What is the Residential status of a person if he goes onsite in August in FY 22-23 and returns after 31, March 2023 to file ITR in India?

i am converting my proprietorship business (95Lakh turnover) to private limited,
1st is trading of scrap (kabad) (putta, metals etc) , do i need to charge TCS in pvt ltd.
2nd is should i need to deduct TDS and TCS everytime before i pay to someone,
3rd is i pay my parites (purchases) in cash, does making it pvt ltd will impact it?

If I have bought a House and my son has taken Home Loan on which I am a co applicant. My Son is paying the EMI's. Can I claim the deduction u/s 24(b) for interest amount and u/s 80C for principal amount

Income tax return for F.Y.2021-2022 not filed within due date.
TDS on Professional (fees 194J) is to be claimed as refund but refund has not been claimed due to Income tax return not filed within due date.

In the excel utility for ITR U, ITR-4, in TDS sheet, there is an option carry forward the tds.
Can we carry forward the unclaimed TDS to F.Y.2022-2023 by filing ITR U of F.Y.2021-2022?

Hello,
I work for a MNC listed on nasdaq and work out of their India office. I have been receiving stocks in the form of RSU and ESPP for last eight years. I have not sold any of those stocks in these years. Since company already deducted the tax, I was under impression I will need to disclose them in ITR only when I sell them. But after reading these articles on this site, looks like I need to declare that every year. I will do that going forward but what can I do for earlier eight years?

Thanks!!

Hi,

We want to pay a Super Senior Citizen Rs. 40,000/- per month who has no any relative.

But If we pay him as salary PF and PT need to be deducted.

We don't want deduct PF/PT or TDS on this.

then how can we make payment to him without deduction.

Can I show it is as CSR expenses ?

Respected Sir / Madam,

One of my clients had a property which he co-owned with his parents. Though the ratio of ownership was not mentioned in the Builder-Buyer Agreement, he had the details of cost of acquisition contributed by each of the co-owners.

However, when this property was sold (my clients being confirming party in Tripartite Agreement between Builder, Buyer & my Co-owners Clients as registration was not done by clients after allotment by builder after possession), the sales consideration was paid in a different ratio & TDS deducted accordingly.

Now while filing ITR, for LTCG on sale of such property,
(1) Sec-194-IA is applicable for transferor & transferee, and here the transferor is Builder & transferee is Buyer then why TDS deducted on client's sales consideration? Is there any exception to Sec-194-IA?? Though I have claimed Self-occupation benefits during filing ITRs of my clients as per Sec-27 Deemed ownership as possession was given by builder to my clients.

(2) Should we show sales consideration which the buyer paid to co-owners & TDS deducted u/s-194-IA OR apportion the sales consideration on the basis of ownership (investment cost) of each co-owners?

(3) COA should be indexed separately for each co-owners OR apportion the total COA in the ration of sales?

AS per law, Sales consideration & COA should be in the ratio of ownership (cost of investment) to compute correct LTCG but to apply the provision of laws now, will my client receive any notice from IT Department in future as sales consideration will mismatch as per Form 26AS & Form 26QB?

Please advise.

Unlisted Shares of a Company Incorporated in India are Held by a Non Resident Company (100% Holding). These shares are now being transferred to another Non Resident Company. What are the Sections with regards to LTCG Tax and if TDS also attracted under any Section.

Hello, Sir
With information on my salary and capital gains, I'm filing an ITR 2.
Even though I successfully completed the entire form, the tax-paid details eventually disappeared from Part B -TTI.
I tried logging out and logging back in again, but the issue persisted.
Part B -TTI contains the all the tax paid details in beginning of filing.

We are making payment under technical testing and analysis fees to FSSAI (Food Safety and Standard Authority of India). So, do we need to deduct TDS for the same or same will be exempt u/s196 of Income Tax.