Kalpana Indurkar
27 February 2024 at 12:19

Deduction of TDS on contract purchase

hello sir,
my query is I am working in a school trust recently my school purchase fixed assets of valuation more than 500000 through tender process. After completion of process the contract is given to the lowest bidder and the assets where purchase. Shall we deduct TDS on payment for the purchase.


Gangadharan nair
27 February 2024 at 11:59

ARREARS OF SALARY DEPOSITED IN PF

NO SALARY RECEIVED IN TWO+ YEARS AND AFTER THAT RECEIVED THESE SALARY IN ARREARS BUT DIRECT TRANSFER TO PF. HOW THIS INCOME IS CALCULATED IN ARREARS AS ALL THE SALARY MOVED TO PF.WHAT IS HIS TAXABLE SALARY FOR PREVIOUS YEARS.
EX. A RECEIVED SALARY FOR FY 23-24 TAXABLE INCOME 400000, HE HAS NO SALARY FOR 21-22,22-23 WHICH WITH RECEIVED 1200000 IN 23-24 AND DEPOSITED IN PF. HOW IS THIS CALCULATED FOR ARREARS AND TAX.


AUDITORS EDAPPAL

WHETHER WE CAN OPT FOR 115BAC WHILE FILING UPDATED RETURN FOR AN ALREADY FILED ORGINAL RETURN UNDER 115BAC WITHIN DUE DATE.


umesh jadhav
27 February 2024 at 10:33

EXCESS PAID Sec 195

I have paid TDS in Feb 2024, but I have excess paid under section 195. So the excess paid amount I can adjust those amount in next month TDS payment.

Sec 195 amount I can adjust with other section?


Rahul Raj
27 February 2024 at 10:29

Capital Gain Exemption income tax

A property (House property) that is owned by a proprietor firm. The proprietor wants to sell it. now the question is how can capital exemption be claimed by the proprietor.


CMA Pravat Kumar Parida
27 February 2024 at 09:48

REGARDING ITR U FILE.

WHEATHER I CAN FILE ITR U AGAINST AY 2022-23 AND AY 2023-24


nitin
26 February 2024 at 19:03

Standard deduction on rental income

Hello
I need to know whether standard deduction of 30% on rental income is applicable for a company renting out premises to a school/ college.
Kindly clarify. Thanks.


Amandeep Singh
26 February 2024 at 16:10

Invest in Mutual fund and Stock ITR

Dear Sir

I have invested Rs.220000/- in Mutual fund Via monthly SiP and some Lumsup amount and invested RS.100000/- in Stock also approximately 6 Transaction in 6 months. Its high value Transaction Can i face any notice issue from IT Department. My earning source from Salary I am regular filling ITR but invest in Stock market First Time. so Please suggest Accordingly.


naveen jain
25 February 2024 at 16:31

Updated ITR

F/Y 2022-23. Interest income was shown in ITR 2 under 2 heads - Interest from bank deposits and under Interest -others which included interest from deposit with a Pvt Ltd company. Tax was deducted on all u/s 194A. The compliance portal has shown a mismatch as it has considered only the portion of interest shown in ITR under interest from bank deposits. Can an updated ITR be filed now showing total interest under one head of Interest on deposits from banks etc. There will be no change in total or taxable income or in tax liability/ refund.


rakesh
25 February 2024 at 14:43

Last year TDS can pay ?

Sir, on last F.Y. we foregate to pay TDS of of one party, now this transection can disallowed, so we should pay this this TDS amount now.
Thanks,