Dear All,

1> if partner get Remunerations from Firm, than it is fully taxable for partners ? or any examption from Remunerations. Remunerations is Rs.7,00,000. Which examption like (80C , 80D...) applicable from its Remunerations

2> if NA land is purchase at 1980 and now sell in 2023. than how to calculate LTCG ? IN ITR 3 indexion is from only 2001 so how can we calculate ?

We had taken Rs.200000/-loan from NRI person for business purpose in FY 2020-21, now we have made repayment to NRI in Japanese currency. This transaction is showing in AIS report as remittance under LRS(u/s.206C(1G((a)). My query is does it require to show foreign remittance repayment of loan transaction in income tax ITR form 3.

Dear Experts,

A sole proprietor took GST no., but not filled any return till one year, now they closed business and want to cancel registration. My query is if he raise a request for GST cancellation, do they need to file all previous returns (it is NIL return in this case) and pay late fees & penalty?
What if department cancels their GST by itself for not filling returns inspite of sending notices? Do they still need to pay fines?
Thanks for your guidance :)

Hello, Can anyone help me in this query,

How to record following Expenses which were borne by Managing Director/Promoter in the Books of Pvt. Ltd. Company:

1) Registration fees of Private Limited company
2) Advance to salary/worker
3) Site Expenses
4)Petrol/ diesel Expenses
5)Room Deposits
6)Workmen's Compensation Policy

Note:
Incorporation Dated of Private limited Co. is 05/06/2023
Date on which Bank Account was opened for operation for Pvt Ltd.20/07/2023
There was a delay in getting bank account opened hence few expenses for the month of June & July were paid from MD personal accounts.

Is it mandatory to file form 10B for charitable trust? Or is there any limit for gross total income to file it? Kindly Resolve.

Thanks in Advance

I have income from Business of Electrical Appliances, Sale & Service etc. I have filed ITR-4 since many years. Last year I have received benefits from Bajaj Electricals Ltd. for Rs. 7500/- (Section 194R). This benefits of Rs. 7500/- where to show in ITR-4 ? / How to show this benefit in ITR-4?
Give Your Expert opinion earliest as possible,
With Regards
Thanking You,

I am receiving Rent Rs.40,000 per month in cash. Is it violation of 269ST??

Team
We have filed ITR without noticing the AIS for past two years where in we missed debt MF switch -values - LTCG
How come ITR was successfully processed ? Is there not mechanism to compare ITR records vs AIS

If I leave it as such, will there be any future notice possibilities ? if so how can they raise notice, after ITR is successfully processed. Kindly explain

I am having Petro Cards of BPCL/HPCL. In 26 AS shows TDS deducted u/s 194R. Amount is not received in any account. What will be accounting for Tds and Rewards/perquisites in my books.

Assessee Sale Residential property in 2022-23 and invested the amount in New Residential property and part payment made (which is morethen total sales consideration)

But the possession or registration to be made in 2028 (after three years)


Is he elgible to take exemption on payment base or registration is compulsory within three years. ?