Greetings,

If a person has to pay monthly rent (INR 50K+) for a residential property to an NRI in a NRO account in an Indian bank account in INR - is it necessary to fill form 15CA/15CB?

Also, will be deducting TDS at 30%+4% cess.

Please guide.

Thank You.

Dear Sir

A person have Capital gain from Mutual fund and Stock also. so while filling ITR-2 no option to show separately- 2 so can he add MF sale + stock sale and put in ITR-2 Seclude 111A Full value of Consideration and same for Purchase

Please advise

Sir

Please advise a person have business income Rs.400000/- and Agriculture income Rs.373200/- Can he file ITR-4 under Section 44AD. earlier year he filed ITR-4 because only business income.

Thank you

Dear Experts,

We as an Society received interest income on FD with Nationalised Bank of Rs.1.9 Lacs and interest from S.B A/c of Rs.15000/-. Pl. guide us whether the said interest is deductable in computaion if Yes under which section and maximum amount deductable.
Thanks,
Gaurang

One of my Clients doing Jewellery Business. We record the purchase invoices in tally. purchase invoice includes hallmarking charges. how to deal with the hallmarking charges in tally?
Please Clarify the above issue. Thank you

WHAT IF FORM F ISSUED IN THE MONTH OF MATERIAL RECEIVED IN STEAD OF MONTH OF SALE ? WHAT IS THE WAY TO GET ALLOW RECEIVED FORM F. KINDLY SUUGGEST WITH CASE LAW OR BOOK REFERENCE.
KINDLY REPLY

Dear Team, I recvd an outstanding demand from IT department yesterday. This is for ITR 3. While balance tax payable matches with what I have submitted, the net tax payable shows an amount higher by 18000. There is no indication of what this extra amount is for. I checked for previous arrears but no such indication. Why balance payable and net tax payable be so different . Interest under 234 is also included already. Kindly advise if in case you have any idea.

where assessee files an appeal before cit, he is required to pay the tax determined by AO if ROI has has not filed. However assessee can make an application to cit(a) thereafter 249(4)(b) will not apply. If anyone has this application format please share. Thanks.

Respected Experts,

I would request your detailed clarification on opt in to GST Margin Scheme.

I Observed that, Used Goods Dealers can pay GST only for their Margin and not on the entire Sale Value.

Question: 1

For Eg: If Mr. A ( Used Laptop Dealer) Purchase Used Laptop for Rs. 15,000.00 from Local Market ( by Paying GST) and after minor changes he sold it as Rs. 20,000.00

As per the Margin scheme, can we pay tax for Rs. 5000.00 X 18 %? by not claiming the Input tax credit on purchases?

Question 2

If the dealer, procuring used Laptop without paying GST ( Local market) is he still eligible to pay tax under Marginal Rate?

Kindly also advise any other instructions to follow

I have sold a residential property in April 2023. I have recently booked a flat in an under construction residential apartment project and signed the "Agreement for Sale" where the possession date is mentioned as December 2024. I have already used the funds from the capital gains to pay the builder while booking the flat.

I am assuming there might be some delay in handing over the flat but I am still hoping that I will get the possession by March 2025 so I can do the registration before April 2025 to claim the LTCG exemption under Section 54. 

I want to clarify if the LTCG exemption window is for 3 years after the property sale (i.e. till Apr 2026) since the new property is under construction or it will be 2 years (i.e. till Apr 2025) since I am not constructing the house myself, rather buying an under construction flat from the builder.