A charitable trust duly registered u/s 12AA of the Income Tax Act 1961 receives donations. Please advise as to which of the following shall be considered to be Annonymous Donations:

1. Donations are received in cash at the office of the trust and the donor gives his name and address but no details of identity viz. PAN or Aadhaar etc.
2. Donor transfers money in bank account of trust but trust does not have details of such donor
3. The donor deposits cash in the bank account of the trust but the trust does not have details of such donor
4. The donor transfers money to the trust through UPI such as Paytm, PhonePe, GooglePay, BHIM, etc but the trust does not have details of such donor.

Kindly advise. Thanks

Is their any provision in Income tax ITR return form to Adjust the principal amount over and above the TCS deposited under Section 206CP.

Our one client dealing with surgical instruments business, he imported of goods through FedEx courier and paid IGST 12% at the time of import of goods to the government, and he is resell imported goods without any changes to Maharashtra clients. Query is that Now Can he claim imported goods IGST amount as per GSTR-2b reflected on portal?

Hello

Can daughter/son gift to parents under Companies act 2013??

Hello!

I am looking for a professional and affordable printing service to help me print bulk brochures for my business. We are introducing some new business services that we would like to promote among our customers and need a good brochure printing service that can print brochures in vibrant colors and quality papers.

I have been thinking of getting help from https://www.bookprinting.ae/brochure-printing can anyone review this for me?

Incase of Intraday, Speculationa & F&O Turnover is more than 2 Cr in Financial year 2023-24 and if such party wants carry forward loss incurred by such F&O and speculation then what is the way to carry forward such loss?
If audit would be applicable as Turnover exceeds 2Cr in particular financial year?

Hello,

My query is related to exchange rate.

how to book exchange in Africa region book keeping where exchnage rate is fluctuating rapidly.

For eg: exch rate 01.01.2023 - 6/ usd and Exch rate 31.12.23- 12/usd.
this way, if m booking forex then its showing huge forex loss in books.

Which is best website for exchange rate.

I am converting only Balance sheet items like Foreign Creditors/Debtor and USD Bank Loan.

Is this correct way?

Second) Same way Land which was also bought in USD on 31.12.22 @6, can i book exchange rate on this land also? or only way is revaluation?
we have done revaluation in May 2024, but I want to take the revaluation as on 31.12.23. is it possible?

Thanks in Advance

Good morning sir/s,
One assesee couldn't filed the correct return, he couldn't able to produce the evidence against his claims under chapter VI A, for the same year Income Tax Authorities issued notice under section 133(6) calling information,
can we file updated return of said employee against notice issued by IT Department under section 133(6), and can we file the reply along with updated return computation,

assesee is ready to pay the tax including additional tax there on,

please guide me, how to suggest him

Dear Experts,

For the purpose of calculating surcharge @ 10% on Income exceeding 50 lacs, how long term capital gain on listed shares eligible for 100000 exemption is to be considered?

Foe Example Total income from all the other sources is 48.50 lacs and Long Term Capital Gain on Equity is Rs. 2 lacs( without considering exemption of Rs. 1 lac). Here, total income becomes 50.50 lacs although Tax is to be paid on 49.50 lacs. Is surcharge applicable subject to marginal relief?

Please advise.

Thanks and regards

Sir, I have query kindly resolve this, for Example Mr. A GST Registered Taxpayer has sold Open plots to buyers which is exempt as per GST. But, My query here is, May I need to show that Exempted Sales in GSTR 1 or Not ?