Dear Experts.
I am looking to buy a house and register it for 57 lacs, I am contributing 7lacs and Bank is funding 50 lacs.
I would like to add My mother as co-buyer , though she has no income and not contributing to the purchase.
All the Payments have been done from my account , except for 1 lacs Cash payment.

1. Do I need to fill 2 Form 26Q in this case for the 1% TDS for my PAN and mother's PAN
2. Can I deposit the TDS amount 100 % from my PAN number and seller PAN number alone.
3. Would this create any compliance issue for my Mother as she would mention her PAN number too in the Sale deed.
Kindly advise at the earliest..

Our Company Sells to NDFC companies . This Sale is not backed by any Bank guarantee of Hypothecation agreement. In such a case for classification whether this can be considered Secured . As RBI has said they will support the NBFC to protect from liquidation. Further will the position become different if we take a hypothecation agreement from the NBFC based on which we classify as secured

Sir I want to know in case of a party who was covered under TDS Provision of Section 194Q, I have purchased goods for resale and also purchase for own use (such as expense or asset). Whether TDS Under section 194Q applicable for both the transaction or only to the purchase transaction.

My 109 form was rejected by RO stating that "as per the directive received from HO-MSS this case does not comes under the guidelines laid down by the council" 


I choosed any other reason for termination (health issue) 


What can be stated under any other reason? Help me regarding this...pls update the new guidelines of ICAI

Dear Sir,

A person has sold his old property which was in his name and against that he has purchased a new property where his wife is the first owner and he is the second owner of the new property.

In the old property which was sold his wife's name is not there as the owner and the entire tds was paid in his wife's PAN while purchasing the new property.

Can the person claim exemption on capital gain from sale of property when he has purchased new property while filing his return.

Please help me in this matter.

Regards,
Divyesh Jain

Dear Sir,

I forgot to do E-invoicing and 24 hrs passed, how to avoid penaly or other consequence.

Regards
Vipul Acharya

Facts of case:

In case of a company, on 14.03.2014 an assessment was completed u/s 143(3) and some additions were made u/s 68 in respect of unsecured loans. An appeal was preferred before CIT(A). In the meantime a search u/s 132 was carried out in the residence of a director and consequently notice u/s 153C was issued to the company and assessment was completed on 16.12.2016 in which the same addition was made stating that to keep the matter alive without there being any new material or facts. An appeal against the order u/s 153C was also preferred before CIT (A). The CIT (A) , on 17.8.2019.decided the appeal against the original order u/s 143(3) dated 14.03.2014 and deleted the addition. Based on the appellate order, effect was given by the AO on 27.09.2019, and he deleted the demand raised vide assessment order passed u/s 153C. Later the CIT(A) on 26.08.2021 dismissed the appeal filed against assessment order dated 16.12.2016 passed u/s 153C.

My queries are as follows:

1. Whether the original assessment u/s 143(3) become nullity after the fresh assessment passed u/s 153C ?

2. Whether the effect to appellate order dated 17.08.2019 given by AO was proper or there was a mistake on his part.

3. What action would be taken by AO on the appellate order dated 26.08.2021 and whether the demand which was cancelled earlier would again get revived?

Kindly advise. Thanks

Hi,

Auditor of the company is not responding. I need to appoint new auditor to close year end compliances. However, until the previous auditor resigns, I will not be able to appoint new auditor. Other option left with me is to remove auditor which is a very lengthy and complex process. Please suggest a way forward.

Thanks in advance

A family comprising of Husband (SK), Wife (N) and a minor son (S) was assessed to tax as a Hindu Undivided Family( SK HUF). The husband expired and the HUF continued with the wife as manager as the son was still minor. The minor had his own income also which was being clubbed with his father and after the death of father the income was clubbed with his mother.
The wife(N) got remarried to a divorcee (Y) who is having 2 daughters from his previous marriage.
S, the minor son of the deceased SK and N is now not having any parent as the father (SK) expired and mother(N) got remarried. Therefore S is now residing with his Grand Parents. The Grand Parents have their HUF in which S is a coparcener.
Now after the remarriage the family comprises of Y, N and two minor daughters as Y HUF.
The queries are:
What will be the status of SK HUF after N got remarried and S is still minor ? Who will manage the affairs of the SK HUF ? Whether SK HUF would get merged with HUF of Grand Father ? What would be the status of assets of SK HUF during the minority of S and after the S becomes major and after S marries ?
Income of Minor S would be clubbed with whose income

DEAR SIR,

LAST TIME I HAVE ASKED QUERY ABOUT COMPOSITION DEALER AND GOLD APPRAISERD. NOW I HAVE SUJJESTED TO MY CLIENT WITHDRAWAL OF COMPOSITION LEVY AND CONTINUE AS A REGULAR DEALER.
BECAUSE HE HAS NO ITC CARRY FORWARD AND DID NOT PURCHASE ANY GOODS FROM REGISTERED DEALER NOW WE CAN OPT FOR WITHDRAWAL FROM COMPOSITION LEVY TO REGULAR DEALER.

BECAUSE FOR THIS YEAR UP TO SEP 2021 HIS TOTAL TURNOVER DOES NOT EXCEEDS EVEN RS. 1500000/- SO HE NEED NOT TO FILE ANNUAL RETURN FOR HIS PREVIOUS TURNOVER IN COMPOSITION LEVY ONCE HE BECAME REGULAR DEALER.

PLEASE GUIDE ME

NEED YOUR HELP

REGARDS