I have purchased a property of worth 90 Lkhs from DRT Auction.As per TDS On Sale Of Property above 50 Lakhs i have to deduct 1 % tax and deposit to IT department on behalf of Seller.Banker(DRT also) is not allowing to deduct 1 % tax from auction price.

is there any exemptions for 1% income tax deduction under TDS On Sale Of Property by DRT Court.

Thanking you in advance.

Hi Experts,
Need your views on the following Case :
Facts : One of Our client is a Partnership Firm engaged into the business of Real Estate Development. They have started Construction and in the mid of the project. Now they wish to Convert Partnership Firm into Limited Liability Partnership with the same Partners becoming Designated Partners/Partner in the LLP.

Issue :
1. Will this Conversion be treated as Transfer of Business ?
2. What precautions need to be taken during and after Conversion with respect to the direct/indirect tax and accounting treatment ?

Thank you in Advance for your valuable views

what is method of valuation of investment while preparing balance sheet according to scheduled III.

Freight expenses incurred to bring raw material, whether it should be added cost of raw material or should be shown separately.

Client is coming under RREP, they can avail ITC for commercial hotel and residences. The commercial and residence ratios are 28% and 72% respectively. ITC belongs to hotel will be utilized only after 4 years of construction time. Now in GST portal, we must utilise all IGST ITC first against output taxes. Due to this, ITC (IGST) belongs to hotel will be utilized now itself. How shall we overcome this? Kindly advise.

If I have taken property on rent @ of Rs. 25000 per month and their is joint ownership of Husband and wife. Is TDS applicable under section 94I. If i am giving two cheque 1 in Husband name and another on wife name 12500/- each

Hello, is it possible to postpone the property sale TDS payment post property registration?

There is a demand against FY 2017-18 for interest. How to pay the said demand and file DRC 03 ?

while filling form-3, "SRN of Form 4 or Form 5 of last one year from the date of filing this form through which notice of change/amendment in the LLP agreement has been filed with the Registrar" is been asked. we haven't filed any form-4 or 5 in any of the previous years. so how can we proceed with form -3?

Resolved.,...,......