good morning members !

I received notice u/s 148 from IT Department on behalf of my deceased client as my e-mail id has been provided at registration time.
Legal Heirs are not in India and no contact with them.

Should I response on behalf of my client to IT Department regarding served notice ?
If yes, then what it should be ?

Thanks & Regards !

Hi All

One of my clients has invested in shares of unlisted company. This year they have transferred these shares at free of cost. What will be the treatment of loss as per income tax act? Wht entry is to be passed in the books of accounts for the same?

Kindly let me know if The certificate after passing online GST certification course by caclubindia is valid for registration as GST Practitioner

Dear Sir,

There are some clients for whom I maintain shares accounting by passing entries in Tally and show capital gain, loss entries too.

The process which I follow is first we pass each and every Purchase and Sale bill entry in a separate software which helps me to give capital gain or loss report along with number of shares held by the client.

Next, we match the debit and credit values of software report with the ledger account given by the broker and finally the number of shares as per software report with the demat account provided by the broker.

Once all of the above matches, we pass the closing balances and gain, loss entries of the shares (as generated by software report) in Tally.

The above process is too long and it takes lot of time. Is there any other way I can do accounting of shares.

Please help me in this matter. I have to maintain their books of accounts along with Share investments they do.

Regards,
Divyesh Jain

Sir,
A professional income sec 44ab it person Gross receipts collections from patients rs:2.50 crores up to February-22.if profit estimated rs:25 lacs in f.y.21-22.
Question:
Assessess advance tax purposes payment on estimated profit rs:25 lacs correct in it act or estimated profit any increased compulsory.

How to know Dividend Income on 12 March 22 if I hold Listed shares for particulars Company,
Please provide expert Knowledge . for Advance tax computation.

Dear Expert,

Recently i got form 16 from my Employer. In that Form 16 Employer PAN No is mentioned is wrong. Could you please tell me how to correct the form 16

Regards.
Shashi

DEAR SIR
MR A OWN LAND 6000 SEQ.FT AGREEMENT TO MR B (BUILDER) ON 5.4.2019 THE MR .B 10 FLAT CONSTRUCTION COMPLETED AND HAND OVER 4 FLAT TO MR A AS ON 10.2.2022 ( PERCENTAGE OF 60 : 40). MR A CAPITAL GAIN TAX APPLICABLE ON 4 FLAT.

THANKS

Sir,

During the financial year 2020-21, I have paid Rs. 225000 as registration charges in respect of land through online mode from the company bank account. the said amount was debited from the bank account, but was not received by the treasury. So as per the discussion with the concerned official it is being said that in order to complete the land registration formality fresh payment should be initiated and the amount already paid will be refunded later. For completing the registration, I have made fresh payment. But the said amount was not refunded till the close of the financial year 2020-21 (ie, on 31-03-2021) and was refunded on 16-04-2021. Confirm under which ledger payment of Rs. 225000 should be accounted in the balance sheet which was refunded only during the succeeding financial year.

I am filing form 26QD through HDFC Bank ENET Portal after login it shows Invalid Assessment year. I am not able to pay tax.

The Form shows Financial Year and it auto populates after entering Date of Payment.

Can anyone assist.

Also request you to assist which Challan No 280 or 281 will reflect in Tax Payer Counterfoil.