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Krishna

20 January 2026 at 12:47

Posted On : 20 January 2026

GST Rate on Rent a Car Business

A person having rent a car business. Customer takes car on rent on daily basis, customer itself fills fuels & customer itself drives a car. It’s a self driven car. Is this service chargeable to GST 18% with ITC only or supplier has option to pay GST 5% without ITC ?

Sivaramakrishna MBA

20 January 2026 at 12:47

Posted On : 20 January 2026

TDS PROVISIONS FOR NRIS

Dear Professional friends very good morning.
my client who is now in UAE N Visited july 30th 2025 india and returned to dubai by august 21st 2025 now willing to sale a property in bangalore apprx 1.5cr, which the same bought for apprx 1cr as on 2022 coctber. so kindly share me tds applicability for NRI and other capital gain provisions In brief and value of capital gain in a nominal values. which section 194 or 195 of incometax act will be applicable for tds. kindly support us they are in dubai and not known provisions of these tax and statutory implications. thank you in advance for your utmost support and time spent for our querry.

Dhirajlal Rambhia

20 January 2026 at 12:26

Posted On : 20 January 2026

In Reply To :

POSH Registration

In 2026, POSH compliance is strictly enforced as a governance mandate in India. While there is no official "registration certificate" for the POSH Act itself, the term usually refers to the mandatory registration on the SHe-Box portal and the filing of Annual Reports.

Legally, you cannot backdate a new registration on the government's SHe-Box portal because the system records the actual date of submission. However, if your Internal Committee (IC) was already formed, you can use existing internal documentation to show past compliance:
Internal Formation Order: If you have a written order constituting the IC (signed and dated when it was formed), this serves as your primary proof of existence.
Past Activity Records: Meeting minutes, training attendance logs, and internal annual reports from previous years can demonstrate that the committee was active even if it wasn't registered online.
The "Register Now" Mandate: As of August 12, 2025, the Supreme Court and Ministry of Women & Child Development have mandated that all organizations must register their IC on the SHe-Box portal. If you haven't done this yet, you should register immediately to avoid being flagged as non-compliant.

Dhirajlal Rambhia

20 January 2026 at 12:21

Posted On : 20 January 2026

In Reply To :

Exemption u/s 10(23C)(iiiad) by ITAT

- ITR Format Issue
- ITAT has recognized that earlier ITR forms did not have a specific column for claiming exemption u/s 10(23C)(iiiad). Hence, denial on this ground is unjustified.
- Judicial Precedents
- Kumar Memorial Educational Trust vs ITO (ITAT Chennai): Exemption u/s 10(23C)(iiiad) allowed; denial by clubbing receipts of multiple institutions was quashed, amendment held prospective.
- Sri Govinddeo Educational Institute vs ITO (ITAT Kolkata): Tribunal emphasized that exemption cannot be denied when the institution exists solely for education.
- ABCAUS Case Law Citation 3736 (2023): ITAT deleted adjustment denying exemption u/s 10(23C)(iiiad) since no relevant column existed in ITR. (https://abcaus.in/income-tax/exemption-us-1023ciiiad-allowed-no-provision-itr-showing-computation.html)

Dhirajlal Rambhia

20 January 2026 at 12:19

Posted On : 20 January 2026

In Reply To :

Exemption u/s 10(23C)(iiiad) by ITAT

Yes, the Income Tax Appellate Tribunal (ITAT) has the power to allow an exemption under Section 10(23C)(iiiad) of the Income Tax Act even if it was not claimed in the original Income Tax Return (ITR), provided the assessee is substantively eligible.
Key legal principles and precedents supporting this include:
Duty of Tax Authorities: The ITAT has held that it is the duty of tax authorities to assist taxpayers in claiming eligible reliefs. According to CBDT Circular No. 14(XL-35), officers must not take advantage of a taxpayer's ignorance and should grant a benefit if all legal conditions are fulfilled, even if not specifically claimed by the assessee.
Alternative Claims: If an exemption under Section 11 is disallowed (e.g., due to lack of registration), the assessee can claim exemption under Section 10(23C)(iiiad) for the first time during appellate proceedings if they meet the criteria (e.g., being an educational institution existing solely for education with annual receipts below the prescribed limit).
Procedural vs. Substantive Compliance: Recent ITAT rulings (e.g., St Patricks Educational Society v. ITO, 2025) have emphasized that exemption under Section 10(23C)(iiiad) should not be denied solely on procedural grounds, such as failing to select a specific drop-down menu in the ITR or filing a belated return, as long as the aggregate receipts are within the limit.
Tribunal's Wider Powers: Unlike the Assessing Officer, whose powers are restricted by the ruling in Goetze (India) Ltd. v. CIT (which requires a revised return for new claims), the ITAT has the jurisdiction to entertain new claims that were not raised in the return if the necessary facts are available on record.

Dhirajlal Rambhia

20 January 2026 at 12:16

Posted On : 20 January 2026

In Reply To :

STCG on International Mutual Fund

Yes, you can balance your Indian equity mutual fund loss against your international mutual fund gain. While international funds are taxed at your income tax slab rates (if purchased on or after April 1, 2023), they are still classified as Short-Term Capital Gains (STCG) under the head "Capital Gains" (Section 50AA). Because both the loss (from Indian equity MFs) and the gain (from international MFs) fall under the same head—Capital Gains—you are allowed to set them off against each other.

jaya

20 January 2026 at 11:33

Posted On : 20 January 2026

POSH Registration

Hi,

just wanted to check, we have been asked by our business owner (we are franchisee) to register for POSH...just wanted to know can it be done backdated? we can show that we have ICC already formed but have not registered it under POSH..

Prashant Shah

20 January 2026 at 10:16

Posted On : 20 January 2026

STCG on International Mutual Fund

Few months back I book profit in international equity mutual fund. As it was invested around 14 months so it is STCG. Apart from this I sell some indian equity mutual fund with loss within one year which cause loss in short term.
As per my research gain on international fund redemption is going to be added in taxable income same as debt funds and this gain is not under capital gain consideration (correct me if wrong).
My query is can I balance my indian equity MF loss against international MF gain?
Or as this international MF gain is going to be part of my income and above indian short term loss need to get balance with my other equity LTCG and equity STCG?
Share your insight please.

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