Dear Sir,

One of my client has purchased a property and wants to make TDS payment. He has made the payment to the builder in 2 installments. He paid Rs. 32 lacs in Feb 2023 and 32 lacs in March 2023 and has also applied for loan for balance payment to the builder.

My query is do I need to fill Form 26QB separately for each payment made. Also what should be the date of payment I must put for the installment he will receive through loan. Bank is insisting on making entire TDS payment including loan amount.

Please help me in this matter.

Thanks,
Divyesh Jain

Dear Sir,
In our organization in appointment Letter we agree to pay Rs. 300000/- to a employee after completion of 3 years.

We made provision for Retention payable for first two year but we have not yet paid as 3 years yet not complete

Please confirm whether we have to deduct the TDS on this amount in first 2 years. and if we paid the TDS for first 2 years and employee leave the organisation before completion of 3 years. what will be accounting treatment.

thanks in advance

IF Assessee is Trading In FY 21-22, and Turnover From Option Exceeds 1 Crore then TDS Provision Is Applicable On Him or Not?

Can we opt for Sec115BAC new tax regime while filling revised return for AY 2022-23, if the original return u/s 139(1) was filed under old regime.

1. I have paid 100% property payment to builder. At possession TDS is applicable on 1 year Advance Maintenace & Society development Charges payable to builder which is 100000(1 lac)
2. What value to be shown in while filling form 26 QB.
1.Total value of consideration(Property Value):Rs 1 lac or property value which value to be shown
2.Total Stamp Duty value of property:Rs 1 Lac or property Value which value to be shown?
3.Total Amount Paid or credit currently:1 lac or anything else?
Kindly guide on above point.
Is it to filled under Form 26 QB only or any other head?

I filed ITR-2 for the A.Y. 2022-23 reflecting Rs. 1,54,136 as the losses of the current year arising out of the interest paid towards a housing loan on a self-occupied second property. The intimation received u/s 143(1) reflects that the income computed u/s 143(1) has not taken into consideration this amount and has modified the column showing the losses of the current year to Zero. As per this calculation under 143(1) whole calculations of ITR have changed and the intimation reflects the demand of Rs. 20,330/- . I may kindly be advised to get the same rectified.

Hy,

i have 2 lac turnover in fno and loss of 60k i don't have any income source i started with scholarship of 1 lac still I need to audit my account as my turnover under 1cr and profit<8% of turnover.

How the income calculated i have done so many transections in saving account but all are small the gross credit amount is not crossing 10 lac I'm in engineering student current year is 3rd. Do I still need to file itr.

Suggest me accordingly your valuable knowledge it will help me to get out from this.

Hello,
I had a query about my Residential status. This is the first time I have moved from India to UAE. I am a freelancer and I have moved on Virtual Work Visa scheme in UAE and currently working for US and EU clients from UAE remotely as self employed.

- Income earned in India >=15L
- In India <175 days (Apr'22 to Sept'22)
- Not Liable for tax in any country as UAE is 0% tax

I want to understand what will be my Residential status (I think it is coming as RNOR?) and will my foreign Income be liable to tax In India?

What is the meaning of profession set up in India in the statement for tax liability for RNOR "Income accruing outside India from a business controlled from India or from a profession set up in India"? - Does this apply to me?

I used to be a freelancer / self employed Individual In India as well (Only for overseas clients) but have stopped this activity and no longer control or operate It from India after moving to UAE.

Can someone please assist with these queries?

Thanks,

Dear Sir/Madam,

would like to know what would be the remark shown on portal after assessments are completed and case is closed FY 2018-2019.
As i received sum of 0 demand after providing all required documents on case.
In portal Proceeding status is showing closed under closure order number xx. pls confirm is it closed or any other assessments will be started.

regards
Ateesh

Hy, i am a student and i got scholarship of 2lac.
IF money credit in my account total of it cross 2.5 lac. Am i applicable to file ITR. All other transections are small which is debited and credited in account. As i am student i don't have any side income