In financial year 2022-2023 performance based incentive given to employee. After the financial year performance audit conducted by the employer,. Based on performance audit report, amount given to the employee was recovered to the tune of Rs.50800. The assessee paid the tax on full incentive in financial year 2022-23 retur. Current Financial year 2023-24 ,he got incentive Rs.280300 and on that TDS was deducted. I want to know while filing the return of income for FY 2023-24, already recovered amount is deductible in current year incentive or any other remedy is available to the assessee

Hai myself Rajesh
I am working in 2 colleges as a lecturer under contract basis. The college authority deducted tds under section 194c and 194JB. My total receipts Rs.434380/-( all are bank receipts) for fy 2023-2024 ( Total TDS deducted Rs.10650/-).Will i file in ITR 4? Can i show in presumptive taxataion scheme 44AD by showing 6% profits. What is the business or professional code for my income. (code no.) can i get TDS refunded?

It is humbe request to guide me in detail. I am waiting for your valuable reply.

DEAR SIR,

LAST TIME ALSO I HAVE ASKED ABOUT THE PARTICULAR MUTUAL FUND INVESTMENT REPORT AND TRASACTION DETAILS. MY CLIENT HAS SENT ALL THE DETAILS ABOUT THE MUTUAL FUND TRANSACTIONS BUT ALL REDEMPTION OVER IN THE YEAR OF 2022 BUT IN THE AIS REPORT LONG TERM CAPITAL GAIN REDEMPTION DATE ON 05.6.2023.

STIL I CAN'T MATCH THE TRANSACTION DETAILS TO AIS REPORT MY CLIENT SAYING I HAVE SENT ALL THE DOCUMENT REGARDING MUTUAL FUND.

IF REPORTING TO FILE RETURNS AS PER AIS DATA WITH IGNORING PARTICULAR DATE OF ACQUISITION IS THERE ANY PROBLEM

GUIDE ME

THANK YOU AND REGARDS

DEAR SIR,

WE HAVE ORGANISE A FOREIGN TOUR PACKAGE NOW WE HAVE TO PAY TRAVEL AGENT (RESIDENT) PAYMENT IS OVER RS. 700000/- NOW WE HAVE TO KNOW TDS IS DEDUCT ON THIS PAYMENT OR NOT. PLEASE LET US KNOW HOW MUCH TDS RATE ON THIS PAYMENT.

THANKS & REGARDS,

Dear Sir/Ma'am,
My query is that my client made a commercial complex 20 years back and there was only one shop that was in stock and he sold this shop in 2023-24, now the difference in price is huge so is he bound to pay tax @33% on the difference amount or some indexation benefit is allowed in this case. The assessee is a firm

Thanks and Regards

Solar project we executed with PMC last year. PMC submitted six invoices, of which two pertained to services accompanied by machinery/equipment/modules. We capitalized these services as an integral part of the asset, as they were essential for the project's completion.
During payment, we deducted TDS under Section 194Q, considering the invoices as assets. However, PMC is now disputing our approach, claiming that we should have deducted TDS under Section 194C for the service invoices, as they consider them as services. We maintain that these services are an integral part of the asset and, therefore, not subject to TDS under Section 194C.
Could any one kindly provide clarification on the correct approach in this situation and confirm whether our stance is correct?
Thank you for your time and expertise.

Sir one of my client sold vda for Rs 14715(crypto capita gain) basically she's salaried person
where need to show crypto gain in ITR?

Hi Team,
I would like to know how dividend income is considered for taxation.
If I receive dividend in bank Account between 1st April -31st March in a year is it considered for taxation or when the dividend is declared by companies for that Year FY 23-24 but received in bank account in FY 24-25

As I have received dividend income in FY 24-25 but it is there in TIS for FY 23-24.Can you please help?

Also if you tax filling is incorrect for e.g if you were supposed to 100 but due to incorrect calculation pay 98 .Then how is penalty or fine been charged for the difference?

Thanks,
Dipti Mallya

I have entered all the details in the tax portal on the basis of old regime. Details are checked and is almost final though not submitted for filing. I realized that the tax to be paid in new regime is less. Can I switch to new regime
in the option that is provided when you resume filing and proceed further to the schedules, without the entered data being cleared (except may be the deductions under Chapter VI)?

DEAR SIR,

RECEIPTS FROM VIRTUAL DIGITAL ASSETS U/S 194S IS BUSINESS INCOME OR OTHER SOURCE OF INCOME BECAUSE MY CLIENT IS DOING CONTRACTOR ONLY RS 9478/- SHOWING IN 26AS AS WELL AS IN AIS REPORT WHEATHER IT SHOULD BE CONSIDER BUSINESS RECEIPT OR NOT NOW MY CLIENT IS STOP TO DOING THIS.

REGARDS

THANK YOU