A client sells site to a pvt limited company and received its shares. No cash received. What are the tax implications.
Can the experts throw light on the tax payable?

Premium amount exceeds 10% of sum assured.

But, premium @ 10% claimed u/s 80C for past years.

Whether total amount received on maturity taxable or only accretion amount taxable?

Please suggest any tax planning in this regard.

Respected Sir,

Last year we had filed ITR-5 for the year ending March 21 joson of which we have opened in excel utility of ITR-5 for the year ending March 22 so that most of the data should reflect automatically. Can it create some issue in ITR filing?

Thanking you in anticipation,

YOURS TARIQUE RIZVI
982 1630 130

Dear Sir,

In a company (Centre for Assisted Reproduction): Bio services (patent rights) development purpose, we are spent amount, this amount we will extra benefit for company - under R & D, extra % to be claim as a expenditure

Please suggest / advise

My client has made a payment for repairs & maintenance for Rs.1,10,000 for the year to a party. This includes both material & service bills.The repair materials cost Rs. 90000 & service charges Rs. 20000. So, should I deduct TDS on the whole amount or just on the service part? Or should I ignore that transaction, as the service part doesn't exceed the limit? In such cases, which amount should be considered as aggregate? the total amounts paid just for the service or the payment as a whole?

Hello,

A Post office NSC matured in FY 2021-22.(NO TDS)
I have been paying tax on accrued income every year for the last 4 years. However PO has reported the entire 5 year Interest on AIS for FY 21-22.

1. Can I use AIS feedback "Information related to other years" and assign the last 4 years interest to those years?

2. I see I can only assign to past 5 years or future 5 years. What to do for KVP which has maturity of more then 9 years. How to assign to 6 or 7 years in the past?

Thanks

We have raise one invoice on 31.03.2022 and paid Gst on that date, But cliant the invoice booked on 09.04.22 and deduct tds on April22. they are replied they can not revise the tds return.
there will be one mismatch between accounts & 26AS what should we do.?

Sir,

I want to know the TDS applicability in Respect of import of service from a non resident person and the service was software support service. At what rate TDS should be deducted and under which section?

I am currently a resident of India. I will be moving to Germany for long-term employment this August. I have recently established a partnership in India and I would like to understand the tax implications in Germany.

1. The firm has two partners including myself. The other one is a resident Indian.
2. The firm is registered in India.
3. The entire capital is sourced from within India.
4. The entire profit is generated within India.
5. The firm pays the Indian tax on the entire profit.
6. I own the maximum profit share.

I have the following questions:
1. Do I need to pay tax in Germany for my share of profits? Or is it non-taxable?
2. Is my Indian resident partner liable for tax in Germany?
3. Would the answers to the above question be different if I convert the partnership firm to Corporation?

What is duration period for employer(an MNC or third party vendor) to preserve income tax records of employee as per income tax act ?