Sir,
In my case Mrs.M got a land as settlement from her father. Then later she gifted 1/3rd of it to her own brother and the remaining was gifted to her 2 sons in equal ratio. Is it correct to post below entries in the book of Mrs.M
Land 1 A/c___ Dr xxx
To Mrs.M's Capital A/c xxx
(Being land which is rec from her father)
Land 2 ___ Dr xxx
Land 3 ___ Dr xxx
Land 4 ___ Dr xxx
To Land 1 xxx
(Being land 1 has been divided into land 2, 3 and 4)
M's Capital A/c___Dr xxx
To Land 2 xxx
To Land 3 xxx
To Land 4 xxx
(Being gifting of land to brother and her 2 sons)
Is it correct to reflect in capital account for gift rec.?
If it is wrong, Kindly mention the entry for my reference.

PURCHASE LAND 2020-21 PURCHASE VALUE 35 LAC...


LAND RECONSTRUCATION COMPLETE DEC 2023 TOTAL CONSTRUCATION EXPENSES 15 LACS

THEN WAT IS DEPRCIATION RATE IN FIN YEAR 2023-2024
AND HOW TO CALCULATE DEPRICIATION ON THIS ASSET ON THE BASIS OF TOTAL VALUE 35+15 OR ONLY 15 LAC
PLZ REFER INCOME TAX SECTION ALSO
THANKS IN ADVANCE

myclient applies for gst registration after cross his business turns over 1 crore in the month of Jan 2024. and he get GST Registration in the Month of Jan 2024 . He sales before the gst registration some exempted goods and some taxable goods. can he show the sales made before gst on the GST Portal.if yes how it is possible.
Please help me asap

Dear CA Club Member,
I am an exporter and importer and running the private limited company and i handle my all work like import and export work but i have a slightly knowledge about the FEMA AND RBI Guidelines for import and export.
i want to update my knowledge about the FEMA and rbi guidelines for import & export can anyone provide me pdf file of FEMA & RBI guidelines for import & export for easy langauge.

please

Sir/Madam

I want to know how many Certificate Course are running for Financial Data and balance sheet data analysis. Request to share some important website of list of course.

Fees is less than Rs.40000/-

The assessee could not file his income tax return due to various reasons. Case selected for scrutiny under faceless assessment and he did not respond. Exparte assessment orders passed. The assessee now wants to file appeal before CIT A. can the experts provide model appeal grounds in such a case.

Our company turnover is more than 100cr in previous year in both Taxable goods & exempted simaltaniously.
Now the GST deptt have asked to generate E invoice in exempted catagory manadatorily , otherwise impose a hefty penalty .
We have yet find the option in Tally prime (4.0) to generate the same and the tally company unable to find solutions.
I have asking for guidence to resolve this issues asap.

Section 43B(h) provides for disallowance of the sum payable to SME if not paid within the prescribed time. My queries are as follows:

1. Will the supplier be an SME as defined under the MSME Act but not having Udyog Aadhaar will be covered by section 43B(h)?

2. If an SME supplier asks the buyer to inform if it is registered under the MSME Act and the supplier although registered replies that he is not registered as MSME. Will payments to such suppliers would be out of the purview of the provision?

3. If any part of the due is retained by the recipient of supply in terms of the contract as retention money or security deposit would that amount be out of the purview of section 43B(h). Whether there would be any restriction in deducting the security deposit or retention money?

4. Can the payment to SME be converted into a loan with the express consent of the supplier to come out of the purview of s. 43B(h ).

Please guide. hanks

Hello Experts !!
one of my client have 4 trucks and he is providing service of goods transportation and he is not register in GST till date .
Now he wants to start another business of trading for which he will have need of a truck for supplying the trading goods. so he is will buy another truck for the trading work activity.
he will be liable for GST registration and he will buy that new truck and will take ITC of GST as capital goods .

now we have 2 businesses with single GST registration and we will operate those businesses under GST as per below :

1. GTA Business : Under RCM
2. Trading Business : Under FCM (we will take whole ITC of new truck as per rule 43 and reverse the monthly ITC in the proportionate of supply (sales) under RCM (exempt ) and FCM.

Please suggest me ,is this practice good or as per GST provisions ?
If any problem will occur in near future , than please let me know.

i need someone to share a Body of individual deed draft.