Dear Sir,

With respect to above mentioned subject line, I would like to let you know that one of my Client is holding PAN Number but now he found it lost and does not recollect, kindly advice.

Warm Regards,
Aditya Ghatge

You have filed your income-tax return in form ITR-1. As per TDS details in your Form 26AS, taxes have been deducted under sections 194IA/194IC/194M/194S/194C/194B/194BB/194BA, etc. of the Income-tax Act, 1961. These sections are reflected as (4IA/4IC/94M/94S/94C/94B/4BB/4BA) in Form 26AS. These sections imply heads of income for which form no. ITR-1 is not the appropriate form. Thus, the required schedules for reporting incomes pertaining to said TDS sections are not present in your return of income filed in form no. ITR-1.

Sir please advise
I am getting around 15 lacs as gift from my relatives. Is this taxable? If yes, how can I save my tax. I searched in Google, but it shows that gifts from immediate relatives are not taxable.

Is NOC required from previous auditor for change in TAX Auditor of a sole proprietorship concern. Total turnover 2 Cr.

26QB query -
Total Value of Consideration (Property Value) = 7643836
Payment type* = lumpsum
Amount paid/credited currently (B) * = 7643836
Total stamp duty value of the property (C) * = 5822200

above values are taken from index 2. I am getting warning because value difference is more than 20 %. What should I need to do for this?

Dear Sirs : As per thumb rule TDS to be deducted at the time of credit or payment whichever is earlier. My querry is that an assessee had deposited TDS amount after 90days from date of invoice THAN can assessing officer disallow the purchases on which TDS return is late filed ? Can you suggest the rectification to be done, if TDS has been deducted (u/s 194 Q) at the time of payment to suppliers which is 90 days from date of supply / tax invoice. Regards

Dear All,

Please note an Indian Company has made a consultancy payment - through service bill to a foreign company. While doing the payment, TDS was deducted @10%. Hope the Indian company must pay the TDS next month 7th and file the quarter return u/s 195.
Please confirm how the TDS amount can be claimed by the foreign company or the Indian Company? If no PAN is not there for foreign company how it can be filed?

What should be the accounting treatment for Subsequent Registration Expense of Car(under Fixed Assets) paid to RTO for 5 years. Will all the expense be recognised in PL in same year or should be amortised over 5 years.?

Dear Sir,

If my Client is submitting a Belated Income Tax Return can he claim Refund from Income Tax Department, kindly advice.

Warm Regards,
Aditya Ghatge

Which amount fil in clause 40 3cd as turnover for ratio
1. absolute turnover
2. As per pnl credit side (revenue from others)