Sir, I Have amended (decreased) turnover in May 2024 GSTR-1 Period for the month of Nov 2023 and filed GSTR-1. But, the input decreased was not available in GSTR-3B for May 2024. should i Manually enter in GSTR-3B to claim the foregone GST sir..

Pls help me in this matter sir

i mistakenly paid advance tax as self ass. tax in the challan. I filed correction request for change of a.y and minor head [advance tax(100)] through efiling portal.
Now:
1. How much time does it take for getting challan correction request approved?
2. in the meantime, should i pay another challan for advance tax liability (in case challan correction does not get approved by 15th june) ?

A partnership firm has constructed a commercial property with object to sell it , but due to price property could not be sold in 2023-24 hence decided Rented the same property to A hospital company pvt ltd. say 2,00,000/- pm for six month . now in income tax how it will be considered , as business income or House property Income . how to keep record in balance shee and profit & loss account in TALLY and income tax return . If rental income is considered how it will be treated in Tally and Income Tax retur. Thanks in advace

SIR
MR A SALES OF VACANT LAND RS 15,00,000 AS ON 15.06.20023. HE PURCHASE THIS LAND AS 0M 10.05.1987 COST OF RS 13,000. AFTER HE SPENT THIS RS 4,50,000/- FOR IMPROVEMENT AND DEVELOPMENT EXP FOR VARIOUS YEAR ( 1990 RS 60000/- AND 2001 RS. 75000/- 2005 RS. 125000 AND 2010 RS 90000/- And 2020 RS. 100000/-)HE FILING THE INCOME TAX ASSST-YEAR 2024-25 HE CLAIM THIS AMOUNT ON CAPITAL CAIN WORKING
THANKS

There is huge difference in Interest earned from Post Office between TIS and my calculation. I had shown accrued interest income each year, but it appears in TIS, total cumulative interest till maturity is shown . What should be done in this case ?

Dear Experts,
1 A company is purchasing the goods from it suppliers,who is GST registered person.
2 The supplier is supplying the goods to the company, which falls under GST rate of 18%
3 The supplier is raising the separate invoices for freight charges,which is paid by the supplier.
4 The supplier does not know the freight amount at the time of raising the invoice for the goods supplieed to the company.
5 The supplier's responsibility is to deliver the goods at the Company end.
6 So the supplier raised the ivnoice for the freight charges separately.
9 Now the query is :
What will be the GST rate for the freight charges for which the separate invoice raised either 5% ,12 % or 18%
10 Pls confirm

Suppose gold coins purchased by A Ltd. from Tanishq and it is given to B ltd. as per scheme of benefit.

Please tell me accounting entries to be passed in both A Ltd. and b Ltd. in the context of 194R.

My husband (single) sold a property in Oct 2023 for 1,60,00,000 and TDS deducted 160000 with a LTCLoss of -300000
With this money We (husband & wife) jointly bought a property for 15200000 TDS paid.
It is shown both in our 26AS & AIS.
Husband Rs. 7649000 and TDS of 76496
Wife Rs. 7649000 and TDS of 76496
How to show it in my husband's ITR 2 if we want to ask for refund of 160000
Do I need to show the purchase as my income is only 3 lakh a year.

please clarify

I filled form 27Q incorrectly initially and didn't add breakup of the payments made (different installments).

Reporting it like this in detail has indicated interest for late deduction for the first payment, which I have paid @ 1% per month. The correction is accepted in Traces and I have the revised CSI and Conso file. The Challan tab shows the new challan as well.

When I correct the entries in RPU, there is no column for interest to indicate the interest value and that the new challan has been paid for it.

How to sync/tie the new challan to the entry with delayed TDS deduction. Should I add a new row just for the interest? Since I don't see the column for interest not sure where and how to fill this.

Or should I leave it as is since the challan tab shows the interest paid. If I just correct and add the break up of all payments in the deductee tab, will they be matched and reconciled automatically during processing. Please help.

Is audit is compulsory for partnership firm having *Nil* turnover and having loss of approx four lakhs ?

No cash transactions.