what will be the accounting group of Cash Credit and bank OD A/c in Tally and
also in the transfer same entity bank to another bank whether it should be made entry through Contra.

Resp Sir

Can a Company take loan against FDR in the name of one of the directors. Whether Section 185/186 permits it and what documents are required to be submitted by Company.

Respected Experts,

My query is as follows:
Suppose I issued a tax invoice (Invoice no 001) and this Invoice has 4 categories of Stock let's say A, B, C, and D. Each category has a different GST rate say 5%, 12%, 18%, and 28% respectively.

Now I have to charge freight from a buyer let's say Rs 5000 on this Invoice then what rate of GST would be applicable on freight charges of RS 5000?

Thank and regards

Hello,

Could you please confirm if TDS needs to be deducted at 10% on hotel room rent if it exceeds ₹2,40,000 in the financial year 2024-25?

Dear Experts,

GSTIN for other party has been entered in GSTR1 in B2B table and the same has been filed, How to amend the same in next month

Please advice

Regards,

Dear Sir / Madam,

I would like to understand taxation in simple terms in the case of the redevelopment of a building for its members. I have read a few articles but did not get clarity on taxation and its reporting in the ITR etc. My queries are as follows:

This building is a Pagdi building situated in Mumbai, where the tenants have come together for the redevelopment of the building through a developer. They will receive 450 sqft in exchange for their earlier 240 sqft. The building was constructed in 1945.

There are two types of tenants: A) Tenants who are not going for additional area other than what they are eligible for, i.e., 450 sqft. B) Tenants who are going for additional area beyond what they are eligible for, i.e., may go up to 600 sqft.

The development agreement is entered into on 14-02-2025. All tenants are opting for flat in exchange of their property.

My questions are as follows:

1) Is the tenant required to show this transaction in their ITR for AY 2025-26 as a sale of property to developer? If yes, what could be the cost price and sale value? Will there be any capital gain in both cases mentioned above?
2) Is the tenant required to obtain a valuation report as of 01-04-2001 and 14-02-2025?
3) If not shown in AY 2025-26, and the construction is completed after two years, say on 14-02-2027, is the tenant required to show this transaction in the ITR for AY 2027-28? What would the cost price and sale value be in this case?
4) Is the rent received from the developer for relocation to another place taxable?
5) Is any hardship allowance received taxable in the hands of the tenant?
6) Is GST payable by the tenant at any point during the entire redevelopment process?

I would be grateful if someone could clarify the above points and provide any additional considerations from a taxation and ITR reporting perspective.

Thanks & Regards,
Suraj

Sir,

One of my client have filed his ITR for the assessment year 2022-23 (non audit cases) on 27-10-2022 by choosing new tax regime by filing form 10IE on 14-03-2022. Whether he can eligible to file his ITR under new tax regime.

Dear Experts,

One of my friend is running a Proprietary business with GST registration under Regular scheme. He has his place of business in a rented premisses.
At the same time, he owns a building in some other place, which he wants to let out for rent. His
doubt is, whether he has to admit the rent amount, which he receives from his tenant, as service turnover in his GST or not ? Will the consequence vary according to the status of the occupant, viz. Commercial or Non-Commercial ?

Kindly advice.

Can a spouse of the President of a charitable trust be appointed as auditor of that same charitable trust.
The auditor is not a trustee in the charitable trust.

annual function of school sound system, lighting bill Rs.69000/- which section TDS deduct on payment & rate of tds