Where ITC on capital goods is fully utilise in 4 years, is liability arise for reversal of ITC on capital goods??
If yes as per which provision?
If monthly ITC utilise is more than ITC reverse which is only of capital goods ??
than which action to be taken according to law?

One of our client paid TDS for the month of April 2026 on 07.05.2026. By mistake they selected the Financial year 2025-26 in the 1961 IT coloumn instead of Income tax 2025 Tax year 2026-27. Please let me know how to correct the challan for the current year. Please advise.

Dear Sir,

This year we are going to receive long-term capital gain from our overseas investment in shares.
Also, this year I am building a new house, but the land is in the name of a company in which I am a major shareholder. In past, due to the land sealing act, we distributed land in different Private Limited Companies in 1975. The MOA of the company is allow to use of this land to build a house for residential purposes.

My questions are :
1. Shall I get a benefit to save capital gain tax u/s 54. ?
2. If not, can I do a joint agreement with the company and get a benefit to save Capital Gain Tax ?

Please advise.

Best regards
Girish





,

Is there any change in existing TDS rate for section 194M under income tax act 1961 corresponding section 393(1) (Sl No 6(ii).

As of now it is 2% (reduced from 5%, wef 01.10.24)

PURCHASE TAXABLE VALUE OF PRODUCT 5000
TAX 200
INVOICE AMOUNT 6200
DISCOUNT 6200
INVOICE VALUE NILL
“Will this taxable value of 5000 be shown in purchases? And then, will the final discount be shown in indirect income, or will the purchase value directly become zero in trading? Thanks in advance.”

What happens if ITC on capital goods liable for reversal is not reversed and the ITC continues to be utilised for 5 years, and the remaining ITC is reversed only after completion of the 5-year period?

Further, If ITC on capital goods liable for reversal is reversed only to the extent available in the electronic credit ledger/portal, whether the remaining ITC can be reversed later upon availment/utilisation during the 5-year period applicable to capital goods?

Our https://takemyteasexam.us/ helps students in TEAS exam company based in United States of America.

I had gifted some shares to my wife. She sold these shares and also received dividend on these shares. TDS was also deducted on the dividend. All these transactions are showing in her AIS and 26AS.

How do I treat the capital gain, dividend and TDS in IT return?

Employer (Partnership Firm) is paying school fees every year for the children of a deceased employee. Can the employer claim this expenditure as a deduction under the Income-tax Act for every year during which such ex-gratia/compassionate assistance is continued to the legal heirs of the employee who died while in service? If yes, please share the relevant provisions/rules for record purposes.

Dear Experts,

What is the most practical way for a Private Limited Company to raise funds from friends, family, and individual investors with minimum legal compliances in India?

Kindly share the suitable fundraising structures and the procedure involved.

If any practicing Company Secretary is interested in assisting us with the fundraising process, please connect with us on WhatsApp at +91-9928598454.

Thank You,
I appreciate your help.