State Chemical Industry Association (AOP under Income Tax Act) held Inter Company Cricket competition for Employees of Chemical & Pharma Companies in the state. It charges Rs.75000/- per company towards fees for tournament. Is TDS deductible.

Hello Sir/Mam,
I filed ITR AY 2022-2023, but in my 26 AS no tax of payment is shown still I get defective notice. What to do.

Return has been filed u/s 139(8A), but it is not accompanied by the valid proof of payment of tax as required u/s 140B.Return has been filed u/s 139(8A), but it is not accompanied by the valid proof of payment of tax as required u/s 140B.Please find the FAQs for filing Corrected return https://www.incometax.gov.in/iec/foportal/help/response-to-defective-notice%20-against-updated-return/faqs

I was getting rental income on my commercial property an office in a cooperative society building. My last licensee vacated the premises on March 31, 2023 as he needed to shift to a bigger place. Since April 1, I am not having any tenant and therefore i sold the property in February. As property was vacant from April 1, to date of sale, do I have to file income from house property on deemed basis for the entire Financial year or only till the date the property was sold. No actual rent earned to file on basis of rent received for part of year.

My Proprietary Firm has been received interest income. which income include in business income which option chose feedback in AIS---
Feedback Types is follwings:-
01.Informarion is correct
02.Income is not taxable
03.Information is not fully correct
04.Information relates to other PAN/ Year
05.Information is duplicate / Included in other Information.
06.Information is denied.

please reply urgent.

Sir im a salried person and by mistakenly or my unfortunately i did't e varify may itr last year till it go 31 dec 2023
Now i ask ur goodself how to refund my last year itr

Assessee is an individual who has business income, house property income and also has lent hand loans and declared interest income on accrual basis and filed IT returns. Due to covid, a number of borrowers were unable to repay interest or principal.

Profit and loss account was not given. Few incidental expenses were claimed and net income was offered for tax in the past years.

Since assessee has paid tax on income not earned, he wants to set off such losses against other income like business / rental income. Is there a provision in Income Tax to claim the bad debts in interest receipts, so that assessee can claim the unrealised interest income?

If any individual constructed their personal property and buy the Marbles and Stone direct to seller without any contract and his value is exceed Rs 50 Lakhs, Is they are liable to deduct the TDS on Seller. Kindly Clarify with section(if Yes).

There are some points to be followed by Individual.

* Construction contract with different Vendor.
* Individual Directly Buy the Marbles and Stones from seller for their Constructed Property.
* Amount Exceed over 50 Lakhs
* Individual are not in the criteria of audit U/s 44AB or AD
* They have Giving their GSTIN to Seller but Property not used in any Business which are constructed and he is not taking any input and not treating as a B2B. But Seller Issuing B2B Invoice to buyer.

My doubt is
A company (Buyer) purchased goods 45,00,000 + GST 5,40,000 = 50,40,000 goods from B company (seller). Turnover of Buyer in preceding PY more than 10 crores.
is TDS u/s 194Q applicable to above transaction?
Answer 1: Not applicable as goods value is not exceeding 50 Lakhs
Answer 2 : TDS applicable as Invoice Value exceeds 50 Lakhs
which answer is correct? Plz guide

You don’t incur LTCG tax on capital gains from ELSS up to Rs 1 lakh , is the 1 lakh limit only after adjustment of brought forward loss.

for example, BF loss is 4 lakh and capital gains for current year is 2 lakh. can i first adjust CY gain of 2 lakh with the exemption limit of 1 lakh and the balance remaining 1 lakh against loss BF of 4 lakh leaving 3 lakh to be carried forward; or will the CY gain of 2 lakh be first adjusted against BF losses of 4 lakh leaving no adjusted CY gains and exemption limit of 1 lakh unutilised. ( meaning it may be better to book gains 1 lakh greater than BF loss, to better fully utilise exemptions )

A person is currently working in a company , however now he wishes to retire and work as a consultant in the same company as he has done LLB , however no practising certificate is available for same.
CAN HE NOW BE ELEIGIBLE TO FILE RETURN UNDER SECTION 44ADA PROVIDING PROFESSIONAL SERVICES (LEGAL)???