Client a Builder/Developer doing Real estate project under JDA with Land owner.A contractor will send many labourers.Builder pays to contractor and deduct TDS under IT Act 194C.Contractor has no GST.Will this payment to contractor needs to be considered in80:20ratio of mandatory requirement of purchase from regd dealer?If 80% requirement failed, whether liable to RCM 9(4)?If yes,How to avoid RCM for this?

BY: Sivaraman A.R.

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We have sent one sample free to canada to a relative by DHL Are we supposed to inform any authority for this in icegate or other

BY: Mahesh Kumar

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While filing June montrh GSTR 1 where Sales return was more than june Sale and Negative liability was appearing. Now while filing GSTR 3B in July 25 how to reduce Liabilty by same amount as it is not reducing liability automatically

BY: Mahesh Kumar

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Is Transfer of Assets between branches within same state is liable to GST? The entity is registered at only one place in state. Please clarify

BY: SRIPRIYA PRAKASAM

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We have a case of assessee in which Land Developer purchased in July 2024 for a monetary consideration of Rs.2 Crores TDR, which was issued by Municipal Corporation to the assessee in lieu of a portion of his land reserved for Coastal Road project during July 2024. Whether capital gain will be attracted in this case to the client? If long term, then whether indexation will be available? For Indexation can holding period of Land be considered to decide whether Short Term or Long Term? And also whether exemptions u/s 54F, 54B, 54EC will be available? Please provide valuable inputs....

BY: CA Ravish Thakur

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Dear All, An assessee's vacant residential land was acquired by TN Govt for highways project. No Stamp duty and Registration fees was paid since both are exempted by G.O 56 CT&RD dt 29.06.17. Being a compulsory acquisition can the assessee claim exempt from Income Tax by virtue of CBDT Circular No. 36/2016 dated 25/10/2016. CBDT vide Circular No: 36 of 2016, Dated 25/10/2016 offers due recognition to the provisions of section 96 enacted under the "RFCTLARR Act, 2013" so as to treat award under the said Act as tax-free under the Income -tax Act, 1961 No TDS done (value is Rs 31 lakhs) and the document says acquired by Tamilnadu government for public purpose and executed by the highways department. Compensation not given at Market value.

BY: CA. VASUDEVAN P K

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I am already a Partner in one CA Firm doing audit and attest functions. Can I become partner in 1 more CA firm and do attest and audit functions for both firms

BY: SRIHARI K R

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Hi Team, We have come to a situation where the client has raised the GST invoices and purchased the goods from the same party which was reflecting as purchase and sales in one side. On the other side, there was no cash/ bank transactions involved for such purchases and sales made whereas it was adjusted by a journal by netting of creditors with Debtors. Is it allowed as per the accounting standards? And in the other case, Creditor's "A" balance of Rs. 1,00,000 has been adjusted with the Debtors "B" by posting a journal entry which impacts understament of assets and liabilities by Rs. 1,00,000. "A" and "B" are the not the same person.

BY: MANOJ V

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Hi, An Assessee has deposited the amount received from sale of capital asset in CGAS with SBI. He has died before the lock in period and he has not invested in any property. Now, the asset has been transferred to the legal heir. Whether withdrawal of deposit attract tax impact in the hands of legal heir?

BY: SRIPRIYA PRAKASAM

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A partnership firm engaged in computer program such as python, C++ coaching is an authorised franchisee. It gave software coaching to any person and its teachers are not professionals i.e. qualified teachers. It admitted income under section 44AD. The company collected fees and paid 50% to the assessee-firm as its share for every student and deducted tax @2% as technical charges. Now the AO says the gross receipt of the firm is taxable under sectionm44ADA and not under section 44AD. Is he justified?

BY: SUBRAMANI V K

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Whether a professional can report income less than 50% of gross receipts in their income-tax return if they maintain proper books of account and without tax audit report

BY: CA. SURAJ KUMAR CHOUDHARY

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A small cooperative society was issued Intimation around 10 years back disallowing deduction u/sec 80P to which it was entitled. The previous CA who filed ITR for that year and 3 more yers thereafter failed tget it rectified Orders were passed after wards and refund was also released A couple of years back their refund was adjusted against pendin amount around Rs 8 Lacs Asessee appealed to CIT telling about ignorance of any such intimation passed around 10 years back and appeal was dismissed Another appeal to Appelent tribunal has been dismissed Whether any request can be made for installment based payment of Pending demand as they do not want to go to high court etc

BY: Mahesh Kumar

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Dear All, FACT :: One person left India for USA in Aug,2022 for employment purpose. Indian income includes dividend from MF,bank interest and perquisites received from employer as per form 16.Entire indian income is below 3 lakhs. QUERY :: 1] Is the residential status ``NON RESIDENT`` ?? 2] Can we submit ITR 2 ?? 3] Are submission of Form 10F and Tax Residency Certificate mandatory ?? Please guide me.

BY: SUDIP KUMAR MUKHOPADHYAY

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I am Karthik G M, Chartered Accountant practicing in individual name without any firm registration since 2019. I am planning to join as partner to “Lingaraju & Co”, sole proprietary firm established in the year 1997. We want to change the firm name into “Lingaraju & Karthik” and intending to retain same firm registration number (FRN) of “Lingaraju & Co.” My critical point is to retain FRN of Lingaraju & Co. My query 1. is it compulsory to retain Firm name "Lingaraju & Co" to retain earlier FRN? or 2. is it possible to change Firm name as "Lingaraju & Karthik" and retain earlier FRN?

BY: KARTHIK GM

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Query: Applicability of ICAI's Technical Guidance Note to NGOs with 12A Registration We seek clarification on whether an NGO holding a valid 12A certificate under the Income Tax Act is mandatorily required to follow the new Technical Guidance Note (TGN) on Financial Statements for Not-for-Profit Organizations issued by the ICAI.

BY: ANSHUL GUPTA

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I am a Chartered Accountant holding a full-time Certificate of Practice. I am currently a partner in a CA firm registered with ICAI, but I am not the member-in-charge of that partnership firm. I have also registered a proprietorship firm under my name through the SSP portal. This proprietorship firm is currently not operational — no assignments, client services, billing, or signing are being done from it. I seek ICAI’s clarification on the following points: 1. Can a member in practice simultaneously retain both a partnership firm (where they are not member-in-charge) and a proprietorship firm, provided * Both firms are registered and located in India, * Only the partnership firm is active and used for professional services, 2. Does the mere existence of both FRNs under the same member, even if one is inactive, **constitute a violation** of ICAI Council Guidelines, Code of Ethics, or Regulation 53A? Thank you in advance for your guidance.

BY: ADITI KASHYAP

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revised format of financial statements issued by ICAI for co-operative societies. the consolidated financial statements (CFS) of the society have been prepared in the new prescribed format and are forming part of the audit report. However, in addition to the consolidated statements, the management has also prepared separate branch-wise financial statements in the old format for internal review and administrative purposes that need to be authenticated. Whether it is permissible to issue the consolidated audited financials in the new format while allowing branch-wise financials in the earlier old format ?

BY: CA. SURAJ KUMAR CHOUDHARY

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Hi, Another firm merged with my firm in the year 2024. However, due to some personal reasons, it demerged not more than two months after the merger. On my firm card, I see the join date of the old merging firm as 2018 ie since its constitution. Does it mean that its experience will also be counted with my merged firm when its being assumed that merger happened from beginning of merging firm? Simply put, whether experience of demerged will remain with merged firm even after demerger ? If no, then what's the purpose of mentioning the join date as 2018 instead of 2024. Thanks

BY: Deepak Anand

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Respected Members I want to convert my proprietorship firm to LLP. I want to know the process of conversion so that my existing credentials of the proprietorship firm can be continued. I want o keep the same name as of my proprietorship concern. Thanks

BY: dhanindra kumar surana

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Dear All, An assessee is planning to deposit Capital Gain amount in CGAS . Since there is an extension in due date to file the ITR for AY 25-26, can she deposit the amount before the extended due date (while filing the returns) or should this be done on or before 31/7/25.

BY: CA. VASUDEVAN P K

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Is it necessary to give details of no of documents while filing GSTR 1 for B2C Customers if sales is below 5 crores

BY: Mahesh Kumar

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Can a proprietor who have performed engagement as per SRS 4410 of LLP, do a statutory audit of the same LLP ? Because, wordings of SRS 4410 "We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation...." If proprietor is assisting in preparation then how can he do stat audit the same entity ? Kindly clarify..

BY: Mayur J. Raiyani

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The Property Purchase agreement has 2 buyers, the purchase of property is financed through Bank Loan and the EMI isnpaid by the primary borrower. However at the time of TDS decution and payment through Form 26QB instead of filing 2 form 26QB the primary borrower has deducted full TDS under his PAN and filed Form 26QB on full value under the contention that he is responsible for payment of the Home Loan. There is no loss to the revenue as the entire TDS has been deducted and deposited. Will there be any consequence for filing only 1 Form 26QB or is there a way it can be rectified?

BY: KOMAIL ABBAS TALAJAWALA

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A. GSTR1 May 19 was filed and saved as WOPAY [ Zero] by oversight. B. GSTR3B May19 was filed correctly as WPAY [ with IGST] and accordingly Tax was paid on the same C. GSTR1 could not be amended and rectified due to technical errors D. Since GSTR1 was by oversight saved as WOPAY and Data was not transmitted our precious working capital was stuck up and no IGST Refund was forthcoming. E. GSTR1 could not amended as the GSTR3B was filed on time F. It was advised by ICEGATE that adjustment be made in subsequent GSTR3B, and we have followed the same as in spite of the documents follow up the IGST refund was not forthcoming and it is revenue Neutral for the Department. G. The said Payment made in GSTR3B May 19 has remained as an excess payment till the time it was adjusted in the March 2022 Liability H. Now we have received a Demand Notice for FY 2021-22

BY: JESAL V CHANCHANI

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Whether excess of credit notes over Sales resulting in negative sales and negative liability be shown in GSTr 1 and return filed

BY: Mahesh Kumar

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can partner of firm who is also having his proprietorship firm could generate UDIN for any audit assignment conducted by his proprietorship firm ?

BY: PRATIK

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Dear all, Is GST paid with health insurance premium allowable u/s 80D???

BY: SUDIP KUMAR MUKHOPADHYAY

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Dear all, Issue is that is it mandatory to mention HSN code in table 12 of GSTR 1 in case of B2C supplies by a registered person having turnover less than 5 cr ??? Can we refer notification no 78/2020 dt 15/10/2020 ??

BY: SUDIP KUMAR MUKHOPADHYAY

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1) Whether RCM applicable on if individual come to jwellery shop for selling his old jwellery? 2) if no then what doucments need to be maintain for such type of URD purchase by shop owner?? thanks in advance

BY: Ninad Prataprao Shete

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How the options turnover is calcluated for tax audit. Whether we have to include the premium on sale of options in turnover ? In most cases absolute profit and losses are taken and not the premium. As per Final draft of ICAI GN Premium received on sale of options is also to be included in turnover. However, where the premium received is included for determining net profit for transactions, "then such net profit "should not be separately included. From exposure draft to final GN the word is" same " is replaced with "then such net profit". So we have to take sale premium and absolute losses for turnover calculation. And leave the net profit as it is already part of sale premium. Please clarify .

BY: naresh aggarwal

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Justdial persons are calling CA FIRMS to place its name on top 5 or 10 on payment of annual fees which is direct violation of ICAI GUIDELINES. Is it allowed? Whether concerned committee so motto verifies such violations or not. One may see some companies names are spelledout while asking for subscription. Is it allowed. Listing is in the order of the payment made and not alphabetical order. Is this point worth commenting in PEER REVIEW. Please comment

BY: CA.veerendra.T.Murashillin

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Current utility and online filing facility doesn't allow to file Balance sheet figures such as Debtors, Creditors, Stock and Cash Balance in filing of ITR 4. Is it just not required to file or it is lapses in the utility to be updated.

BY: CA. SURAJ KUMAR CHOUDHARY

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A HUF firm was doing business in previous years However it is having only Interest Income during FY 2024-25 But while selecting ITR Form only ITR 4 is available as option not ITR 1 Can we file ITR 4 instead

BY: Mahesh Kumar

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Can I take ITC now in May 2025 (of December 24), wrongly reversed in 4(B)(1) of GSTR 3B

BY: CA. SURAJ KUMAR CHOUDHARY

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Many times interest figures in AIS are different from as shown in 26AS Can We ignore AIS figs

BY: Mahesh Kumar

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Income of an individual is Rs 705000 for Financial year 2024-25 How marginal relief will appear in ITR 1

BY: Mahesh Kumar

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Dear Professional Colleagues, If a school avail services of a non resident individual for teaching the students, whether these services attract GST on RCM to be paid by school?. The school is having Form 10AC for income exemption u/s 10(23C).

BY: ESWARAIAH Y

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I have seen some CA's writing their certificate course details as degrees on their visiting cards like CCAB (for concurrent audit course), Cert FAFP(for forensic course), Cert BRSR (for BRSR Course). Is this allowed to write on visiting card or anywhere with name?

BY: ROHAN

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Ours is a Prop Firm and has been on the Panel of CAG for more than 15 years However for 2025-26 They have not included Our firm name in Empanelled firms list Whether they have stopped Proprietorship firms from getting empanelled with them

BY: Mahesh Kumar

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ABC Limited is a government company with 100 percent shares owned by State Government. They provide supervison services for Construction of Roads, Bridges. For this they receive a certain percentage of the Civil Works as CENTAGE. So basically what happens, A Contractor XYZ Ltd for the construction services raises a Tax Invoice in the name of ABC Ltd. Suppose for Rs 100 they raised a Tax Invoice and charged 18 percent GST on it and the total Invoice Values becomes 118. Now considering Rs 100 as the civil works value ABC Ltd books a centage Income of 8 Rupees in their books. This will be paid by the concerned road construction department. Now does ABC Ltd requires to pay GST on this 8 rupees i.e. Centage Income. If no, why? If yes, then can ITC of Rs 18 be claimed?

BY: AMIT KUMAR

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There are 3 parties in the cases party A, B & C there is an agreement b/w A &B that A ( the builder) will develop property for B ( another builder) and thereafter B will perform some alteration like re- construction & deliver it to C. Whether the GST charged by A from B ( supply falls under schedule 2)will be available as ITC to B? pls reply with reason.

BY: DEEKSHA GARG

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Below are the scenario - 1) Office Buiding constructed on freehold land is at the end of it's useful life and fully depreciated. 2) Original Gross Block is Rs.100 Cr with approx carpet area 1 lac sq.ft. 3) The company decides to reconstuct / significantly refurbish approx 10 thousand sq.ft by spending Rs.30 Cr today from own funds. 4) The company management decided to remove proportionate WDV (Rs. 10Cr Gross Block and Rs.10Cr Accumulated Depreciation) and capitalise Rs.30Cr with Building. Questions - 1) Is the above allowed as per IFRS / IndAS ? 2) If yes, should Stat Auditors need to give any special attention or FAP on this ? 3) Are there any references of similiar past practices ?

BY: Debdatta Bandyopadhyay

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A Cooperative society received intimation under sec 245 reg adjustment of incometax dues for Ass Year 2014-15 against pending refund in 10 Mar 25. It chose to disagree .Now it wants to file appeal before CIT Appeals(old CA receiving previous intimation assessee not aware of demand) While vfiling appeal before CIT appeals what date should be mentioned in date of serving the order intimation under sec 143(1) can it be 10-3-25

BY: Mahesh Kumar

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Can ITC be claimed on Immovable property under construction which is being given on Lease?

BY: DEEKSHA GARG

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Employee opted for voluntary retirement and commuted 1/3 of superannuation amount from the approved fund with LIC. LIC made TDS on such withdrawal. Does section 10(13) cover cases of voluntary retirement? Or exemption is available only after specified age for such retirement.?

BY: SHUBHA HEGDE

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Assessee providing service in relation to levelling and developing land which is used for Agricultural purpose by using JCB Machine, Wether Service tax leviable on it?? or its exempt service in relation to Agricultural produce for cultivation??

BY: Ninad Prataprao Shete

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I am full time partner in CA Firm signing TAx audits and STatutory Audits I have not taken the proprietorship permission in Individual name My query is whether i can receive the Gst and TAx filing consultancy in Individual name and declare in Income tax return without taking specific permission from ICAI and whether it is permitted income as per ICAi or i have to take seperate permission for the same With regards NATESH.S

BY: NATESH.S

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While filing appeal Form 35 to Commissioner appeals for Ass Year 2014-15,We have to provide details of order appealed against.Intimation issued by CPC only mentions document no Please guide as the appeal is against Demand raised in intimation

BY: Mahesh Kumar

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First Question : What is the applicability of Key Audit Matters to Companies under Comapnies Act 2013 2. Second question Whether Key Audit Matters are part of Qualified Opinion of Audit report of Companies under the Companies Act 2013.

BY: Dnyaneshwar Badrinath Tambe

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Whether it is compulsory to show 8% or 6% of sales as net profit to avoid tax audit if turnover of a prop firm is 99 Lacs (below one crore)

BY: Mahesh Kumar

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i have an income from my proprietor ship firm and also income from partnership firm as remuneration , which ITR is applicable for FY 2024-25

BY: PRATIK

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A proprietorship firm sales during 2024-25 is Rs 99 Lacs Whether it is compulsory to show Net profit @8%. Last year 2023-24 FY it was under presumptive taxation sales below 1 Crore but Netprofit above 8%During 2022-23 It was being audited

BY: Mahesh Kumar

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A HUF firm is sending free sample to a member's wife abroad on proforma invoice Whether ITC is to be reversed on cost of sample

BY: Mahesh Kumar

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Assessee providing service in relation to levelling and developing land which is used for Agricultural purpose by using JCB Machine, Wether Service tax leviable on it?? or its exempt service in relation to Agricultural produce for cultivation??

BY: Ninad Prataprao Shete

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Hi , I am qualified as CA in 2022 then Existing Proprietory firm of my Brother adding me as a partner, now can I constitute Proprietory firm and merge it with existing partnership firm without affecting eligibility criteria for empanelment of bank audit?

BY: HAMPANAVAR BASAVARAJA

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Notice uploaded on the portal on Dated 17-03-2020 for the Assessemnt Year 2012-13 on account of demand under section 143 1a. ( Amount is Rs 63,000) While on the portal there is no intimation under section 143 1a. Please advise for solution.

BY: RAJEEV KUMAR

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What are the criteria regarding TURNOVER for changing format of financial statements of non corporate entities ??

BY: SUDIP KUMAR MUKHOPADHYAY

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What are the criteria for changing format of financial statements of non-corporate entities wef 01/04/2024 ??

BY: SUDIP KUMAR MUKHOPADHYAY

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While calculating Eligible input GST for GST refund under inverted tax strucure, authorities are not reducing Adjusted turnover after reducing Inverted sale on account of trading activities Can we appeal against it

BY: Mahesh Kumar

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A company was listed in the previous year 2024-25 in july month on stock exchange. Weather we have need to file sft return or not since there is a clause under section 285BA - Receipt from any person of an amount of aggregating to ten lakh rupees or more in a financial year for acquiring the shares I have a query weather we need to file the return or there is any exemption for listed companies.

BY: GAURAV KUMAR MISHRA

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The statutory auditor for co operative housing service society registered in the state of Gujarat shall be appointed by the registrar or the managing committee of society ?

BY: CA KEYUR SUKHWANI

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We have sent one consignment of 18 kg by Courrier to canada on Proforma invoice stating sample consignment . Value stated is CAD 400 Rs 24600- without giving bifurcation of Value and courrier charges. An amount of Rs 15500 Taxable value + GST has been paid to courrier company Are we to reverse input on 24600- minus15500 @5% Further can we take input credit for GST paid to courrier company?

BY: Mahesh Kumar

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In the year 1997 i had created one HUF with the gift amount of Rs 5,100 from brother in law. I had drafted the Gift Deed on the stamp paper of Rs 2/-. Today we have to creat one new HUF. Please advise the compliance to be done

BY: RAJEEV KUMAR

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A registered person runs a restaurant and a guesthouse on the same premises. The restaurant pays GST at 5% without ITC. Rent of ?60,000 is paid for both under a single bill, with GST under RCM at 18% (?10,800). In this case, which option is more suitable for claiming ITC for the guesthouse portion? Option 1: Based on the ratio of outward supply. Option 2: Specify separate rent for the guesthouse and restaurant in the rent agreement, obtain two invoices, and claim ITC of GST paid under RCM for the guesthouse rent. Suggestions are welcome!

BY: SHABBIRALI ABBSBHAI CHAUDHARI

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We are sending free samples abroad Indian Rs Value around 24000- through Proforma Invoice. Whether IGST has to be paid If yes How this is to be mentioned in proforma invoice and reported In GSTR 1 and GSTR 3B

BY: Mahesh Kumar

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Dear Members, a client is paying yearly royalty of Rs.75,000 to the govt dept. for excavation of quarries. His annual turnover is around 10-12L. Is he liable to pay GST RCM on royalty charges? Does he needs to obtain GST Registration? If so, does he have to pay GST on his annual turnover also? Pls elaborate.

BY: Ajith Kumar K

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GST Registration is cancelled due to non-filing of GSTR 3B for December 24 quarter. Now even after filing GSTR 3B of December 24 quarter registration is not restored. Is it mandatory to file GSTR return of January 2025 to get registration restored (when quarterly filing is opted) ?

BY: CA. SURAJ KUMAR CHOUDHARY

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Private Limited company having only two directors on Board, One of the Director expired, whether spouse (already shareholder) can be appointed in place, what's procedure for the same. I presume - Obtain DSC, --> DIN ---> Board Meeting ---> DIR 12 will suffice or General Meeting required or otherwise

BY: CA. SURAJ KUMAR CHOUDHARY

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My proprietorship firm was merged in to another firm in 2020 but now i want to practice with my own trade name but wants to continue as partner in that firm. what procedure i have to follow? we have also entered in to partnership at that time in 2020? will it continue? or to enter in to new partnership?

BY: PRATIK

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if a NRI is having loss on house property in India can it adjust foreign salary income with it in Canada

BY: Mahesh Kumar

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While sanctioning GST refund Authorities are reducing Input on trading activities but not reducing GST output on such sales Which is not logical. Whether they are correct

BY: Mahesh Kumar

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I have 6 years of experience in practice as a Chartered Accountant under a proprietorship concern. I am exclusively associated with my firm. A fellow CA, who is also exclusively associated, has 3 years of experience. We are not in a partnership—my firm is still registered as a proprietorship concern. As per the eligibility norms for empanelment of audit firms , under **Category IV**, it appears that a proprietorship concern can be eligible for bank audits with **2 CAs exclusively associated** with the firm, without needing to convert to a partnership firm. Can someone please clarify: - How can a proprietorship concern have 2 CAs exclusively associated, as required under Category IV? - Is it acceptable under ICAI/empanelment rules for a second full-time CA to be employed or associated in a proprietorship concern without converting into a partnership firm? - If the answer is to appoint as an employee, then can my friend continue with his Propeitorship Concer? Your insights would be appreciated!

BY: JAY KUMAR KUMRANI

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I have a sole proprietorship firm and i am a partner in another partnership firm as well. I know that my status is not full time partner in the firm but my query is that being a part time partner in the firm, can I sign bank audit reports or other reports on behalf of the firm or not?

BY: TRIBHUVAN ADITYA SINGH

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Can a CA file TDS return of client under his DSC after adding himself as a key person

BY: Mahesh Kumar

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Hi Everyone Till Last year we were able to see our website created via pdicai.org for chartered accountant which is now not working. Please let us know whether the above said services is discontinued by ICAI.

BY: CA. M.I.M. AZAM

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If three CA Firms want to form a new CA Partnership Firm by merging of all CA Proprietorship Firms, the head of in charge should be oldest firm or any CA firm can be head in charge for applying Firm Name Approval. What form should be applied for approval of new firm name for merging the firms

BY: AKHILESH KUMAR SHRIVASTAVA

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Dear Professional collogues, What year i have to mention as year of accumulation in the following case. Financial year is 2017-18. Form 10 was filed on say 31-08-2018. Then what year is referred as year of accumulation whether it is 2017-18 or 2018-19. Thanks

BY: ESWARAIAH Y

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GST registration was earlier surrendered due to turnover fall below threshold. Now turnover is expected to cross threshold in coming year, in this situation, whether Fresh registration is to be restored from 01-April or from the date of crossing the threshold for turnover. Regards

BY: CA. SURAJ KUMAR CHOUDHARY

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Is it ok for a proprietor to purchase car in his name and bring it in his books giving credit to capital account. This has to be used in the profession use only

BY: Mahesh Kumar

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For FY 2017-18 unable to apply 85% of income, filed form 10 specifying the last date for accumulation as 31.03.2023. But AO states it should be applied latest by 31.03.2022. Whether he is correct. The remaining conditions are satisfied. Thank you

BY: ESWARAIAH Y

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JOB WORK CAPITAL GOODS TO RETURN IN 3 YEARS Dear Experts For our pharmaceutical client, wherein equipments were send to job worker / Loan Licence sites it has been advised to get such equipments back max in 3 years else revese ITC availed quoting sections 143 & 16 According to Section 143 of the CGST Act, capital goods sent to a job worker must be returned to the principal within three years from the date of being sent out. If not returned within this period, it is deemed as a supply from the principal to the job worker, and GST is applicable. As per Section 16 of the CGST Act, you can claim ITC on capital goods sent to job workers, provided they are returned within the stipulated period. If the capital goods are not returned within three years, the ITC claimed may need to be reversed. while business manufacturing and job work agreement are continuing and can be supported with jobwork in and job work outward challans, still institing on physical movements is somewhat hard to belive Please suggest way out if any or physical take back and re-send is the only option

BY: VIPUL JHAVERI

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Trust is provisionally registered for three years for the period 2023-24 to 2025-26. Trust activities started in 2023-24 but failed to apply for regular registration from 2023-24. Now which section is to be selected for applying 12A and 80G application as trust failed to convert provisional registration into regular registration ?

BY: SACHIN INGAWALE

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Dear All, A 12AB registered Trust wants to accumulate its surplus income for application in the future years. Since the accounts are not yet finalised, they were unable to determine the amount. Do the trust need to pass the resolution for accumulation before the year end i.e. 31/03/25 or is it ok for them to pass the resolution once the accounts are finalised and file the Form 10 before the due date. Thanks.

BY: CA. VASUDEVAN P K

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Can a CA form partnership firm with a company secretary and is eligible for Statutory bank audits?

BY: Mahesh Kumar

Total Answers : 4 | View Answers | Post Answers

We are planning for change in Firm Name and Change in Profit Sharing Ratios amongst same partners. No new Partner is being added nor anyone is retiring. I want to know will it have any impact on our eligibility for Bank Audits, seniority of Firm etc.

BY: KRUSHNAKUMAR SARDA

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A LLP consisting of a CA and a CS as partners, Can it do statutory Bank Audit and other Audits

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

Is breast implant surgery on transgender chargeable under GST? As per guidelines issued by Indian Association Of Aesthetic Plastic Surgeons such surgery is gender affirmation surgery and not in nature of cosmetic surgery. It is considered as medical necessity.

BY: KRITI GUPTA

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We have to send one parcel with export invoice to Brampton,Ontario State CANADA.Please advice the import duty as well as GST to be charged by that country.

BY: Mahesh Kumar

Total Answers : 2 | View Answers | Post Answers

Is indirect income received on account of return of expiry medicines is chargeable in GST?

BY: CA. SURAJ KUMAR CHOUDHARY

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After saving Draft appeal on ITAT portal, whithin how much time should be finalised and submitted

BY: Mahesh Kumar

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For FY 23-24 - Turnover Rs 1.50 Cr. Showed 15% profit. Filed ITR 4. In FY 24-25 - Turnover Rs 90 Lakh. Ready to prepare PL and BS fully and file ITR 3 with full disclosure. Profit 15%. Should the client do audit in FY 24-25?

BY: Sivaraman A.R.

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How to present redeemable preference share capital in financial statement. Please answer for both equity and liability part.

BY: GAURAV SHARMA

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A trust which has been in existence for 3 years, not registered, applied for registration and was granted the same u/s 12(ac)(vi) (b) from 2024-25 to 2028-29. The charitable activities has been ongoing since 3 years. Should the trust apply for regular registration now and also request for condonation ( since 6 months has already elapsed from the commencement of charitable activities) or should the application be made only by 2028-29? For the past 3 years return has been filed and tax paid at MMR. Thank you.

BY: sandhya

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I am planning to take COP and start my own practise however i have one existing tax consultant firm on my fatherin laws name. Can i take the firm name and registar it in ICAI rather than opening a new firm. Further I am planning to start a consultancy business which will be in partnership with lawyer, Tech employees to provided full financial and legal assistance to the customers, Can I do this without impacting my COP status?

BY: EKTA CHHALLANI

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Considering the amendment and discussion and the fact that the appellant has submitted that he was not aware of nay notices for the income tax department due to change in his residential address and now the appellant has submitted the details and wishes for an opportunity to present the same, it would be appropriate to set aside the order passed under section 144 and remand the case to the A. O. for fresh adjudication. The appellant shall submit all the relevant detail to the ld. AO., who will examine then on their merits. Accordingly, the case is remanded back for a fresh assessment. Please advise for the stratagy.

BY: RAJEEV KUMAR

Total Answers : 4 | View Answers | Post Answers

Considering the amendment and discussion and the fact that the appellant has submitted that he was not aware of nay notices for the income tax department due to change in his residential address and now the appellant has submitted the details and wishes for an opportunity to present the same, it would be appropriate to set aside the order passed under section 144 and remand the case to the A. O. for fresh adjudication. The appellant shall submit all the relevant detail to the ld. AO., who will examine then on their merits. Accordingly, the case is remanded back for a fresh assessment. Please advise for the stratagy.

BY: RAJEEV KUMAR

Total Answers : 3 | View Answers | Post Answers

Considering the amendment and discussion and the fact that the appellant has submitted that he was not aware of nay notices for the income tax department due to change in his residential address and now the appellant has submitted the details and wishes for an opportunity to present the same, it would be appropriate to set aside the order passed under section 144 and remand the case to the A. O. for fresh adjudication. The appellant shall submit all the relevant detail to the ld. AO., who will examine then on their merits. Accordingly, the case is remanded back for a fresh assessment. Please advise for the stratagy.

BY: RAJEEV KUMAR

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Has anybody idea how much import duty and GST is charged in canada for import from India on readymade garments

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

While filing online appeal before ITAT against the order of CIT appeal,whether Hard copies of physical documents are also required to be submitted

BY: Mahesh Kumar

Total Answers : 4 | View Answers | Post Answers

Notice under section 250 has been issued by CIT Appeal after the expiry a period of 5 years from the date of filing the application of appeal to CIT Appeal. Please advise the provisions in act for time barred / void notice.

BY: RAJEEV KUMAR

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