I am paying monthly Rent of Rs. 40,000/- & Rs. 1,25,000/- to Single Owner for 2 Property at different location. Now i want to deduct TDS u/s 194IB.

Just want to confirm that can i deduct TDS on 1,25,000/- or Total 1,65,000/- (40K + 125K).

Payment of rent is paid seperately by 2 different cheque resp

Kindly advise on the procedures to be followed for

(1) transferring the electronic ledger balances to the new entity
(2) Advance for service was received in the old entity ( Firm) and actual invoice is received by new entity ( P Ltd Co) . How to deal this situation ?

Pls help

My salary income is 8 lacs and short term capital gain under sec 111A is 2 lacs for the financial year 2025-26? Is rebate under sec 87 a applicable for short term capital gain income under new tax regime?

Dear Sir,

A small company was incorporated on 27-04-2024 and has received the Certificate of Incorporation. However, no further compliances under ROC, GST, or Income Tax have been completed to date. I seek clarification on the following points:

1. Since the company was incorporated towards the end of the financial year, is it sufficient to conduct only one Board Meeting instead of two for the first financial year due to the short period available?

2. The subscribed share capital has not yet been transferred to the company’s bank account. Further, Form INC-20A has not been filed and share certificates (Form SH-1) have not been issued to the shareholders. If the subscription amount is transferred now and compliance with INC-20A and SH-1 is completed, can the share capital be reported on a due basis in the balance sheet for the first and second financial years?

3. Is it mandatory to convene a Board Meeting for every Board Resolution passed during the year? Can resolutions be passed without holding a formal Board Meeting?

4. The GST registration (GSTIN) of the corporate state has been cancelled suo motu by the department. Is it possible to apply for revocation after the extended time limit has lapsed? Additionally, can GST registration be obtained for a branch state if the GSTIN of the corporate state has not yet been revoked?

Kindly guide on the above issues.

As we are engaged in manufacturing and supplying of Unmanufactured branded Tobacco HSN code 24011090 Manual packing no machine installed.
Please advise how much Central excise duty and GST will apply on above products.Also valuation pattern on GST and Central excise duty.

IF MY TURNOVER EXCEED TODAY 5 CR IN GST , CAN I MADE INVOICE FROM NEXT 1ST APRIL?

An employer transferred a company-owned flat to an employee for ₹10 lakh. Stamp value = ₹48 lakh Cost 30 lac bought 6 yrs ago WDV in books = ₹12 lakh Employer treats difference as business loss. Employee treats it as purchase transaction. What is tax implications for employee only

If a father gifts his consultant dentist son a surgical instrument worth 80000 on starting of practice.how to record that as fixed asset in son's tally.
Father has purchased it and has receipt.
It is sons first itr 4 filing and son has no other fixed asset as he is doing his job as consultant.
Please tell

Regards

Dilip

Sir
My updated return is invalidated by CPC subsequently I filed rectification which is also rejected by CPC I request to AO for rectification but that also is rejected stating CPC decision of updated return invalid and rectification rejection is correct Subsequently I filed application for Condanation of delay which is also rejected by AO and PCIT
1. What will happen to my tax paid and TDS paid during year will tax paid will be considered if scrutiny/reassessment happens
2.Which ITR will be considered for final assessment if scrutiny/reassessment happens

Housing Co-Op Society in mumbai having flats as well as shop on the ground floor. In such case electricty and lift maintenance expeses are to be distributed equally between Flat Owners & Shop Owners? Because they are not using the Lift & in most of the cases they dont stay in the building also they are Shop owner of the Society and not staying in the Society.