I have just inherited my father’s house after his death. Now I am rebuilding it and builder will take one floor. Builder will also pay my rent for wherever I stay during reconstruction of house. In addition builder will pay about 30 lacs.
How will I account for all this in my next year IT return.

Sir, for individuals who are partners in the Partnership Firm( tax audit firm), can we go under Section 115BAC ? kindly advise.

Dear Sir, The above subject notice was issued on 08/04/2022 by the jurisdictional officer, hence, I hope I can get it set aside in the Writ Court. Members opinion please

In case of appeal under income tax, 20% of outstanding demand is payable. Hence, such outstanding demand includes interest or fees?
Or only 20% of basic tax is payable in appeal?

Hi, While filing form 15CB as per Income Tax Act 1961, Its asking In case the remittance is net of taxes, whether tax payable has been grossed up? What does that mean please explain with example

Hello, I am planning to buy a mobile phone on EMI, but I do not have a credit card. My friend has agreed to use his credit card for this purchase, and my company will reimburse the EMI amount to me each month. To claim this reimbursement, I need to submit the following documents to my company monthly:
1) The phone bill.
2) The credit card statement showing the EMI debit amount (from my friend’s card).
3) My bank statement showing the same amount transferred from my account to my friend’s account each month.

The EMI cost is around ₹9,100 per month, totaling over ₹1 lakh annually. My concern is whether my friend might be taxed on the amount I send him each month, as it could appear as income in his account.

Questions:
Will my friend be liable to pay tax on these monthly reimbursements if they exceed ₹1 lakh over the year?
If so, what is the best way to structure these transactions to ensure that this reimbursement isn’t considered taxable income for him?
I would appreciate any guidance on how to handle this to avoid tax implications for my friend, as this amount is solely intended for the EMI payment of my phone.

Thank you in advance!

Dear CA club Team,
I am doing the my company and my Company Name is Varun solution Pvt Ltd and my question is My company is dealing into export and pay some commission as well as taken pay some professional fees payment to outside india.
So Please guide me can i deduct tds under section 194H and 194J or any other section if any other section then what should the Tds Rate and any provision and pls discuss with me example basis

Our company is using the service from Open AI and Envato (Both are NR and issuing bills in foreign currency), should we need to deduct TDS?
Payment made via credit card 15CA and CB is required?
This will also be covered under Appeal No: IT No. 3234/Bang/2018.

Company arranged picnic in Imagica for employees. They raised invoice for Tickets, Snacks & beverages ( 300000+100000+25000)and also separate invoice for value vouchers (Rs.101000) which was used by employees for shopping in Imagica.

Need clarity on deduction of tax at source on value vouchers

I Form 15CA needed for remittance by domestic travel agent by to Foreign Destination Management Company of Rs. 85000 for hotel booking.