Sir/ Madam
Plz guide
Is there a body that empanels Valuers for Capital Gains purposes.
If Yes which is this Body and how empanelment can be Taken
If Not then who (Valuer with what certification/registration) is allowed to Value Land & Machinery for Capital Gains purposes.
Hope you can guide me on this
Thanks in Advance

Pan mismatch occurred due to a wrong entry in the TDS return in Form No.24_Q3 for the current F.Y. 2022-23. In lieu of the actual PAN “AGHPP6795Q” (age is 53 years) wrongly entered PAN as “AGHPD6795Q” for the 3rd QLY TDS salary return but NO default was made (statement status in TRACE shows Processed without default) and only red color was there on the PAN in the consolated file. On correction PAN and at the time of validation through FVU 8.0 MESSAGE comes "Count of section 194P statement records must be provided only for Form 24Q, financial year 202122 Quarter 4 Onwards”. She has only a salary and interest income. Kindly let me know how to overcome the default. Regards, Tarak Kumar Roy, 150/1/1, Banerjee Para Road, P.O. Naihati-743165, West Bengal

Due to some unavoidable reasons , a Public ltd co unable to file its IT return within due date. Actually co has refund for FY 21-22.
Whether application for condonation of delay is viable in this situation ?

Sir, We are a scrap seller and sold our products to a manufacturing company (the end-user). Sir, I have doubts that whether we are required to upload form 27C (Obtained from the Buyer) online monthly or yearly. and what is the penalty or late fees as we have not uploaded it since April?

Mrs. Shalini is a retired Government employee. She was born on 01.04.1942 in India. She is residing in
Delhi. She stayed with her elder son Mr. Nakul from 1
st May, 2021 to 15
th October, 2021, who is residing
in Australia. She stayed in India for 361 days during the 4 previous years preceding the previous year
2021-22. During the previous year 2021-22, pension of ` 7,15,461 is credited in her account with State
Bank of India, Uttam Nagar Branch, Delhi after deducting tax at source of ` 14,565. She received
interest of ` 4,352 on her saving A/c with SBI during the previous year 2021-22. She also received
interest of ` 67,500 on Fixed Deposits with Canara Bank in the month of April, 2021.
calculate her gross total income

As per income tax Act and Rules every individual buying residential/commercial property from NRI has to mandatorily deduct tax at source. In case of buying from NRI obtaining a TAN is mandatory. In the case under reference the buyer is an individual and a salaried employee. Just for one transaction the buyer will have to take a TAN and start filing TDS returns. Is there a way out or solution to this? Need expert advise please

Hello Members,

I pay rent above INR 50,000 for my property. As per the Income Tax rules, I am supposed to deduct 5% TDS on the rental payments if the same exceeds. 50,000.
I got to know that owner is a NRI and thus provisions of section 195 would apply. However owner has never communicated the same to us in any ways like :
The rental agreement shows his permanent address of India Location only.
The bank account wherein the deposit is being done is Savings account wherein I deposit the rent on monthly basis.
Few Queries on the above :
1. Can I assume the owner to be a resident as there is no upfront communication from his end specifically about this status as NRI? Going with the above assumption, can I deduct TDS @5% as per the applicable rates?
2. Any repercussion for me if I failed to deduct tax as per the provisions of section 195.

Regards

The date of birth of one of my clients is 19.03.1948, He has received and to be received up to 31.03.2023 dividend worth Rs.780360/- U/s 194K and tax deducted (with to be deducted) is Rs.78036/- as on 31.03.2023. He has invested Rs. 79140/- towards mutual fund as well as purchased NSC worth Rs.150000/-, per U/s 80C. He has got PF pension income worth Rs. 26380/- as on 31.03.2023 also. Will he have to submit a return of income for the A.Y. 2023-24 per U/s139 as usual? Is U/s 194P applicable to him? Kindly send your valuable opinion. Regards, Tarak Kumar Roy, 150/1/1, Banerjee Para Road, P.O. Naihati-743165, 24-Parganas (N), West Bengal.

Dear experts, i have one query regarding issuance of notice under section 148. IT can only issue notice to 3 years if amount is less than 50 lacs. Now this 50 lacs is for one F.Y. or it can be for combination of multiple F.Y. as well like 10 lacs in one f.y. 20 in another f.y. and remaining 20 in another f.y. thanks in advance.

Hello,

We have deducted TDS @10% as per DTAA - as mentioned in 15CA form.
Its for technical service.
There is demand raised by TRACES that it should be 10% plus Cess = 10.40%

If TDS is deducted for payment made to Non resident company and if the rate is as per DTAA - then Cess @4% is applicable ? please guide. If no, then is there any specific option to be chosen for that while filing the return??