A Person has two residential House properties. In 2020, He Sold one House Property and utilized the proceed to reconstruct/Rebuilt the Second House. Whether the person can claim the expenditure for construction can be claimed as exemption under section 54?

Hi, we have a gold jewellery shop since 20 years, we had opted for composition scheme since gst came in 2017, want to change to regular. Do we have to pay gst on the stock held by us on the closing date? Are there any hidden charges while going to regular?

Respected Sir,

Q-4 Fy 2019-20 the TDS Challan Amount was Rs 10,000 out of which 9,000
has been credited to the deductees but the balance amount as of Rs
1,000 has mistakenly been shown in the column of “ OTHER “ . Can we
make online correction by making zero in the column of “ OTHER so that
there should arrive balance amount of Rs 1,000 against the challan for
using in future

Hi,
We purchased a property from an NRI. He had applied for a lower TDS certificate - which he received on 29 Sept (with rate of 0.01%). The certificate reads that it is applicable for all the transactions from 29 Sept 2021 to 31 March 2022. We had made a payment to them in August as well as on 15 September 2021. Should the TDS be deducted at 0.01% or the applicable TDS rate.

We are family of 3 my parents and myself being the MD ....having our own company...can we transfer our individual properties to company....if yes..
what is the procedure.....who will hv the hold on properties........

Dear Expert,
We made a sale to a party belonging to Chennai of Rs 2lac and according made an e- way bill and we despatch the material to party and currently the material is in transit.Further we notice that we mistakenly punched wrong rate and invoice should be of Rs 3.5 lac. now what should we do for 1.5lac whose material has been despatch?
Can we do this?
For 1.5 lac can we raise debit note so that party will be debited for total 3 lakh and no need to issue E-way bil against debit note as material has already been despatch?
Is it legally right?
Please reply it's urgent.

While file my last GSTR3B, One GTA bill entered on section

"(d) Inward supplies (liable to reverse charge)" in the tab

"3.1 Details of Outward Supplies and inward supplies liable to reverse charge"

[Taxable value 3760 and integrated Tax 188.]

and the same IGST amount 188 entered on the section

"(3) Inward supplies liable to reverse charge (other than 1 & 2 above)"

"Tables 4(A)(1), (3), (4), (5) and 4(B)(2) are auto-drafted based on the values in GSTR-2B."
[IGST 188]

at the same time system generated a warning message like

The information entered by you is at variance with the auto-populated data in table 4A. The input tax credit has been auto-populated on the basis of the GSTR-2B generated for you. Also, please note that any variance above 5% of the input tax credit is in contravention to Rule 36(4) of the CGST Rules, 2017.

how can claim the GTA credit in GSTR3B

Dear Experts.
I am looking to buy a house and register it for 57 lacs, I am contributing 7lacs and Bank is funding 50 lacs.
I would like to add My mother as co-buyer , though she has no income and not contributing to the purchase.
All the Payments have been done from my account , except for 1 lacs Cash payment.

1. Do I need to fill 2 Form 26Q in this case for the 1% TDS for my PAN and mother's PAN
2. Can I deposit the TDS amount 100 % from my PAN number and seller PAN number alone.
3. Would this create any compliance issue for my Mother as she would mention her PAN number too in the Sale deed.
Kindly advise at the earliest..

Our Company Sells to NDFC companies . This Sale is not backed by any Bank guarantee of Hypothecation agreement. In such a case for classification whether this can be considered Secured . As RBI has said they will support the NBFC to protect from liquidation. Further will the position become different if we take a hypothecation agreement from the NBFC based on which we classify as secured

Sir I want to know in case of a party who was covered under TDS Provision of Section 194Q, I have purchased goods for resale and also purchase for own use (such as expense or asset). Whether TDS Under section 194Q applicable for both the transaction or only to the purchase transaction.