I had recently sold a listed stock resulting in a long term capital gains. I already own one house and had entered into buying an apartment in 2014. I had made several instalments till 2019. However, the sale deed for the property was finally registered on 31st march 2022. Will I be able to claim deduction under section 54F of the act for the capital gains as the registration of sale deed happened within 1 year prior to the capital gains.

A tech logistic Advisory does following financial transactions
1. Gets prepaid money from its customers(B2B & B2C), a part of that money will be sales and other part will be passed on to Delivery Service Company because they actually get to that customer place and get goods and then go to destination to deliver goods
Journal Entry will be
1.1 Bank A/c Dr. 1,000
To Adv. From Customers. 1,000
(Being Prepaid money received)
1.2. Adv. From Customers. Dr. 100
To Sales. 100
(Being Sales for Delivery Advisory Service)
1.3. Adv. From Customers. Dr. 900
To Vendor Delivery Co. 900
(Being Delivery Charges Payable to Vendor Delivery Co.)
1.4. Vendor Delivery Co. Dr. 900
To Bank. 900
(Being Delivery Charges Paid)

The above entries are fine and easy.

But I want to know how to account for Cash on Delivery transactions. Sometimes, customers will have C.O.D. so I am liable to pay him the COD amount which I get from the Vendor Deliver Co.

dear sir,
govt has changed some tax rate from exempted to 5% for goods below 25kg.i have stock of goods of 25kg on 18072022 now i selling this stock of goods after converting to 26kg.should i pay gst?
with thanks

We have a private limited company. It delivers online courses to students in India and abroad.

Some of our teachers are college and university students who work part time with us. They usually work for some months and then switch jobs.

They work online and almost never come to the office. Their monthly payments range between ₹8000 to ₹15000 depending on weekly commitments of work-hours.

How much TDS should we be deducting?

Can these part time teachers be regarded as Technical Service providers and then deduct TDS at 2% or Contractors and then deduct TDS at 1%?

Or should they be treated as professional service providers and TDS to be deducted at 10%?

As most of them do not have income tax files, and the amount is really small, we wish to deduct as little TDS as possible to reduce complexity. Please advice.

Tax Audits for Individuals with Turnover between 1 Cr to 2 Cr are to be counted for the purpose of 60 Audit Limit. Audits below 1Cr will not be counted as 44AD Audits are excluded from limit. However i have doubt with regard to Turnover between 1 Cr to 2 Cr.

Hello
Which clause is applicable for audit above 1 cr in 3cd report? 44ab(a) shows t/o exceed 1 cr in 3cd format!!

Thanks

SIR,
LAST DATE TAX AUDIT FOR PARTNERSHIP FIRM F.Y. 21-22.

Hi, Foreign exchange rate variation risk is applicable for Buyers credit and LC transaction? For cover exchange rate risk under buyers credit whether we have to go for additional risk cover mechanisms?

If assessment is pending or completed then assessee is not eligible for filing updated return.

If assessee received intimation having some demand then can it be said assessment is pending or completed and assessee is not eligible for filing updated return?

If assessee file updated return and disclose some additional income which are eligible for deduction under chapter VI A, can assessee claim it by disclosing additional income in updated return?

Dear Sir/Madam,

Is TDS applicable in Import expenses (CHA) where subcontractor given bill in name of Importer including GST. GST input taken by importer. CHA have paid to the Subcontractor on behalf of Importer.

Kindly reply.

Regards
Jainath Sharma
9867058578