Sumeet Gupta
This Query has 1 replies

This Query has 1 replies

28 December 2023 at 16:09

Regarding TDS refund when assessee is died

My client's TDS was deducted. Before filing of Return of Income and claim of refund of TDS, my client is died. How to get refund if bank account of client is not active. this is a case of year 2018.


Murali krishnan
This Query has 2 replies

This Query has 2 replies

i am director of a private limited company i borrowed money from my father as a loan we agreed for 2% interest per month for loan amount
my question is:
1)can director father give loan to company?
2) is TDS need to deduct if company pay interest to DIRECTOR father
3) can company show interest paid to director father AS EXPANSES?


nitin
This Query has 1 replies

This Query has 1 replies

ABC Ltd Outstanding interest of Rs.5 Lacs converted into Loan of 5 Lacs or Debentures of 5 Lacs.
Does interest paid on above 5 Lacs loan or 5Lacs Debentures (which is a interest converted loan/ Interest converted into debentures), allowed a business expenditure for Income Tax Purpose?.


JATIN MODI
This Query has 1 replies

This Query has 1 replies

My client received a bill from postal department as per contract with its bill amount Rs.74731 +GST whether he may make (TDS) deduction of tax while payment?


Aditya Ghatge
This Query has 1 replies

This Query has 1 replies

28 December 2023 at 12:39

Belated Filing of Income Tax Return

One of my client is not in favor of Filing Belated Return as he is a Salaried Employee having Income from Salaries, Other Sources, Capital Gains and Receipts on Transfer of VDA. However, would like to let you know that Receipts on Transfer of VDA are on higher notes, request you to kindly let me know with the consequences for Non-Filing of Income Tax Return.

Kindly advice.


Bhagavat Baburao Shinde
This Query has 1 replies

This Query has 1 replies

Sir/Madam,

I Have question that My Client TDS Deducted at Higher Rate because his Pan & Aadhar Not Interlink. So, i want to know that my Client can Get Benefit of that Higher Amount of TDS which is Deducted by his Purchaser or Seller.??


Gaurav Sharma
This Query has 1 replies

This Query has 1 replies

One of my client earned commission income amounting Rs 1,11,60000 TDS on which is deducted under section 194 H. Now my query is that I dont want to do Tax audit of the same, can i file ITR by preparing proper accounts and avoid Tax audit?
Net profit declared by preparing accounts is more than 50%.


akbar
This Query has 5 replies

This Query has 5 replies

Please provide the process how to inform to the income tax department regarding non filling of income tax department because income is non taxable. IT deparment sending frequent remider for filling of income tax return which was skip by assessee but due non taxable income present and future assess is not ready to filing the inocme tax return earlier he just filled NIL tax return for loan purpsoe.


Kollipara Sundaraiah
This Query has 1 replies

This Query has 1 replies

27 December 2023 at 22:34

Capital investment amount correct

Sir,
It assessess last year's income tax filing details mentioned below
5 years total income rs:32,50,000/-
5 years total expenses rs:12,50,000/-
Question:
Assessess capital investment amount rs:32,50,000/- minus rs:12,50,000/- =rs:20 lacs amount correct.


phanikumar kuricheti
This Query has 1 replies

This Query has 1 replies

24 January 2024 at 16:16

TDS on Invoice if Credit note involved

Dear Sir, I have a query for TDS related.
1) We have received an Invoice for Rs.94,400/-(80,000/- + gst 14,400/-) with date.02.12.2023
2) We have received a Cr. Note for Rs.11,800/-(10,000/- + gst 1,800/-)with date.20.12.2023 against the above invoice.
Q1) Should we deduct TDS on 80,000/- ? or
Q2)Should we deduct TDS on 90,000/- (80,000/-(-)10000/-) ? after deducted Cr.Note. Kindly suggest us a solution. If any notification is there kindly suggest us. Thanks in advance.






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