Dear Experts,

I seek clarification regarding the inclusion of gratuity as part of the Cost to Company (CTC). Many companies include gratuity in the CTC structure, but as I understand, gratuity is a loyalty benefit paid by the employer only after the completion of five years of service.

If gratuity is included in the CTC, should it be paid to the employee as part of the full and final (F&F) settlement upon exit, even if they have not completed five years? Additionally, is it appropriate to include gratuity in the annual package from a compliance and ethical standpoint?

I would appreciate a clear perspective on this matter.

At which rate TDS need to be deducted on the above subject, Suppose I have made sale agreement of RS. 11,50,000 then how much TDS should be deducted and in which time it should be paid to the income tax department.

Also explain what are the tax implication in the hands of NRI.

If a parent is the proposer and payer of a single-premium ULIP that insures the life of his adult child, the parent has effectively bought the ULIP on behalf of the child. I have the following queries:
A. Would the ULIP need to be reported on the parent's Schedule AL at the end of the tax year or would it be deemed a gift to the child? If the latter, is a gift deed required?
B. Are insurance companies required to report ULIPs on AIS/AS26? The question arises because ULIP is not a security like shares or mutual funds. If reported, would it be on the AIS of the parent's PAN, the child's PAN, or both?

I am about to buy property from NRI seller and have deducted TDS amount and deposited in advance but while filing form 27Q it was showing that i can file for latest Q3'24 instead of Q4'24 and the date i was filing form was 02 Feb 2025 . Now i have received notice Regular Statement filed is processed with defaults and / or PAN errors u/s 200A. Property registry is about to happen. Any help.

There is a case in which the deductor has revised the tds return before tds return has been processed and corrected the error. Now the deductor has received the notice to pay late fees along with additional late filing levy against processing of latest correction.

What could be the probable solution for the deductor party?

RERA Registration is mandatory for Rural Areas

An agricultural land of 3-5 acres was converted into DC Converted plots for sale for residential purposes.

Is it required to get Registration under the RERA Act.

I have registered the agreement and paid stamp duty @6% of total consideration = 8,10,000. There are two buyers with 95,00,000 and 40,00,000 contribution.

For First Buyer:
Question-1
"Total value of consideration (property value)" = 95,00,000 [ As per the contribution - Is this correct?]

Question-2
then "Amount paid/credited currently (B)" should be 95,00,000 or 94,05,000 (i.e. amount paid to seller after TDS deduction = 95,00,000 - 1% TDS = 94,05,000)

Question-3
Difference between "Amount paid/credited currently (B)" and "Total Stamp Duty Value of the Property (C)" is greater than 20% i.e. 20.32% and giving warning message. Should I proceed for TDS payment or make C = B?

Sir/Mam,

We have received mail from ICEGATE Escrips.

Any New Facility started in ICEGATE for automatically escrips

Can We use this Escrips,

plz kindly explain the process of Escrips

Thanking you,

Dear Sir

I am 51 single, divorced and have one little sister who is 32. Recently I lost my job, and I am not in the mood to search for a new one. I am in the process of making arrangement to fulfil my monthly needs. I am holding the NPS which has a small corpus of 5 lacs in tier 1 and 45k in tier 2. Now I want to completely exit from the NPS. Now I must compulsorily accept the 20% withdrawal and 80% annuity. I have a few queries below.
1. Should I consider buying 100% annuity. 20% withdrawal does not make sense
2. Should I consider putting 1.5 lacs more to enhance the annuity (The corpus will become 7 lacs approx.).
3. Should I consider taking out the annuity on a yearly basis (Please explain Its pros and cons), since it offers more benefit.
4. Should I consider the Shriram life insurance.
5. Will it be safe to consider Shriram life insurance for life long future annuity. It offers the highest annuity.
6. Should I consider Annuity for Life with ROP - Subscriber will get annuity for lifetime and on death of the Subscriber, payment of annuity ceases & 100% of the purchase price will be returned to the nominee(s). The annual offer is 49,063.00 (7.01%)
7. Should I consider Annuity for Life without ROP - Subscriber will get annuity for lifetime and on death of the Subscriber, payment of annuity ceases, and no further amount will be payable. The annual offer is 58,112.00 (8.30%)

A partner has 33% of shares in partnership firm and wants to transfer his total shares to his son, whether the transfer will be done just by admitting his son as new partner , or by way of gift