I have received the consultancy bill of 85000/- for the month of Sept 2020 . TDS of Rs 8500/- has been deducted from Rs 85000/- & payment Rs 76500/ to the party . But TDS amount has not been paid by challan .

Please inform me the process of TDS revised return or is it possible to include TDS amount of Rs 8500/- for the return of march quarter 2021.

Respected Sir,
Sir query is that:
If a transport bill contains.
FREIGHT 13560
INSURANCE 650
LOADING/UNLOADING CHARGES 300
OTHER CHARGES 200
TOTAL 14710

Now, what is TDS deductible value ? Grand total 14710 or freight value 13560?

Please give response,

Thanking you.

Hello Sir,
Myself and my husband bought a resale flat via bank loan in Nov 2020.
Since its a resale, the property is in ready to occupy state and we have paid 11% stamp duty during registration.
We both are employed and tax payers,

Please let me know what kind of tax benefits can be availed for the property.

Thanks
Srilalitha

Their is dissolution of partnership firm and one of partner continue same business in proprietorship.
But their is one immovable property in partnership firm so on transfer of capital assets capital gain issue comes in the firm. we are transferring capital assets on book value.
so how we calculate capital gain in firm ,which amount to be considered as sales consideration and cost of purchase..

Dear Expert
One of my client wad having TO less than 2 Crore and opted 44 ad for the AY 2019-20 as in continuation for the 3rd year . During the FY 2019-20, he crossed 2 Crore and increased to 2.68 Crore and he has Receipts as well as payment more than 95% in digital mode , pl suggest me, is necessary to get accounts audited u/s 44AB for the AY 2020-21 since limit has been increase to 5 Crore for digital mode

Hello sir,

My name is Tushar Chaudhari.

I have to clear my loan, so I am going to take 10 lacs from my brother. I am going to repay the whole amount to my brother in future. As per Gift Tax Act, the amount I will receive from my brother is not taxable to me but I want to clarify that should I show it in my ITR as 'Exempted Income' or should I do a loan deed?

Your response will be very helpful for me.

Thank you.
Tushar

I have 2 pan card and TDS Deduct in old pan card and addhar link with new pan card , tell me how can I claim TDS of last 3 year , I have not file any return till now..

I am creating an AOP. It will remain unregistered. I have to apply for its PAN. The nature of the business will be sale of commericial property. Can you send me the format for deed to be prepared for formation of AOP
I will be very thankful to you for the same.

My Mail id is shivangisharda10@gmail.com

We have paid challan of TDS for particular month and while filling details for quarterly returns of TDS, we have found out that we have paid excess amount in challan. My query is how to adjust the amount. I want to know the procedure we have to follow as per law. Kindly solve this query.

I inherited residential property in 2016 from my father that he built in 1980. Cost of acquisition of Land as of April 01,2001 is Rs.6.70Lakhs. Cost of construction of building as of April 01,2001 is Rs.13Lakhs as per property valuation report. Now in 2021 I want to demolish the current building and reconstruct 4 floors using my own funds. Out of these I'll sell 3 floors in 2022 and retain 1floor. Stamp duty value of sales consideration for each floor would be Rs.63Lakhs therefore total sales consideration would be Rs.1.86crores. Cost of construction for new 4 floors would be Rs.1.20crores. Current stamp duty value of Land is Rs.90Lakhs.
What would be my capital gain tax liability when I sell 3 floors? Is it going to be long term or short term capital gains?
Am I allowed to claim exemption on both land and current building indexed value, also cost of improvement by constructing a new building?
How can I bifurcate land and building cost in sale deed and how can claim LTCG on undivided land share and STCG on building construction share?