Hi Assessee constructs residential property in hos own land and sells it. Can he file income u/s 44AD for the building sales

sir,

What to do if return filing is delayed for any reason and 31st December passes.

Can a HUF earn commission income and show it in its return of Income.????

Hi,
I booked a flat in 2018-2019 total amount of 90 Lakh.
I have paid upfront about 60 Lakh. Somehow project got delayed and to date, the property has not handed over.
Now in the same project builder is offering a Villa at 1.5 CR and I want to upgrade. In this case, they will be signing a new agreement in February 2024 and will transfer the 60 Lakh paid earlier in to villa account.
And as per CLP (Consturction link Payment) I have to pay 20 Lakh.

Should I deduct TDS on 20 Lakh or 80 Lakh (20 Lakh payment now + 60 Lakh Paid in 2019)?

PS: In 2019 there was no requirement to deduct TDS so I haven't deducted that time.
Old Flat booking was neither registered nor possession was given.

PURCHASE LAND 2020-21 PURCHASE VALUE 35 LAC...


LAND RECONSTRUCATION COMPLETE DEC 2023 TOTAL CONSTRUCATION EXPENSES 15 LACS

THEN WAT IS DEPRCIATION RATE IN FIN YEAR 2023-2024
AND HOW TO CALCULATE DEPRICIATION ON THIS ASSET ON THE BASIS OF TOTAL VALUE 35+15 OR ONLY 15 LAC
PLZ REFER INCOME TAX SECTION ALSO
THANKS IN ADVANCE

The assessee could not file his income tax return due to various reasons. Case selected for scrutiny under faceless assessment and he did not respond. Exparte assessment orders passed. The assessee now wants to file appeal before CIT A. can the experts provide model appeal grounds in such a case.

Section 43B(h) provides for disallowance of the sum payable to SME if not paid within the prescribed time. My queries are as follows:

1. Will the supplier be an SME as defined under the MSME Act but not having Udyog Aadhaar will be covered by section 43B(h)?

2. If an SME supplier asks the buyer to inform if it is registered under the MSME Act and the supplier although registered replies that he is not registered as MSME. Will payments to such suppliers would be out of the purview of the provision?

3. If any part of the due is retained by the recipient of supply in terms of the contract as retention money or security deposit would that amount be out of the purview of section 43B(h). Whether there would be any restriction in deducting the security deposit or retention money?

4. Can the payment to SME be converted into a loan with the express consent of the supplier to come out of the purview of s. 43B(h ).

Please guide. hanks

i need someone to share a Body of individual deed draft.

Sir please advise if accrued interest on Home loan can be claimed for deduction. The intrest is accrued during moratorium and actually not paid.

Respected Sir,
My client is a senior citizen as per income tax act. He has received the amount form PNB on maturity of policy named PNB Met life policy.
So I want to know that the amount received by him will be taxable or not.
He chose new tax regime