Will the due date of filing of return of income of 31st October 2022 of the persons who were required to furnish audited financials which was extended to 7th October from 30th September will also be extended to 7th November or will it be same (i.e. 31st October itself)
Thanks in advance

Tax audit report for AY 2021.22 was submitted in Feb 2022. The provision of Rs. 7 lakhs was made for leave encashment as on 31.3.2021. In the said report the leave encashment Rs. 50000 paid between April 21 to Aug 21 was shown in clause 26 B (a) of 3CD under subclause a – “as paid on or before the due date for furnishing the return of income of the previous year under section 139(1)”. However while filing the return of income in Feb 22, the leave encashment Rs. 400000 paid in Sep 21 was also claimed u/s 43B on payment basis ( the due date of filing of return of income was extended for AY 21.22). Now this additional claim u/s 43B is disallowed while processing the return of income u/s 143(1) on the basis of mismatch between audit report and return of income. Can I revise the audit report to add 400000 in clause 26 B (a) of 3CD. I am doughtful because the wording in rule 6G clause 3 - is " The report of audit furnished under this rule may be revised by the person by getting revised report of audit from an accountant, duly signed and verified by such accountant, and furnish it before the end of the relevant assessment year for which the report pertains, if there is payment by such person after furnishing of report under sub-rule (1) and (2) which necessitates recalculation of disallowance under section 40 or section 43B.]"

Or alternatively will it be better to accept and pay the demand of tax made on the addition of mismatch of Rs. 400000 and claim it for AY 22.23. Will there be a risk of 270A?

A purchased a flat and added his wife B as joint owner (who has no income except some bank interest but still files IT returns).
A paid the total amount of 80 lacks from his bank account by draft to X the seller.
SHOULD A DEDUCT 80000 AND SUBMIT 26QB OR A and his wife B both should submit (two )26QB in the name of X.

Hello,
I have been investing as an individual in Equities and paying LTCG/STCG at 10 and 15% respectively.
I'm exploring to build up my portfolio using borrowed funds that I understand could be expensed from profits made.

Which would be a tax efficient structure that would help me borrow funds and reduce or minimize the net income tax rate?

I have researched LLC and Pvt.Ltd structure wherein the tax rates are 30% and 27% including surcharge. Please guide and advise the ideal solution.

Thank you.
C.A

Hii,
If a donor, donate the certain amt in ngo, is there any possibility that the ngo has to give them a tds certificate. If yes then how ngo will give tds certificate to donor, if no then how will donor get a tds reduction for itr filing

Is tds to be deducted for ocean freight , as it is taxable from 01.10.2022

Dear Expert,
We received a C&F invoice with the following charges.

1. C&F charges (commission)
2. Transportation charges (Reimbursement)
3. Loading & Unloading charges (Reimbursement)
4. Printing & Stationery (Reimbursement)
5. Hamali Charges (Reimbursement)

1. whether reimbursement of transportation/freight creates a liability on principal to pay RCM
2. Is TDS to be deducted reimbursement of hamali and loading and unloading service providers

Kindly clarify the above

Thanks in advance

If a company prepare Income tax ITAT appeal challan of Rs. 10000/- for AY 2017-18.
By mistake taken 282 challan and minor head taken Tax on regular assessment-400.
Is there any chance to refund or correction in challan.

how to record expenses incurred in books of owner-builder if only one flat is sold out of 20 flats? building is still under construciton.
my view--> proportionately, on sq feet , whatever is sold divided by total sq feet built till now.

Can an NRI become a partner of a firm providing warehousing services to Food Corporation of India? Warehousing services include fumigation and other serivces for storage of food grains etc. This NRI has citizenship in UK, but staying more than 180 days in India. Can he invest in the partnership firm? Will FEMA provisions be applicable in this case?