Dear Sir,
Please advice the above transaction-Surcharge Rate
case Summary: -
Mr. X (Individual) Purchased a property in India date 30.04.2024 from NRI of Rs. 12 Crores.
NRI profit- Long term capital gain on Property Sale of Rs. 8 Crores Approx.
Then NRI submit the request to AO for LDC as per his Tax calculation, he takes benefit of cost indexation of the property sale in the tax calculation.
AO verified the Tax calculation and LDC issued to NRI for his Long-term capital gain (Property sales) as per below mention Tax rate.
20% TDS +Plus Surcharge extra
So, Mr. X Individual need to deduct TDS u/s 195 under the head Long term capital gain (Property Sale) as per LDC received
TDS 20% +15% Surcharge and Form 26QB filed properly.
Traces raised demand related to Surcharge rate short 25% demand but deduct 15% by us.
So, What is the Correct Surcharge rate applicable on the above transaction.

A person who is involved in job work related silk. Can he opt for composition scheme under Section 10(2A) of GST Act 2017? if not why?

Respected Member,
I want to ask, what kind of Address Proofs are required if I want to Register GST no. In Uttar Pradesh??, and if the place i want to use as place of business is in my father's name then which document I be required to submit at the time of Registration ??

IF I MADE SINGLE PAYMENT FOR AQUISITION THEN IN FORM 26QB WHICH PAYMENT TYPE IS PREFERABLE..??

Ours is an Agriculture Research Institute we have purchased a tractor for research fram do we get ITC?

Dear Sir,
I am an nri having a FCNR DEPOSIT with INDUSIND BANK. I do not stay in India , but do visit India for short periods of 90 days or 120 days . My status regd with income tax is NON RESIDENT.
Unfortunately Indusind made a report to I .tax SFT-011 that a matured proceeds of FCNR DEPOSIT in us dollar
was remitted overseas. Indusind Bank falsely declared Rs 85 lakhs in the SFT -011 report. Can I sue the Bank for false inaccurate sft reporting for non resident Indian ?
My question is ...Do Banks have to declare SFT reports for FCNR DEposits overseas matured funds remitted in usdollar ??
request please answer my email id arjunmahtani@gmail.com THANKS

DEAR SIR,

WATER TANKER AND TWO WHEELAR PURCHASE FOR COMPANY , IS GST INPUT ALLOWED ?

REGD/RAJESH

Hello sir / mam,
A partnership firm floated with 3 partners out of which 2 partners are Overseas Citizen of India and both of them contributed 99% of capital and profit sharing also 99%.

Please clarify whether OCI can float partnership firm and contribute 99% capital and what are the compliances to be made and consequences to be faced

Hello,
One question that can HUF be partner in partnership firm? If yes, then can the karta of that HUF can provide the contractor service to that partnership firm in which HUF is partner?

Please guide 🙏

An individual would be resident in India if he stays for 182 days or more in India during the previous year or if he stays for 60 days during the previous year and 365 days in the 4 years preceding previous year. If an individual fails to satisfy the above conditions, he will be considered as a non-resident in India

In the above context, what would be tax liability in the following case-
- a Indian person working outside India
- having foreign income of Rs 1 crore or above
- pays income tax in that foreign country and
- income in India is less than Rs 5 lakh
- and visits India for about 80 days during PY 2024-25 and more than 365 days in the last four PYs.

What would be the tax liability?