I want to file pf nil return then any interest (7Q) or damages (14B) applicable? No, then how long can file Aug- nil return . if i file in Oct then only 75 payable right?

An assessee liable to tax audit u/s 44 AB, has opted for new regime under 10 ie.
Can he get tax audit report and file under the new regime?
I request the experts to Kindly clarify.

In Section 80jjaa deduction is not available in case - The business is not acquired by the assessee by way of transfer from any other person or as a result of any business reorganisation

If Co is formed by splitting of Co in 2010 then this condition is applicable for deduction as there is no time limit in section.

SIR WE HAVE RECEIVED INTEREST ON EMPLOYEES CONTRIBUTION AND EMPLOYERS CONTRIBUTION ON WITHDRAWAL FROM PROVIDENT FUND ACCOUNT, WHICH IS EXEMPTED UNDER WHICH SECTION ? TERM OF SERVICE IS 6 YRS

Interest paid by business man on bajaj finserv flexi business loan is liable to deduct tds on interest payment?

Dear All,

I have turnover of 1,22,50,000/- in FY 2021-22. All the transaction are done through bank. Both the payment and receipt in cash does not exceeds 5% of the total payment and receipt respectively.

But my profit arrives at Rs. 4,22,220/- (i.e. less than 8% of gross receipt).

I have not opted for presumptive assessment u/s. 44AD of the act, anytime earlier.

In the above case am I liable to gets my account audited?

Thanks
Nirmal

Income from Franchise healthcare lab. Is TDS applicable for refund or I have to show as nontaxable income.

I need clarity on Tax applicable on EPF withdrawal.
I was working with company A from 04-Dec-2014 to 12-Aug-2016 and during this tenor EPF was deposited with Company's EPF Trust.
Due to personal issues I was not working for 4 months i.e.. from 13-Aug-2016 to 04-Jan-2017. Later I joined Company B on 5-Jan-2017 and with Company B the EPF was deposited under UAN a/c. So from Jan-2017 onwards I am in continuous service.

Finally Company-A pushed me to withdrawn EPF amount and after completing the formalities received credits of Rs.Rs.203000/- on 12th May-2021 i.e. 4.9yrs after service exit with Company-A. At the time of withdrawal Form15 was submitted hence there no deduction done by Company-A however same is present in my Form 26AS under head - PART A1 - Details of Tax Deducted at Source for 15G / 15H.

Please confirm if this EPF withdrawn amount is Tax free or do I need to pay taxes.
Thanks in advance.

As per RBI direction bad debts provision made against investment in PMC Bank. Provision made for last 3 years@ 20% ,from 2020 ,2021 ,& 2022 and for next two years also RBI given direction for provision , Now PMC amalgamate with unity small finance bank and investor of PMC will take NCPS& equity bond of Unity. As PMC amalgamate with UNity SFB what will be the taxation effect for last 3 years bad debts provision , it will added back in computation or not?

Sales as per books of accounts maintained is Rs.95 Lacs, however revenue as per ICDS working is Rs.15 Crore.

I am confused which turnover should I consider for applicability of Tax Audit. If I choose sales as per books then tax audit is not applicable and if I choose ICDS working then Tax audit is applicable.

I have not come across any reference which says for tax audit applicability turnover should be considered as per ICDS working.

Please suggest which one to consider with any reference.

Thanks