in previous year 2023, operators work related to factory setup amounting to 600000 has been disallowed and is mentioned to combine and capatilise the amount with factory setup in 2024. now in books of account how to make the entry?

Dear Sirs : One of my clients who is manufacturing goods has claimed input GST credit on (a) health insurance of permanent employees (b) Diwali gifts to clients (c) festival / diwali expenses. Please advise that do these expenses fall in category of blocked credit u/s 17(5). Is there any justification for claiming input tax credit ? Kind regards

Dear Ca Club Expert,
I want to know about the some accounting entry with gst and income tax for my given query in below mention here:
Please give me the some solution because I am some little about confusing

My company name is ABC india Pvt Ltd located at India sold export goods to XYZ located at europe detail is given below here
Sales booked on 04/03/2024- DOLLAR 5000 @ 83.30

Remmitance received to Bank on 28/03/2024 dollar 5000 @ 84.50

Bank has credited the amount to me 412750 means @ 82.55

How to treat this loss from 84.50 and 82.55 either exchange loss or bank

Please pass the complete accounting entry and any other entry if you su ggest me for above example

A Doctor providing HealthCare Services having Annual Turnover more than Rs. 40 Lakhs pays Rent Rs. 4 Lakhs for using Commercial Place as OPD to unregistered Landlord

The Doctor is unregistered under GST as he is providing Healthcare Services.

Whether GST under RCM is applicable to the Doctor

We paid a salary of Rs. 1,41,000 in cash this year to one of our employees. He is not on our payroll and bank transfer list. Now he is leaving the company. Mgt decided to pay Rs 2,50,000 as end-of-service/retirement benefits to him as he worked hard and sincerely during his tenure. So the total payment this year is Rs. 3,91,000. Is TDS applicable in this case?

Can we take a new regime of taxation limit to decide the TDS deduction limit or to take old regime limit ? Can we reduce the Standard deduction and other savings u/s 80C to decide the limit for the TDS deduction?
 
Please advise.

SIR
MR A FILED FOR THE ASST-YEAR 2024-25 WITH REFUND RS. 35200/- AS ON 25.08.2024 (FOR UNAUDIT CASE) TILL DATE NOT RECEIVED FOR THIS REFUND. THIS EFFECT OF REFUND RULES FOR DT 1.10.2024

THANKS

my turnover is Rs 21075130 no need to maintain books of accounts since my receipts is not exceeding 5% of cash critiria. my taxable total income after paying interest on capital and remuneration is Rs 1466540 tax will be 30% on this and cess will be 4%
But when i input data in form 5 it is calculating surcharge how to avoid the same since surcharge is applicable if my taxable income exceeds 1cr. could not understand what is the problem kindly advise. can i declare profit under presumptive taxation to avoid this surcharge

Under 194-c we need to deduct TDS if single bill exceeds 30k and aggregate exceeds 100k. However I am confused in below situation:
Bill 1 of 25k (no TDS deducted as it no limit exceeded),
Subsequently received Bill 2 of 34k (since 30k limit is exceeded do wo need to deduct TDS on 34k or 34k+25k),
And then Bill 3 of 50k (now at what amount should TDS be deducted)?

Dear Experts, i was filed ITR AY 2024-25, refund determined and received in wrong bank account ., The Bank account is my brother's account ,it was validated and EVC Unabled one in my IT portal, Now the account is locked by bank ( Recipient Banker Said) due to return of Refund to Sender Bank (i.e., ITD Refund Banker)., Can I file revised return to claim refund in correct bank account? or any resolution given to me sir.

Hi,

I sell my RHP1 in FY 24-25 say on 1 Oct 2024 for 80 Lakhs that was bought before 23 July 2023. I held it longer than 2 Years, so it is long term. The long term capital gain computed without indexation is 50 Lakhs. I want to use the benefits of Section 54. As per section, I can invest the capital gain in a new RHP bought 1 year ago or 2 year forward, and need to hold it for 3 years.
I purchased a PLOT in FY 23-24 say 1 Mar 2024, for 60 Lakhs. Doubts :

1. Can I show the complete 50 Lakhs of LTCG invested in PLOT and claim exemption u/s 54 in ITR of FY 24-25 ? I plan to build a RHP in it.
2. The 3 Year time limit is to buy and construct?
3. When does the 3 Year time limit start, on 1 Mar 2024 or 1 Oct 2024?

Thanks in Advance.