Yes. There is no bar to claiming 54F only against LTCG on some shares and c/f LTCL on other shares to next year. (read more)

The CIT(A) is supposed to be an independent authority with quasi-judicial powers. He is not "bound" by the remand report on the AO & is entitled to hold on merits that the AO's view is wrong. (read more)

The amount can be withdrawn after the stipulated period (3 years) by closing the account or making a partial withdrawal. The bank may require a certificate from a Chartered Accountant or a declaration that the amount was not used for the intended purpose. The Bank will report this fact to the IT Department. The exemption… (read more)

As far as I am aware, Banks normally offer a working capital limit of 20–25% of the annual turnover for MSMEs. They also consider profitability to ensure loan repayment. I suggest you Visit the nearest branch and speak to the relationship manager to confirm the exact OD limit, as it depends on the bank’s internal… (read more)

Generally speaking, Banks normally require monthly stock statements for OD loan against inventory or working capital. The exact margin and minimum stock value will depend on the terms of the OD agreement. (read more)

Prima facie, it appears that you, your aunt's son do not have a legal right to the property or its sale proceeds as it was your grandfather’s self-acquired property. Upon his death, the property devolved on your father, aunt and grandmother and they became the legal owners and were free to sell it. A claim… (read more)

There is no requirement under the GST Act for a CA certificate to be obtained by a non-registered dealer with a turnover which is less than the threshold limit of Rs. 40 lakhs. However, the dealer must maintain proper records to show the turnover if asked. (read more)

Sir, all the unreported judgements are free to download at this link https://itatonline.org/digest/all-judgements/. A summary of the reported judgements are posted here: https://itatonline.org/digest/. If you need the pdf of any particular judgement, you may download it from the Court's website. Alternatively, you may ask us for it. (read more)

You must file the overdue CMP-08 forms for the three quarters (April-June 2024, July-September 2024, and October-December 2024) immediately along with applicable late fees and interest. You should report the actual sales turnover for the period 1st April 2024 to 31st December 2024 in the CMP-08 returns. The department’s mentioned sales turnover of Rs. 10… (read more)

The GST officer is entitled to ask for various documents, including Income Tax Returns (ITR), balance sheets, and bank account statements, during an audit, inspection, or scrutiny process to verify the correctness of GST compliance. These may be required to cross-check the turnover, input tax credit (ITC) claims, tax payments, and other financial details reported… (read more)