I have filed the ITR2 in AY 2023-24. I have purchased the house property on joint name of my self & spouse costing Rs.2.40 cr by availing the housing loan. We both are salaried person having total annual income of Rs.37 lac pa.

Now I have received the notice. As there is no option in ITR to show the purchase of property transaction. I have deposited the TDS @ 1% on the amount paid to builder. Please guide what should be my reply to ITD.

Sir my client is a doctor with professional income around 36 lakhs. So he is filing ITR-4 under section 44ADA. during assessment year 2023-24 he purchased a flat worth 1.4 crores. Does he have to show or declare it in ITR-4 if so where? please clarify and guide us. Regards

i have trust i dont have 12aa certificate
i fill itr 5 with Status :AOP/BOI SUB STATUS: Trust other than trust eligible to file
return in ITR-7
WHAT WILL BE MY INCOME TAX SLAB
IF I SHOW ONE LAKH PROFIT IT SHOW TAX ABOUT 42000
PLESE MAKE REPLY

Can there be tow partnership firms with same partners and same profit sharing ratio, but with different business ?

Can both firm pay remuneration to partners based on their stand alone financial accounts applying limits of section 40(b) exclusively to each firm ?

Whether such firms are permissible under Indian Partnership Act, 1932.

Please guide.

is rcm applicable on ocean freight in case of FOB purchase ?

A buyer brought a property for Rs. 1,00,00,000/- and deducted TDS Rs. 1,00,000/- and paid to the government under 26QB.

Now there were two joint holders of sellers A & B. Now While filing and payment of Rs. 1,00,000/- TDS PAN of seller A was filed and not of B. That is instead of Paying 50,000/- with PAN of A and 50,000/- with PAN of B. The Buyer only paid Rs. 1,00,000/- with PAN of A.

Now I need to rectify the same. What is the procedure?

One suggestion I received was to pay Rs. 50,000/- more with PAN of B and then Apply for rectification for Rs. 1,00,000/- paid. Lastly after the rectification File for Refund of Rs. 50,000/-.

Can someone guide be to the whole process? How much time will it take and How much a CA will charge for doing the said procedure.

Note: The case is from Mumbai.

My client has taken franchises of British institute. Invoice is issued in the name of British institute but client collect the amount from student and client pay Royalty plus GST collected from student to British institute. Whether I need to register for GST? If yes, who will pay GST British institute or client?

Dear Expert

A manufacturer of wooden furniture, registered under GST as a composition dealer.
My queries are :-
1. Can he do the Job Works as furniture repair ?
2. What is the GST rate on this service.
Thanks

a company has imported goods on FOB basis but the custom duty and igst on goods imported has been paid on CIF value which includes ocean freight , ocean freight has been paid seperately to the FOREIGN vessel owner , MY QUERY IS WHETHER THE COMPANY IS LIABLE TO PAY GST ON RCM ON OCEAN FREIGHT ALTHOUGH IT HAS PAID IGST ON CIF VALUE ? THE INVOICE DATE IS 18-9-2023 BUT THE VESSEL REACHED INDIA ON 10-10-2023 .

Dear Experts, Is there any way I can chnage the "Date of Creation of charge ". We exeuted a deed of hypothication on 18 th december , the stamp paper is also of same date but while filling chg-1 form i mistakely selected 19 th december. now the form is uploaded.