in January 2025 - worth of Rs 8100 ITC invoice uploaded to my GSTIN it was ineligible so reject that ITC / invoice from IMS, later in march 2025 for same invoice debit note was uploaded by mistakenly i was unable to reject that debit note... so extra 8100Rs tax amount debited from my credit ledger balance. so how i take my extra debited 8100 tax amount?

Is it EBITD or EBIT to apply the formulae.

Dear Sir,

A Pvt Ltd company applied for Fully certain Fully Convertible Debentures of B Pvt. Ltd. on which 150lacs was due on application and allotment and 150 lacs on 1st Call.
A Pvt. Ltd paid 150 lacs on application but failed to pay call money of 150 lacs despite repeated reminders and B Pvt Ltd as a consequence of non payment of call money forfeited the 150 lacs paid on application and allotment.

Queries:
1. For B Ltd is it a capital profit hence not taxable.
2. For A Pvt. Ltd. what is the accounting treatment of debenture application money of Rs 150 lacs forfeited. Can it be claimed as loss and A Pvt. Ltd. and can take tax benefit on it.

3. What if a third company C Pvt Ltd wants to take over/merge with A Pvt. Ltd. can it take tax benefit of loss in the books of A Pvt Ltd on account of loss on forfeiture of debentures and carry forward the loss up to 8 years

Please share your views.

Thanks
PC Joshi

Bit of an off-topic one, but I figured someone here might have experience with this.

I’m currently wrapping up a research project and need some help polishing the language and structure. I’ve been searching around and found tons of companies offering editing services, but I want to make sure I go with a reliable manuscript editing company — preferably one with experience in handling research papers and theses.

Has anyone here used a professional manuscript editing service before? Would love to hear your recommendations or any to avoid.

Right now, I’m leaning toward one that markets itself as the best manuscript editing company — they’ve got some good reviews and specialize in science and engineering work, which is a bonus for me.

Currently Suggested: https://www.manuscriptwriters.com/

Appreciate any input!

I HAVE INVESTED IN UTI MUTUAL FUNDS ULIP PLAN OF 15 YEARS WEF 07.10.1993 TO 07.10.2008
iNSTALLMENT PAID EVERY YEAR RS.3000 X 15 YEAR = TOTAL AMOUNT INVESTED RS.45000/= 9TARGET AMOUNT)
I HAVE DONE REDEMPTION ON 24.04.2024 AND RECEIVED RS.450032.76
I AM SENIOR CITIZEN (77 YEARS

I WANTED TO KNOW THAT THIS AMOUNT IS TAXFREE OR I NEED TO PAY ANY LONG TERM CAPITAL GAIN WITHOUT ONDEXATION OR WITH INDEXATION.
REQUEST YOU TO PLEASE GUIDE ME PROPERLY

An individual likely to join a consulting company which do not allow employee and their family members to invest or trade in stock markets directly. Family members of the individual has investment in stocks and trade in stocks actively. What option is left for the family members of the individual to keep their investment in stocks and can trade in stocks. Please suggest the option to keep their investments and trading in stocks as per law and manageable manner. Partnership firm of family members or HUF ? In partnership firm, stocks can be kept in DMAT of partners account and trading account can be in the name of partnership firm. Please advice the way and option.
Thanks in anticipation.
Regards

Hi,

We are purchasing a flat in Mumbai for which we have entered into an "Agreement for Sale" with the seller. We have paid stamp duty on the "agreement for sale" as per market value and registered the agreement after paying registration fees of Rs. 30,000/-.
Now we have paid the entire consideration to the seller and taken possesion of the flat and now we are making the "Sale Deed" for this property.
What is the amount of stamp duty now payable of this "Sale deed" since we have already paid SD as per MV on agreement ?
Also what is amount of registration fees now payable for registrering this sale deed as we have already Rs. 30k on the agreement.

Thanks
Niki

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I have received refund from the builder basis order of NCDRC. The refund includes principal which I had paid him 12 years back PLUS interest @12% for the 12 year period. He has deducted TDS on Deposit @10% which I have protested. I understand that either there is no tax on such interest OR at best capital gains tax for which there is no TDS applicable. Please help.

Understanding of goodwill, I want to ask if partnership firm readjust share ratio.
Suppose firm average Net profit 12 lakh after partner's interest on capital ( 10 lakh).
So, question is that in goodwill calculation
Average Profit X year purchase ( 3 years)
ie 12 lakh x 3 year = 36 Lakh
Or
(Average profit + partners interest on capital) X year purchase
ie ( 12 lakh + 10 lakh) X 3 year = 66 lakh
Which method is correct.
Please solve the query.