Anonymous

Is Tds liable for interest received on accident claim from insurance company ?

The insurance company deducted tds of 40000/- on interest received 400000 on accidental claim reflected in 26AS. And the interest amount is cross the exemption limit 300000 for senior citizens.

The hurdle we are facing on filling income tax return to get the refund due to have only one source pension income receive from haryana government which is restricted to 300000 income limit. And 4 lacs interest amount is received which is one time income.

After filling income tax return, Is it impact the pension income?


Suresh S. Tejwani
02 January 2025 at 18:46

REGARDING BELATED RETURN IN OLD SCHEME

If i have filed form 10iea on 16-sept-2024 and now i want to file belated return under new tax regime being defaukt tax regime can i file the same under new regime...??

Since, original due date to file return under old tax regime is lapsed hence our software is not allowing us to create json under old tax-regime.

What to do in this case?


Chandra Kala
02 January 2025 at 12:16

GST Applicability on sale of plots

Whether GST is applicable in the case of realestate of regular purchase and sale of sites / plots (Including development of plots)


Prashant
01 January 2025 at 17:44

Taxds on training

On Corporate Training Programme what is the TDS rate applicable?


Rajkumar Gutti
01 January 2025 at 15:49

Grocery given to poor people

We have purchased grocery items, like as Rice, wheat, soap, sugar, tea powder, edible oil, pulses, etc and distribute to poor people as a donation ( this is not our trading commodity ).
Yearly our purchases near about 2 crore.
Can we are liable to pay tds under 194 Q ( Tds on Purchases of Goods ) .
Is said grocery comes under definition of goods


P.Madhivadhanan
01 January 2025 at 13:57

Section 50C vs 56(2)(x)

An assessessee who purchased a property for Rs.1crore whereas as per stamp value is Rs.1.50 crores. The assessee deducted TDS u/s 194IA on 150000 stamp value and paid the 9850000 to the seller by way of cheque. As per income tax act 50C Will attract to the seller. Suppose, if seller paid the capital gain tax on the basis of sale consideration as stamp value even then 56(2)(x) attracts to purchaser.


Suresh S. Tejwani
01 January 2025 at 13:28

Regarding demand on revised return

I originally filed return within due date but department has not allowed to carry forward the loss of short term capital gain.
So i revised the return but in revised return again department has not allowed the same and raised the demand for revised return of rs. 1,000.
what to do in that case..??


Suresh S. Tejwani
01 January 2025 at 11:55

REGARDING FORIEGN REMITTANCE EFFECT

WHERE FORIEGN REMITTANCE NEED TO BE SHOWN IN ITR? AND FINANCIAL STATEMENTS?


Mohit sachdeva
01 January 2025 at 11:14

Disallow expense under section 35d

i have received notice under section 270a for demand notice of penalty in regard to addition which made in appeal order. and we have refund which is on hold. my query regarding whether penalty can be levied or not???


saibal sen gupta

SHARE OF PROFIT IN A PARTNERSHIP FIRM IS WRONGLY TAKEN IN COMPUTATION OF TAXABLE INCOME IN A BELATED RETURN U/S139(4) .CAN IT BE RECTIFIED US 154?






CCI Pro
Meet our CAclubindia PRO Members

Follow us



Answer Query