Experts : 1 Days Post

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Suresh S. Tejwani

23 February 2026 at 11:16

Posted On : 23 February 2026

GENERATE E-INOICE IF TURNOVER EXCEED 5 CR FROM YODAY

IF MY TURNOVER EXCEED TODAY 5 CR IN GST , CAN I MADE INVOICE FROM NEXT 1ST APRIL?

Anil Khatri

23 February 2026 at 10:31

Posted On : 23 February 2026

Taxability in hand of employee

An employer transferred a company-owned flat to an employee for ₹10 lakh. Stamp value = ₹48 lakh Cost 30 lac bought 6 yrs ago WDV in books = ₹12 lakh Employer treats difference as business loss. Employee treats it as purchase transaction. What is tax implications for employee only

Dhirajlal Rambhia

23 February 2026 at 09:31

Posted On : 23 February 2026

In Reply To :

Fixed asset entry in tally

Record the gifted surgical instrument as a fixed asset in Tally at its cost of ₹80,000, using the father's purchase receipt as supporting evidence. This gift from father to son is tax-exempt under Indian income tax rules for relatives, and it qualifies as a capital contribution for the son's professional practice.

Debit: Surgical Instrument (Fixed Assets ledger) – Amount: ₹80,000.
Credit: Capital Account (under Capital or Reserves & Surplus) – Amount: ₹80,000.
Add narration: "Surgical instrument gifted by father, receipt attached, cost ₹80,000".

Dilip Khambete

23 February 2026 at 08:41

Posted On : 23 February 2026

Fixed asset entry in tally

If a father gifts his consultant dentist son a surgical instrument worth 80000 on starting of practice.how to record that as fixed asset in son's tally.
Father has purchased it and has receipt.
It is sons first itr 4 filing and son has no other fixed asset as he is doing his job as consultant.
Please tell

Regards

Dilip

R Hiremath

23 February 2026 at 08:09

Posted On : 23 February 2026

In Reply To :

Interest on Late of Payment of Liablity

Thank you for your kind response sir.

Aashok Kumar Sharma

23 February 2026 at 07:32

Posted On : 23 February 2026

In Reply To :

Interest on Late of Payment of Liablity

While Rule 88B(2) is the provision that technically governs payments made via DRC-03 for past omissions, you should argue for Zero Interest liability. Because Mr. A had a continuous and sufficient Credit Ledger balance, the delay did not result in a loss of revenue to the government.

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