Suppose, during F.Y. 2023-24
Mr. A(Turnover>Rs. 10 Crore in F.Y. 2022-23) purchased goods from Mr. B(assuming GST exempt goods) on following dates:-

02.06.2023 Rs. 12 Lacs
21.10.2023 Rs. 20 Lacs
06.11.2023 Rs. ( 9 Lacs) (Purchase Returns)
28.11.2023 Rs. 25 Lacs

Would Section 194Q apply in the above case?

In my opinion, it will not apply as Rs. 50 lacs amount not crossed for the aggregate value of goods. Please guide

Can a partnership firm declaring profit as per section 44ADA claim deduction of remuneration paid to partners as per section 40(A) from the presumptive profit as per section 44ADA. Because as per section 44ADA clause 2 say all deductions available from sec 30 to 38 are deemed to have been allowed and section 40(A) is outside it?
Kindly provide the reference section/circular/notification or case law for the basis of the reply please
Thank in advance.

Whether an investor invests in capital market in equities,bonds,mutual funds,sip etc where no selling during the financial year,only investment, as a salaried person which ITR should file?

Trader are eligible in section 43B(h).

sir

i have two questions

For a Director of a Pvt Ltd Co.The company takes a car loan for the Director.It is used for both official purposes.The EMI is paid by the company.Is the interest paid by the company considered a perquisite for the Director?If so what are the income tax implications

Do u have any site or reading material where it is possible to understand which are treated as taxable perquistes as per the IT act.
thanks and Regards

How much is the taxable income for the fy 23-24 in the following case

Individual
Less than 60 yrs
Salaried class-old regime

Income from salary-400000 (from employer 1)
Income from salary -300000 (from employer 2)
80 c-150000
Standard deduction-50000
Gratuity received during the year from employer 1-50000

Dear Team,

What is the TDS rate on purchase of immovable property by an Indian resident from NRI ?

Note: NRI has not linked his Pan with Aadhar.

Hello, I have 2 daughters, my HUF and spouse accounts for PPF, Sukanya samriddhi. so how can I do best tax planning to take full exemption under 80C.
1) father - 1 PPF
2) mother - 1 PPF
3) daughter1 - 1 PPF and 1 SSA
4) daugher2 - 1 PPF and 1 SSA
5) HUF account

in order to take full 80C exemption under 3 accounts- father, mother and HUF for full 1.5Lakhs. whats the best way to plan this.

I have joined cii from april 2023 by paying charges at 10500+ gst 18% and i have not deducted the tds. Now i have received invoice from CII asking me to pay for membership subscription from 1st jan 2024 to 31st dec 2024 for Rs. 10500+gst 18%.

we have also paid charges for the training session conducted by CII for 3 person

please advice should we deduct tds. and if required under what head

Sir/mam,

We have deducted TDS U/s.194J @10% of One person, we have filed Q3 Tds return and we received due to short deduction of Pan error , because the person not linked pan and aadhar

Now the same we have informed to party now he linked, my doubt is we have to pay short deduction of amount or previous amount adjust please kindly guide

Thanking you,