Hi,

I am a salaried taxpayer with my residential status for AY 22-23 being ‘Ordinary Resident’. I work for a semi-government organization and was transferred from Mumbai to Hyderabad in August 2021. I received the following allowances from my employer due to the transfer:

1. Lodging Allowance per day (for temporary hotel accommodation for a 2 month period)
2. Halting Allowance per day
3. Journey Fare (Air tickets purchased by me reimbursed by my employer)
4. Local Conveyance
5. Miscellaneous Expenses
6. Allowances for transfer of belongings (including a car)

The above allowances aggregate to about Rs. 5 lakh.

I request your guidance on whether I can claim any exemption under Section 10(14)(i) of the IT Act read with Rule 2 BB of Income Tax Rules for the aforementioned allowances. I have already filed my returns for AY22-23 in July 2022 and same is yet to be verified by the IT authorities. Will file revised returns accordingly.

Would appreciate your valuable guidance. Thank You.

DEAR SIR,

CAN WE ANY ONE CAN FILE FORM UPDATED ITR U FOR THE ASS.YEAR 2021-22. WHO IS ELIGIBLE FOR FILING ITR -U. ONE WHO CAN FILE IF PREVIOUS YEAR NOT FILED ANY INCOME TAX RETURNS BELOW TAXABLE LIMIT.

PLEASE CLARIFY ME

REGARDS

Dear Sir,

One of my client has transferred my professional fees in my company's Bank account instead of transferring it to my own account. My company is registered under GST.

My query is can I directly return the money to my client from my company's account as there was no bill issued by my company.

Please help me in this matter.

Regards,
Divyesh Jain

One of the clients is a real estate developer under proprietorship and the project has received completion certificate in FY 2122. In this case all the bookings have been received after the issue of completion certificate and hence no gst has been collected by the builder on the same.Till FY 2021 all the expenses related to project has been shown as WIP.

However a good amt of expenses has been made after the date of completion certificate w.r.t the project. What should be the treatment of such expenses?Should it be capitalised or treated as revenue expense?

Also what method should be followed in this case. Percentage Completion Method or Project Completion Method.

SIR AM GOING TO LONDON FOE FELLSHIP IN LIVER TRANSPLANT I AM MCH IN HEPATOBILIARY WHAT TO DO IN MY PPF ACCOUNT SAVING AND FD BANK ACCOUNT MUTUAL FUND KYC INCOME TAX STATUS OF RESIDENTIAL DR SAHIL GUPTA

Dear sir,

Please confirm whether TDS is applicable on internet service bill of Airtel, JIO, etc.
Effective from witch date and under which section.
If notification or any supporting available please mention.

Dear Sir,

A person have income from business turnover Rs.2 crore books covers under section 44AB. GP increase 5% as compared to Financial year 2020-21. GP in Financial year 6.7% in 2020-21 and GP in Financial year 2021-22 is 11% Please suggest can we face any problems from IT department.

Will Late filing fee U/S 234F apply for return submitted before due date but everifed under condonation delay for an individual.

Last year late payment of PF and ESIC were disallowed in Tax Audit
While filing next years Return, the set off of the same remained unclaimed
Now can I file rectified Return claiming set off of previous period disallowed expenses
under which section the set off can be claimed in rectified return

I have a home loan from SBI taken in 2013, and got another home loan top up sanctioned based on earlier loan, in 2022. The home loan top up is taken for purpose of renovation/repair, and not construction.

1. Can income tax rebate be claimed on interest amount, from both the loans simultaneously subject to a max of 2Lakh?
2. Since the top up loan is for repair/renovation, for self occupied, there is a limit of 30K deduction. Can i claim a 2Lakh deduction if its rented property, inspite of being a top up loan for purpose of repair/renovation?