We have a section 8 company with share capital. Its member are willing to transfer its share to another resident individual at fair market value, which is higher than the share par value. How this will be taxable in Income Tax? Is there any exemptions or another exclusions for share transfer of section 8 company. Do you have any judgement for share transfer of section 8 companies.

Hi All

GSTR-2B is showing credit of FY 19-20 in Nov 21. Can I avail this credit now?


Thanks in advance

Dear Sir / Madam,

Form 10 IC was filed for AY 2020-21. Is it required to file Form 10 IC again in subsequent AYs?

Regards,
Suraj

My wife inherited my mothers gold and diamond jwellery after her death. How will she show in income tax return? How jwellery will be shown in balance sheet? Please advise? Will we need to keep any documents?

Hello
I am a yoga teacher, teaching in the space in our big house.
I have a Msc in yoga.
For the income i get should I file ITr1 by considering the whole income minus expenses.... or can i file ITR4 by considering 50% as income under Presumtive taxation.
In ITR4 i dont find yoga as a profession. Only Ayurveda siddha kind of professions are listed.
Please reply.
LivingYogaCentre

Our company (which is in India) provided a loan to the American subsidiary for a period of three years. The interest we are charging on monthly basis.

For adjusting loss/gain against exchange rate, against interest amount we are making necessary provision against unpaid amount.

The loan period is for 3 years, whether yearly we have to disclose the impact of currency fluctuation on the principal amount in our financials?
Also request to confirm procedure followed against interest income is correct?

Sir
My one client is registered contractor with PWD . He is engage in road works contract. For that works contract He has taken GST Registration under regular scheme. So he has to pay GST at 12 % . Now he want to start private labour supply work & for that he is going to open new
another proprietor firm.

I have question that,
1) can he opt new another GST Registration for new another proprietor firm under service providers composition scheme u/s 10(1) of CGST Act ?
2) he will eligible for 6% GST Rate ?
3) Any effect on or of regular GST registration ?

Sir please reply. I am waiting for your valuable reply.

SIR,
It assessee individual returns filed.assessee some amount transfered(investments) to a partnership firm.
Question:
assessee individual accounts it returns amount transfered to partnership treated investments or bebtors head of account show in it returns.

on previewing the return after confirming all required schedules, when i preview the return in the general information schedule my first name is followed by my last name, pan, mobile number and email id. all this is displayed in the first name column whereas when i check in my pre filled data and also the information in my login on the income tax login, the details in the general infomation are correct

Dear sir/mam

I am unable to upload the filled in and validated ITR2 in the income tax new portal due to the following reason -

During upload, website indicates - (Maximum exemption under section 10 is Rs 20,00,000/= only). I had a Form 16 issued by my employer, where the exemption under section 10 is 23,29,104/=

THE EXEMPTION figures are also populated in income tax pre-filled data.

ITR2 is getting validated after filling up, but upload is not possible.

Is there any way out?

Thanks & regds
Ardhendu Dan
Contact - 9435120598