I took VRS from BSNL on 31-01-2020 under VRS 2019 scheme. The Gratuity payable was deferred till I attain the age of superanuuation ( i.e. 28-02-2021) and i received my gratuity payment during March 2021.
Department of Telecom released by Gratuity of 20 Lakhs with interest of Rs.1.65 Lakhs. Is this interest
paid on deferred payment of Gratuity is taxable. If so under please quote the Section under which Income Tax is to paid. If it is exempted from paying Income Tax, please quote the section under which it is exempted.

Dear Sir,

Reference to your reply dated 1st September, 2021:

There has been a recent notification dated 12.01.2021 stating that the FCRA renewal needs to be applied ‘before’ six months of expiry of registration. In other words, the organizations where the FCRA registrations get expired on 31.10.2021, would have to apply for FCRA Renewal in Form FC-3C on or before 30th April, 2021.

In our case the FCRA registrations will be expire on 31.10.2021 but till today, we have not applied for renewal of the FCRA registrations as per new amendment.

Please guide us how to get renewal of FCRA certificate in this case and what is the consequence of not apply for renewal.
Regards,

K M GOYAL

Our last quarry:

k M Goyal (Querist) 01 September 2021

Dear Sir,
Our due date of filing application for renewal of FCRA certificate has expired. Please guide us how to get renewal of FCRA certificate.
Regards

K M Goyal
M No.-9899799000

Your reply on the query:

CA R SEETHARAMAN (Expert)
01 September 2021

Delayed Application for Renewal In case an NGO fails to apply for renewal within the due date, its registration shall become invalid. However, the department may condone the delay if satisfactory reasons for not submitting the renewal application are provided. A delayed application for renewal can be filed up to 1 year from the date of the expiry of the FCRA Certificate. A delayed renewal application shall be accompanied by a fee of Rs. 10, 000(Ten thousand only).

Rural Agriculture Land situated outside municipal area (i.e more than 8 k.m) is not a capital asset as per sec 2(14),

Question is, this land will be sold to a PVT Ltd Company under sec 63AA of The Gujarat Tenancy and Agricultural Land Act, 1948 and after-sale , the land will be converted into non-agriculture by PVT Ltd company and all costs bear by the company itself.

Now can I take the above transaction cover under Sec2(14) or I suppose to pay long term capital gain?

My client has earned profit of Rs 2,50,000 from Fno trading in her mother's Dmat. Now further profit will be taxable so can he transfer capital of Rs. 10,00,000 from his mother's Dmat to his own Dmat for trading in FnO to save tax?
Is there is a possibility of notice from income tax department in future due to this?
If yes , then can my client say that this is a gift from Mother to son and hence exempt from tax.

Hi,
I want to start with POD business on teespring and redbubble. Both these platforms are based outside India. As a seller, I will upload my artwork on these platforms, will create a virtual listing of products & set selling price for each product. Customers(who are also from outside India) visit and place order with these platforms.These platforms manufacture and deliver orders to customers and after deducting a base price for manufacturing from selling price, the remaining amount will be paid by platform to seller i.e. me by payout through PayPal.
After a lot of hassle, I came to know that this will be the export of services( zero rated supply) and all transactions need to be shown under GST.
I am just receiving payout (showing profit earned by me) from these platforms through PayPal
I am not issuing or not receiving any invoice. Even customer details are not shared with me.
So my questions are
1.How to show this profit under gst as I have only payouts showing profit earned by me (i.e. selling price minus base price) from those platforms?
2. I don't have any invoices but in gstr1 Invoice details need to be filled. How to address this issue?
It would be of great help if you could answer query.
Thank you

Company is having PBT more than Rs 5 cr up to FY 19-20. But during 20-21 company's PBT is less than-
Rs 5cr.

Company is not qualifying for CSR under other criteria of net worth and Turn over.

Is it company have qualify for CSR applicability based on 20-21 PBT ?

I am staring out as an accountant and I have to prepare my firms books of accounts for audit purposes. Can anyone guide me through the important things that I need to consider for the procedure. This would be a great help in my career.

Sir,
A partnership firm working in two partners.purchases of agriculture land rs:10 lacs value name for 1st partner.but payment rs:8 lacs 1st partner and rs:2 lacs 2nd partner.
Question:
Purchase of agriculture land rs:10 lacs value show in partnership firm and partners individual account in it act.

Dear Sir/Madam,
We have made mistakenly payment to challan TCS 6CR intead of TDS 194Q and vice versa for the month of July 2021. What shall we do? Should we pay fresh challan along with interest or can both be setoff against liability of each other.

Please suggest the course of action.

Thanks

We have sold to a party Rs199500/ Goods in cash in aug2021. The same party again wants to purchase Goods from us in cash of Rs199000/ ? Can we sale them in cash? Can we accept cash against sales per month? Please advise?