Dear Sir,
Mr. A is a resident and liable to deduct TDS u/s 194M
Mr. A given a contract to Mr. B for house construction of Rs. 88.00 Lacs on Nov-2024.
Mr. A paid of Rs. 62.00 Lacs to Mr. B in FY 2024-25 and deduct TDS @2% u/s 194M.
Now
Mr. A paid balance payment to Mr. B of Rs. 26.00 Lacs as full & final in April 2025.
TDS deduct or not in balance payment of Rs. 26.00 Lacs as per 194M
due to Payment year change.

Respected Sir / Mam
We are trying to file appeal form 35, getting error "Error: Please click on My Profile in the note given below to update your contact details with all mandatory fields".

We updated all contact details in profile. but still getting this kind of error. We are not able to complete the form 35 without basic information. Please do the needful.

today is a last date to file form 35 appeal. please help me in this regard.

Sir.
Me and my brother start partnership business5 year back .worked 1.5 and disconnected. Gst and bank also cancelled
There is no further financial transactions.
Let's is know how to cancell pan card of parnter ship firms.
Please advise.
Binu

Is indexation available for sale of land or building on or after 23rd July, 2024? If available then one like to avail capital gain exemption scheme then on which amount need to be credited in such scheme? Whether of capital gain after deduction of indexation cost or capital gain after deduction of without indexation cost?

I have cancelled the registered agreement for immovable property and have already filed 1% TDS to Builder PAN using FORM 26QB. Now if I try to claim refund through TRACES on checking the challan consumption it shows FULLY CONSUMED. Can you please suggest how can I claim refund in this scenario.

Sir,

If Rural agricultural land is in 3 names (father+ 2 sons). While selling, father wants to accept full money in his own bank account (because he doesn't want to distribute to sons at this point of time).

Can the father do that?

(Note - Full transaction through RTGS, no cash involved. Also the land is Rural Agri, so there is no capital gains tax anyway)

The AIS of sons will show the asset sale, so do the sons need to explain something in their ITR?

Thanks

Sir, the TDS provisions will apply only when the buyer of goods turnover exceeds of RS.10,00,000 in the hands of the buyer, else the sellor has to collect TCS - am I right sir ?

Hi All,

I am buying a property for 80 lacs. I have paid a token amount of Rs. 1,00,000/- to the seller on 2nd April 2025. Housing loan will be of Rs. 50 lacs.
The balance sale consideration will paid in 3 installments i.e. Rs. 9 lacs on 10th April 2025 and Rs. 20 lacs 15th April 2025 and the Sale Agreement will also be signed on the same day - 15/04/2025. Finally the balance amount will be paid by housing loan directly by bank.

My query is what date should be mentioned against "Date of Agreement / Booking" in Form 26QB for tds on token amount?
Whether it will be 2nd April 2025 or 15th April 2025 or any some other date ?

Will the "Date of Agreement / Booking" have to remain same for all future 26QB forms i..e subsequent payments or it will change after signing the agreement?

Thanks
Niki

Between old and new tax regime, are there any differences in tax benefits for employee incase he uses company lease car. Car belongs to company and is leased to employee for 3 years. Car lease is less than 50k per month.

INDIA HAVE DTAA AGREEMENT WITH NIGERIA? FOR F.Y. 2023-24