A) What would be the Cost of Acquisition (COA) u/s 112A for the resulting company shares in a demerger which was approved and executed after 1st April 2018, when the demerged company shares were bought before 31st January 2018.

B) Further how will the COA be calculated for the demerged company shares when sold later than 1st April 2018.

Example: Kkalpana industries shares (say Qty 100) were bought on 27th March 2017 for Rs. 31.69. The company got demerged and Ddev Plastiks shares of equal quantity (Qty 100) were issued and listed on the stock exchange on 26th July 2022. The original quantity of shares in Kkalpana industries remained the same (Qty 100) even after the demerger. Fair Market Value (FMV) of Kkalpana industries (demerged company) was Rs. 41.45 as on 31st January 2018. DDev Plastik shares (resulting company) were sold on 5th January 2023 for Rs. 91.56.

I am in to the business of real estate where I have purchased some acres of lands and have only registered the deal with the government [both seller & buyer signed the agreement & submitted in the court] but registry has not yet been transferred under my name?

Is there any way I can claim this purchase expense during the financial year?

I have received property (house) from mother by way of gift deed in 2018. The property was purchased by her in 1971. Later I abolished that house and sold the plot in 2022. What wiil be the cost of acquisition
P.S. if we take f.m.v. as on 2001 should I consider the fmv of only plot or plot and house

Where is to be shown " receipt on transfer of virtual digital asset in itr.

While filing GST return for builders where the value of land (which is 1/3 of bill raised) to be shown ? Please suggest !

Thanks ...

Thank you SEETHARAMAN Sir for your valuable suggestion; but the actual case was as follows :-
I did a mistake in filing my GST returns. Flat value including GST was Rs. 70, 00,000/- I calculate GST as follows
1. First I derived total GST @ 5% which was included with total value - Rs. 3,33,333/-
2. Next I deduct GST calculated in step one from total value - Rs. 66,66,667/-
3. Now from the taxable which derived in step 2 I further divide (a) value of land - 1/3 of Rs.66,66,667/- = Rs. 22,22,222/- and (b) Value of construction service - 2/3 of Rs. 66,66,667/- = 44,44,445/-
4. In my GST return I took GST taxable value as Rs.44,44,445/- and paid CGST @ 3.75% = Rs. 1,66,667/- and SGST @ 3.75% = Rs.1,66,667/-
5. If you total the total GST amount which I paid to Govt. is same i.e. 5% of Rs. 66,66,667/- and 7.5% of Rs.44,44,445/- comes as Rs. 3,33,333/- Now please suggest is there any chance for correction in GST return where I show taxable value as Rs. 66,66,667/-. And if there is no chance then what consequences to be bear in future in this regard. Please suggest?

Hello everybody,
Can someone share on consequence of 80g application for a public religious trust which got coverted into public charitable trust?
Explaining in detail: the current public religious trust doesn't have any religion clause in its deed. However, since it has a temple which can be accessed by public, they got it registered as Public religious trust.
1. If it get converted into pubic charitable trust, since its a 15+ yr old trust, upon conversion should they wait for 3 years financials to get 80g registration or they can apply for 80g upon conversion?
2. Also upon conversion, by continuing their existing activities as before would it affect the 12a registration upon conversion to Public charitable trust?
Ll it get approved for 80g registration?

Pls share some insight on these lines
Thanks

For claiming deduction under sec 80ddb, dependency status is to be checked on which date?
For eg. - in FY 2022-23 expenditure was medical expenses were incurred in Aug 2022 when patient was dependent. Later, from Nov 2022, he was not dependent anymore. Is deduction available in this case?

my annual income is around 2.2 lacs
while filing IT Returns in ITR 1 it asks reason for filing returns.
what option should i choose

pls advice

Thanks and Regards
suresh R

Hi Sir/Ma'am,

While filing ITR, in the last schedule, the amount payable was being showed hence I did the payment and downloaded the challan. Then I clicked on resume filing but it was showing error that "Invalid assessmentyr value, kindly pass four digits" and I was not able to resume filing ITR. Then the session expired and when I came back to that schedule, it's still showing that amount payable.

Please suggest what should I do in this case.

Dear Sirs
we have obtained 10B condone order from CIT -(E) and intends to file return u/s 154 as in original return amount claimed as exemption U/s 11 was disallowed
now condone delay u/s 119 for late filing of 10B has been approved
now intends to file return u/s 154 to delate demand raised
how to mention in ITR 7, condone delay has been approved or how to file 154 for dropping demand by CPC and it is for AY 2022-23
kindly advise us