On conversion of LLP into a company, whether new PAN is supposed to be obtained or can the company use the PAN of the LLP (being a successor).

Also how is the Return supposed to be filed in this case. Whether LLP is supposed to file return upto date of conversion and post that company will file separate return ? In this case, given the e-filing process- the portal would not allow filing two returns for same AY.

Is profit on sale of mutual fund invested out of corpus fund taxable in the hands of charitable trust registered u/s12A.
where to enter in ITR 7 please clarify

How we received PAN, TAN ,PF ,ESIC and GSTIN No. after ROC Registration Certificate.

How to make joint loan taken journal entry in books of accounts against mortgage.
seprately in books of accounts.

in ROC registration certificate which type of additional No Given in certificate,
Like CIN No.
PAN No
TAN No
GSTIN No
or any other no. also mentioned in registration certificate,
Kindly mention name what extra name which type of registration also mentioned name.

if a stock purchased in January 2025 and sold in April 2025, then profit from the said transaction will be treated in which FY 2024-25 or 2025-26?

Dear Experts,
A customer buys 12% and then sells after 22 September at 5%,
so what should be done with balance ITC 7% ? Can carry forward ?

Sir,

Our LLP has a turnover of 46 lakh so pls share due date and whether audit required

A taxpayer has been issued a Show Cause Notice on the following grounds:

Wrongful availment of Input Tax Credit of ₹10,00,000/- in contravention of Section 16 of the CGST Act, 2017, proposed to be disallowed, demanded, and recovered under Section 74(1) of the CGST/GGST Act, 2017 read with Section 20 of the IGST Act, 2017.

Recovery of interest at the applicable rate under Section 50 of the CGST/GGST Act, 2017 read with Section 20 of the IGST Act, 2017.

Imposition of penalty under Section 74(1) of the CGST/GGST Act, 2017 read with Sections 122(1)(vii), 122(1)(x), and 122(2)(b) of the CGST/GGST Act, 2017 read with Section 20 of the IGST Act, 2017.

Imposition of separate penalty under Section 122(1)(xvi) of the CGST/GGST Act, 2017 for failure to maintain prescribed records at the principal place of business declared in GST registration.

Findings (charges proved):

Demand of ineligible ITC of ₹10,00,000/- confirmed.

Interest on the above demand confirmed under Section 50.

Penalty of ₹10,00,000/- imposed under Section 74(1).

Issue for Determination:

What should be the separate penalty under Section 122(1)(xvi)? Should it be ₹20,000/- (fixed penalty for non-maintenance of records) or ₹10,00,000/- (linked with tax evasion amount)?

If the penalty is quantified as ₹10,00,000/-, why should it not be restricted in terms of Section 75(13) of the CGST Act, 2017?

Alternatively, can the penalty under Section 122(1)(xvi) be limited to ₹20,000/- considering that the offence of non-maintenance of records is of a non-quantifiable nature?

Thank you in advance.

Sir,
one of my friend has income during 25-26 is below
from rent 8,00,000
bank interest 12,00,000
partner salary 5,00,000
he is above 60 but below 80, and select new tax slab.
my doubt is
1. while compute income tax all income is effected tax slab .is there is any separate tax for bank interest
2. can get standard deduction 75,000 for partner salary
please advise