my private limited company have 9L paid up capital and 15L as authorized capital can i borrow loan from my father 50L after passing resolution because i read on company act it say only 60% of paid capital only can borrow as loan, is there any way to infuse 50L loan from my father to my company

If i am paying subscription charges for use of software to MIDJOURNEY INC CALIFORNIA USA.
Payment done through Credit Card
Then TDS will be applicable or not on foriegn remittnce of the same.
and 15 CA form applicable for the same or not??

For A.Y. 2024-25 they say no tax payable till 7 lakhs… if an individual has dividend income of 5 lakhs & other income 1 lakh , will it qualify for exemption

Thanks in advance

Dear sir
A trust which was registered for exemption of its income u/s 12A of income tax act, since September,1973. ITR7 for A.Y. 2023-24 was filed on the basis of registration dated September,1973. It received a notice u/s 143(1)(a) that no registration detail for exemption found in record for the A.Y. 2023-24, therefore, submit a reply. From A.Y. 2023-24 re-registration for exemption was supposed to be done by filing form 10A, but it did not apply inadvertently on time. Now it applied for A.Y. 2024-25 and it was approved. Now how to apply for exemption filing Form 10A for the A.Y. 2023-24. Or how to request A.O. for exemption for A.Y. 2023-24. Can we write in reply that the assessee could not file form 10A inadvertently for A.Y. 2023-24?

Can we claim Unclaimed TDS of FY 2022-23... Income was consider while filing return but forgot to claim TDS
Pls guide...

Whether Foreign Exchange Translation Loss Allowed in Indonesia Income Tax? Please share the relevant act transcript.

Dear Sir / Madam,

Section 54EC of the Income Tax Act says the amount of capital gain should be invested within 6 months from the date of transfer to avail this exemption. My two scenarios are as follow:

Scenario 1 -
Mr. A sold a flat on 21/03/2024. So he can invest the capital gain amount in 54EC-eligible bonds till 20/09/2024.
But since the due date of filing his ITR is 31/07/2024, this investment is required to be done before 31/07/2024. Am I right?

Scenario 2 - Mr. A decides to invest the capital gain amount in the New house property. For resale property, he has a time limit of 2 years after the sale of the old property i.e. up to 20/03/2026 OR he can invest in self-construction or under-construction property till the end of 3 years after the sale of the old property i.e. up to 20/03/2027.
Therefore, he keeps this capital gain amount in the Capital Gains Deposit account scheme. But just before the completion of 2 years, on 01/03/2026 he decided not to invest in new property.
So my query is that: Can he NOW invest this capital gain amount kept in the Capital Gains Deposit Account Scheme (before the completion of 2 years) in 54EC-eligible bonds? or this option is gone and the capital gain not invested would be taxable in 2026?

Please guide.

Thanks & Regards,
Suraj

A Resident individual holding foreign (USA) company (pvt ltd)'s shares & If he sells the same whether he is liable to tax in USA?

This pertains to my IT return for AY 21-22. I had filed the ITR return within due date (i.e. before 31st Dec 2021). The Due Tax payment (self-assessment Tax) of about INR 2 Lacs was paid within 4 days of the filing of Tax. I also paid interest of around 7000/-, as was showing in the Income Tax system, though no interest should have been applicable

Please let know whether I can file:

1) Rectification to update my challan for payment of INR 2 Lacs: -
I was told that last date of filing rectification was 31st Dec 2023, for AY21-22. Can you please confirm whether I can file rectification. In this case I am getting Tax due of around 35,000/-, as system is not capturing date of my challan payment of INR 2 Lacs and calculating interest for delay. Actually, no interest should be applicable.

2) Updated return under 139 (8A):-

In this case, I am getting marginal refund of around 6500/- (nearly same as the interest amount I had paid), but since refund is not allowed under 139 (8A), I have to manually make it zero, before system allows the filing.

Please confirm whether 1) or 2) is the right way to proceed.

I have received RSUs from my company during the calendar years 2021 and 2023, but due to ignorance I failed to update schedule FA of ITR-2. How can I go about fixing this, will I be able to update the previous 2 ITRs using ITR-U?