Return of income for the assessment year 2019-20 filed 30/09/2019 resulting in demand of tax. The date of order is 26/08/2020. Rectification request filed on 09/12/2022. Rectification processed with demand due on April 20,2023. Now the assessee is going on appeal. I request the experts to tell me if the date of order can be taken as the date of the rectification order of 20/04/2023. Or should the date of original order of 26/08/2020.

Respected Experts,

While Preparing a Financial Statements ( Eg: for Proprietary Concern)
On what Basis we can exclude the Personal Expenses being added to the P&L

Example: An Assessee has a own a Car for which he uses for both Business commuting and Personal Purposes

How to bifurcate the Fuel Expenses of the Car in to P&L account and Personal Drawings since it is used for both business and Personal use.

If the Entire Fuel Expenses included in to the P&L, then on what proportionate we shall disallow them in the final computation. Kindly advise

E-Filing site showing Restricted Refund for some people and for some Bank accounts. I observed that for 1 person Union Bank account shows as Eligible For refund and for some it is showing as Restricted Refund. I checked with bank and it is not Inoperative account. Regular credits & debits are there. No KYC problem and account is also validated & EVC enabled. Can anybody guide me regarding this issue.

a pvt ltd company can hire the employee who is non resident and the person don't have the pan card and the salary will be credited to the international bank account from the india company account .

what are the tax liabilities and can we do this ?

if a debtor deposit cash in trader's bank account ? is it a cash receipt or bank receipt ? and will it attract the provision of sec 269ST in case of higher amount recived?

Whether TDS applicable on Society Maintenance Charges paid by Pvt. Ltd. if yes please elaborate becuase Society Maintenance is not a Revenue generation & Profit generation activity for Society

If a person providing building on rent of Rs. 15,000 Per month + A machine on rent of Rs. 8,000 per month.
Will TDS liability arise on lessee??

Information code SFT-17(PUR).
Information Description Purchase of securities (SFT - 017)

There is one entry under my client Id and NSDL.
Market Purchase Rs. 1751. and Market Sales Rs 46024.

There is no details available as in SFT-17-LES(M)
Please advise how to treat this for IT return.

Upendra Prabhu
9448767651

A State Government Entity i.e. Battalion on Special Armed Forces is running a petroleum outlet. The Hindustan Petroleum Corporation Ltd. (HPCL) has collected income tax (TCS) on sales made by it to Battalion petrol pump.

The petrol pump is owned by a Government Entity is not liable to income Tax and therefore not obliged to file return of income and pay tax on income.

Please advise how can it claim refund of TCS ?

Dear Sir / Madam,

My query is as follows:
The updated return of Mr A for AY 2021-22 was filed after the original return for AY 2022-23.

In updated return for AY 2021-22, the long term capital loss reduced from Rs. 83000/- to Rs 55000/- and he paid the additional liability afterwards.
However, since the original return for AY 2022-23 was filed BEFORE this updated return, the brought forward long term capital loss was shown as Rs. 83000/- & claimed.

Now the updated return for AY 2022-23 is required to be filed with revised brought forward long term capital loss of Rs. 55000/-.

So, under brought forward losses section of AY 2022-23 return, which date of return for AY 2021-22 to be mentioned for claiming the losses? date of original return of AY 2021-22 or date of updated return?? I am bit confused.

I hope my query is clear.
Kindly revert.
Thanks & Regards,
Suraj