if a proprietor ship firm merged in partnership firm and that proprietorship firm want to demerge later, is all the current partners of the newly merged firm consent and otp validation is required to demerge or only proprietorship consent or otp validation is required after giving notice by the proprietorship to icai and other partners.

A new start up started in April 2024. I logged in and there was a message you have not opted for return frequency...as i clicked it automatically switched to monthly...turnover till date is Rs.50Lakhs...how it is selected monthly by default if turnover not crossed the threshold till date?

Processor to conodone delay of submission of ITR by the Cooperative Societies as per Circular No.13/2023, dt:26/07/2023 after appeal

How to record post sale discount, not shown on GST Invoice and was not agreed upon before sale, given by supplier because of quick payment of due. The discount is given on total amount payable and is not linked to products. Also, what kind of documentation should i ask for as a proof of this discount. Is there any need to reverse ITC, noting that there was no pre negotiation.

unabsorbed depreciation current assets or current liabilities

The assessee has received receipts in foreign in currency for export of services. is there any deductions under section 80 for such export services to foreign currency.

Land purchased / buildg constructed during 1989 at CHENNAI. Now under JD with Builder in APRIL 2024 50/50 ratio - 3 flats will be for owner & 3 flats will be sold by Builder - possession approx by AUG 2025. How to calculate LCGT for the land owner, when this is due FY24-25 OR 25-26

Hi All,

Could you give me some suggestions on whether it's possible to receive a refund for ineligible tax credits? I recently spoke with a consultant who claimed that it might be possible, but I'm unsure. Any insights would be appreciated.

If Possible, Kindly let me know the Act, Provisions or Rules

Thanks & Regards
Vignesh

During 3rd Qtr of FY 23-24 we had deducted TDS from a contractor. At that time contractor had not linked his PAN with Aadhar, as such differential TDS (higher rate TDS due to non-linkage) is showing on my Income Tax portal. Presently contractor has linked PAN with Aadhar.
Please suggest what action is to be taken by us in order to remove differential TDS being shown on portal. Will it work if Revised TDS for 3rd Qtr is submitted?

Dear Sirs,
Please advise.
Which amount to be taken for interest under 234B and 234C calculation :

1. Tax due
2. Tax due + Cess + Surcharge ?

Is there any penalty or interest on non-payment of Cess and Surcharge calculated on the Tax due on or before 31/03/2024 ?