Sanjay Sharma
27 May 2023 at 12:45

TDS on Credit Note & Debit Note

Dear Experts, I have a query related to TDS, we have raised tax invoice for services to the party for Rs. 1,00,000/- (GST), Party issued a Debit Note of Rs. 40,000/- + (GST) against the above Tax Invoice as well as we had also issued Credit Note for the same. Party paid a sum of Rs. 60,800/- to us after deducting TDS @ 10% on Rs. 1,00,000/-. Now party said that we have to deduct TDS on Credit Note i,e. on Rs. 40,000/-.
Should we liable to deduct TDS on the Credit Note issued by us or Debit Note issued by the party?
Thanks in advance


Saravanan

Recently (from 25-03-2023) E-Filing site showing Restricted Refund for some people and for some Bank accounts. For State bank of India shows as Eligible For refund and for again it showing as Restricted Refund. I checked with bank and it is not Inoperative account. Regular Transaction is there. No KYC problem and account is also validated & EVC enabled. Can anybody guide me regarding this issue.

Read more at: https://www.caclubindia.com/experts/restricted-refund-for-bank-accounts-in-e-filing-site-2894199.asp


Shikha gupta

I want to file my ITR for FY 2021-22, my total income is below 500000/- I am filing through ITR U but getting error as "if net payable is nil you can't file return" while filing return it shows me to pay Rs 1000/- as fee that i made through challan payment

what should i do


Daya
26 May 2023 at 14:41

Is dividend declared from PAT

is dividend declared from Profit and after Tax ?
when book dividend receivable in books of accounts, if company declared dividend on or before 31st March but not paid till 31st march.


ARVIND KUMAR SINGH
26 May 2023 at 13:49

CASH TRANSACTIONS TREATMENT

1. HOW MUCH LIMIT OF CASH RECEIVED ON NATURE OF LOAN REPAYMENT, DEPOSITS FOR A CO-OP. SOCIETY IN A DAY AND ALSO IN A YEAR BY A SINGLE PERSON OF SINGLE TRANSACTION.

2. HOW MUCH LIMIT OF CASH WITHDRAWN FROM BANK IN A DAY AND ALSO IN A YEAR


Accoun tant
25 May 2023 at 19:24

PF Interest in Income Tax

Dear Experts,

While filing ITR for an Individual who is having both Business and Salary Income.

We have included the Interest from PF Account as - Interest from Other Sources

Since the interest is below the threshold limit (ie 2.5 Lakhs) please advise where to Claim the corresponding Exemption in ITR


Chandra Kala
25 May 2023 at 17:17

Reassessment u/s 147

Is it not compulsory to issue draft assessment in the case of reassessment u/s 147


Raakesh R

Hi,
I'm working for a foreign company based in Finland and receiving salary to my Indian Bank. I'm a Indian resident. I didn't pay any tax to the particular foreign country - Finland.
I'm confused with ITR 2 - Schedule FA vs FSI

Should I need to fill both?
Can I get 50000 std deduction?

My tax auditor saying i won't get 50000 deduction b/c my company is not registered in India. And he is not giving importance to schedule fsi! He is filling only schedule FA in some software!


Arvind Mishra
25 May 2023 at 13:02

Old and new tax regime

Hi,
Suppose i had given declaration for opted New tax regime or Old Tax regime while joining the company, and company has calculated my income tax on same basis and deducted TDS.
Hence when filing my ITR can I change the regime which i had declare in company.

Please suggest.
Thanks


pawan bahl
25 May 2023 at 12:28

TDS ON SALARY and RENT

Salary is being paid to Karta Rs. 15 lacs alongwith Rent to Karta amounting Rs. 1.50 lacs for Full year. Tds has been deducted on Salary portion only as TDS not applicable on Rent being less than exmption limit. Now my query is that whether I hv to club rental income while issuing Form 16 as the same is being paid by the same employer both Salary and Rent to same employee/Landlord.
and deduct the TDS under sec 92 in the month of March 2023 or there is no need to deduct TDS on rent portion.

Pl guide.





Certificate in Quantitative Finance IIM Calcutta Applied Finance(Batch 17) GST Course
Follow us


Answer Query