Keyur

Sir/Madam

Please clarify on urgent basis-

> TDS u/s 194q applicable to purchase of Computer?
> TDS u/s 194q applicable to purchase of Computer Software?
> TDS u/s 194q applicable on Services paid to Computer Software??




MAHALINGAM RAMAN

Good Morning. Last year in the month of August I sold my house in Nagpur for Rs.5900000.00 ( Rupees Fifty nine lacs only ). I paid 1% tax of Rs 59 lacs i.e Rs. 59000.00 vide my client. Received Rs 25000.00 as advance and balance of Rs 5816000.00 ( Fifty eight lac Sixteen thousand only ) in credited to my new Saving bank Capital gain Account A. On 11th October 2021 , I purchased a 2nd hand flat at Bangalore for Rs 58,00,000.00 ( Rupees Fifty eight lacs only ) + other taxes by transferring the amount from my Capital gain account. Now I am having a balance of Rs 16000.00 in my Capital gain account. I approached my Bank to close my account . But my Bank is demanding FORM G duly signed and stamped by Income tax department which has to be done through online. Can you guide me in this regard and provide me the correct site address. When the transaction of my Capital gain is completed within 3 months do I have to go through all the formalities


Kollipara Sundaraiah
19 January 2022 at 13:30

It doubt returns filed compulsory

Sir,
A gst registered dealer services provided dth recharge service (tv channels) e-load to retailers and e-load to customers rs:85lacs in f.y.20-21.
Question:
1.Dealer f.y.20-21 it returns filed compulsory

2.dealer rs:85 lacs service or trading turnover treatment in it act.


MAKARAND DAMLE
18 January 2022 at 13:38

Offce Premises

Assessee is having 2 office premises of which one office is given on rent and other for own business
Rented office till Sept 20 was given on rent and in october sold .

My question is
Whether excess received on sale value minus wdv will be taxable as business profit ?
For calculation of depreciation under income tax whether from block of asset of office premises sale proceeds of office need to be reduced and depreciation on balance will be available ?


ARUN GUPTA

We purchased hoods from a party and party collected tcs from us for fy 2020-2021.The party has not deposited tcs amount to government.
How will we write off tcs amount in our books of accounts? Please explain?


Daya
18 January 2022 at 13:23

TDS required to Deduct on Payment Made

whether TDS is required to Deduct on Payment to Jammu Industrial Club. Rs, 45K and 24K in Two installments, whether TDS to be deducted , if Deducted then we have to deduct TDS on Rs, 69K. and under which section TDS to be deducted.


Adi Sha
18 January 2022 at 13:05

Capital gain tax on unutilized account

I recently sold a property and made a 1CR capital gains. I utilized 50L of it by buying a government bonds.

The remaining 50L I plan to put in capital gains saving account.

My question is how much tax will I need to pay if I could not utilize this money (within 2 years of selling old property) on purchasing new property?


nitinjain
17 January 2022 at 22:57

Revision or Rectification of ITR

Dear sir,
An amount showing wrongly in exampted income but it is taxable as per IT ACT FOR F. Y. 2019-20, we have received intimation 143(1)
For demand, by taking tax on said examted income so what we can do revise, rectify, or any other way


Piyush

Date of allotment (booking) 31.07.2013
Date of agreement 31.3.2021
Agreement value -Rs 8.9Cr

Tds applicable on Rs 3.5 cr (payments which are made after tds on property applicable)
O/s payable due to dispute till date is 50L

How to make payment of tds on Rs 3.5 crore now and in which financial year and how to calculate interest if applicable ?


Deepa

Interest on Home Loan deductions are available u/s 24 for residential house property and
Principal on home loan can deducted u/s 80C for residential house property.

1. Is Interest on Home Loan u/s 24 and Principal on home loan u/s 80C are available for purchase of land ? (vacant land, on which construction would be done after few years and which is not used for agricultural purposes).

2. Is Interest on Home Loan u/s 24 and Principal on home loan u/s 80C are available for purchase of land which is used for agricultural purposes.






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