Sir, for how many years I have to keep / preserve my account books for the purpose of Income tax act, if my yearly turnover is more than 5.00 crores and my accounts are audited every year ?

Hi My wife was a Govt Employee in Sikkim, now retired. She is paying IT even now. She is an OLd Settler of Siikim, residing before the cut off year.
1. Since Old Settler have been exempted from IT, can she claim refund of already paid amount ?
2. What is the process to claim Exemption from now henceforth ?
3.Are Bank FD Interest exempt under Securities, or as Income arising from within the State ?
Regards.

Dear Sir,

I want to make an HUF deed in which my father was the Karta of HUF. Now after his demise I want to become the Karta of the same HUF.

My query is do I have to make any monetary transaction with HUF since I will be becoming the Karta of HUF. The format of the HUF deed shows Gift to be received in cash/cheque to the new karta.

Please help me resolve this issue.

Regards,
Divyesh Jain

We have 40 year old home on My fathers name. Though it son my Fathers name it is joint property of my Father & his 3 real brothers having equal shares which was mutually agreed on basis of internal relation & belief. No all 4 Brothers decided to sell home and do 4 equal shares. They are ok to sell home without converting into their name. So on paper i can sale home and divide in 4 shares as my father passed away recently. AN di am only his legal successor.
For safer side i just to want to know tax liability or any other liability or expense because of this.
I am already employed in private firm and paying Income tax.

My son is employed in US.

He is an NRI.

In the current Financial Year 2022-23, he came to India. His stay in India is covered partly by leave, and partly by Work From Home. His total stay in India is less than 182 days (and more than 120 days).

His leave salary and salary for the Work From Home (India) are credited in his Bank A/c in US.

Salary credited in his US Bank A/c for Work From Home (India), in terms of INR, will be more than Rs. 15.00 lakhs.

He pays income tax in US for the entire earnings.

Clarification may kindly be provided for the following :

(a) What will be his tax liability in India ?

(b) Does he have to file Income Tax Return in India ?

(c) Since he has already paid income tax in US, what is the procedure to avoid double taxation in India ?

Sir, I want to file TDS return for the FY 2022-23- Q3. The deductor was a government organization and the TDS was deducted by Treasury on behalf of deductor. Payments to Income tax were made by book adjustment not direct payment. The details can be checked in OLTAS BIN. But while matching the amount some amounts shows mismatching with our ledger. How to find the amount made to IT?

1.I want to file TDS return for the FY2022-23 -Q3. But I didn't have previous PRN no. or TDS file receipts. All the previous returns were filed by a TIN FC. Due to some reasons, we cant ask the receipts from previous TINFC. I only have traces login credentials. For requesting conso file of Q2 PRN/token is asking. For filing in offline using utility "Receipt No. of earlier filed statement " is asking. How Can I get those details.

2. While trying to register TAN in income tax e filing portal it shows an error message like this" "Error : PAN is not found to be linked with TAN. Please get your PAN of organization updated in TAN data through Protean (NSDL) first and then complete your registration on e-filing."

A client sold some goods to their foreign customer for Rs. 8,50,000/- last year but during the current financial year, these goods were returned and hence the amount was remitted back so would this transaction require reporting under Form 15CA as per rule 37bb ? If yes, under which part of the form would the details be filed ?

Thank you.

Sir,
Please guide me how can i separately download CSI file for form 26Q & 24Q 3rd qtr . tds return for FY 2022-23 and how it validate . Further we have paid TDS payment for Nov & Dec 22 through Over the counter and i can downloed challan file from Incom tax poratal but cant segregate and validate it for 24 Q and 26Q.
Please revert .
Thanks & Regards,
Harish Thanvi

Actually my neighbour got demand notice for 2,50,000 from department. Department says within 30 days pay demand. Beyond 30 days along with demand 1% interest payable
My neighbour have not sufficient money for paying in single instalment. He wants to pay amount in two installments.
My doubt is can he eligible to pay demand amount in instalments and interest impact if any please explain.
After payment any reply will given in income tax site.
Thank you sir