LIMPA CHAKRABORTY
09 January 2025 at 10:19

STANDARD DEDUCTION FOR THE A.Y. 2025-26

Kindly let me know whether the standard deduction under the old tax regime is Rs.50000/= and under the new tax regime is Rs. 75000/= for the assessment year 2025-26. Excuse me for the trouble caused. Regards


Srimannarayana
09 January 2025 at 08:39

Xerox mechine AMC ITC available

Dear sir as we are Agriculture Research Institute and we provide scientific research sevices we have AMC for 9 Xerox machines can we take ITC


Mandeep sehrawat
08 January 2025 at 23:06

Tax on transfer of ctc car

I got a ctc car worth 20 lakh from my company. The amount was actualky given on loan to me @8%. The cost towards the same was deducted from my CTC every month fir last three years. Now the residual value of car is 4 Lakh. (And I am told by my company that fair market value is 6 lakh). They say that of I buy the car now, I have to pay the residual value (4 lakh) and 30% of balance 2 lakh as tax. However, if the car is directly sold to a third person, this 30% will not need to be paid. I am confused. Request advice


Yasir

A sister wants to transfer amount rs 15 lac to her minor brother for study
Is there any problem in income tax or not


Sanjay Budhiraja
08 January 2025 at 19:24

Transfer shares

Sir
Happy New Year to all experts.
My query is can the transferred shares be reinstated. If yes what is the procedure.
The payment cheque was given to the seller but he has not got the cheque cleared till date.
Regards


Ashish Kumar Pandey
08 January 2025 at 17:49

194-O TDS-E-Commerce

Fact of the Case:-
E-Commerce operator (Flipkart) selling goods to a company more than 10 Cr in a year by using digital platform. Flipkart make payment to company after deduct all the expenses and commission and also TDS Deduct by Flipkart on the above transaction u/s 194O.

And Flipkart raised commission invoice to the company against sales, Then Company liable to Deduct TDS u/s-94H on commission invoice.
Now Flipkart object on TDS deduction u/s 94H which is deduct by the company against commission invoice.
So please advice the correct procedure.


Mahabir Prasad Agarwal
08 January 2025 at 16:23

RCM on URD purchases

Whether RCM apply on purchases from unregistered dealers (local purchases of sand, stone etc.) ?


Suresh S. Tejwani
08 January 2025 at 16:22

Peer review applicability

If there is a partnership firm of three Chartered Accountant, then peer review will come or not?


VIMAL SAGAR
08 January 2025 at 15:49

Write off a Party Balance

We paid a party Rs 2,80,000
How to Write Off in Tally? What will be the Impact of Income Tax?


Sanjay Ratnanipro badge

Out of 4 partners 1 partner retire from firm and withdraw his capital from firm,revaluation of assets and liability required





CCI Pro
Follow us


Answer Query