I want to know why a companies act 2013 does not permit companies to issue irredeemable preference shares I want to know the logic behind it.

The government has increased the GST rate to 18% from 12% wide notification number 15/21 Dt.18.11.2021 for government contractors.

our sales value is included a GST rate of 12%. as per the contract.

i.e. Sales value of Rs.100/-, 12% GST is included in the sales value means our sales value is 100-12 = Rs. 88

Now the GST rate is increased from 12% to 18% and our sales value is 100-18=Rs. 82

As a result, our sales value is decreased from Rs. 88 to Rs.82 and GST 18% on the difference of sales value of Rs.6.

we lost Rs.6 + GST 18% on the total contract value.

Please guide me how to get rate difference from the client.

Dear Experts,

I am deciding to include my "housing loan interest expense" to the "cost of purchase", as it is a significant amount of nearly 5 lacs. There are various judgements which point out to the fact that interest expense can be claimed if it has not been claimed earlier under sec 24 of income tax (loss from house property). My question is whether this total interest expense can be indexed, just like the cost of improvement.

Example:
Interest expense: INR 1 Lacs , year 2005,
Interest expense, INR 1 Lacs, year 2006
Interest expense, INR 1 Lacs, year 2007
Interest expense, INR 1 Lacs, year 2008
Interest expense, INR 1 lacs, year 2009

If say property is sold on 29th March 2020, than can take interest expense of 1 lac in 2005, as 1 lac x CII = 1 x (389/117) = 1 x (2.47) = 2.47 lacs.

And similarly for other interest expenses after considering CII.

Requesting your advice urgently .

Dear Experts,

Have received Dividend from Tata Chemicals after deduction of TDS but it’s not appearing in form 26AS. While filing Returns ( ITR2) how can it be reconciled as there will be a mismatch between the TDS amounts and delay in processing of return.

Thanks in advance 🙏🏻

If shares are transferred to wife as gift, then are all gains arising out of such transactions exempt under IT Act? If so, under which provision of the IT Act?

Loss from trade of option is considered which type of loss? Can we adjust interest income or business income from losses of option trading? Pl clarify with details?

Dear Sir / Madam,

Mr A has incurred losses in F&O during FY 2021-22. That loss would be treated as business loss. He is preparing P&L balance sheet. He also has short term capital gain and income from other sources.

Can he set-off this business loss against short term capital gain and income from other sources??

Kindly guide.

Regards,
Suraj

Can we availed ITC on capital Goods in one shot? If not, then in how many months or year?

ABC is a partnership firm. ABC has no sales during the assessment year 2022-23 as it's business is not yet started. But the firm has purchase during the year.

whether the firm ABC is laible to income tax return???

I have purchased 2100 share in nov 2019 by 158000 and sold 1500shares in Feb 2022 by 157000.how to show this capital gain in income tax because there are no option in income tax site of no of shares sold.if in next fy left 600 shares sold how to capital gain calculated.