Rajkumar Gutti
14 March 2025 at 13:25

Unpaid gratuity and interest earned

We maintain Employee Gratuity Trust account in bank. LIC credited gratuity amount in our Bank trust account.
In gratuity trust bank account unclaimed or un paid huge amount lies from 8 years. In that gratuity trust account bank interst credited.
Now we want to transfer interest earned amount to our business bank account and to show int. income.
Is it right method, if no, then what treatment to be done.

Pl. Guife


Srinivas Vedula
14 March 2025 at 22:46

Mobile phone purchase by a company

Here is the scenario. An employee broke his personal mobile and asked the owner of the proprietor ship firm to help him out in purchasing a personal mobile from a mobile dealer who has regular business with the firm. The vendor raised an invoice in the name of the firm (proprietorship firm ) and handed over the mobile to employee. When the payment was made by the firm to the mobile dealer when it recovered the entire cost of the mobile from the employee from his salary (paid in cash each month). The mobile phone dealer acknowledged that he has received the money from the employer. Now the employer has shown the mobile as his company asset in the books of accounts and claimed Rs 2899 of input tax credit in GST and depreciation as capital asset (office equipment). Can the employee sue the employer for the same?? What is the declaration employee has to take from the employer???


Daya
14 March 2025 at 11:22

Interest paid against property

Interest paid against loan taken property,
whether should be treated as revenue expenses .
or may be another treatment.


Daya

Treatment of stamp duty paid for office taken on rent for 3 years,
whether should be charged as revenue expenses or amotized in 3 Years equal amount,


Daya

whether land value include all the expenses regarding buying properties ,i.e. Registration Fees or Stamp duty. should be club into the Land Value.


Daya

How to Make Journal entry of Loan taken against Property
and repaid journal entry.


Jacob Abraham

One of my friends, who is an NRI ( due to employment in Oman), deposited Rs. 3 Lakhs in the federal bank for 10 years on 11/03/2015. She became NRI from 2017 onwards. Bank started deduct TDS from accrued interest but didn't inform her. Now when FD matured, the bank paid her after deducting the entire TDS (Approx Rs. 1 Lakh) from the 2017-18 Assessment Year till 10/03/2025. Now they mailed her all ( 29 Nos.) Form 16A certificates, from Asst Year 2017-18 to Asst Year 2025-26. 29 forms together.

Kindly advise whether she can claim the entire TDS refund now.


Shantanu Bose

Sir,
I've miniscule amount(Rs. 3750/) of brokerage and commission earned from a P2P lending platform and STCG from stocks in FY 24-25. Can I file ITR 2 and show this 3750/ in other income instead of ITR 3 for AY 25-26 to avoid complications of making balance sheet and books of accounts ? Can CBDT send me defective return notice for so much less amount ?
Thank you


VIKAS KUMAR SHARMA

Sir,
Individual is registered under GST and trading for building material (bricks, sand, bajari, ms bar, cement etc.) my query is
can he TRADE LPG and OXYGEN gas also to industries under same GSTIN
OR need to go for another GSTIN????
regards
Vikas


Sandeep Jain
13 March 2025 at 14:22

Unsecured Loan amount

Sir,
We have received Rs.298000/- from a single person by Cheque of HDFC bank. We have return Rs.300000/- to him by internet Banking now can we receive Rs.2000/- by Cash from






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