Income from Franchise healthcare lab. Is TDS applicable for refund or I have to show as nontaxable income.
I need clarity on Tax applicable on EPF withdrawal.
I was working with company A from 04-Dec-2014 to 12-Aug-2016 and during this tenor EPF was deposited with Company's EPF Trust.
Due to personal issues I was not working for 4 months i.e.. from 13-Aug-2016 to 04-Jan-2017. Later I joined Company B on 5-Jan-2017 and with Company B the EPF was deposited under UAN a/c. So from Jan-2017 onwards I am in continuous service.
Finally Company-A pushed me to withdrawn EPF amount and after completing the formalities received credits of Rs.Rs.203000/- on 12th May-2021 i.e. 4.9yrs after service exit with Company-A. At the time of withdrawal Form15 was submitted hence there no deduction done by Company-A however same is present in my Form 26AS under head - PART A1 - Details of Tax Deducted at Source for 15G / 15H.
Please confirm if this EPF withdrawn amount is Tax free or do I need to pay taxes.
Thanks in advance.
As per RBI direction bad debts provision made against investment in PMC Bank. Provision made for last 3 years@ 20% ,from 2020 ,2021 ,& 2022 and for next two years also RBI given direction for provision , Now PMC amalgamate with unity small finance bank and investor of PMC will take NCPS& equity bond of Unity. As PMC amalgamate with UNity SFB what will be the taxation effect for last 3 years bad debts provision , it will added back in computation or not?
Sales as per books of accounts maintained is Rs.95 Lacs, however revenue as per ICDS working is Rs.15 Crore.
I am confused which turnover should I consider for applicability of Tax Audit. If I choose sales as per books then tax audit is not applicable and if I choose ICDS working then Tax audit is applicable.
I have not come across any reference which says for tax audit applicability turnover should be considered as per ICDS working.
Please suggest which one to consider with any reference.
Thanks
Where exactly in the judgement in the Hon’ble High Court in the case of Pr. Commissioner of Income Tax and Anr. Vs. Totagars Cooperative Sale Society (2017) 392 ITR 74 (Karn) is it stated that Interest earned by a cooperative society from investments with Cooperative Banks is eligible for deduction u/s 80(P)(2)(d)
Mr A is working in india with a singapore based company. And he is receiving salary without TDS on income. Should Mr A pay advance tax on taxability on income under the head salary in india. how to calculate tax on his income
Sir,
It assessess sales of residential apartments flat value rs:16 lacs dt:20-09-21( f.y.21-22)after new house construction strated dt:01-10-21 to 31-03-22 value rs:15 lacs.assessee sales of residential apartments flat purchase value rs:12 lacs in f.y.12-13 year.
Question:
Assessess capital gains tax applicable in f.y.21-22
Please suggest me Supreme Court decision in favour of Assesee in recognising expected losses as revenue expenditure as per AS-7
Also please mention about mining royalty collection contract. if contract not feasible than can we recognise it as per AS-7
The assessee is a Provident Fund Trust and filed it's ITR in Form ITR 7 in AY 2021-22. Till last year, ITR-7 had a clause "Return furnished under Others category". Since the assessee need not furnish return u/s. 139(4A), (4B), (4C) or (4D), it had filed under "Others" category. This allowed selection of Section 10(25)(ii) for claiming exemption in respect of income of recognised provident fund trusts in AY 2021-22.
However, the said clause is not there in the schema for ITR-7 for the AY 2022-23.
How will the assessee proceed to file it's ITR for the AY 2022-23 ?
Kindly advise.
Best regards.
I have filed my return for fy 2021-22 original with some mistake ( salaried ) and immediatly i have revised the return for the said finanacial year and it has been processed. now i have received the intimation as defective for original return but revised return is processed.
what would be the status of original return whether revised return will stand or should i have to correct the original return once again
After processing revised return i everifed original return and later i have received this intimation
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Income from Franchise Business