AY 2017-18
Head: Capital Gain out of Long term residential property
No exemption availed, straight forward tax to be paid
Seller: (1) Mrs. J (75% share) mother
(2) Ms. N (25% share) daughter
Buyer: (1) Mrs. R (100% share)

Case summary: (i) capital gain has been rightly shown in Mrs. J (75%) and Ms. N (25%)
(ii) TDS credit has been claimed accordingly of 75% and 25% in both
(iii) But, buyer Mrs. R has deposited 100% TDS credit on the PAN of Ms. N only. Hence all the 100% credit is reflecting in 26AS of daughter Ms. N

Problem: (i) As we have claimed 75% tds credit in Mrs. J there is a shortfall credit of 75% in Mrs. J
(ii) As we have claimed only 25% credit in Ms. N there is an Excess credit of 75% in Ms. N

Return status: (i) As on 14/05/2024 rectification order has been passed by local AO where Mrs. J has not been provided with any credit of 75% as there is no credit reflecting in 26AS of mother Ms. N

Query: What would be the way that Mrs. J can get the credit which is excess in Ms.N?

Dear Sir
Proprietor have a business of Installation of Solar ( Power) Plant. Started Business March 2024 Previous FY 2023-24 Sale Rs.495000/- He is not Registered In GST assuming Sale FY 2024-25 Less then 40 Lacs near about Rs.3750000/- So Can he Issue Simple Invoice Rs.1700000/- ( Single Invoice Or 2 or more Bill of Rs. 1700000/- )Solar Plant to be install in Same state Distance from Proprietor Location to Buyer location 100 KM. Can be face any issue on the way like that e way bill, and more

Please suggest

Does anyone know about GST liabilities for income from online platform called as Teespring. This platform allows users to create a storefront on their website. Users then can sale different products available on their platforms by using user's own original designs. Buyers can place order on Teespring platform. That platform then prints and ships the desired order to the buyer and give some profit to that particular platform user that designed that particular product. E.g. if a buyer buys product of $28 from that platform, then the person who designed and uploaded that product for selling on that platform gets approx. $6. This playform pays through PayPal or Payoneer.
Link for Teespring platform is
https://teespring.com/
Kindly, guide me about GST liabilities for this platform. Is GST applicable for income from this platform? And If GST applicable then is GST registration needed right from the begining or only after income in a year exceeds 20 lakhs?
Thank you.

kindly provide object clause of photography studio partnership business

Can we create Zero value rental agreement?

I wash registered under the Old scheme for CA Articleship and have been actively engaged in it for over 1.5 years. However, I am facing challenges in balancing my workload from the office Articleship with preparing for my intermediate exams, which I have not yet cleared.

I am considering taking a long leave from my Articleship to focus solely on my exam preparation and then returning to resume my Articleship afterward. I am seeking advice on whether this is feasible and what steps I should take to initiate this process.

Has anyone been in a similar situation or have any insights on how to navigate this? Any advice or guidance would be greatly appreciated. Thank you!

I had taken a 15-year BIma Bachat Policy for Sum Assured: Rs. 1,00,000/- on 11/10/2008 and paid single Instalment Premium of Rs. 79,213.00 with date of Maturity: 11/10/2023.
On maturity I have been paid Rs. 1,04,713.00 by LIC in my account with TDS deduction of Rs. 4500/-. (Reflected in AIS as "Receipts from life insurance policy-Section 194DA"by LIC: Rs. 90,000).
Please help me with the following queries: and advise me on how to reflect this in ITR1 filing for Income Tax for AY24-25:
a. What is the INCOME for FY 23-24 on this account?
b. How much is taxable income and
c. is it "Other Income" or other head?
d. What to do with the TDS already deducted?
Thanks for your help and support.An early response will be highly appreciated.
Yours Sincerely,
Prof. (Dr.) M. Goswamy

DEAR SIR,

WHILE FILING ITR FOR THE ASS YEAR 2024-2025 WHEN OPTING OUT FROM NEW TAX REGIME TO OLD REGIME COMPULSORY FILE FORM 10IEA. NOW IF PREVIOUSLY FORM 10IEA NOT FILED INDIVIDUALS JUST DEFAULT THE NEW TAX REGIME AND FILE THE RETURNS. THOSE WHO HAVE NOT CHOOSED NEW TAX REGIME IN THE PREVIOUS YEARS FORM 10IEA NOT REQUIRED TO FILE JUST DEFAULT NEW REGIME FILE ITR

PLEASE CLARIFY ME

REGARDS

Dear Experts,
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2 Shall it can be accounted under the group of Loand and Advances?
3 Since this security deposit will not generate any interest income?
4 If it is grouped under investment,there will not be any capital appreaciaiton.
5 Has it to be accounted under either Financial asset or investment?
6 pls clarify that under which group, it can be positioned which will be appropriate one In Stat Audit point of view also.

How to solve this error in TDS 24 Q Qtr- 4 F Y 2023-24? ( Se-10(14) other special Allowance)