This Query has 3 replies
Where an assessee uses a property for residence cum office purposes, should the annual value of property used in business be added to PGBP?
The ICAI material mentions that annual value of the following properties is added to PGBP:
1) Portions of property occupied by assessee for business or profession carried on by him.
Is the annual value of this property ( calculated in the same way as let out) called as notional rent? Is it to be added to PGBP? Considering the fact that we have not actually received anything, how can we add annual value ? Also, as per Sec 22 only profits from using the property is added to PGBP.
This particular line from the material is confusing me . Kindly help me interpret the meaning of this.
Thank you.
This Query has 1 replies
In paying 26qb what shld be my "stamp duty value of the property" in lumsup method of filing.
bazar mulya 5cr
agreement value 5.25cr on which 5% percent stamp duty paid while registration.
plz guide 🙏
This Query has 1 replies
I have bought a property from an NRI. The NRI has a nil tax deduction certificate from the Assessing Officer, so I did not deduct any TDS.
Do I need to file nil TDS return in this case, or not file anything at all?
This Query has 3 replies
Respected Sir I have filled return u/s 139(8A) but return is defective or incomplete . the notice received as per below reason Return has been filed u/s 139(8A), but it is not accompanied by the valid proof of payment of tax as required u/s 140B. i have filled return of 3 lakh fifty thousand income , i have Paid 1000 Rs. Late fees under self assessment Tax (300) there is no tax Liability arised u/s 140B so why i have received this notice and How to Respond this notice ?
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This Query has 1 replies
Dear Experts,
While filling Form no. 15CA Part A, Part B and Part C, limit of Rs. 5,00,000 needs to be computed, Can you please confirm whether needs to checked from remitter point of view or receivers point of view?
Example, In October 2023 we have remitted above 5,00,000( Converted to INR) to a vendor X and issued 15CACB. Now we have received a invoice from vendor Y amount to USD 1020 may be INR 83,000 which is less than 5lakhs for vendor Y. Do we need to issue 15CB here?
Kindly help me understand the limit purspective.
This Query has 3 replies
Recently when I tried to transfer fund from India to US for My Daughter my forex agent told me my Pan details dont match and i need to provide some other identity.
Later on when i checked I found the following
Pan card I have has my photo and My Name followed my Spouse Name in first line.
in second line my fathers Name.
But in https://eportal.incometax.gov.in/iec/foservices/#/pre-login/knowYourAO/1
it has my father name followed by my name as Name
so when you do online checking there is no match.
1) what should i do
2) how can Income tax make such error
This Query has 3 replies
sir,
It Assessee tax audit filed f.y. 21-22(asst:22-23) AOP status and refund claimed rs:3 lacs.but refund amount not received till date.
Question:
Assessee refund amount received procedure.
This Query has 3 replies
I maintain books of accounts in accrual basis and one of my party has uploaded tds on cash basis in fy 2022-23 but i have showed the turnover of this party in fy 2021-22 and sales of fy 2022-23 is nil for the whole year . Now in 26AS of fy 2022-23 gross receipts and tds is showing and i have no sales in this year. Now in filling form 3 in tds schedule the gross receipts and tds only i can mention in which head it should be accounted but not the year in which it was accounted. I have to claim the tds amount as refund. will the return show defective as its appearing in 26AS but by Gross receipts for fy 2022-23 is zero.
How to file the form 3 for fy 2022-23 so that the return will be processed.
This Query has 1 replies
Sir/ Madam, as and when we submit json file through ITR7-utility we are getting Category Defect A Error that is which upload is not allowed unless the error is rectificed. The error description is 'The source of funds to meet revenue and capital applicaiton at sl no. 'C'' should be equal to 'Total application towards the expenditure of the trust/institution' at sl no. A in schedule A.
We prompltly checked the ITR7 and found they are equal but the above error is persisting and not allowing to submit the same. This happened similarly to two other Trust. Please advice/ help. Thank you.
This Query has 1 replies
Dear Sir
I have a query how to calculate tax liability on the individuals epf withdrawal before 5 years, out of the below three heads which is taxable:-
1) employer contribution
2) employee contribution
3) interest received
4) Form 10C rcpt
Thank you
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Notional rent of property used in business added to PGBP or not