The resolution plan of SREI infra NCD default, for its holders provides two components of payment. One part distributed as cash payment directly and the balance in the form of Security receipts (SR) and Estimated Optionally Convertible Deposits (OCD). These SRs and OCDs are held by Punjab National Bank and will be released after 8 years. Please therefore inform how the capital loss of debt is booked. Is it only cash paid now as value of return; and SR+OCD if any paid after 8 years to be taken as income for future earnings.

I am working in a Logistic company, where we have all types of vehicles for transportation of people and material with an agreement with private vehicle owners. Like Uber, Ola, Rapido, etc.
The company gives a credit of Rs 2000/- per month to me. We can use our company vehicles like Motorbyke, Car, Tempo etc to the extent of Rs 2000/-. In case, if we don't use fully, the left-out credit will be lapsed and next month again a transport worth of Rs 2000/- will be credited. So the amount will not be carried forward.

Whether this facility is taxable or not.

DEAR SIR,

ONE OF MY CLIENT PAID INCOME TAX PAID BY HIMSELF UNKNOWINGLY WRONGLY SELECTED MINOR HEAD ACCRETED INCOME U/S 115TD.

IS THERE ANY PROBLEM IN FUTURE CPC WILL ASK DEMAND

PLEASE CLARIFY ME

THANK YOU

Please guide if I have to file Form 71 where income is recorded as per accrual basis in FY 2021-22
and TDS deducted appears in 26AS of FY 2022-23 till when can Form 71 be filed.
Thanks in advance.

Hi Team,

TVS Holdings redeemed NCRPS on 22-MAR-2024.
Refer news: https://www.thehindu.com/business/tvs-holdings-plans-to-redeem-ncrps-on-march-25/article67899429.ece

On 16-JUN-2023 , 232 NCRPS were credited on my trading account.
On 22-MAR-2024, I received Total Amount : RS 2528.8

Breakdown of the amount:
Redemption Amount: RS 2320
Coupon Payment: RS 208.8

Could you please confirm how above amounts would be taxed?

As the NCRPS are redeemed within a year (i.e. matured and NOT SOLD) , is Redemption Amount : RS 2320 STCG and taxable as per Income Tax Slab rate?
Also is Coupon Payment taxation same as Dividend/Interest? i.e. is Coupon Payment of RS 208.8 STCG and taxable as per Income Tax Slab rate?

I have payment due of rs 25000 since fy 2021-22, supplier is a trader of chips . Supplier fulfils criteria of msme . In this case do i need to make payment before31-3-2024.


And in case supplier has closed down business how can i make payment . To that msme if it is required to be paid

Dear All,

Please confirm the Applicability of Sec 194M.

Taxable Amount 48,55,424
Add: GST Amount 8,73,976
Total Invoice Value: 57,29,400

Please advise applicability of TDS u/s 194M and tds amount
please share any case laws reference

Suman Kumar
Thanks

Hi, we are running a Trust and our annual receipt is nearly 70 thousand to 1 lacs, we have also applied for 12A & 80G provisional registration in this March 24. further my query is do we required to file online called Form 10B or 10BB as shown on Income Tax portal for which last date is 31st March 24. Further also help me to know in how many days this 12A & 80 G application will be proceeds or approved. Thanking you 

Mismatch notices are coming with the form 26AS compare with the computation filed no option is found in the case of income of minor child included in total income. How to reconcile.

A PERSON PURCHASED LAND IN 2011 FOR 25 LAKH. GIVEN THAT PROPERTY FOR FOR DEVELOPMENT WITH REGD. JDA ON 28.03.22 (STAMP DUTY VALUE 66 LAKH). IN CONSIDERATION HE WILL RECEIVED 10 FLATS. PROJECT WILL COMPLETE IN 2025. PERSON SOLD TWO FLATS IN THE YEAR 2022-23. CONSTRUCTION IS GOING ON. WAHT WILL BE TAX IMPLICATION. PLEASE GUIDE.