Can we declare laboratory income u/s 44ada ?
and if yes then under Medical Services or Technical Services ??

Dear Members , I had applied firm name approval with ICAI (as proprietor ) and same got rejected and reason by icai is " due to The firm name proposed by you, is/are not as per our guidelines (Regulation 190)"
my name is Vishwasa B M and i applied as Vishwas B M and its as per As Per Point(I) i.e permitting the use as a firm/trade name a part of the name of proprietor .
whether its allowed , what to do in this situation ??

Hello Sir/Madam,
I have query regarding, Deductions permissible for section Section 57(ii) and (iii).
I have rented flat , I have done some repairing in that Flat (like Painting), For that I had spend Rs 1200.
can I claim Rs 12000 against Section deduction in section 57(ii) and (iii).

One Consultant, who is Individual and HUF and who is not an advocate has raised invoice without charging GST for his consultancy services, in this case should we need to charge RCM GST on this invoice. Consultancy may be of labour law or any type.

Dear all,

Our company has given one vendor a comprehensive contract for the design, material procurement, construction, and installation of a Biogas plant.

I wanted to know at what rate TDS will apply on such a contract type.

Thanks & Regards,
Ravi Konda

Hello sir, I work as a freelancer in a Crypto Casino site as a chat moderator

The total amount of transactions came to 1.5 lac for the financial year.

Now my question is do I need to pay 30% tax?

Hello All,

Can some one help me with the Foreign exchange revaluation entry

I have booked the gain/loss monthly , but am confused about the revaluation entry as on 31st March

Sir,
May I know whether there comes RCM liability on the payment given to farmers for rearing of day old chicks.

HI ALL ,

Can someone help to put some details for ITR , in which Medical allowance and Medical expenditure deduction to be done along with Deduction under Section 80DDB. What is maximum amount that can be availed in that .
both for private individuals and cG staff .

Tax payable for salary 7- 10(Age for 45 -60) and (60-79) how much is tax payable with all savings .

Hi,
I have a query regarding capital gain on residential house property (RHP).
Suppose I sell my RHP1 that I bought in FY 2018-19 for 30 lakhs, for 80 Lakhs in FY 23-24. The LTCG from this comes out to be approx. 43 Lakhs.
Now I buy a new RHP2 in FY 23-24 itself for Rs. 60 Lakhs and take exemption under section 54 for complete 43 Lakhs. 54 Condition is to hold onto RHP2 for 3 Years and construct it.

1. Suppose I get a good opportunity and sell RHP2 in FY 24-25 for say 85 Lakhs. The exemption under section 54 will be withdrawn. The capital gain on RHP2 will be short term of approx. Rs. 68 Lakhs. So i have to pay short term capital gain tax on Rs. 68 lakhs.
A) Do I need to pay any tax on the initial capital gain withdrawn of 43 Lakhs?
B) Do I need to pay any interest as the initial LTCG of 43 Lakhs arose in FY 23-24, but was now deferred and now being payed in FY 24-25?

2. Suppose I get a good opportunity and sell RHP2 in FY 27-28 for say 85 Lakhs after holding it for more than 2 Years but less than 3 years. The exemption under section 54 will be withdrawn. The capital gain on RHP2 will be long term of approx. Rs. 68 Lakhs. So i have to pay tax on long term capital gain on Rs. 68 lakhs.
A) Do I need to pay any tax on the initial capital gain withdrawn of 43 Lakhs?
B) Do I need to pay any interest as the initial LTCG of 43 Lakhs arose in FY 23-24, but was now deferred and now being payed in FY 27-28?

I know it is a bit extensive. Thanks for your help in advance.