Dear Expert,

In Oct-23 I do have ITC reflecting in 2B, but that time I had filled Nil return.

But later I realized that I should have avail this ITC, then I had avail that ITC in May-24, entered additional detail in Table 4(B)(2).

Now my credit reversal and re-claimed statement showing negative balance.

What actions can be taken to resolve this issue ?

ONE OF MY CLIENT IS HAVING GST AUDIT DEPARTMENT IS ASKING FOR GSTR1 LATE FEES

Hello friends,

My CA has filed Form-26Q in the month of May for 7 months rent, whereas it should have been filed for 6 months rent. How to rectify this error? What form need to be filed?

We have sold our late father's house for Rs. 96 lakh, and the proceeds have been divided among three brothers

An advance of Rs. 16 lakh was received in December 2023, with a 1% TDS deduction, deposited into the bank accounts of all three brothers.

The final payment of Rs. 16 lakh was received in July 2024, with a 1% TDS deduction, deposited into the bank accounts of all three brothers.

Could you please advise on how to report this advance amount in ITR-2?

Is the old tax regime the default for Primary Co-Operative Societies, or is there a specific form that needs to be filed on the Income Tax portal to opt for it?

In Presumptive Scheme the new Column TURNOVER (CASH) added
so whats the Differance between Turnover (Cash) and Turnover (other Mode) ??

Please confirm the capital gain if property purchased in June 1996 for 1.5 lakhs and sold in oct, 2023 for Rs 19.00 lakhs. Assessee is senior citizen

surcharge is deducted above 50 lakhs by employer and also auto calculated to be charged on overall tax liability while filing returns. How to not double count? What’s the actual clause

Greetings,

I would like to inform that as per company act depreciation on factory building useful life is 30 Years. Company has freedom to reduce the time if 2/3 shift working at factory premises. Company has been charging depreciation as per useful life of assets 30 Years since last 12 years. Where building construction on plot on lease. Lease from group of company. Lease period is 10 years.

Now New internal auditor pointed out that lease is 10 years then useful life of building should be 10 years not 30 years which is charged depreciation since last 12 years. Our statutory audit is big-4 .

My Query is can I change % depreciation rate and reduce useful life of assets from 30 years to next 10 years.

I have raised a query only in point of view of Company Act and Not income Tax act point of view.

Can you help me?

Regards,

Choudhari

Salary in form 16 is higher and Salary in AIS and 26AS is less , which income should be considered to file ITR and also TDS amount is same in all three forms can we file ITR with less salary considering AIS.