The doctor is not liable for GST on the consultation fee as it’s healthcare service & exempt. The intermediary is liable to charge and pay GST on its commission. If the annual turnover exceeds Rs. 20 lakh or involves inter-state supplies, the intermediary will have to apply for GST registration. (read more)

1. GST registration is not applicable because the aggregate turnover does not exceed Rs. 40 lakh, and the rental income alone (Rs. 24,000) is below the Rs. 20 lakh threshold for services. 2. ST registration is not applicable. The trader deals exclusively in exempt goods, and the taxable rental income (Rs. 24,000) is below the… (read more)

Under Section 44AD(4), if a taxpayer opts for presumptive taxation in any of the previous five years and then opts out in a subsequent year (by filing ITR-3 with books of accounts), a tax audit is required if: The income exceeds the basic exemption limit (Rs. 3 lakh for FY 24-25 under the new tax… (read more)

Yes, the evidence attached with Form 35 will be treated as additional evidence since it was not submitted during the assessment. Yes, an application under Rule 46A is required for the CIT(A) to consider this additional evidence. The assessee should substantiate why they could not participate earlier and why the evidence should now be admitted.… (read more)

Madam, The article has been published in our articles section at this link https://itatonline.org/digest/articles/transactional-net-margin-method-bridging-theory-and-practice-in-transfer-pricing/ It has also been pushed to our Twitter and telegram channel. With best regards, Editor (read more)

The ITR itself does not have a specific "check procedure" to confirm sufficient money for a land purchase. Instead, it’s a tool to declare income and assets, which the tax authorities use to cross-verify financial capacity during scrutiny. To avoid issues, the assessee should ensure their declared income, savings, or exempt sources (like loans or… (read more)

There is no fixed timeline in the DTVSV Scheme, 2024, for issuing Form 4 after Form 3 submission, but it should typically take 15-30 days under normal circumstances. Your two-month wait (since early January 2025) indicates a delay, likely due to administrative backlog. To move forward, verify your submission, file a grievance with the CIT… (read more)

The Income Tax Act does not limit the number of times an individual can purchase gold or silver jewellery in a financial year. The assessee can make 1, 2, or even 10 purchases (as in your case, 2 transactions of ₹5 lakhs each), provided: - The source of funds for each transaction is explained (e.g.,… (read more)

There is no specific cap on wedding expenses under the Income Tax Act for personal purposes, but personal expenses are not deductible. The tax implications arise only if the source of funds is questioned. Wedding expenses for a daughter’s marriage cannot be claimed as a business expense under Section 37(1) because they are personal in… (read more)

For the amounts covered by Form 26A, the assessee is safe from disallowance. For the remaining amounts, the AO’s proposed addition under Section 40(a)(ia) is legally sound unless the assessee can secure Form 26A or convince the authorities (with judicial precedents) that the revenue’s interest is not harmed. The submitted evidence strengthens the case for… (read more)