Can belated payments of emloyee's share of contribution towards PF and ESI disallowed u/s 36(1)(va) for the previous financial year 2021-22 be allowed as deduction in FY 2022-23or will it have no relevance in the tax computation for the FY 2022-23? Kindly clarify

Thanks in Advance

One of my client, a salary-holder, took loan of Rs.10.00 lac from one of his relative @ 5% interest and deposited the same in Bank as FDR (earning 6% interest). Whether my client can set off the interest paid on loan with Interest received from FDR ?

Dear Sir,
1 A company is using the building premies under leasing contract with the state govt transport department.
2 This state govt transport department is raising the electricity bill to this company with gst components.
3 The EB payment is remitted to the state govt transport department, not to the electricity department.
3 The query :
Whether the company needs to deduct the TDS under section 194C?
pls confirm

Can we carry forward unclaimed TDS in updated return to next financial year?

XYZ Ltd. is a private limited company. It has taken mobilisation advance from NPCC Ltd. for the contract awarded. Now NPCC Ltd has charged interest @ 12% p.a. on Mobilisation Advance as per the calculation pre defined in the agreement. The interest is deducted from the running bills alongwith other deductions directly by NPCC Ltd at the time of payment of running bills.

Now the query - Is XYZ Ltd. liable to deduct TDS on interest on mobilisation advance deducted by NPCC Ltd.? If not, please help reference to any case laws or specific provisions of the Act.

Please reply in urgent. Case related to FY 22-23 which is under audit due on 30th Sep, 2023.

Remuneration is authorized by partnership firm it is compulsory to pay remuneration to all partner as per profit sharing ration as per deed even if some partner don't want to draw remuneration firm and some partner want remuneration.

My client has received Subsidy against working capital . Whether it is Capital receipt or Revenue . If revenue whether it is shown In Profit & Loss account . whether it will b calculated for 44Ad Turnover limit for 6% or 8% profit. Pl guide.

Capital subsidy received ag machinery credited to Machinery Acnt.

Respected sirs,
Thank you for sparing your precious time.Sir, I bought a plot in 2005 whose indexed value now is 85 Rs. The cost of improvements over time( indexed is )15 Rs. Now I have sold for 150 Rs. Thus I have a clear gain of LTCG 50 Rs. Now I have to buy a plot for 50 RS or for the entire 150 RS. Kindly guide me sir. Thanking you once again.
Kumar

Interest on late payment of TDS is disallowed expense under Income tax
But what about interest paid on late filing of GST return and on interest/fee/penalty paid on late deposit of Provident Fund ?

Last year income tax log-in was registered in the old DSC and secured too. While logging in this year for the said account, the site asks for the old DSC. Whereas a new DSC after expiry is taken. In short Income Tax site can not be opened since the old DSC was registered & secured with that. Can it be not opened with a new DSC ?