In AY 22-23 Co. has sold Fixed assets for Rs.22 lacs ( original cost - 92 lacs). As per income tax ( WDV concept) Rs.22 lacs should have been deducted from WDV ( sale price). However by mistake 92 lacs was deducted which resulted in lower depreciation. We have paid higher tax due to above mistake.

can we file rectification u/s. 154 or revision application and claim refund ?

Within how many days I should register my Articleship with New Principal after taking transfer in 1st year itself.
Will by attempt get postponed ??

Hello experts, Exempted sales shown in GSTR 1 by mistake. How to amend this in next month GSTR 1. Valued opinions are solicited. with regards

Sir,

Security Services bill raising this is rcm we are paying and taking ITC GSTR2B showing POS and Supplier State are same but Recipient state is different ITC availibility No

I am not able to understand this sentence . we pay RCM or not , if pay we can take ITC

Plz kindly explain and guide me

Thanking you,

Sir , i purchased shares of a company for rupees 100 per share. Now the rate is 120 within 3 days. If I gift the shares to my wife what should be tax implications

Hi Sir,

I purchased some assets and other items from an E-commerce operator on behalf of my company. Due to some fund release issue, I paid out of my pocket to purchase these items. Now Company is going to pay the amount to me as reimbursement .Whether the company requires to deduct TDS on this ?

In which Month GSTR 3B claim pending last year GST ITC?

a company received SCN u/s. 276B for prosecution for delay in deposit of TDS. We have replied to SCN giving reasons for delay and expecting proceedings to drop.

company is thinking of compounding application incase 276B proceeding is not dropped.

I have following queries
1. when to file compounding application - now or later after after our request is rejected ??
2. Also does issue of SCN mean initiation of proceedings u/s. 276B ? if yes then compunding charges would be 2% pm else 3% pm if yes then will apply for compounding now

I have purchased a property of worth 90 Lkhs from DRT Auction.As per TDS On Sale Of Property above 50 Lakhs i have to deduct 1 % tax and deposit to IT department on behalf of Seller.Banker(DRT also) is not allowing to deduct 1 % tax from auction price.

is there any exemptions for 1% income tax deduction under TDS On Sale Of Property by DRT Court.

Thanking you in advance.

Hi Experts,
Need your views on the following Case :
Facts : One of Our client is a Partnership Firm engaged into the business of Real Estate Development. They have started Construction and in the mid of the project. Now they wish to Convert Partnership Firm into Limited Liability Partnership with the same Partners becoming Designated Partners/Partner in the LLP.

Issue :
1. Will this Conversion be treated as Transfer of Business ?
2. What precautions need to be taken during and after Conversion with respect to the direct/indirect tax and accounting treatment ?

Thank you in Advance for your valuable views