Dear Experts. I have seen / heard conflicting comments on this issue. Hence bringing it up to the CA experts here. Appreciate if more experts share their views on the below

1. EPF: As per EPFO rules, a salaried employee can continue his EPF membership without any restrictions. However if no contribution is received in the account for 3 consecutive years, after 3 years no interest will be earned. Income Tax Act says EPF withdrawal upon retirement is tax free. Given this situation, in case of an employee who works with a company for more than 5 years, retires at age 60, does not withdraw the EPF accumulation until age 63, will the interest earned between age 60 and 63 be a tax free income or is it taxable?
2. NPS: Upon retirement at 60 years, a subscriber can withdraw 60% of the corpus as a lumpsum, which is tax free and has to take an annuity for the balance 40%. PFRDA has recently introduced a new withdrawal option “Systematic Lumpsum Withdrawal (SLW)”. Under SLW, a subscriber can make the withdrawals in a phased manner instead of a lumpsum. Withdrawals can be made monthly, quarterly, half yearly or annually upto age 75. If a retiree opts for SLW, are the returns earned during the deferment period tax free? Deferment period refers to time from age 60 upto period when SLW ends, max 75 years.

Upon conducting a detailed reconciliation of the ITC as per the GSTR-3B and GSTR-2A/2B, it was
observed that an excess amount of ITC was claimed for the period of FY 2020-21. The discrepancy arose due to Misreporting of Input Credit of RCM as Normal ITC (Annual GSTR-3B Summary annexed as Annexure 1), there were Reversal of Input credit in FORM -3B Which were not considered in Table 8B of FORM GSTR-9 (GSTR-9 annexed as Annexure 2). However, there was a misreporting of ITC Claimed of Previous Year in Current year in FORM GSTR-9 and GSTR-9C
which same is reversed through DRC-03 dated 22 nd January 2025 (Annexed as Annexure 3).
a) Now i have to ask weather we have to pay interest for the error.

Hello experts,

From next year, the tax slabs have been increased to 12 lakhs.. i have invested a good amount in debt funds on my spouse name in July 2024 and planning to redeem it august 2025.. she is not working right now.. the expected profit gains from redemption is around 11 lakhs.. should i pay any tax on the profits ? the debt funds are held for 13 months only..

During the FY 2024-25 my Capital Gain - Long term is Rs.410,000 and Short Term Rs. 80,000. My Query is:
1. what is the exemption available on LTCG and STCG.
2 What is the rebate available u/s 87A for LTCG and STCG (Referring to the recent High Court Matter on claiming rebate u/s 87A for Capital Gain)
3 What is my Tax liability on the above both Capital Gain income.
4. Does my above earning fall within or outside the slated income tax slab.
5. Should i pay advance tax now ie in Feb 2025 as the earnings has been mostly during June-Dec 2024.
6. Until now i have been filing returns as Individual under old regime, is it advisable to file returns under new regime as my other Income is within 3.50 Lacs p.a. comprising of House Rental income, Dividend and Bank Interest.
pls advise

Hello experts,
What is the HSN code for Advisory and business services..
And what is the place of supply, if these services (Advisory services) were given to a company based in Nepal.

SIR
Mr A. Run of one wholes sales trade name xxxx. up to the FY year 2023-24.He purchased land of cost 75 lakes as on 10.05.2023. and debited in the trade balance sheet. He closed this business as on 31.3.2024. and he desired sold this land under real estate business from1.4.2024.how this land transferred from trade business to real estate business and pass this business entry.
thansk

I am registered dealer in GST, now we are planning to make a temporary stall in road sides in this senario is there any special provision is required to be followed under GST.

if we file return under section 148 for assessment proceeding under section 147 then such return under section 148 can be revised again?

When I have tried to file correction statement it was rejected due to Line No 2 - Invalid Previous RRR Number.I have mentioned previous quater RRR nubner

In GST Amnesty Scheme, appeal has been withdraw & if Assessing officer do not satisfy for withdraw under this scheme and reject SLP 02. Then taxpayer need to file appeal again?