I provide booking keeping and accounting service at the rate of Rs.15,000 per month . The company is deducting TDS @10% . I countered them that my Service does not exceed Rs.30,000 per month so not to deduct TDS . But the company said in a year its exceeding 30k.
This 30k threshold limit is for per bill or for per annum billing .
i have a residential property in india and now if i become nri, later i decide to sell property what will happen? i am allowed to take money outside india? any extra tax or something? should i sell before becoming nri?
Dear Sir,
One of concern is engaged in promoting/developing business, have completed all of this flats in a complex in the year 2012, completion certificate was also issued from authority of all flats, but till F.Y. they have some unsold flats showing his books of accounts & reflated in closing stocks.
Is the Income Tax department charge deemed rent on there unsold flats ?
Please clarify with section?
Sir,
1.1st professional income Gross receipts rs:60 lacs
2nd professional income Gross receipts rs:2 crores.
Question:
1.assessee two incomes it returns filed individual status present.
2.assessee 2nd profession formation of partner ship firm or individual status benefit for it purpose.
in proprietorship firm
why Salary of proprietorship firm is not allowed.
is Depreciation allowed as per income tax only.
My query is the following:-
whether the long term capital gain against property can be adjusted against the short term capital loss and long term capital loss on selling of equity shares under DEMAT account. All transactions by online banking. Will appreciate your advice and inputs on this query.
Sir,
Question:1
It assessee cash deposits limit for one financial year
1.cash deposit in bank sb account
2.cash deposit in bank current account
3.cash fixed deposit in bank and postal .
Question:2
It assessee 26as information mentioned below show procedure in books.
1.sec 194j b rs:50,000/-
2.sec 194 I(b) rs:1,50,000/-
3.sec 194 k mutual fund rs:202.16
4.sec 206cq ICICI Bank rs:4890/-
Sir,
It assessee loan purpose amount received from non resident person (friend )rs:15 lacs through on bank mode after 2 years amount repayment to non resident person.
Question:
Assessess above mentioned loan amount transaction accepted or not accepted.
For assessees having income other than Business or Profession for exercise of tax under new regime whether online submission of form 10IE is necessary ?
ANS No
Read more at: https://www.caclubindia.com/experts/form-10ie-rule-21ag-2862324.asp
Please refer to above query
I filled ITR under new tax regime by choosing section 115BAC while filing ITR. I did not filled form 10IE (as answered in above query). However, I received intimation under section 143(1) my claim under section 115 BAC was rejected and income tax was calculated under old tax regime. I am salaried employee with no Business/Professional income. Could you let me know why my return under New tax regime was rejected and what steps should I follow now to rectify it?
I would like guidance in the following issue.
An asset is sold for 12,50,000/- where as its WDV in the Books of Accounts showed a balance of Rs.13,47,000/- thus the balance of the WDV was debited to P&L as "Loss on sale of fixed asset".
What are the necessary disclosures/disallowances in Income computation and Tax audit report.
Thanks in advance.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
TDS on Accounting & booking Keeping service