Mr. A started transport business and purchased 3 trucks in the FY 2024-25. Invoice date of Truck 1 is 7.8.2024, invoice date of Truck 2 is 31.8.24 and invoice date of Truck 3 is 28.8.24. Registration date ( RC date ) of Truck 1 is 16.11.2024, registration date of Truck 2 is 22.11.2024 and registration date of truck 3 is 27.01.2025. My question is that for the purpose of presumptive taxation u/s 44AE what is the no of month owned the vehicle ? Whether no of month calculated from invoice date or from registration date.

Dear Sir/Madam,

I seek your kind guidance on the following GST-related queries:

Threshold Limit Calculation:
Is the GST threshold limit (₹20 lakhs for services and ₹40 lakhs for goods) determined based on the aggregate turnover within a particular financial year, or does it include the cumulative turnover of the entity across multiple financial years?

Taxable Turnover Upon Exceeding Threshold:
In the event that the aggregate turnover crosses the applicable threshold limit in a financial year, will GST be applicable on:
a) The entire turnover in that relevant financial year, or
b) Only the turnover in excess of the threshold limit?

I would appreciate your expert advice on the above queries for better compliance.

Thank you in advance.

Warm regards,

WHETHER TDS ON PROPERTY CAN BE PAID THROUGH CHEQUE? IF YES,THEN HOW TO GENERATE CHALLAN?

Dear Sir,
Mr. A is a resident and liable to deduct TDS u/s 194M
Mr. A given a contract to Mr. B for house construction of Rs. 88.00 Lacs on Nov-2024.
Mr. A paid of Rs. 62.00 Lacs to Mr. B in FY 2024-25 and deduct TDS @2% u/s 194M.
Now
Mr. A paid balance payment to Mr. B of Rs. 26.00 Lacs as full & final in April 2025.
TDS deduct or not in balance payment of Rs. 26.00 Lacs as per 194M
due to Payment year change.

Dear All

Can I transfer GST -Electronic Credit ledger balance -Cess to CGST and SGST ledger ?

Thanks in advance

Respected Sir / Mam
We are trying to file appeal form 35, getting error "Error: Please click on My Profile in the note given below to update your contact details with all mandatory fields".

We updated all contact details in profile. but still getting this kind of error. We are not able to complete the form 35 without basic information. Please do the needful.

today is a last date to file form 35 appeal. please help me in this regard.

Sir.
Me and my brother start partnership business5 year back .worked 1.5 and disconnected. Gst and bank also cancelled
There is no further financial transactions.
Let's is know how to cancell pan card of parnter ship firms.
Please advise.
Binu

A Pvt. Ltd company has a sundry creditor balance of Rs.186.00 lakh under sundry creditor head for a single party and has classified the particular entry as non-current as the entry is outstanding for more than 5 years and under dispute between both the parties and matter is in the court.

Kindly clarify as the entry can be classified as non-current liability?

Is indexation available for sale of land or building on or after 23rd July, 2024? If available then one like to avail capital gain exemption scheme then on which amount need to be credited in such scheme? Whether of capital gain after deduction of indexation cost or capital gain after deduction of without indexation cost?

An NRE client residing in the U.S.A. intends to sell a property located in India. However, his PAN is currently inoperative due to non-linking with Aadhaar. Since NRIs are exempt from the requirement of holding Aadhaar, is there a way to make the PAN operative without linking it to Aadhaar?

Additionally, please explain the procedure to transfer his PAN jurisdiction to the International Taxation Assessing Officer.