Respected Professionals, our's is Partnership firm, our boss purchased immovable property on his name but he used to made partial payment by firm. The value of property is more than 50 Lakhs, as per IT there will be 194IA applicable right?. My question is that payment made by the firm is liable to deduct TDS ?, as only approximately 10 Lakhs payment made by the firm and now we are transferring amount from firm to our boss account as we are recorded as drawings to boss capital account. So kindly suggest me about TDS.

Interest paid or payable for more than 2,00,000 can be claimed out of rental income

IF BILL OF MAR-1920 IS NOT REFLECTING IN GSTR2A AND TIME HAS BEEN LAPSED FOR AVAILING ITC AND NOW WE ARE IN MAR 2021, HOW CAN WE GET THAT ITC?
CAN WE SAY THEM TO ISSUE FRESH INVOICE AND WE WILL NOT TAKE DEDUCTION OF PURCHASE VALUE IN INCOME TAX, ONLY CLAIM ITC OF THIS BILL?

I HAVE NOT RETURN GSTR 3B LAST 2 YEAR . IN 2019-20 DEPARTMENT HAD BEEN CANCELLED OUR REGISTRATION IN MAY 2020. HOW TO REVOKE MY REGISTRATION THIS TIME.

The printout of the form of Form 102 (Articleship Deed ) is such that there is no space on top of first page for leaving the space for printing it on stamp paper.
Please advise what to do now.

Hello Everyone,

Can anyone share me the format of Project Report for Dealership. Please help me.

The contribution made by an employer to its employee's provident fund account used to be fully tax free in the hands of the employee without any monetary limit as long as it did not exceed 12% of the basic salary and dearness allowance. However the Finance Act, 2020 has amended the situation and has put an absolute cap of ₹7.50 lakh on the aggregate of contributions made by an employee to recognised provident fund, National Pension System scheme and an approved superannuation fund taken together in a year. Any amount in excess of Rs. 7.50 lakh contributed by the employer to these accounts taken together shall be treated as perquisite in the hands of the employee and will be included in his salary and taxed at the slab rates. Even the interest or income accrued in respect of such excess contribution to these three accounts shall also be included in the value of perquisite of the employee year after year.

My question is above amendment is applicable from which Financial Year ?

Can I gift cash to son in law to pay housing loan he has availed from Bank @ 9%. Will I incur any tax liability in future for interest I would have earned on amount say 5lakhs gifted? I am aged 77 yrs ,widower earning pension & interest on savings staying with daughter.

Can a Govt. employee carry on GST Consultancy business & Practice as a GST Practitioner beyond office hours or during holidays after obtaining GST Registration from the GOI? On the other hand, can he do GST Consultancy and certify reports online independently? Please furnish a comprehensive reply ASAP. Thanks in advance.

Dear Sir/Madam,
My uncle , like others , was allotted a plot of land at Salt Lake near Kolkata on long term lease basis. Lease deed was executed in the year 1985 by the State Govt. upon payment of Rs. 50,000/- only. He constructed a single storied house property and then gave long term tenancy right to a gentleman at Rs.5.00 lakh ( one time payment ) in the year 1995. This practice was in vogue in Salt Lake. Local Govt. was also aware of this fact.
Meanwhile , the said tenant constructed three storied building on the same structure. Now, the State Govt. proposes to give ownership right to every lease-holder upon payment of certain money as transfer charges . Registration charges to be borne by my uncle . Present valuation of the property is around Rs. 2.5 Crore.
Now, the points are: 1) Stamp duty / Registration charges to be calculated on Market Value of Rs. 2.50 crore. Can this liability be shifted to the Tenant ?
2) Is there any liability on account of Income Tax- Capital Gain Tax? I understand this liability is primarily lies on my Uncle. How can he escapes from this Liability?
3) What will be the mode of calculation of Capital Gains?

Your valued opinion is sought.