1- Can ITC be available on purchase of a four-wheeler motor vehicle if it is solely purchased to give it on a contract basis to companies?
2- If it is used as Taxi and given to companies on a contract basis.

I had purchased residential flat in Bangalore recently . The flat was worth of 56 lakhs all payments were cleared. After few months builder called and asking for GST on it.

He says its 18% GST as it is a under construction flat.
There is no Possession certificate, but electricity connection was obtained . As per builder electricity connection to flat itself is the possession certificate.

I had paid 31 lakhs out of 56 lakhs before electricity connection .

is it liable to pay 18%GST on it?
First of all is the GST 18% valid for residential under construction flats?

Hello sir ,

My wife is salaried and having income of 7 L . She have purchase Mutual fund (SIP ) of Rs 3 L but not yet sell anu Mutual fund .
She have also income of 2 L from intrest on saving and FD .
Which from should we choose ITR1 as MT not yet sale ? Or ITR2 ?

We have filed ITR 1 on 8th july but not yet process so raising this question. As ITR1 generally getting process in 1 or max 2 days .

I already have a business which is registered under GST(proprietorship). Also, I run coaching classes alongwith my other business which is completely unrelated to it. Am I liable to collect/deposit GST or file GST returns for the coaching classes as well?
Also, can I show coaching classes under Income from Other Sources in ITR if I earn roughly same amount from them as my primary business or Do I have to show it as Income from business only?

Dear Experts

Who all are have to file form 10IEA, Can we file after the ITR filed also. Or else form 10IEA is only for those who all are filing ITR 3?

Thank you
Vijith T K

Hi,

My father has sold agriculture land in rural area. there is no other income.

1. Which ITR is to be filed?
2. whether it is required to show in ITR?
3. Whether i have to show this sales proceeds ITR?
4. Which document is required as a proof as land is in rural agriculture land?
5. How to prove the distant to fulfill condition of Rural agriculture land.

A bank account is prevalidated on ITD website. It shows "Restricted Refund". what does this mean? Is the amount of refund restricted to some upper limit or is there any other implicatoin. Please guide. Thanks

Sir, One of my client, as he has got some good discount offer to buy the car and as he was pressurized by the banker to take the delivery of the car by so and so date, though he has not having money in the bank at that time, due to good offer, he has gathered the amount in cash from his friends circle and deposited the same in to his bank account and completed the car deal and that of Rs. 15,00,000 cash deposits are reported in the ATS/AIS/TIS accordingly. He is only a salaried employee and all of his salary entries in the bank are in electronic mode.
Now the issue is, I can not show as advance/loan received in cash from friends? so any solution to come over this cash deposits issue sir

I have given 10 lakhs to my party as unsecured loan. Since the last 3 years, he is deducting TDS on the interest amount and paying it to the govt, and he is adding the interest amount to the principal amount.
Now for the current financial year, he has still not paid the TDS amount to the govt.
How do I file my ITR now ?
Should I add the interest amount to my income, and when should I claim the TDS amount in my ITR ?
Please guide. It is urgent as only 2 days left for filing ITR.

I have filled ITR for AY-24-24 without claiming EQUITY AND F&O LOSSES in orginal ITR before due date in the absence of information. Can I claim such losses into Revised ITR after due date?