Sir based on the facts and figures given below



An Employee who was working with a pvt company (coming under the purview of gratuity act) ,for the past 10 yrs resigned after working for 3 months in the fy 23-24


Gross earnings for 3 months- 300000
El encashment on resignation-150000
Gratuity-500000

Deductions

Pf -20000
Standard deduction-50000

He had chosen old tax regime at the beginning of the fy .Also no tds was deducted for the period april 23 to june 23.

Now gratuity and el cashment is to be settled.


1) Plz clarify if any tds is to be recovered.
2) Whether gratuity is to be included in the calculation of total earnings or not.

Please clarify at the earliest

SIR
MR A SOLD ONE LAND IN 2015 COST OR RS. 1,.65 LACKS. THE LAND HIS GET HIS FROM GRAND FATHER WILL. THE LAND PURCHASES AS ON 1880. HIS WORKING CAPITAL GAIN TAKE LAND COST PER CENT RS.5000/- BUT THE IT DEPARTMENT HAS TAKE INDEX COST RS.80/- PER CENT THE ASST -YEAR COMPLETED U.S 143 WITH DAMNED AS ON 15.12.2.023 . BUT HE APPLIED GUIDE VALUE FOR TAMIL NADU REG.DEPT . THE REG.DEPT NOT PROPER REPLAY FOR NOT RECORDS AVAILABLE . PL. GUIDE FOR PROBLEM SOLVE
THANKS

Sir - If services are taken by Indian company from Google for Map Services & service providing company is from Singapore , also company has submitted TRC , Form 10F declaration , No PE , what will be the tds rate.

MR A a non resident has a loss from house property around Rs 3.2 Lakh and has STCG of Rs. 3.90 Lakh and income from other source of Rs. 1.20 lakh. Can I set off loss from house property of Rs. 2 Lakh from capital gain only has there would be no tax liability for income from other source has it is below Rs. 2.5 lakh.

one of our parent company in japan and raise invoice of material shorting charges. what tds section and rate applicable please explain.

Dear sir, Against the subeject notice we have replied accordinlgy. So, for the said assessemnt year what is last date for passing the order u/s 143(3).

Dear sir
Kindly guide on this issue
1) One client has land and building purchased in 1974 and 1.4.2001 value as given by SRO adopted. Falls under Sec 54F

2) The landover enters into Joint venture agreement in 2022 whereby total 5 units to be constructed, out of which 3 will go to owner and 2 will go to developer

3) 3 units for land owner got constructed by Developer for a cost of Rs7,80,00,000


4) Developer sold 2 units as UDS of vacant land during oct 2023

5) Consideration for landowner being

a) Monetary consideration Rs ,40,00,000
b) Sale of 2 UDS given to Dev Rs 1,00,00,000

Total Rs 1,40,00,000
6) Investment made

3 units involving construction cost Rs 7,80,00,000

7) Apparently the full value consideration invested in new building hence it would be exempt

8) In Sec 54 , if the entire sale consideration is invested in purchase/construction of one residential house within a period of 1 year before or 2 years after purchase and for construction 3 years.

9) My question is, since the client got 3 units as a consideration will he be hit by one residential house that one can buy/construct under sec54F

Dc Company hiring us to transportation of mining minerals for place A to place B. We don’t have any vehicle so we hired 20-25 transporter (which own less than 10 vehicles during the previous year) with vehicle to do this job and directly paid to transporter and booked as a transportation expenses in our books of account.
As per section-194c(6) if transporter own 10 or less goods carriages at any time during the previous year and furnishes declaration to that effect along with pan to the person paying or crediting such at time of payment or crediting the party, whichever is earlier.

Further dc co. Deducting TDS of (abc) of us.

Query-
1. Weather we will liable to deduct TDS third party transporter?
2. If we not deduct TDS on transportation expenses, it shall be allowable as an expenses at the time of audit u/s 44ab?
3. If we not deduct TDS on transportation expenses in above case what should the remedy at time of income tax notice or scrutiny?

Capital asset being tenancy right in home is.sold to another tenant.

My.view -- acquisition cost will be nil due to tenancy rights bought before 2001 for no cost (if no cost is incurred before 2001) ,so fmv cant be taken..

But my q is.. can we take cost of improvement over the years from 2001 till today? Like repairs etc?

My view yes..n just index that cost of improvement

My q is..can we take cost of improvement

Sir,
It assessess itr filed last 5years income and expenses details mentioned below
Income for 5years:35 lacs
Expenses for 5years rs:12,50,000/-
Net worth amount balance rs:22,50,000/-
Question:
Assessess investment amount in bank fd rs:30 ,50,000/- allowed in it act.