The assessee had long term capital gain on sale of House property in March 2019 and invested the gain in CGAS account before due date of filing return. He purchased new property in January 2021 and reinvested from CGAS Account. The cost of the new property is much higher than the long term Capital Gain reinvested. For the shortfall in amount he invested from his savings and investments. He sold certain long term debt funds and entire proceeds is reinvested in buying the house property. He does not own any other property except the one purchased in January 2021. He has earned long term capital gain on debt funds redeemed during the FY.
As he has invested entire sale proceeds of debt funds redeemed in house property he is eligible for exemption u/s. 54F. Is my view correct?
As he has used CGAS account balance also u/s. 54, can both deductions be claimed in the same assessment year? All the conditions laid down u/s 54 and 54 F are complied with.
Kindly advise.

Sir,
It assess purchase of site value rs:45 lacs.
Assess own funds rs:15 lacs
Funds from husband rs:10 lacs
Funds from son rs:10 lacs
Funds from daughter rs:10 lacs
Question:
Assess purchase of site value amounts payment through on it assess bank account or through on lenders Bank account amounts transferred.

Hi Sir,

I am one of the six partners in a partnership firm where two partners are not at all supporting and so we four partners are working on dissolving the firm under section 43. We sent notice to all the partners but we are unable to get the signature of those two dissent partners on the dissolution deed. Could you please let us know how can we proceed forward? Will the registrar accept dissolution deed without all signatures? Can we submit the copy of dissolution notice in place of signatures?

Thank you for your time and guidance

We sold goods to a party in 2018-2019.The party did not make the payment to us. How can we reverse ITC OF the party? What is the process?

In the trial balance prepaid expenses are having both debit and credit balance.
How I should treat it for the preparation of financial statements?

Whether tds u/s 194q and tcs u/s 206c(1h) to be made by consignor or consignee in consignment sakes

Hello, everyone..... Good Evening....... My Company incurred a big amount of contraction expense on rented factory premises and lease period is 3 years.
now my ques is how can I book these expense ...........
kindly suggest an appropriate accounting method........
thanks in advance

Dear Sir,

One of my client is into Business of manufacturing and is registered under GST with Rs. 42 lacs as turnover. He is not under tax audit in income tax.

Apart from business he also takes coaching classes and earns an additional income of around Rs. 2 lacs per annum.

Is it mandatory for him to pay GST on the coaching class income as he does that as a part time activity.

Please help me resolve this issue.

Regards,
Divyesh Jain

Sir, we are the miller of wheat flour for distribution to the State Govt under the PDS System. what is the GST rate and HSN/SAC Code on the composite supply of goods and services which is provided to the State Govt.

Dear Sir,

One of my client has taken loan from a UK based institute for higher education and paying interest on this loan through NEFT from an Indian bank account.

Is the interest component of this loan eligible for claiming deduction U/s. 80E even if the loan is taken from abroad. Do he has to obtain any documentary proof.

Please help me in this matter.

Regards,
Divyesh Jain