Dear Expert,

I have a query regarding long term capital gain tax, I have invested in 3MF equity fund for long term. If i have profit of more than Rs 1 lakh in long term then how will tax be calculated on that because my question about that is, as per IT rules, if you have profit of more than Rs 1 lakh in a financial year If you get it, then you have to pay 10% capital tax, but I am not getting this capital gain in one financial year... because I have many more years invested.

Hi sir
I want know investment options for salaried class employees especially software engineers for FY 2022-23, FY 23-24.
Thank you sir

In case of a trust, for the A.Y 2022-23, Form 10 AB was (Renewal)filed for a Trust BY MISTAKE with out filing form 10A (Provisional). Now the question what is the fate of Assessment of the trust for the A.Y 2022-23
Please suggest

AT THE TIME OF SUBMISION OF FORM 27C ERROR IS SHOWING FOR INVALID ARN FORMAT.
KINDLY GIVE SOLUTION FOR THIS ISSUE.

If the payment is for providing any CSR services to the company itself or to beneficiaries NAMED by the company, then TDS will be attracted.

(For example, if you ask an NGO to train your staff on CSR related issues, then this would attract TDS under sec. 194J). This could also happen if the company nominates the CSR beneficiary participants. 

However, if the NGO has no discretion in identifying the participants or CSR beneficiaries and if the NGO is a mere implementation partner, TDS will normally be attracted.

Please let me know your views with relevant case laws or income tax or CSR provisions, if any

Sir

In IT concern , we pay to foreign company for server charges . need to dedcut tds ?
if yes 195sec ?
rate & section pls explain

1. Can the Hand loans be given through bank channels like NEFT, cheque etc or is it always cash loan.
2. Is the Hand loan always interest free or it can be with interest also?

As per Section 64(1)(ii) of Income Tax Act Salary from a company, to spouse of an individual , having substantial interest in the company, is to be included in the total income of such individual, if spouse does not have professional or technical qualification. This being so if the salary is paid by the wholly owned subsidiary of such private company to the spouse of an individual who holds majority shares in the holding private company (while he does not own any beneficial shareholding in wholly owned subsidiary paying salary), whether clubbing provision of section 64(1)(ii) will apply and salary to spouse from wholly owned subsidiary will be clubbed with the income of husband who owns substantial interest in holding company.
section 64(1) starts with the words" In computing the total income of any individual there shall be included all such income as arises DIRECTLY OR INDIRECTLY ................."
Please also refer case law, if any.
CA SUNIL JAIN

Is home loan protection insurance tax deductible?

You can claim tax deduction under section 80C on the premium paid for home loan protection insurance plan. The deduction is not allowed when you borrow the premium money from your lender and repay via EMIs.

is this Correct ?

Dear Expert,

We hire taxi every month, he gives monthly bill without RCM charges, we pay RCM on that bill, my question about this is now his billing has crossed Rs 1 lac, can we are liable for deduct TDS @ 1% or 2% on his bill?