Dear Sir,

If a father wants to Gift an amount to an unmarried daughter both in India of around Rs. 30 lacs, will that be taxable. Will there any Gift tax on it.

Please help me in this matter.

Regards,
Divyesh Jain

Hello,

I was trying to update UDIN for my clients in income tax site. I updated most UDINS, however, I received an error for two clients stating "UDIN updation for this form failed. Please provide a valid UDIN."

I checked the UDIN status and it shows "Active".

If anyone is aware on how to resolve this, please help out.

Thank you

Actually electrical scooter purchased for the purpose of business only but the bill is in the name of partner and paid through the firm's account only.
As it is a electrical vehicle there is no required to register with RTA only have invoice.
my question is can i book as an asset in firm's books of accounts or not?

please help me and thanks in advance

I am a director of private limited company and I have provided a loan to my company by taking loan from bank . My company provided interest on loan and I paid interest to bank. In this case can I claim the bank interest as expense while I filing my IT return?

Sir,
A Doctor professional income rs:20 lacs in f.y.21-22.if a doctor accounting records non maintained rule as per 6f in it act.
Question:
Penalty applicable in it act.

Dear Sir,

Please help me, if our company made provision for Bonus for FY 2021-22. Whether this bonus amount need to be add each employee salary during the fy 2021-22 itself for calculating TDS for FY 2021-22. Or it is just provision for company account. or add this bonus amt in fy 22-23 when it is paid to employee.

Good Day Sirs,

Please advise me LTCG & tax applicable for sale of house built on 160Sqyds plot at Faridabad in Sector 16. It was purchased in Nov1987 for Rs1,17,355/- and sold in Mar2022 at 75lacs. Broker was paid brokerage of Rs75,000 by cheque. Please advise:
1.How much will be LTCG?
2. How much of Tax will be required to be paid?
B Bhushan

Hi Experts,

Could you please guide me on below query:

Summary:
I joined a organisation in March22 and in my March22 salary I got joining bonus.

In end of Apr22 I will be leaving the organisation and I also need to return the joining bonus.

How this will affect the ITR for last fiscal year 21-22 and this fiscal year 22-23?

Is it like when filling ITR for 21-22 I need to consider the joining bonus as a part of my salary and accordingly I need to pay the taxes? Though it was already returned in Apr22 and in next fiscal 22-23 year I need to apply for ITR so that I can get the return back of year 21-22?

Or it can be adjusted in the same fiscal year 21-22?

Thanks

A notice u/s 263 of Income Tax Act, 1961 was issued on 25.07.2021 against which the assessee sought adjournment. Later upon change in incumbency a fresh notice was issued on 24.11.2021 to which the assessee responded on 15.12.2021. Then once again a notice was issued on 04.03.2022 was issued setting the response date as 08.03.2022 and on 08.03.2022 the order u/s 263 was passed without waiting for the final response if any as was called till 08.03.2022. Later on 20.03.2022 another notice dated 04.03.2022 was emailed setting the date of hearing as 21.03.2022 and in the same notice another date of hearing was mentioned as 08.03.2022.

Please advise about legality of the revisionary order passed u/s 263 on 08.03.2022.

Interest earned on Post Office – NSS 1987 for AY 2022-23 is say Rs 8,000/-
- Is it taxable, if yes under which section of the Income Tax Act?
- Should the amount of interest credited be included in ''Income from other sources''.
If accrues interest is taxable and also withdrawal is taxable, does it not amount to double taxation.
1. Interest earned in FY 2021-22 is say Rs. 8000/- TDS @ 10% = Rs. 800
2. Withdraw Rs. 8000/- TDS @ 10% = 800
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