Hi Experts,
My Flat was unoccupied for 2 years and then we had incurred huge costs for Renovating the property & also the society asked for some structural building work for mandatory repair.

For last 9 months in FY 22-23 my flat is now been rented out but now how do I deduct above costs for its tenantable state?

Thanks,
DM

The firm having 5 partners. This situation, we are calculated and paid the interest on capital to only 2 partners capital. Is eligible U/s. 40(b) to give interest on capital to that 2 partners.

A Indian company is having 100% owned Foreign Subsidery.

There is a Loan given by HOLDING to Foreign Subsidery. Now Subsidery is sick and out of business and under liquation process in Foreign country ( as per local laws)

Need to understand the impact in HOLDING company books.
a) Under what Heading Holding company have to provide in books
b) Is there any pre or post restriction in FEMA / RBI Permission
c) Is there any other options to mitigate the losses.

Dear Sir/Madam,

Request to kindly clarify the following query,

If a GST registered company availing security services from a GST registered Security service provider whose company is a proprietorship firm and providing us a GST invoice need to also file RCM, as we are already claiming ITC for the gst invoice provided from the security agency.

Thanks in advance.

Regards
Accounts Department
SSBJPL

if assessee having two business income

1) income from trading of goods
- Turnover is below 1cr
2) income from future and options - Turnover is below 1cr


* 12% profit from Trading of goods
* losses from future and options


Previously ITR filed under 44AD

Please advise me that we need to audited our books of account to claim of future & options

I purchased an immovable property the value of which is more than 50 lakhs. All payment is done by me (from my savings) and from my bank account. I make my spouse my co-owner and therefore the property will be registered in the name of both. My spouse is housewife and does not have any source of income. My confusion is whether I have to file two 26QB for myself and my spouse or only one 26QB in my name ?
Next if I have to file only one 26QB in my name then how I will answer the question "Whether more than one buyer - Yes/No" while filing 26QB?
Please suggest and thanks ...

SIR,

WHICH ITC CAN CLAIMED IN GSTR 3B IN TOTAL FINANCIAL YEAR (I.E FY.2022-23) GSTR 2A OR GSTR 2B.
SO,WILL THE MARCH BILL BE ENTERED IN APRIL.
THERE WILL BE NO PROVISION ENTRY IN THE BILL FOR THE MONTH OF MARCH. THEN HOW TO MAINTAIN BOOKS OF ACCOUNTS.

Dear sirs,

Just wanted to know some information

One of the individual assessee is likely to receive money from foreign individuals from UK USA etc for his personal support etc inturn he would like to support individuals in India for charity work of family support.

Wanted to know what is the limit that he can receive from foreign individuals as personal gift who are not relatives.

Is there any tax implications on such gifts.

Appreciate your suggestions and guidance.

Partnership Firm filing ITR-4 (no other ITR option available) with presumptive tax regime with 6% income. How do I deduct partner remuneration from gross income? Only donation and political party deductions are allowed. Unable to change from ITR-4 to ITR-5. Last year filed ITR-4. No partner remuneration was given then so I never faced this.

Dear Sir/ Madam,

A person is working as Freelancer in recruitment field. I carries out all the functions of recruitment. However his income is infrequent. TDS is deducted u/s 194JA. He doesn't maintain any books of accounts. Total Gross receipt is Rs. 197143/-

Can we show this income under presumptive taxation u/s 194ADA?

Kindly guide.
Thanks & Regards,
Suraj