IF THERE ARE 5 SELLER OF PROPERTY AND OUT OF THEM 3 ARE NON RESIDENTS AND 2 ARE RESIDENTS THEN TDS WOULD BE DEDUCTED OF ALL SELLERS OR ONLY TDS OF NON RESIDENTS IS TO BE DEDUCTED IF SALE CONSIDERATION IS LESS THAN 50LAKH?

Respected Sir/Madam
Is TDS deducted u/s 194Q on Capital goods purchased? Normally as per goods we consider only goods we manufacture or resale not capital goods we capitalized in business?? So should we deduct on capex?? Kindly advice

If an individual trader purchases scrap from manufacturer registered under MSME act then if payment not made within specified time limit, will provision disallowance applicable for such trader under 43(b)(h)?

Exhibition Charges to a Supplier has been amounted to Rs. 3Lakhs and TDS on same has been deducted u/s 94C @ 2%. Also membership fee is payable to same supplier amounting to Rs.25,000. Shall TDS be deducted on such membership fee? If yes, under which section and at what rate.?

I am seeking detailed information on the specific provisions and guidelines governing the taxation of judicial officials' income. I am particularly interested in understanding the allowances that are exempted from income tax, as per the relevant sections of the Income Tax Act.

To provide context to my inquiry, I have thoroughly reviewed the available resources on the official website of the Income Tax Department, but I believe that a direct clarification from the department would be invaluable in ensuring accurate compliance with the prevailing tax regulations.

I have attached Judgement Order copy towards tax free of sumptuary allowance, Medical allowance & Leave encashment allowace to assist in framing my query more precisely.

I kindly request your assistance in providing comprehensive information on the following points:

Clarification on the specific allowances exempted from income tax for judicial officials.
Any recent circulars or notifications that may impact the taxation of judicial officials' income.
Procedures to be followed for availing the aforementioned exemptions.

And also, major number of judicial officials in Karnataka calculating their income tax by deducting allowances (i.e., Sumptuary allowance, medical allowance & Leave encashment allowance including arrears thereon) in Gross salary before showing in computation (Only showing Net salary)

I understand that your time is valuable, and I appreciate any guidance or assistance you can provide to address my queries. If there are specific forms or documentation required to facilitate this process, please inform me, and I will promptly comply.

Thank you for your attention to this matter. I look forward to receiving your response at your earliest convenience.

DEAR SIR,

CONTRIBUTION MADE TOWARDS NPS ACCOUNT U/S 80CCD(2) BY EMPLOYER CLAIMING AS HIS BUSINESS EXPENSES. THE CONTRIBUTION MADE BY THE EMPLOYER IT IS TAXABLE IN HANDS OF THE EMPLOYEE. IF IT IS NOT TAXABLE THEN HOW SHOULD AN EMPLOYEE CLAIMING DEDUCTIONS U/S 80CCD(2).

THANK YOU

REGARDS

If I file updated return for ay 2023-24 in January 2024, upto which date can I get notice for scrutiny 143(2)?

Error in Uploading Return:

"clause 6 of Balance Sheet and any of the clause 62 to 66 of profit and loss account as applicable are to be filled if books of accounts are not maintained u/s 44AA"

Kindly help me to resolve this error.

An assessee who purchased a vacant site its stamp value exceed 110% than that actual price paid. Assessee wants to avoid section 56 deemed income due to the above transaction. what is the proceedure ?

Dear experts,

Our company made payment to non-resident, deducted TDS and remitted to government. Form 15CA has been filed. Subsequently, contract got cancelled. We informed to non-resident to adjust this payment with future invoice.
1. In this case, is it possible to adjust TDS deducted and remitted u/s 195 with future TDS deductions?
2. What will happen to the Form 15CA filed?