Sir
My friend had purchased a property with cash rs 1,90,000 in f.y. 2019-20, DLC value of the property rs 2,30,000.
In income tax act, what is tax implications of such transaction?
Please guide

A private limited company making a payment to AWS for various services like storage, data transfer etc. If AWS does not have Permanent Establishment in india then whether the company need to deduct TDS on such payment ? And if AWS has permanent establishment in india then TDS to be deducted in which section.
Please suggest.

The Assessee is holding Proprietorship company, till F.Y.2020-21 income tax audit is not applicable, In F.Y.2021-22 Annual Turnover will be above Rs. 1 Cr.

we are paying rent Rs.38000/-p.m to landlord. I would like to know whether TDS on rent should we deduct 10% TDS from the first month of financial year or after crossing the limit of exemption of Rs240000/-.

whether a Trust Can get Corpus Doantion from the Donor with the condition that the corpus donation amount is kept in a seperate account and the same may be used to lend loan to the Self help groups with nominal interest?

Now amended provsion say corpurs donation needs to be invested as specified in 11(5)?

Mr.X's mother passed away in June 2020.  His mother had her share in her father's property which is received by Mr.X by cheque after her death.  What would be the tax treatment, when and how it will become taxable in the hands of Mr.X?

Death of Assesse.
Is it mandatory to immediately shut all their accounts ?
Can we file ITR from their IT Portal in the following year ?
Is there a timeline to apply as a LR of the deceased or we can let TDS be received in the account ?

How to deduct TDS , AS per old method , or new option Method to deduct TDS for salaried Person. which method is beneficial to deduct TDS for employer.

Dear Sir,

My individual income tax return is filed under Section 44AD under Presumptive Taxation from past 5 years. I am into Contract business and my tds gets deducted under Section 194C.

The total turnover of my business is coming to Rs. 9 lacs as per Form 26AS and after booking of business expenses the profit is coming to Rs. 6 lacs.

My query is since my return is filed under Section 44AD can I show profit at 8% of the turnover which comes to Rs. 72,000 instead of showing higher profit.

Please help me in this matter.

Regards,
Divyesh Jain

AY : 2020-21
An assessee had filed ITR with retirement benefits. The gratuity was wrongly shown as 32L in the ITR whereas the correct amount of gratuity was less than 20L and balance amount was commuted pension amount.

CPC- ITD had sent a communication regarding the proposed adjustment of taxing the extra amount of 12L but the assessee did not respond in due time. CPC-ITD has made the assessment with addition of 12L in total income and calculating the tax payable thereon.

How should assessee proceed in this case?
File a rectification return ? If yes then, how to file rectification return, as the rectification return filing facility is still not activated on tax portal.

If no, then please suggest how to move forward.

Hi All,
Could any one suggest under which section public relation service Company TDS shall be deducted if payment is made to such PR company.
Thanks jn advance