Dear Experts,

An individual, who was a partner in a partnership firm has received an immovable property from
the partnership firm on account of dissolution on 31/10/2006 at book value.

Now the said transferred property is getting sold by the receiving partner. In this case what will be the cost for the purpose of capital gain - Book value OR cost to partnership firm on purchase of property. Purchase made in July 2000.

Please advice

Regards,

Hi Experts,

I have the following query.

Suppose If I sell a house property in May 2024, and if the purchase of a new house property takes time, what is the time limit for depositing the Capital Gains in CGAS Scheme. Should I have to deposit the CG before July 31st 2024 or 6 months from the sale date which will fall in Oct'24.

Thank you

T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances under section 10(14)'. (CORRECTION FILE)
HOW TO SOLVE ABOVE THE PROBLEM.

Scenario: In a financial year, there are previous bills to the contractor each less than Rs. 30,000. A single subsequent payment is made to the contractor exceeding Rs. 30,000, but the total payments made throughout the year (including the one exceeding Rs. 30,000) don't exceed Rs. 1,00,000.

Question 1: Under Section 194C, for the payment exceeding Rs. 30,000, should TDS be deducted only on the amount exceeding Rs. 30,000 or on the entire amount paid to the contractor so far?

Question 2: In this scenario, considering the total payments remain under Rs. 1 lakh for the financial year, would TDS be deducted on future payments to the same contractor even if the individual bill amount stays below Rs. 30,000?
Note: Here single bills are assumed to be from different contracts.
i am of the view that answers to both of these would be in negative because 194C (5) says: "No deduction shall be made from the amount of any sum credited or paid or likely to be credited or paid to the account of, or to, the contractor, if such sum does not exceed thirty thousand rupees"
This to me means that Deduction is prohibited from any bill (previous or future) if it does not exceed 30000 subject to the yearly 100000 threshold.

Sir/Madam

My monthly PF and pension deducted by private company in the year 1993 onwards to till the date. My pf balance correctly shown in EPF web portal but pension balance is not show online.

In present company. Company has own PF Trust and presently pf maintained by my present company. I contact to PF dept. for pension balance is not show online in EPF web portal then he inform me that your employer will update online.
I also informed to my HR Dept. regarding that and he inform me pension balance will be updated by EPF Dept. based on Annexure "K".

I am little bit confused what to do??

Please suggest to me at the earliest.

we have received turnover discount from our vendor of Rs 15,00,000/- and they have adjusted the amount in total balance payable, how should we pass this entry in our ledger

My grand father died without leaving any will and he had 3 children ie 2 son and one daughter. My father and my uncle are living on one plot (half part each) on the name of my grandfather. Now my father want to distribute this half part plot to we 2 sons of my father. Further my father is not having good relations with my uncle and my father’s sister. Now how to distribute this part of plot in name of we 2 sons without bothering my uncle and father’s sister. Please guide.

If a trust, such as an educational foundation, receives a donation in the form of cash from a private limited holding company as part of its Corporate Social Responsibility (CSR) activities in India, and it has been utilized for the objectives of the company. Whether Form 10BD Need to file or not. it is sufficient to file form 10BB only. Kindly clarify it.

I need to raise an invoice for sales commission. What is the rate of GSt applicable on commission? Is there any HSN code which I need to mention on the invoice? Please guide.

T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances under section 10(14)'.