GM,

I am an accountant in a proprietor firm, the owner has already crossed 30% limit of IT, now getting long & short term profit from Equity & FO. my question is what rate is applicable for those capital gain?

Thanks & Regards,

Subject: Query regarding an E- Form DIR 12 filed on Version 2 of MCA portal.
A private Limited Company's E- Form DIR 12 is stuck with RD, and the status of same has not been updated since the last 11 months even after raising complaints and mails to the RD the only response received is to wait for the form to get updated by RD.
The form was submitted on September, 2022 and status of which was referred to RD and yet no response had been provided, due to pendency of this form, MCA is not allowing the company to file another DIR 12 form in Version 3 portal. Many previous complaints filed by the company were closed but no action had been taken in respect of the same, Please provide a relevant solution for this issue from your end.

A company has opted section 44AD Scheme & as per the terms is opting to file return at 8% turnover, whereas the actual books show a profit of 12%. What should be taken for computation of taxable income.
Please Guide.

MY FIRST QUERY IS CAN WE APPLY ONLINE TO CIT. MY SECOND QUERY PLEASE PROVIDE APPLICATION FORM FOR APPLING THE CERTIFICATE UNDER SECTION 17(2).

Hi, last year our client paid some amount. And we bymistkenly forgot to raise a bill against the same. Can wr raise it now?

Since we haven't paid ant GST on advances at those time, will it have negative impact now while raising bill?

A person operating travels service having annual turnover will be 1.2 cr. want to apply for gst registration. Can he avail composition scheme as his turnover will be more than 50 lakh?

if no then, will register in Normal Scheme, what is the rate of GST & SAC code?

Dear Sir,
We (Regd. in Uttar Pradesh in gst) have recd. some bills from 1 vendor (regd. in haryana in gst) in the month of July 23 and the vendor had filed his GSTR-1 on timely basis but catered wrong taxable value and tax values and wrong place of Supply e.g. in some bills place of supply was punjab, in some bills place of supply was haryana and in some bills place of supply was uttar pradesh with wrong taxable value and wrong tax amt.
Now, vendor is saying that he will amend all invoices in august month return.
Can we can claim all itc on all invoices of that vendor in the August month GSTR-3B return.
If yes, then is there any amt to report under "(2) Ineligible ITC under section 16(4) & ITC restricted due to PoS rules" in July month Gstr-3b return, kindly assist

An assessee filing ITR on Presumptive Income basis sold industrial land and building for 40 lakhs during ay 23-24. Land was purchased for 3 lakh during financial year 2008-09 and building was constructed during financial year for Rs. 15 lakhs. Please suggest basis of capital gain considering indexation and depreciation issue.

Dear Experts

For AY 2022-23 I had b/f LTC loss of 50000
In AY 2022-23, I had LTCG of Rs 14000 and Speculative loss of 2500
So erroneous, I Adjusted the same and took set off of LTCG of rs 11500, which was available for set off against b/f loss

Now ITDpt , disallowed Specualative loss adjustment of Rs 2500, so they took LTCG of 14000 , but allowed set off of Rs 11500 b/f Capital loss , since adding 2500 to my income

I filed rectification return , taking set off of rs 14000 ( as was available b/f LTC loss )

But Income tax dpt replied
Under Section 154 of Income Tax Act 1961, rectification application can be filed only tocorrect mistakes apparent from records. In this case, fresh claims of BFLA is being made inthe rectification application, which is not a mistake apparent from records. Hence yourrectification request cannot be entertained.

How to explain Department that set off could be taken to extent of available capital gain.In fact they should have allowed in 1431A , full set off as they were aware of B/f capital loss

Thanks & regards
Yashesh Gala

How to add Warehouse details on DGFT PORTAL?