Is it possible to revoke or cancel Form 10IB filed online ? Actually we had mistakenly filed Form 10IB u/s 115BA instead of Form 10D u/s 115BAB.

I am a pvt ltd company
the definition of a small company --
as per section 2(85) of the companies Act 2013 a small company means
a company that meets the following criteria:
condition 1 : paid up capital should not exceed INR 4 crores ; and
condition 2 : turnover of the company should not exceed INR 40 crores

my paid up capital is 4.25 crores
but turnover does not exceed 40 crores

so now am i small company or not
pls guide
thanks

We have filed Annexure V for the FY 2023-24 with in due date and my query is we wish to continue under FCM for the coming FY 2024-25, so whether we need to file Annexure V again for the FY 2024-25. If yes We have tryed for FY 2024-25, But messgae shown as message shown as "Declaration in Annexure V has already been filed for the selected Financial Year 2024-25 on dated 18/05/2023 and is still active. Click on Download Annexure V button to download the declaration." But downloaded file is showing only FY 2023-24… Kindly advise me

We have head office in Delhi and branch in Haryana. I have only GST input in Haryana branch but no GST output as all sales are done through Delhi Head Office. Is there any way by which we can transfer this Input from Haryana to Delhi? Your expert guidance will be highly appreciated.
thank you

Getting error "RUNTIME ERROR 76" PATH NOT FOUND while uploading PTRC FORM IIIB for 2023-24. Kindly advice.

My client is registered under FCRA Act and has not received any income other than interest from foreign funds. Since, interest income is also treated as foreign contribution, audit report in Form 10B was filed for the A/Y 2023-24. But now, the institution has received a notice that Form 10B has been filed instead of 10BB.

Also, as per the new circular 2/24, CBDT has given a chance to rectify the form by 31st March, 2024, if filed vice-versa.
Kindly clarify if we need to file report in Form 10B or 10BB since there is no other income other than interest received on foreign funds.

Assessee has purchased unlisted equity shares of a company during the FY 2007-08.

As part of the buy back of shares by the company, the assessee has sold the stake in current FY 2023-24.

How to calculate LTCG on shares. Is Indexation applicable for calculating LTCG, as the shares are unlisted? Also, Is sec.112A applicable?

Please clarify with applicable section of the Income Tax Act.

Thank you

Dear Sir,

One of my client was having Long Term Capital Gain from Sale of Property which he has invested in Purchase of New Property to save Capital Gain Tax.

But while filing his Income Tax Return he gave me the wrong Purchase amount to exempt Capital Gain and paid some tax.

My query is whether there is any way (online or physical) to revise this Purchase amount in the return as the due date for revising the return is already gone. i.e. 31st December.

Please help me resolve this issue.

Thanks,
Divyesh Jain

ONE OF MY CLIENT WANT TO ACTIVATE THE DIN DUE TO DEACTIVATE OF DIN THROUGH SURRENDER OF DIN BY FILING DIR-5, NOW DIRECTOR WANT TO ACTIVATE THE DIN, CAN ANYONE SUGGEST WHAT IS THE PROCEDURE TO ACTIVATE THE DIN. CLIENT HAS TRIED TO FILE NEW DIN BUT THE DIN WAS GENERATED AND WHEN WE USE THE DIN IS SHOWS AN ERROR THAT THERE IS NO SUCH DATA OF THIS DIN.

Hello,

Assume a 4BHK house in an apartment complex has been bought in the FY 2021-22. It has become a self-occupied property starting from FY2022-23, where one of the rooms is being used purely for trading (business), rest for living.

a) Can depreciation at 5% be claimed here?

b) Assuming it can, will it be on the whole house or on proportionate basis (for one room)?

c) Assuming on proportionate basis, does this calculation make sense

Cost of house bought = 90L (say)

Room cost = 15L

5% depreciation for 1st year: 75000

Reduced tax liability = 22500 (30% slab)

This calculation is to just get a general sense.

Kindly help. Thanks.