Respected Sir,

We had filed a revised return of TDS on 29th May and today is 2nd June. Total 4 days have passed but still the status of the statement is not showing the status of the corrected TDS Return. I would like to know how long normally it takes for processing the corrected TDS Return. TARIQUE RIZVI

982 1630 130

Dear Sir/ Madam,

May I please know why TDS in NOT deducted on Payment of Shipping Line Charges in case of Import ?

Thank you,
Rachana

I am facing below error while filing the ITR-2.

May I request you to kindly extend your help.

Error Description Sum of income u/s 111A or section 115AD(1)(ii)- Proviso (STCG on shares/equity oriented MF on which STT paid) & Pass Through Income in the nature of Short Term Capital Gain chargeable @ 15% in schedule SI should be equal to corresponding income as per schedule BFLA

Income details:
1) Schedule OS : Income from other sources (Bank Interest etc..) : 83,100
2) Schedule CG : Income from MF sale (short term) : 1,01,938
3) STCG details in Schedule CG, under Tab 15% rate also filled

Schedule SI shows : 1,01,938

I have filled in Schedule CG, Schedule OS - however the above error persists. Not sure what do I need to do.


Kindly assist

Dear Sir,
As we all know that Limit for TDS u/s 194-C for payment to contractors is Rs.30000/- single payment and Rs.100000/- aggregate. Now my query is suppose the contractor has given different payment aggregate to 80000/- ( 25000+25000+25000+5000) on 4 different dates in same financial year and the same got credited on that respective bill date in books during that particular financial year say FY 2022-23. Now suppose payment of Rs.80000/- is made through single cheque then liability of TDS u/s 194-C arises or not ? No other bills during FY 2022-23.
Experts please answer.

Respected Sir/Madam,
the following error is persists when validating the ITR 3 return.
Error :- Income from Profits and Gains from business or profession is greater than 2.5 lakhs but balance sheet is not filled.
We have business income and capital gain loss. So we are filing ITR 3 return under presumptive income for business and showing capital gains loss under short term capital gain head.
But when uploading return the above error persists.
So whether is it mandatory to fill balance sheet and profit and loss account when we have Income from business and also income/loss from capital gains.?
Please guide.
Thank You

I had formed HUF with self, mother and wife in my name say NG (HUF) and am Karta of this HUF. This can be my father's HUF but I had not named it in fathers name as he had expired 7 years ago and I formed and registered the HUF 2 years after his passing away. His PAN was closed.

I had a daughter around 10 months ago and now I want to register another HUF with self, wife and daughter as coparceners. Can I register this 2nd HUF also in my name as NG (HUF) with myself as Karta. Date of formation will be 2022. I am keeping names same as typically HUF name is Karta Name (HUF).

Is this legitimate as per IT Act as law says an individual/HUF/entity cannot have 2 Pan cards. Will the 2 HUFs be considered different as coparceners are different & smaller HUF within family is permissible and DOB is different for both. But the names of both HUFs being same NG (HUF) and other details of Karta ie myself being same, am seeking clarity. Thanks.

I clicked on proceed to validation on ITR-2 , and its showing 1 errors found but error description is empty. Please help as I’m unable to identify the problem and hence unable to submit the form

Is Trade union is exempt for filing income tax return.

An Employee has Basic Salary of Rs:4.5 lakhs & PF Deduction is Rs:-54,000/- and Equal Contribution by Employer Also. Employee Also Had 80C Investment of 1.5 lakhs. My Question is How The Employer Contribution will Be Treated in Computation of Income

Salary 4,50,000
Less:-Employee PF Contribution 80C 54000
Less:-80C Deduction(Balance Limit) 96000
Net Taxable Income 3,00,000

or


Salary 4,50,000
Add:-Employer PF Contibution 80C 54,000
Less:-Employee PF Contribution 80C 54,000
Less:-80C Deduction(Balance Limit) 42000
Net Taxable Income 3,54,000

URGENT URGENT URGENT
1)ERV highest of 2
FRV MRV
2)AERV least of 2
ERV SRV
3)ARV
Rent received + outstanding rent - in realised rent
4)Highest of AERV ARV selected And
5)Adjusted ARV is ARV - Vacancy lose

Doubt:- *****1)Even after vacancy loss do we need to take Highest of AERV and Adjusted ARV and then it's GAV And
2) in this if we take this condition we should apply ARV = GAV if only due to vacancy and if not GAV = ERV
3)Or else Only after Adjustment of vacancy loss we will have gave
4)Is this proforma right?