In case of transmission of electricity whether deduction on the basis of ROE can be claimed as no separate books are maintained for asset addition during the year.

I HAVE FILED LAST YEAR (AY 2024-25) RETURN UNDER OLD TAX REGIME , FOR THIS YEAR I AM FILING UPDATED RETURN UNDER OLD TAX REGIME BUT THE ERROR IS SHOWING BY SOFTWARE THAT " DEAR USER, ORGINAL RETURN WAS NOT FILED FOR THIS AY , SO YOU WILL NOT BE ABLE TO PROCEED TO FILE UPDATED RETURN U/S 139(8A) WITH OLD TAX REGIME" SO IN THIS REGARDS PLEASE PROVIDE ME GUIDANCE HOW TO PROCEED....

Sir/s,
one of my client is (1) hired Tipper to foreign country BHUTAN, is it applicable for GST or exempted, since services are giving at BHUTAN,
(2) whether ITC eligible or not on said Tipper purchases, since after purchasing said Tipper sent to BHUTAN country by road, and services are giving at BHUTAN, after 11 months Tipper will back to India

please inform me

I have filed appeals before CIT (A) under Faceless Scheme. I am receiving notices from JCIT(A) with their individual name, designation and location instead of using NATIONAL FACELSS AUTHORITY. Are there any changes in the scheme. I am under the impression that the main purpose of faceless scheme is to avoid identity and direct interaction. Pl clarify.

I have certain debt mutual fund units bought before 1st April 2023. Currently if this units are redeemed then they are taxable at 12.5% flat without indexation (let me know if understaning is correct).
Can I sell these units and its LTCG can be used to purchase a residential property claiming exemption under section 54F?
Suggest me a way to go for least tax liability.

Our client's Assessment Proceeding raised a demand under section 143(3) FOR A.Y. 2024-25 and the demand amount is the same as the refund given. They did not consider TDS. Can we file a rectification of return as per section 154?

I invested 1.5 lakh in FY 2023-24, in FY 2024-25 after holding more than a year, I redeem them with profit of 46,000. Now when I check it in MFcentral.com it shows the gain under STCG. International funds redemption and tax calculation is little bit different.
My question is will this be part of my short term equity gain(as mention in mfcentral) or will be considered as short term gain under debt funds? In case of debt fund. will this get added to my taxable income or there will be any fixed tax rate (percentage) applicable on this redemption.

Dear Sirs,

We seek your clarification regarding issuance of a credit note under GST for AMC services.

The original tax invoice for AMC services was issued on 30.04.2025. We are now proposing to issue a credit note towards AMC / warranty-related cost adjustment.

Our understanding is that, under GST provisions, a credit note may be issued beyond six months of the invoice date, subject to the time limit prescribed under Section 34 of the CGST Act (i.e., up to 30th November following the end of the relevant financial year or the date of filing of the annual return, whichever is earlier).

However, we would like to confirm whether:

A GST credit note can be issued for the above transaction at this stage, and

Whether GST adjustment is permissible in case the credit note pertains to warranty / AMC-related cost.

Dear Sir,

We have one Private Limited Company. Once the Director is also a shareholder in the company and has 50% shares in the company. The director has given a loan to the company for business. The same loan has been reported in DTP-3 with ROC and in the Financials of the company, which disclosed with Income tax . The amount is around 1.50 crore.

Now the company is not in position to repay it and want to write of this amount in company's financial.
so My questions are :
1. What would be tax treatment in company . If this will treated under other income , and company have profit .... this profit can adjust against past carried forward loss ?
2. Director can claim it as business loss or capital loss in his personal tax return ?
3. If Director having other income during the years ....the business loss or capital Investment loss can be adjust again other income ? and can save tax ?

Request you please advise in this matter .

Best Regards
Girish Limbachiya

If more than 1 buyer in property purchase than what will be total sale Consideration amount in 26QB of each buyer total 60,00,000 property cost
same ratio 33.33 of partner