If we purchase brass scrap from one party and we provide Form - 27C to seller then we need to deduct tds under provision of 194Q above 50 Lakhs or not ? Please clarify.

I have paid my vendor Rs. 92 Lakhs from Apl to Jul-21 out of which 55 Lakhs paid against last year outstanding and the balance against the purchases made in current year.

Total purchases made from him in current year is Rs. 37 Lakhs

Is TDS u/s 194q applicable ? if applicable at which amount and also share rules or guidelines

Regards
Vipul Acharya

Dear Sir
Kindly advice me to deduct TDS or not On Bill of ABC TRAVELS PVT. LTD. Bill Description is hotal booking at H.P. with room and meal plan.
We are a pvt. ltd. company and hotel booked for its Directors

Please advise tds will be deduct or not if yes under section ?
Thanks & regards

After 5 years blocked period (16/03/2016 to 15/03/2021) received Rs. 1976100/- from the RBI. Is the amounts received exempted income for reporting purpose in ITR? If not, what type of income is? How to show the amounts in balance sheet in ITR? Is it current (deposit) assets in balance sheet of ITR? Kindly send your valuable reply. Regards, Limpa Chakraborty

Sir,
Business it Assess gift of trade stock (business stocks)to son allowed.if allowed what value at cost or fmv value.

Fixed deposits are in my name and second name is of my wife. Tax paid by me on Interest income. My wife is not liable for tax payment however such deposits are reported under SFT in 26AS of both of us. Any action required to be taken by my wife.

I am pensioner from UIICLtd. In FY19/20 I was paid pension for 13 months due to corona disturbances and I paid I tax on 13 months pension as per advise of tax consultant. In FY 20/21 payment of pension is for 11 months. When I T return filing for FY 20/21 is attempted providing 11 months' pension as received in FY 20/21 it is not accepted by e tax filing portal with message that pension is less than form 16 shown on 26AS..Form 16 for F.Y. 19/20&20/21 both are issued for 12 months on accrual base by pension paying authority viz. LIC, whereas I am paying tax on receipts base as income is taxable on accrued or paid base whichever is earlier. I don't want to pay tax twice on pension for March 20 accrued on 01/04/20 but paid on31/03/20. I may kindly be advised/guided. Thanks with regards. Ramesh

I have filled TDS return Form 26 Q but doing mistake that in column date on which tax deducted enter the date of deposition of challan.

Return process with default and raised interest for demand.

Sir, should I revised the TDS return with correct date.

Sir,
One of the individual status business person salary pay to employee (son)rs:10,000/- amount p.m.
Question:
Assess salary pay to son amount business expenses claim allowed in it act.

hi

my relative is an engineer and he has salary income of 30 lakhs Rs and professional receipts of 30 lakhs also

can he take benefit of presumptive tax of 44ad or the limit of 50 lakhs is applicable on total of salary plus professional income i.e. 60 lakhs Rs here and hence presumptive tax benefit cant be taken