Dear Sir,

One of my client is an Indian Resident earning Salary Income in Kuwait and is an NRI for F.Y. 2022-23. Under which head can I show his salary income and how will be the tax treatment while filing his Income Tax Return.

Please help me in this matter.

Regards,
Divyesh Jain

We Have Paid india mart for Sales Promotion 1 lakh rs.
is there any tds liability for payment to India Mart For Sales Promotion .
if Yes What Rate TDS to Be deducted ?

we r exporter of goods and we file itc refund without payment of tax , my question is while gst refund application at Computation of Refund to be claimed (Statement 3A) (in INR) section there is two section : Turnover of zero rated , supply of goods and services(1) and Adjusted total turnover (2)
my question is we should mention fob value or cif value at at section 1 & section 2

Sir/Madam

I have one query regarding contribution made by employer to NPS of Employees.

Please clarify foll. doubts-
> NPS contribution can be deposit by employer in NPS account created in one of the nationalized bank?
> Separate NPS account to be created in bank or nsdl for NPS Contribution to be deposit by employer??

thanks in advance.

Hi,
Can anyone help in providing me the business code for Jewellery Hallmarking service while filing income tax return for the AY 2021-22.

When a sale of property is cancelled for which an advance amount was already given and the TDS corresponding to that amount also paid, should the 26QB be corrected first before applying for the TDS refund?

Dear Experts,

We are Looking for a CA preferably in and around Chennai or Tamil Nadu to Sign on our Client's Balance sheets ( 90 % Non Tax Audit Cases simply filed under section 44AD of Income Tax Act basis the Presumptive Taxation)

Kindly send a Personal Message or answer through this query please.

While filing NDH 3, it shows an error that value is not as per the last NDhH 3 filed whereas all the details are matched with last form filed.

Dear Sir,
In June 2021 (F.Y. 2021-22) the assesse purchased a property under section 54 of the Income Tax Act, 1961 so as to avail the exemption from long term capital gain tax on transfer of long term capital asset. However the property was purchased in the name of the grandson and not in the name of assesse. Grandson showed it as land received as gift from grandmother (assesse) in his books of account in the F.Y. 2021-22 however no gift deed was executed. In Jan 2023 (Previous F.Y. 2022-23) the assesse died and the grandson on whose name the property is purchased by the assesse in June 2021(F.Y. 2021-22) wants to sell this property in July 2023 (i.e. after 2 years of purchase in current F.Y. 2023-24).

Question 1 – Kindly suggest the correct accounting treatment:-
Option A - Whether the above accounting treatment done by the grandson in his books of account in the F.Y. 2021-22 was correct?
OR
Option B - Whether the land purchased even in the name of grandson should have been shown in the books of assesse only in the F.Y. 2021-22 and the same should have been shown as inherited property in the books of grandson in the previous F.Y. 2022-23 on the demise of the assesse?

Question 2 – The gain arising on the sale of property by grandson in future month July 2023 (i.e. after 2 years of purchase of property) will be termed as short term capital gain or long term capital gain?

Question 3 – If the answer to question no. 2 is long term capital gain than whether the grandson is eligible to claim exemption u/s 54 if he further purchases a new land from the proceeds of capital gain arising from the sale of property(shown as received land as gift from grandmother in F.Y. 2021-22) as the property which he selling though was purchased in his name however not even a single penny was spent by him for its purchase whole of the amount was spent by the deceased assesse only i.e. if the gain is long term capital gain arising from the sale of property not purchased from own money than whether this gain is eligible for claiming exemption u/s 54.

Question 4 – The sale of property by the grandson (which was purchased under section 54 by the assesse in the name of grandson) within 3 years of purchase whether will be termed as contravention of section 54 i.e. transfer of land purchased under section 54 within 3 years of its purchase. So in this case whether the grandson will be liable to pay short term capital gain tax as the assesse who had spent the amount for purchase of this land under section 54 has been died or whether there will be no tax implications in the hands of the grandson. The computation of short term capital gain u/s 54 will be done by deducting the capital gain claimed as exempt under section 54 from the cost of acquisition of the land purchased under section 54.
If possible, I humbly request to please provide the relevant provision or case law used as a basis to provide the answers for my query.

Regards,
Shruti Agarwal

if gst is applied in same pvt ltd company form spice+ form , then gst no. takes 3 months to come?
new companies dont get gst immediately, right?