Dear Sir,

Whether the MAT credit of prior year and MAT credit entitlement are required to be shown in the financial statements of the company? If Yes then how to present in the financial statement of the company. Which AS is applicable & from which year it is applicable to Companies. If we show in the financial statements of the company the reserve and surplus amount will increase. Please provide the Ind AS related to MAT credit of prior year and MAT credit entitlement.

Thanks & regards
N Kadam

One of the Indian Company has planned to purchase some software from abroad (USA), however, the seller Company has no PAN / no office in India. In that situation, What will be the TDS matter ?? and If TDS is applicable, What rate will be charged ?? or Have any exemption from TDS on Software purchase from Abroad ???

Please Guide me

what is capital gain tax rate on quoted and unquoted shares on selling.

We are a Pvt. Ltd. Co. We have registered in Gujarat State under GST our HO in Delhi, there is no employee in Gujarat State. Is compulsory to registered under Professional Tax in Gujarat.

Please advise.

ANIL MATHUR

Best way to ask my question is through an example
Scenario-1 Let Abc is company which is constructing a building and it is using generator(owned by Abc) for the construction as part of using generator for construction it incurred expenses like fuel and regular maintenance,
question is should I capitalize these expenses since they are incurred for building or should I need to debit to P&L account ?
Secnario-2 what if generator is taken under operating lease ?

Hi,
Sir we are running the construction business without ITC and 5% 0r 1% GST payable for non affordable.
Sir at the time of 3B filing and payment i have put the ITC into the in eligible table.Even after this ITC was not nullified. Due to this my cash credit was not deducted and the Electronic Credit ITC was got adjusted for Q1(April'22 -June'22). Kindly guide me can I reverse the utilized ITC and can adjust through Cash Ledger in Q2(July'22-Sept'22) without any penalty and interest.

1) Reversed ITC which is said above is CGST-Rs.3,37,032/-, SGST-Rs.3,37,032/-, and IGST-Rs.38,921/-.
2) Out Put payable is CGST-Rs.23,886/-, SGST-Rs.23,886/- .

Thanking You.

Hi,
we have GST in the business name "SG Enterprises" in proprietorship , their proprietor is dead
now we want to take new GST with same business name and address for new proprietor meanwhile surrendering old GST.

please suggest there is any problem we come.

Dear Sir,
My CA terminated my articleship but at the time of uploading form 109 he uploaded wrong document which is not form 109.
Now I want to know till when my termination will be rejected.
Will it get approved or not....?
Please let me know because it's too urgent and I don't know anything about it.

Thank in advance

I intend to purchase a flat in a high rise building. The building construction is expected to take 5 years. 30% of amount is payable upfront. 70% of amount is payable after 5 years at the time of taking possession. I will be raising funds for initial 30% by selling equity shares and equity mutual funds on which I will be accruing LTCG. I will investing total consideration from sale of equity shares and equity mutual funds for initial 30% payment towards the said flat within a period of 2 months of accruing LTCG and intend to claim capital gains tax exemption under section 54F in the current FY. After 5 years, for the payment of balance 70% of amount at the time of taking possession, I will be selling my current residential flat after 5 years and invest the total consideration for purchase of the new flat within 3 or 6 months of sale of current residential flat. I will be accruing LTCG on sale of current residential flat after 5 years. In the 5 year hence FY, I intend to claim capital gains tax exemption under section 54. My question is arising from the fact that, since the building will take 5 years to construct and then become ready for possession, can I claim capital gains tax exemption under section 54F in current FY for initial 30% payment and also for the balance 70% payment under section 54 in five years hence FY?

AY 2022-23 DEMAND NOTICE RAISED BY DEPTT. BUT DEMAND PAID AGAINST SELF ASSESMENT TAX HEAD (300)
WHAT TO DO ? PLEASE SUGGEST