Dear Sir,

Can a new members who has complied all the provision of the purchase of flat eligible to be appointed as treasurer. Few people opinion that a person can't be appointment to any position till 2 years from the date of Enrollment. They mention that section 27 MCS is the provision governing this.

Regards,
Murari Bharuka

I have an asset purchased on 1April2001. Now it has been sold this year i.e. in the pear 2023 in order to save tax i want to reinvest the amount in a new residential property( as per section 54).
My query is do i need to invest entire sales proceeds(net sales) or i can deduct cost of acquisition amount also taking into account inflation index.

Dear Experts,
I am a Salaried Person also running the TATA AIA agency. The TATA AIA deducted GST from my commission.
I don't have any GST registration.
Can I claim GST deducted by TATA AIA Insurance company while Income Tax Return?

An individual have received Demand Notice u/s 156 & Order u/s 147 for not filing ITR. As per order accompanied with computation sheet, its shows tax liability of approx 5 Lakh which includes interest u/s 234A & 234B and also INR 10,000 u/s 234F. The order shows details taken from Form 16 obtained from employer in which net tax payable comes to zero but in computation sheet shared by Income Tax they have not taken deduction under Chapter VI and also not considered TDS because of which tax liability of approx 5 Lakh is coming. Had IT department properly considered deduction under Chapter VIA & TDS, tax liability would have been limited to INR 10,000 ( u/s 234F) . Please advise how to respond to their notice & order from Income Tax portal ?. The Demand order does show option of filing appeal in Form 35

Sir,
A Doctor maintained a private hospital and pharmacy Stores
Cash balance as on dt:30-03-24 rs:40 lacs as per hospital account books and physical verification cash rs:35 lacs
Cash balance as on dt:30-03-24 rs:30 lacs as per pharmacy Stores account books and physical verification cash rs:32 lacs
Question:
Assessess excess and shortage cash amount deposit in bank account as on dt:31-03-24 compulsory.

1. I want to sell a residential plot and partially invest in a new house to avail deduction u/s 54F. As at present I have two houses one in my name and other jointly with my wife who is a working lady. Can I gift my share in joint house to my wife before selling the plot to avail deduction u/s 54F. Can it be by way of registering gift deed or by way of sale deed.
2. Can I claim both 54EC and 54F in above case.

Hello.

If a NRI has less than 10 lacs of income per annum in India but decides to sell his/her property with LTCG of more than 50 Lacs, how would he/she be taxed?

Would the income exceed the 50 lacs surcharge threshold in this case or LTCG would be separately taxed at 20% without including in the total income?

We have a Provisional Registration of form 10AC in Section 12 for A-Y 2024-25.
So will we be applicable to file form 10A before 31st March 2024 or after that.
When can we file it?

Date of Incorporation: 28/09/2012, a private limited company wants to increase its authorized capital. It has only hard copy of MOA. So how to get e-MOA and how to increase its authorized capital. Please share the details procedure.
Thank You.

Dear Experts,
One of my client wrong OTP composition dealer as on today. Now Client wish to in regular scheme. Now what to do in this case ?