How to file return U/s 115 BAC after due date in the case of income earned by the assessee income from other sources .

Please let me know if there is any penalty for late filing of nil income tax return (my proprietorship, business income is below tax slabs)... For ITR3

Is capital gain is chargeable on sale of land received as inam / nazarana as there is absence of cost of acquisition for the same...???

what part of form 15CA is applicable in case of amount transfer self account in foreign?

Whether it is mandatory to fill in ITR the gift received and other exempted receipts like maturity-proceeds of LIC policies etc. ?

Sir, A supplier supplied books (GST Exempt) to a Govt. Department. What will be TDS rate at the time of payment and which section. Please guide me

Respected Experts,

Kindly clarify - while Calculating the Interest on Capital of Partners from which value we need to Calculate

Example: if Interest on Capital is 12%

Do we need to Calculate Interest Directly from Opening Balance of Capital

or Closing Balances ( as shown below)

Opening Balance of Partners: XXX Cr
Add: Partners Salary Payable: XXX Cr
Add: Share of Profit Payable: XXX Cr
Less: Salary paid XXX Dr
Less: Profit Paid XXX Dr
Less: Other Drawings by partners XXX Dr
Closing Balance XXX Cr
Add: 12 % Interest on Closing Balance XXX Cr

Now do we need to Calculate Interest on Capital from the ending balance as shown above

Kindly clarify

TDS u/s 194 Q to be charged on basic value or invoice value incl GST as per law..

DECLARATION:
===========
We herewith confirmed and declared that we are not having any " Business Establishment " in India. Therefore under Indian Income Tax Act 1961 NO TDS to be deducted from our commission payment since income deemed to accrued and arise out of India.

The drawee is basically NRI in Australia and we have to remit payment in US$ on account of brokerage and commission.

In such a case whether 15-CA & 15-CB are required to be filed.

Please guide me and oblige.

Dear All


I have query regarding the surrendering of the ULIP policies which I bought in the year 2005-2006.I have been paying the premium ever since I bought the policies. Now I want to surrender the policies. My question is regarding the tax implications based on deduction claimed in previous years under Section 80C on the basis of the ULIP premium. Please note one is ULIP policy and other one is pension plan yearly premium.