By mistake we took IGST ( Input credit ) 98900.00 excess for the month of October,20 in GSTR 3B return, now this November,20 GSTR3B return we want to REVERSE BACK above IGST (input credit).Please suggest us how many interesting will be payable against this ,any others charge i.e.any panelty also will be payable against this

My father had purchased a Land through Agreement to Sale in Feb 2000 for R's. 1,40,000 and constructed a house later (no bills available). The property was in our possession since then. Registration was finally done in March 18 with FMV of property of R's. 43 lacs n stamp duty of Rs 3 lacs paid. Subsequently, my father passed away n property was transferred to my mother who sold the property in May 19 for R's 45 lacs. Few questions or clarification :
1. Date of acquisition should be in Feb 2000 and not Mar 18 and hence this is LTCG not STCG. Please confirm
2. I believe we should have a FMV as on Apr 2001 and then calculate the indexed cost of Acquisition till the time of sale for calculating LTCG.
3. Can we instead rely on FMV done in March 18 for calculating LTCG.
4. Even if we do FMV as on Apr 2001, What happens if Indexed cost of acquisition is marginally different than what was FMV as on Mar 18.
5. How to claim deduction of stamp duty of R's 3 lacs incurred in Mar 18. Should this be indexed as well?

Plz help.

Dear Sir,
As per Section 12AB of Income Tax Act, 1961, every trust or Institution which are already in existence will have to mandatorily renew the certificate granted under section 80G latest by 31st December 2020.
In Form 10A (available on-line) details of renewal of 80G are not there.
Please guide us in which Form number we have to apply for renewal the certificate granted under section 80G. Is it available on-line?
Regards,
K M Goyal

can we claim depreciation on building in case of composite letting,income can be offered under the head income from other sources?

I am running a Petrol Pump Business. I purchased one tanker for bringing Petrol/Diesel from depot to my business place and also purchases Solar System
What is the Depreciation Rate on-
1. Tanker
2. Solar System

Respected Sir/ Madam,
My father is a senior citizen, retired nationalised bank employee. His yearly Mediclaim amount is automatically deducted from his pension account for group health insurance scheme for retired employees. The premium is completely born by retiree with no employer contribution from deducting from account.
Thus, the insurance policy in my father's name. Can I claim deduction under section 80D, as per paying premium for senior citizen parent Mediclaim? I contribute towards my father's / family expenses, thus, indirectly I am paying premium, though the policy / account statement is in my father's name due to reasons as mentioned above.
Kindly help.
Thanks in advance

Which IT Return form file for Self Employed?
Example :Kiran shop

I am a director in a PVT company during FY 2019-20 from Sept to March 2020
I was getting salary from my previous employment till August 2019.
My query is that for filing IT Returns for AY 2020-21 what ITR should I choose

During last year as a director of that company i have not received any fees( Last FY Loss )

Thanks and Regards
Suresh R

Please solve this case study.
A property was purchased by family members in a company in 1992 for 5 lacs. The company went into liquidation in 2020 and the members of the same family get a share of the property as per there shareholding.
SDV in 2020 6 crores. What will be the taxation in the hands of shareholders. Will it be exempt as the shareholders are of the same family who was at the time of purchase?

Whether Income earned by farmer producer companies can be considered as Agriculture Income and claim Exemption u/s 10(1) of Income tax Act.
Whether MAT is applicable for Producer Companies?