Respected Experts,

Kindly clarify - while Calculating the Interest on Capital of Partners from which value we need to Calculate

Example: if Interest on Capital is 12%

Do we need to Calculate Interest Directly from Opening Balance of Capital

or Closing Balances ( as shown below)

Opening Balance of Partners: XXX Cr
Add: Partners Salary Payable: XXX Cr
Add: Share of Profit Payable: XXX Cr
Less: Salary paid XXX Dr
Less: Profit Paid XXX Dr
Less: Other Drawings by partners XXX Dr
Closing Balance XXX Cr
Add: 12 % Interest on Closing Balance XXX Cr

Now do we need to Calculate Interest on Capital from the ending balance as shown above

Kindly clarify

TDS u/s 194 Q to be charged on basic value or invoice value incl GST as per law..

DECLARATION:
===========
We herewith confirmed and declared that we are not having any " Business Establishment " in India. Therefore under Indian Income Tax Act 1961 NO TDS to be deducted from our commission payment since income deemed to accrued and arise out of India.

The drawee is basically NRI in Australia and we have to remit payment in US$ on account of brokerage and commission.

In such a case whether 15-CA & 15-CB are required to be filed.

Please guide me and oblige.

Dear All


I have query regarding the surrendering of the ULIP policies which I bought in the year 2005-2006.I have been paying the premium ever since I bought the policies. Now I want to surrender the policies. My question is regarding the tax implications based on deduction claimed in previous years under Section 80C on the basis of the ULIP premium. Please note one is ULIP policy and other one is pension plan yearly premium.

Kindly suggest the mode of applying for refund which is paid in excess

Assesse transferring amount of Rs. 95,00,000 to his children's, who are residing in foreign, from the amount obtained from sale of land, on which tax has been already paid and returns are filed, is he required to submit form 15CA & 15CB?

FOR APPLICABILITY OF SECTION 194Q WHETHER PURCHASE RETURN MADE BY ISSUING DEBIT NOTE SHALL BE TAKEN INTO CONSIDERATION FOR THE PURPOSE OF CALCULATION OF THRESHOLD LIMIT OF 50L IN ANY FINANCIAL YEAR?
IF DEBIT NOTE ISSUED BEFORE THRESHOLD LIMIT CROSSED IN ANY FINANCIAL YEAR WHTHER THAT WOULD BE INCLUDED IN CONSIDERING THE THRESHOLD LIMIT?

OR
TDS WOULD BE APPLICABLE DIRECTLY ON PURCHASE VALUE WITHOUT CONSIDERING PURCHASE RETURN BY ISSUING DEBIT NOTE?

whether deduction can be availed if the house property purchased in the name of wife.
Deduction for interest paid under section 24 of Income from HP Rs 2,00,000/-
Deduction for principal amount under section 80C Rs. Upto 1,50,000/
If Payment made by Husband from his income and EMI to be paid by Husband.

If option No is selected for 'Are you opting for new tax regime u/s 115BAC?' and In Schedule VIA, if Resident assessee has claimed deduction u/s 80U for self with disability then amount should be equal to Rs.75,000


Since I have not selected 80U, how to remove this error. I have tried by filling 0 under 80U, but again getting the same error. Please help

I have mentioned correct date of notice but still error appears