My client received Provident fund after the resignation of job from private sector company. he resigns the job after the 28 years of service. He received Rs 20 lack Provident fund from EPFO .

can he liable to pay tax on PF received?

If yes , then how much is PF is taxable or exempt from tax .

thanks in advance for your valuable suggestion

Sir,

As NRI , tax on Interest earned on FD in his NRO a/c with bank is deducted at @31.2% ( applicable for below Rs 50 Lacs ) under section 195 of Income Tax Act, as shown in AIS. Hence following queries:-

1. Now when NRI files ITR of this income from NRO FD Interest under head " income from other sources " then will it be taxed at slab rates ( as may be applicable ) in his case ?

2. Will it be taxed at same rate at which TDS is deducted u/s " 195 (k) any other income." ??

3. Is that above explained income of NRI is subjected to any special rate of tax when TDS is already deducted u/s 195 of Income Tax Act . ???

Pls guide early.

A minor filing his/her income tax return separately, for earning from own skills. While registering his/her PAN through Parent's login, any document related to "Proof of Income" of the minor is to be uploaded mandatorily. Now, in case the minor earns from tuition fees which is in cash what document to be uploaded?

I have received amount on maturity of pli on retirement. Is it taxable or exempt ? as they have deducted tds u/s 194 d .
If it taxable then it is taxable under which head and any deduction available.

In case of an assessee who has income from business/profession if opts for new tax regime whether he/she will be allowed following deductions:
Whether business losses and Unabsorbed Depreciation can be carried forward?
Whether deductions under 54 etc. will be allowed in case income from capital gains?

Taxpayers Information Summary(TIS) for (Rs 189000) shows a entry of foreign currency purchase on portal. My client purchase currency for his brother foreign travel.
what to do with such a entry? Need to show in ITR If Yes where?????
regards
Vikas

Is the Composite transfer grant to Central government employees on retirement tax exempted

WHETHER FNO TRANSACTION AND INTRADAY CAN BE SHOWN UNDER CAPITAL GAIN HEAD ?

If a minor files his separate ITR showing income earned from his own skills, then whether his parents can claim 80C deduction for the tuition fees paid by the parent for the minor in his (parents) ITR.

IS FUNDS TRANSFER BY WAY OF CASH POSSIBLE BETWEEN TWO PRIVATE LIMITED COMPANIES WHERE IN BOTH THE COMPANIES THE DIRECTOR IS THE SAME PERSON WITH MAJORITY SHAREHOLDER.

TRANSFER OF FUNDS BY WAY OF CASH IS REQUIRED TO MEET URGENT BUSINESS PAYMENTS IN ONE OF THE COMPANY AND BOTH THE COMPANIES ARE ENGAGED IN THE SAME TYPE OF BUSINESS.

QUERY IS :

1. IF YES , HOW TO RECORD THE TRANSACTION IN THE BOOKS OF ACCOUNT ?

AND

2. WHAT DOES THE INCOME TAX ACT SAY ?

PLZ ADVISE.