Sir,
I am not a income tax professional . Every year I mysrlf file my return . Can I file return for my son and wife from their Login .

I would like to know one thing more . If I-Tax payable is greater than TDS in a return - how I-tax would be paid / adjusted .

With regards,
Sudhir Saha

Greetings,

I wish to know what is the limit of amount a private limited company can take exemption for the interest paid on the unsecured loan taken (Please note that this loan was from the Director to the Company)

Regards

We have Purchased Assets of Rs. 100 Crore on credit at the begging of Financial Year and at the end of FY we sold all purchased assts as a slump sale for cash consideration of Rs. 100 crore. What will be tax liability?

Apparently it should be zero but when we calculate capital gain as per the provisions of Rule 11UAE we have capital gain because FMV2 is Rs. 100Crore and the Net worth is Zero.

Can any one solve this puzzle? If so i will be obliged

Hi,
I already have one income tax account but mistakenly create another account with same PAN number. Now I don't want that account. How to remove the second created account?

Dear Sir/Madam,

Mr A had a flat in a building in Navi Mumbai that was not in good condition. So the Flat fetched a lesser price (Rs. 23 lakhs) than the market value as per stamp duty valuation (Rs. 29 lakhs). The condition of the building was really not good and also had many municipality and water problems.
My query is as follows:
1) Is there any transaction limit for reporting the sale of a flat in ITR even though it fetches a lesser price? I mean sale price is just Rs. 23 lakhs and there is also no capital gain then is it necessary to file the return?
2) Will Mr. A get a notice from the IT dept as the sale price is less than the market value as per the registrar?

Kindly guide.
Thanks & Regards,
Suraj

If a videography is taken for appraisal of class taken by Lecturers, under which section the tax will be deducted at source from the payment?

And what will be the nature of such service?

Hi,

If a company is calculating TDS for a contractor who qualifies for Section 44 ADA, should one check the tax slab after applying the allowed deduction of 50%? Background -- We need to pay professional fee to a Doctor who is eligible for presumptive taxation under Section 44 ADA. The contract is in the nature of Employer-Employee relationship because there are several restrictions on the Doctor's ability to work elsewhere. This means that TDS should be calculated under Section 192. (https://taxguru.in/income-tax/payment-independent-consultants-liable-deduction-194j-192.html )

Kindly guide.

Regards,

Hi,

I filed TDS return for FY 2022-23 (Q4)on 31st may'23, it is processed with defaults later on filed TDS correction return. Correction return status showing as rejected at efiling without intimating any error. two times done still same status, How to proceed?

Is it mandatory to deduct TDS by flat owners for the payment done to a party from their collective bank account?. They are registered under 'Association of person'.

Collective Bank account in the sense, all the flat owners transfer their maintenance amount to a single bank account which opened under flat A/c and from there the payments are made.

Eg: If they pay an amount of Rs.110000/- to a contractor for garden maintenance. Does the flat owners need to deduct TDS.

Sir

Can we go for ITR or wait for some time

Please advise