A company has received invoice for 10000 usd for technical service provided by foreign company located in germany through online mode. Foreign company doesn't have PE in India.

Is tax needs to be deducted? If yes then at what rate ?

One of my client (Proprietor) is having manufacturing unit having turnover of 1.5 crores during F.Y. 2023-2024 and Business income is 5 lacs and the same is being audited under 44AD section. Also he has Commission Income of Rs. 25 lacs in addition to Income from manufacturing unit. Earlier the Commission was shown in Other income but from the current FY the same income is being assessed as Business Income as per Income tax.
GST number is same for Both the Business.

My query is that Whether I can do audit of manufacturing unit under section 44AD and Commission income to be shown in ITR as other Business income . Whether that Business income (Commission income) can be shown unaudited in the ITR as Second business Income.
Or Both the Business to be audited.
Pl guide.

IF TURNOVER OF LLP IS LESS THAN 1 CR SPECIFIED LIMIT THEN TAX AUDIT U/S 44AB IS LIABLE IF NET PROFIT IS LESS THAN 8% OR 6% AS THE CASE MAY BE?

Anyone has received intimation of 37BA in which TDS has been disallowed without any explanation given?
If yes what is the remedy of such?

Hi,

I have 2 daughters, 7 months and 3 years old. Me and my wife are both salaried professionals. I want to invest in Sukanya Samriddhi Yojana (SSY) for both my daughters. Me and my wife already invest in our own PPF's. I have a few queries:

1. Can I pay in SSY for both my daughters ?
2. Can I pay in SSY of one daughter and my wife can pay in SSY of the other daughter ? If my wife is paying in one daughter's SSY, she has to be made the legal guardian for that daughter's SSY?
3. Can my HUF pay in SSY of my daughters ?
4. Can my father's HUF pay in my daughter's SSY i.e grandfather's HUF paying for SSY of granddaughter?
5. Can my father pay in my daughter's SSY i.e grandfather paying for SSY of granddaughter?
6. When the account turns 21 years, the maturity proceeds will be given. Will the income generated by this amount be clubbed with my income after 21 years?

Thanks in Advance.

The matter is as below:

In an Charitable Organization, one fixed asset of Rs. 10 lacs is booked twice in FY 2021-2022. So one amount can be reversed in now as it was twice booked. Depreciation is charged on both amount from FY 2021-2022

If Order of ITAT has been issued and Case is Remand back to CIT(A)
So now we have to file appeal against CIT(A) again?

How are allowances such as House Rent Allowance (HRA), Sumptuary Allowance and Compensatory Allowance to Honourable Judges of High Court judges, previously exempt under the Income Tax Act, treated under the new tax regime?

Is there any specific notification or circular issued by CBDT regarding the treatment of these allowances under the new tax regime? If yes, please provide a copy.

Interest income generated from Foreign contribution (FCRA a/c) is treated as deemed foreign contribution. It is merely an income but not a voluntary contribution. if it is so, in which clause it should be reported in form 10B. No, specific clause found for me. Is it required to disclose such income in form 10B.

What if a company opts for section115baa...then interest on Fixed deposit would be taxed at 22% or 25%...and if company has rental income too then deduction under section24 would be allowed?