Hi Expert Professional,
My father as senior citizen sold land Rs. 14 lacs this year which was taken since 2009 Rs.2Lacs but no other source income so is it required to pay long term capital gain tax. My another question is this sale consideration given to his two sons and his one son are about to purchase a house also need to pay long term capital gain.

Dear sir,
Indian resident have received the dividend from foreign company, however initially such dividend was transferred to Escrow and later Assessee has encashed it in different year, and also income summary statement (form 1042-S)captures this income the year in which it (dividend) transferred to Escrow A/c. Form 1042-S shows that dividend income is exempted in USA, hence no tax is deducted in USA for this Income.

Question.
1. is this income is taxable in India ?
2. If taxable in the sense in which it has to be taxed? ( dividend transferred to Escrow A/c FY 209-20 but Assessee encashed in FY 2020-21)
3. Is there any relief available for this income?

Please give your valuable opinion on this issue.

Thanks in advance

Dear Sir,
One of our client is running a school since 1998. The society is registered under Societies Act , 1860. They are having School building in there books Rs 1.5 Crores. Now the society wants to close the school and the society and during lock down there are no students. What the procedure is to be followed. and tax implication under which section

Dear sir, My daughter is NRI she wants to invest in LIC's jeevan shanti by sending in GBPonds in NRO account. Whether interest is taxable in India or she should send GB Ponds in her NRE external account. Please guide me
Dilip Phatak

A real estate company opted new scheme which released by department as on 01.04.2019 which is 1% and 5% without ITC. A s on 01.04.2019 there is a balance of rs 7 lakhs in credit ledger and this balance is stil remain in credit ledger. The company neither take any input tax in GSTR-3B nor paid any Liability through credit ledger balance till the period of JAN 2020. But in the period FEB 2020 & March 2020 the GST liability paid in GSTR -3B by the credit ledger.

So the question is '' can we use ITC which is in credit ledger from 01.04.2019 to released gst liability for the current periods ''
Q 2 : Should we reverse ITC which stays in credit ledger''

PLEASE ADVISE ME

We applied for renewal of 12A in the month of December, by filing online then form10A, we under stood afterwards that Govt. is coming with new guidelines. we received Provisional registration at May21-end for 12A, now we want to renew our 80G on line by filing 10A. But once we login to new site of Income tax we can not see Form 10A to be filled.
In this case how to comply with this online renewal formality of 80G.
Please answer at your earliest so that it will help us to comply with 80G renewal.

Dear Sir,

Please give Suggestion for ITC on water purifier for employees.

As per my understanding ITC not specifically blocked in Section 17(5).

ITC available or not?

Which ITR should be used in the following cases :
1) Income from Salary is higher than income for Commission & Brokerage.
2) Commission is higher than Salary.
3) If any amount is received as Commission & Brokerage , ITR 3 is be filed or any financial limit.
4) Can ITR 4 be filed if Commission received is fully considered as income i.e. amount received Rs200,000 is treated as Income.
5) lots of confusion for Income from Commission & Brokerage
Pls advise ?

Sir Our both business firms situated at same address and now one Firm transfer material to another firm by using manpower. So we need to generate eway bill in this case?

If yes then why?

Sir,
One of the it assess two wheeler and air conditioner purchase for personal purpose.
Question:
Assess two assets how to show procedure in books and it returns under gst and it act.