Planning to transfer post tax personal savings as loan(zero interest and no time limit) every 3 months to HUF account for the purpose of paying instalments of an under construction property in which HUF will be co-owner.
So it is like giving loan every 3 months.
The HUF will pay back the loan once it starts earning which will be spread across multiple financial years.
1. Is it ok to give such loan without any documentation?
2. Under which head this amount should be mentioned while filing ITR for HUF?
3. Are bank statements enough to record credit/debit(pay back) transactions for loan?
Thanks & regards

Our client is a Government contractor. He wrongly accepted GST TDS reflecting on GST portal which does not belongs to his actual contract. So how to reverse the same...???

Can a Chartered Accountant in Practice who had cleared CMA Inter in 2017 and CMA Final in 2022 can claim exemption from Practical Training under CMA.? If yes please tell the procedure to be followed for claiming exemption and obtaining CMA membership

Dear all, I want to do MBA from IIM and I have selected in IIM .
can any body tell value and carrier option after getting MBA degree from IIM.

Dear Sir,
mujhe ek invoice banana hai refurbished mobile ka jo ki maine 6000 ka becha hai kis tarah banega..gst bhi lagana hai ya nahi.

Hi,

Can you please help me with my residential status and tax liability for FY 23-24?

I left India on 26th Sept'22 on Tourist Visa for self-employment purposes and got visa converted Inside country (UAE) to Virtual Work Visa. Approved on 5th Oct'22.

Will there be any Issues because I came on Tourist Visa and then converted my Visa to Virtual work visa? I had to come on Tourist visa because there were visa processing Issues from India.
Total 190 days in UAE, 15 days on tourist VISA and remaining 175 days on Virtual Work Visa.
I was in India for 172 days.

Will I be NRI? 0% tax IN UAE and Indian Income is >=15L or will I be RNOR Deemed Resident? If RNOR, will my foreign Income be taxed because my profession is same but no longer continued from India.

Thank you.

Dear Professionals,

Request you to please guide me on below:

I am a Chartered Accountant and NOT holding CoP. I want to start a Private Limited company for Management Consulting Services. Should I need to apply for CoP first? Further, can I advertise my company?
Thank you.

Mr.X had 2 residential properties with holding period of more than 5years as in 2019.
1st property he sold and claim exemption u/s54 in the year 2019 by purchasing a new residential house.
Now he want to sell his second house in 2023 and claim exemption u/s 54.
this time inorder to claim capital gain exemption he wants to invest his capital gain amount in construction of house on a land owned by himself and his 2 brothers (the land is owned by them in equal ratio)

Q1: Can he claim exemption u/s 54 ?
Q2: If all the 3 brothers invest money and construct a 6bhk villa, will Mr.x be able to claim capital gain tax exemption as per his share of investment in building the 6bhk villa.
Q3: What proof/documents need to be kept save for Income tax purpose wrt to his share of investment in the 6bhk villa.
Q3: In future if the property is sold after holding the period required for longterm capital gain, can he claim capital gain exemption again upon reinvesting the gain in a residential house.
Q3: What other taxation aspects or angles need to be taken care while doing the above transaction in your suggestion.

Thank you.

we are exporter need to sale rodtep scrip so it is nil rated GST or exempted HSN CODE IS 4907

Dear Sir,

One of my client has sold his residential house property as X in February, 2023 and has long term capital gain on sale.

1)Can he claim capital gain amount exemption if he purchases a new commercial property as Y

He had purchased another residential house property as P on loan around 1.5 years back before selling the above mentioned residential property X in February 2023.

2) Can the capital gain amount of X be adjusted against the loan repayment of the property P.

Please help me resolve these 2 queries.

Thanks,
Divyesh Jain