Respected Sir

As per section 45(3) of the Income Tax Act 1961, When an individual(Partner) transfers a capital assets (Stocks, Mutual fund, Real Estate, etc.) to a Partnership Firm as a capital contribution, it is considered a 'transfer' under capital gain tax provision and chargeable to the tax when such transfer take place. Value recorded in the books of the firms is consider as a full value of consideration.
Our question is on which value firm will recorded such assets (Stocks, MF, Real Estate) on Fair Market Value of the Such assets or cost of acquisition of the individual (Partner).

Hi All,
Below are few queries related to self invoicing:
1. When self invoice is prepared is it to be issued to someone?
2. Suppose one is taking services in one or two instances in a month from the same unregistered supplier, can only one self invoice be prepared for that particular month mentioning all services from that particular unregistered supplier?
3. sponsorship service is taken from a registered dealer . RD has issued an invoice without GST amount mentioning RCM is applicable.
Does self invoice is still to be prepared, as RCM applicable service is availed from REGISTRED dealer?
Thanks & Regards.

One of my GST client had expired during Feb.2025. Can his assistants/relatives file his pending GST returns ? Because many pending transactions (Sales) are to be executed at all cost.

Ancestral property will be sold in March 2025 / April 2025. What is the time limit to deposit the sale proceeds in Capital Gain accounts scheme and the time limit to purchase the specified bonds?
Please also inform incase it will make any difference if the land to construct the new property has been purchased in January 2025

Hi
GSTR9 is not applicable
1) wrongly claimed Ineligible ITC of Rs. 100 in FY 2023-24 - Q- how to reverse this now ?
2) out of Rs 100 - availed 60. later paid 60 but not reported in 3b, accumulated in Cash Ledger (ECL) - so can i reverse this 60 and pay through cash ledger - while filing Feb 2025 GSTR3b or file DRC 03?
3) if i just reverse 60 - what about the non-availed 40 which is still lying in Electronic Credit Ledger?
4) Do i have to pay interest @24% (Reversal of ineligible ITC) on Rs 60 ? & Late payment of Interest @18% on 60- BOTH 24% & 18%?
Thank you

1. Can GPA be used as proof of principal place to apply GSTIN, can a GPA holder apply GSTIN in his/her name will this be valid ownership proof?

2. Can a GPA holder give NOC to other person as an owner to apply for GSTIN?

I am applying for TAN Number of Limited Liability Partnership

Which type of deductor should i select Firm Or Branch of Firm

I am applying for TAN in Delhi State which is our branch & Our Head Office is in Maharashtra

Please guide

When a resident buys property from an NRI what is a tax implication for both buyer and seller ?

Purchased tarpaulin covers for agriculture research can we claim ITC for the same as we are Agriculture Research Institute

dealer did not record this import (from out of india) in books till 2025. he now in feb 2025 recorded in books this import purchase , as a prior period error.

it is showing rightly in 2b since feb 2023.

so, can igst be claimed now? bill is of feb 2023.

my view-- as not recorded in books earlier, why cant he claim now?