Respected Sir/ Ma'am
We recently received a notice under our client's TAN, stating a demand has been raised due to the associated PAN being marked as inoperative. In the Demand Notice received, all the employees mentioned in the list have the Total Taxable Income below Rs. 5,00,000/- in the previous Financial Year i.e., 2023-24.

So, here at this point we seek your guidance that what if we remove the entries of those employees from previous year. Will the demand be removed or it would still be standing payable?

I would greatly appreciate if you could provide insights or share the experience in dealing with a similar issue. Your guidance on the procedural and legal aspects would be extremely helpful.

Thank you in advance!

Best regards,
Avneet Kaur

what is major differences in 194Q and 206 C regarding 206C for TDS deduction and TCS Charges.

Hii,
Can we show income from Benefits or perquisites received in respect of business or profession (Section 194R) in 44ad as gross receipt as business have made an expenses to earn the income.

Is GST will be applicable on such receipt.

Hi Experts,
Can you please help me with my below queries regarding Gift deed

1.If Mother gives Son or daughter in law a substantial amount as GIFT spread across 2-3 years do you need to make a Gift deed ?
2. If yes do we have to make it every Financial year ?
3. Is it possible to make one in this financial year and to mention the total amount to be gifted over next few years
4. If gift deed is in place does the clubbing of income apply ?


Appreciate your inputs .


Thanks,

We have paid domain google workspace renewal and support charges for one year

Can tds applicable. If yes, which rate

Is there any update on rebate u/s 87a on STCG / LTCG for New tax regime. I heard it's available now.

If yes, shall we file revised or rectification return to claim back the demand paid?

Kidnly clarify the queries:

Is TDS required to be deducted in cases where 44AD / 44ADA is availed, where maintenance of books is not required?

Also is TDS required to be deducted on construction costs incurred by assessee? If yes, how will the disallowance apply, since this is not a revenue expenditure to make disallownce from profit?

CIT(A) HAS POWER TO VERIFY ADDITIONAL EVIDENCE PROVIDED UNDER SECTION 46A OR REMAND BACK CASE TO ASSESSING OFFFICER?

We have sold the mhada flat after redevelop. Got possession in Feb,2023 & sell the same in June 2024 for Rs.1 cr. Purchase cost 0 (trf. Property after husband death to wife in 2008 & go under redevelop in 2009) Ghatkopar East Mumbai.

How much will be capital gain tax?

hello,

I'm a salaried person and TDS 1 % under 194S(only purchased crypto no sale made). I'm filing ITR 3 and while confirming "Nature of Business" schedule, I'm getting the following warning.

At least one Business Code is mandatory either in Schedule Nature of Business or at Point 61 (44AD Table) or Point 62 (44ADA Table) or Point 63 (44AE Table) in Schedule Profit & Loss A/c.