Hi, how are you all doing?
Chustho, durustho, mastho, mast mauj bahar.
Welcome to a new episode of Dharamai.
My name is Shreya Gupta, your friend, your companion, your
companion, your sympathizer, your well-wisher.
I am here with you today to discuss this text.
And sir, I want to talk about a new section.
The name of the section is 43.
Its number is 43CA.
43CA.
If 43 started accountants come to a meeting, what will you
call them? 43CA.
You will remember this.
The point is, what were we doing in this chapter till now?
First, tell me what have we been doing in this?
We have been doing this, that the profit we are getting,
after sales, minimum purchase and spending, the profit that
is remaining, we are basically spending more.
Our objective is, the more we spend, the less profit we
will earn.
So that our income tax fee is less.
This is our objective.
But the government is injecting and saying that they are
setting limits. Like you saw in the partnership firm
lecture, they had set limits.
You used to get some expenses according to the actual
payment.
The employer's contribution was done.
Do you remember that?
The employee was standing under the peepal tree to buy
crackers. The bonus point for Diwali.
Do you remember that?
What I want to talk to you today is about the builders and
the real estate business that they do. I want to talk about
that.
Because business and profession is about covering different
businesses.
This is our objective.
So, understand the story of a person whose job is to buy
property.
This is his business.
What is business? He bought the property.
He held it for 6 months, 1.5 years, 2 years.
When the value of the property increased, he sold it in the
market. Today, he bought a house worth 1 crore.
In 6 months, the value of the house increased to 1 crore 10
lakhs.
He sold it for a profit of 10 lakhs.
What is my business?
It is a property business.
My main business is property.
It is all about property.
Who has all the fights in this world?
It is all about property.
Now, what do we have to discuss?
P&L will make its own video.
It will show in sales.
What will it show in purchase?
The property that he bought.
Now, tell me one thing.
Can cash be involved in the transactions of the property in
sale or purchase?
Can it be done?
Yes, it can be done.
Cash is involved.
Cash is generated and cash is involved in the transactions
of the property.
What do I have to do in this?
If I am buying a house,
I will show that I bought it at a very high price.
What will I do in this case?
I will make all the payments.
I will make all the payments through cheques.
I will show that my purchases are at a very high price.
For example, the purchase is worth 100 crores.
And when I do sales, how will I do sales?
I will do some sales in number 1 and some sales in cash.
What will I show here?
This sale is worth 70 crores.
And I will keep the remaining 70 crores in cash.
What will happen with that?
The sale is worth 70 crores.
The purchase is worth 100 crores.
Profit? No profit will be left.
All the losses will come.
Make it 30 crores.
All the losses will come.
Nothing will be left.
These transactions used to happen.
If there was no law, these transactions used to happen.
The country's downfall used to happen.
To monitor these transactions, a new section was taken by
the government.
43 CA.
What does 43 CA say?
It simply says that your business is a real estate business.
It is a property business.
So the value of your property can be the same.
It can't be the same for women.
How much will you spend?
And even if you do, for that, I have told you about that
section.
Section 36-37.
If you follow its conditions, you will get a deduction.
You have to talk about the value of your property.
So what is the value of the property?
It is a simple thing.
The fair value of the property.
In a way, you will get it reduced in terms of sales.
Where will you get it reduced?
What will be your objective in terms of sales?
It will be to show it less.