As per Section 64(1)(ii) of Income Tax Act Salary from a company, to spouse of an individual , having substantial interest in the company, is to be included in the total income of such individual, if spouse does not have professional or technical qualification. This being so if the salary is paid by the wholly owned subsidiary of such private company to the spouse of an individual who holds majority shares in the holding private company (while he does not own any beneficial shareholding in wholly owned subsidiary paying salary), whether clubbing provision of section 64(1)(ii) will apply and salary to spouse from wholly owned subsidiary will be clubbed with the income of husband who owns substantial interest in holding company.
section 64(1) starts with the words" In computing the total income of any individual there shall be included all such income as arises DIRECTLY OR INDIRECTLY ................."
Please also refer case law, if any.
CA SUNIL JAIN

Is home loan protection insurance tax deductible?

You can claim tax deduction under section 80C on the premium paid for home loan protection insurance plan. The deduction is not allowed when you borrow the premium money from your lender and repay via EMIs.

is this Correct ?

Dear Expert,

We hire taxi every month, he gives monthly bill without RCM charges, we pay RCM on that bill, my question about this is now his billing has crossed Rs 1 lac, can we are liable for deduct TDS @ 1% or 2% on his bill?

Sir/Madam
i am working i a IT concern. we meet out very high amount for telephone charges to vodafone & broad band charges


1. TDS is applicable for broad band charges, telephone bills to vodafone & pulse
we deduct tds for broad band alone for 194j 10% is it right sir

2.we deduct tds for our vendor. but we cancelled and debit has been made.
we need to adjust the tds with the next month bill ?
3. deduction of tds is responsible for gratuity by employee at the time of payment to employee?
employer responsible right sir.

Mr A and Mrs A are husband and wife. Mr A and Mrs A purchased a house property in February for Rs 50 Lakhs. Rs 20 Lakhs were paid by Mr A from his bank account to seller, property dealer, stamp duty etc.
Mrs A sold some shares in June for Rs 50 Lakhs.
She repaid Rs 21 Lakhs to Mr A along with reasonable rate of interest (considering his initial contribution as loan).
Query Can the funding / payments done by Mr A on behalf of Mrs A for the purchase of house property fall under section 269SS. All the payments by Mr A were done thru proper banking channels on behalf of Mrs A and later refunded through her Bank Account to Mr A bank account along with interest.

My friend has paid the outstanding demand amount as notified by the Income Tax Department on 18 January, 2023 and the details are being shown correctly on the OLTA Challan Status enquiry site. He has paid the same through a friend's bank account who, in turn, has made online payment through State Bank of India and has obtained a taxpayer's counterfoil.

Now, my question is : From where do I download the Income Tax Challan paid as above mentioned to upload in the income tax e-filing site for response to outstanding demand ?

Mr A and Mrs A are husband and wife.
Mr A and Mrs A purchased a house property in February 2022 for Rs 50 Lakhs. Rs 20 Lakhs were paid by Mr A from his bank account to seller, property dealer, stamp duty etc.
Rs 30 Lakhs were arranged through joint home loan. Mr A paid the EMI of Rs 1 Lakh till December 2022.
The house property is in joint name and home loan is joint loan.
Mrs A sold the shares in June for Rs 50 Lakhs which is also the long term capital gain for her.
She repaid the remaining home loan of Rs 29 Lakhs. She also repaid Rs 21 Lakhs to Mr A along with reasonable rate of interest (considering his initial contribution as loan).

Query
Mrs A wants to claim 100 percent exemption under section 54 F.
Can Mrs A claim section 54 F for the loan repayment done to Mr A. (It was always the intention of Mr A and Mrs A to fund the house property though receipts of sale of shares.)

Query
Can the funding / payments done by Mr A on behalf of Mrs A for the purchase of house property fall under section 269SS and be liable for penalty 271 D. All the payments by Mr A were done thru proper banking channels on behalf of Mrs A and later refunded through her Bank Account to Mr A bank account along with interest.

100 shares of a company were purchased for Rs 1000/- in 1986 @ 10/- per share , The company delisted in 2015 when its share price were traded at Rs 345/- per share. The unlisted shares were sold for Rs 14500/- in 2022 through off market trade at Rs 145/- per share. How to workout Indexation cost of purchase price for the purpose of Capital Gains/Loss. Current price index table starts from the year 2001 where as the shares were purchased in 1986.

IF TDS IS PAID FROM INCOME TAX PORTAL BUT NOT SHOWING IN PAYMENT HISTORY BUT SHOWING IN GENERATED CHALLAN AND ACCOUNT HAS BEEN DEBITED FROM THE SAME AMOUNT.
NOW WHAT IS THE SOLUTION FOR THIS ISSUE?
HOW CAN I DOWNLOAD CHALLAN FOR SUCH PAYMENT?

One employee lives in Mumbai and his HO in Delhi. He is having Home loan in Mumbai and living on rent in Mumbai. Can he get HRA and home loan benefit both.
Please advise