Please Suggest:
One Invoice Received as below:

Material Cost - 1,00,00,000.00
Installation Charges - 15,00,000.00

Total Invoice Value - 1,15,00,000.00 (Without GST)

Hence How much TDS will be applicable on above consolidated invoice and under which section?

Dear Experts,
If the assessee has income of 52 lakhs from Salary and other income and 3 lakh Short Term Capital Loss during the FY 2025, total income comes to 49 lacs though he will be paying tax on 52 lakh and carry forward loss to be setoff against capital gain in future. Is he liable to pay surcharge @ 10% on total tax payable?
This is for academic purpose.
Thanks in advance.

15CB APPLICABLE ONLY OF TDS PAYMENT TO NON RESIDENT EXCEEDS 5 LAKH?
IF WE OPT PART-A To be filled up if the remittance is chargeable to tax under the provisions of the Income-tax Act,1961 and the remittance or the aggregate of such remittances, as the case may be, does not exceed five lakh rupees during the financial year IN FORM 15CA THEN 15CB OPTION NOT APPLICABLE?

In capital gain account only capital gain to be deposited or entire amount in sale deed to be deposited ...can I re pay home loan capital amount from sale of property amount and will it be treated as re investment of capital gains ..I need some clarification ...1. is opening of capital gain account for property compulsary . 2 I purchased plot in Pune in 2010 for 1.2 lakh , how much is capital gain if sold now for 23.lakhs approximate ..3 I purchased flat in Pune in 2011 for 16.38 lakhs , if sold now for 30 lakhs now , how much will be capital gain .4 till what time it has to be re invested ..if not till that time how much tax to be paid .

Kindly let me know whether the standard deduction under the old tax regime is Rs.50000/= and under the new tax regime is Rs. 75000/= for the assessment year 2025-26. Excuse me for the trouble caused. Regards

A sister wants to transfer amount rs 15 lac to her minor brother for study
Is there any problem in income tax or not

Fact of the Case:-
E-Commerce operator (Flipkart) selling goods to a company more than 10 Cr in a year by using digital platform. Flipkart make payment to company after deduct all the expenses and commission and also TDS Deduct by Flipkart on the above transaction u/s 194O.

And Flipkart raised commission invoice to the company against sales, Then Company liable to Deduct TDS u/s-94H on commission invoice.
Now Flipkart object on TDS deduction u/s 94H which is deduct by the company against commission invoice.
So please advice the correct procedure.

Out of 4 partners 1 partner retire from firm and withdraw his capital from firm,revaluation of assets and liability required

Since due date is extended upto 31st January,2024 and assessee need to pay 100% of tax amount instead of 110%, so in form of DTVSV there is option to pay tax after 31.12.2024 in which we need to fill tax demand at 110%? Income tax department consider 31.12.2024 as 31.01.2025 ?

Dear Sir / Madam,

My query is as follows:

Mr A sold his flat on 10-03-2023 and invested the capital gain of Rs. 47 lakhs in new flat with MNP developers before the due date of filing the return for FY 2022-23. Mr A deducted TDS of Rs. 47000/- on Rs. 47 lakhs paid to MNP developers.
However after six months, on the dispute with MNP developers on the allotment of an identified flat, MNP developers cancelled the agreement and returned the money to Mr. A.
After that Mr A booked a new flat with XYZ developers and paid Rs. 1.30 crores to XYZ developers. XYZ developers issued the receipts with an identified flat number. However, TDS was not deducted at that time.

Q1: Is Mr A still eligible for investment of capital gain on sale of earlier flat as his agreement got cancelled but then he booked with new developer?

Further XYZ developers deposited Rs. 1.30 crores in their bank account NOT registered under MAHARERA. Now in August 2024, XYZ developers returned Rs. 1.30 crores in his bank account and asked Mr A to pay them afresh. Then XYZ developers deposited this Rs. 1.30 crore in the Bank account registered under MAHARERA. Now TDS of Rs. 130,000/- is paid and deposited.

Q2: Will this affect Mr A's position of claiming the exemption of LTCG ?

Q3: Also tell me any other aspect to be looked into.

Please guide.

Thanks & Regards,
Suraj