M/s ABC Pvt Ltd selling M/s XYZ Insurance Ltd health insurance policy to retail customers in Market. M/s XYZ Insurance Ltd give commission to M/s ABC Pvt Ltd. M/s ABC Pvt Ltd collect the premium from individual customers.
1. M/s ABC give a advance amount to M/s XYZ, against this Insurance company issued policy to M/s ABC customer and deduct the premium amount from advance deposit.
2. M/s XYZ Insurance Ltd not issued any invoice to M/s ABC Pvt Ltd. Insurance company issued policy documents, receipt and invoice in the name of customer.

Query: Is TDS applicable on advance payment made to M/s XYZ by M/s ABC Pvt Ltd. ?
Query2: Any GST liability arise on this transaction?

thank you

CBDT has exetended due dates for filing income tax returns from 31st Oct, 2021 to 15th Feb, 2022 for audit cases for A Y 2021-22. In such casea, if assessee fails to make the payment of Self Assessment Tax on or before 31-10-2021, whether interest will be charged u/s 234A of I T Act, 1961. If the company makes the payment of S A tax in full in the month of Nov, 2021, whether interest wil charged till Filing of Return. Kindly advise

I inherited shares from my mother after her demise. These shares were bought sometime in 2007.
It was transferred to me on 15-Sep-20. I sold the shares on 23 Jul-21.
How will the CoA be calculated - will the rate of shares be taken as on 15Sep20 or will the rate be as
of the date originally bought in 2007?

Case: M/s A create business account on Amazon. Amazon charged commission on every order & Amazon collect the payment on M/s A and remit all the amount after deducting commission. Amazon deduct TDS under sec 194O on amount remitted. Now the query is, can we deduct TDS on commission which is paid to Amazon on every order under section 194H??
Can section 194H & 194O apply simultaneously???

Dear Sirs/Madam,

if there is difference between AIS and actual transaction like share transactions or other what should do?
Please guide and is it compulsory to submit feedback of AIS

Any payments made by resident to non resident has to be reported in income tax via form 15CA/CB but my question is that weather any form required to fill under income tax for any payment received by a resident from no resident. Suppose I provide service to person resident in new York and he made me payment for such service. Weather any reporting/declaration requirement arises for receiving such payment under income tax act.

A Hindu Undivided Family is allotted PAN in the name of "Hari & Sons "whose members are Hari, his wife and two sons. The date of formation is mentioned as ANCESTRAL on the PAN card issued by CIT. Now the HUF needs to get the date of formation to be corrected and for this the karta sworn in an affidavit with Aadhaar of Karta as required and submitted at TIN FC

After 4-5 days it was informed that the PAN correction application is rejected as Name does not have HUF as suffix, the application of correction in PAN data may not be processed.
Please let me know if there is any requirement under Income Tax Act or Income Tax Rules to add suffix HUF in the name of Hindu Undivided Family ?

A Tourist home building belongs to Mr. A
Mr. A and his son formed a partnership and started to let out the rooms in the name of the partnership and intending to open a hotel there.
1. Whether the Firm can claim Depreciation on this building exclusively belong to Mr. A?
2. For letting out the rooms, whether this partnership firm has to take this building on Lease?
Please Advice.

i am GST Holder and i am filing FY.2020-21 ITR-3 , i am have two type receipt one have with GST and second receipt other income ,then in trading a/c sales of goods can i show GST sales and other receipt both of in sales .

Sir,

Sir I want to know whether cash payment in excess of Rs. 10000 can be allowable in case of land development charges. Say for example I was incurred Rs. 30000 by cash for JCB Work on my land. Whether this can be allowable.