Gross Receipt Professional Charges Rs 12 Lacs + SB Intt Rs 1620 =RS 12,00620

BOOKS OF ACCOUNTS ARE NOT MAINTAINED
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Professional Charges under Section 44-ADA Rs 6 lacs @ 50% of total professional receipt.

Can we file the ITR-4 under section 44-ADA

PLEASE GUIDE ME AND OBLIGE

Sir/ Experts,

I draw EPFO (Employee Provident Fund) Pension and get ICICI Prudential Life Annuity.
Is this amount eligible for deduction under Standard Deduction for FY 2025-2026 (AY 2026-2027) in the new Tax Regime ?
Appreciate response.

Best Regards, Krishna

sir/Mam,

One person taken gst registration, he is small dealer paper plates, plastic item sale shop now My question he want to files his on estimation basis not he will cut bill to person His item product is 18% but he want to file on estimation basis @1%

Please guide gst returns monthly basis sales @1% where to show

Thanking you,

Can we claim last year TDS ?
TDS deducted on FD interest - 20% (as per PAN ADHAR NOT LINKED) - FY - 2024-25
Now, I am filling return for FY - 2025-26 and I want to claim TDS deducted along with FY - 2024-25. I have not filled IT return for FY - 2024-25.
If answer is yes then let me know how?

Hi Everyone,

A company is creating a provision at year-end for long-term service awards based on actuarial valuation (future employee payment liability).

For tax purposes, we are currently:

* Disallowing the provision by adding it back to book profits, and
* Claiming deduction only when actual payment is made to employees.

However, the Statutory Auditor is suggesting that the provision should not be added back to net profit.

What is the correct tax treatment in this case?
Also, which section of the Income Tax Act, rule, or judicial precedent supports the treatment?

The taxable value of the assets is ₹10,00,000, with GST amounting to ₹1,80,000, making the total invoice value raised by the supplier ₹11,80,000.

During payment processing, it has been observed that the department has proposed to deduct Liquidated Damages (LD) of ₹50,000 on account of delay in the supply and installation of the assets.

As per my understanding, TDS under the Income Tax Act @2% and TDS on GST @2% should be deducted on the original taxable value of ₹10,00,000.

However, my reporting officer is of the view that TDS and TDS on GST should be deducted on the taxable value after adjusting the LD amount, i.e., ₹9,50,000.

In my opinion, Liquidated Damages are in the nature of compensation for delay and should not result in a reduction of the taxable value of the asset for the purpose of TDS deduction. Please suggest.

I passed the CA CPT examination and registered for CA IPCC in 2012. I appeared for the IPCC examinations until 2015 but could not pass. Now I want to resume my CA studies and appear for the CA Intermediate examination under the new scheme. What should I do?

Hello CA Club India.

I purchased a piece of land through a developer for X Lacs a few years back. The piece of land (plot) was registered in my name by the Sellers who were the direct owners of the piece of land, not the developer. The amount in the registered deed is Y Lacs which is less than X.

The developer has provided receipts for the X Lacs and given details of plot number etc. but as they are the developer they didn't show the payment made to the direct owners.

Now, as I am selling the plot, my CA is telling me that the cost would be Y not X which was paid to the developer. The developer received X Lacs which included developing the land (roads, demarcation, water supply, electricity etc.) However, as there is no indication of direct payment to the land owner, the CA is not able to provide me a plan for the LTCG.

How do we compute the LTCG in this case? Based on X Lacs which was actually paid by me or Y Lacs for which the registration was done.

Regards.

Hi

where we can show free lancer income ?
which ITR is perfect for free lancer income?

any income limit under free lancer ?

anything need to take care while showing free lancer income?

What documents are required to be submitted for applying a new TAN for a partnership firm, if signed through DSC ?