trf. Property after husband death to wife in 2008 & go under redevelop in 2009) Ghatkopar East Mumbai.

How much will be capital gain tax?

WHAT IF WE CLAIMED ITC OF 23-24 OF AMOUNT 1000 IN 24-25 AND WE REVERS THE AMOUNT 1000 IN 24-25
IN 8C IT WILL BE 0 OR IT WILL BE 1000
IN 12 IT WILL BE 1000
IN 13 IT WILL BE1000
THE AMOUNT AVAILED WILL BE 0 SO WE CAN SHOW 0 IN 8C OR WE HAVE BE SHOW 1000