Neha
This Query has 1 replies

This Query has 1 replies

29 February 2024 at 17:22

Compliance Mismatch

Sir/Madam
Please clarify in ITR 2 of FY 2022-23 amount of Income on deposits has been wrongly taken being amount of interest on savings bank
and the correct figure of interest on FD has been shown as a separate entry against others in ITR
Now on comparison with AIS in Compliance matching Interest on Deposit as per return is not matching with interest on deposit as per AIS
Notice to explain Interest mismatch has been received by me
How to address this issue
Please Guide

Thanks a lot in advance


Marimuthu
This Query has 1 replies

This Query has 1 replies

29 February 2024 at 17:12

TDS On champer

Dear Experts,
1 A company is remitting the specified amount which is more than Rs 1.00 Lakh, to its business champers of society.
2 It was paid towards membership fees.
3 Whether the TDS will attract?
4 If so, under which section?
5 Pls clarify


naveen
This Query has 1 replies

This Query has 1 replies

29 February 2024 at 17:02

Sec 281 of the Income Tax Act

Hi,

Whether CA is required to issue certificate under Sec. 281 of the income tax act or through A.O. Procedure to apply such form application.


TRIBHUVAN PUROHIT
This Query has 1 replies

This Query has 1 replies

Dear Sir,
There is one HUF wherein Karta expired
Leaving behind wife son and daughter co-parceners

Now son to be made new karta as per mutual understanding
But how to update the same in Income Tax record

please let me know
Thanks in Advance

Regards


saumitra chakrabarti
This Query has 1 replies

This Query has 1 replies

29 February 2024 at 16:58

Digital Signatory

Suppose Mr. X is a digital signatory in a Company for issuing Form 16 and submission of TDS return 24Q. Now, if any misstatement or concealment of fact happens in the TDS return 24Q, how far the digital signatory will be held responsible for that ? Will he/she be subject to penal proceeding or prosecution ?


Kunal Pansari & Co.
This Query has 1 replies

This Query has 1 replies

29 February 2024 at 16:24

Notice U/s 74(1)

We have been issued a notice U/s 74(1) for violation of Section 16(4) for the FY 2018-2019.
The due date of availing ITC for the FY 2018-2019 was 20-10-2019 but our March 2019 GSTR-3B was filed on 22-10-2019
The department has imposed a Tax of Rs. 414816.33 and also the additional penalty of Rs. 414816.33 which makes it total of Rs. 829633.
Now we have 2 questions :
1. Can notice be issued U/s 74(1) for merely violation of Section 16(4) because in my opinion it is not a willful evade of taxes.
2. Can Notification No. 18/2022 dated 28-09-2022 which increase the time limit to avail ITC to 30th of November used to avail ITC of FY 2018-2019


rahul deshmukh
This Query has 1 replies

This Query has 1 replies

29 February 2024 at 15:46

TDS @ 20% for inoperative PAN

Can 20% TDS deduction made on non-linking PAN be claimed by deductee?


Vaishali jain
This Query has 1 replies

This Query has 1 replies

29 February 2024 at 15:36

Director Lease out House to Company,

Can a Director lease out the house to The Company and live in the same house?? Rent/lease amount is as per market value only. The Company is closely held company and Director is the shareholder of the Company as well.

Can this arrangement be done? If there is any impact in Company's act also Kindly let me know?


Venkatraman Iyer
This Query has 5 replies

This Query has 5 replies

29 February 2024 at 15:03

Withholding Tax question

Hello,
Can a Foreign Company with no PE but has a PAN can request for a lower Withholding tax certificate.


Alpesh Patel
This Query has 3 replies

This Query has 3 replies

29 February 2024 at 12:30

Deduction to save CAPITAL GAIN TAX

I sold open plot of land in 1.40 crore. Indexed Cost of purchase is 0.24 crore. LTCG is Rs. 1.16 Crore. I want to save capital gain tax by following exemptions.
I have purchased Tax Saving Bonds (54EC) of Rs. 50 Lakhs and want to purchase new residential house value of Rs. 70 Lakhs (Sec 54F) . Thus total investment comes to Rs. 1.20 crore.

Queries
1. Can I claim both deduction u/s 54 F & 54 EC ????
2. If investment in bonds partly and investment in new residential house party is possible??

Please help.