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Dibyendu Majumder
This Query has 3 replies

This Query has 3 replies

22 May 2022 at 13:03

SCOPE OF TDS

Sir,
A developer company purchases a 12 Bigha land, pays the land cost to the landowners & also pays some amount to the persons who occupy illegally in this land, Is any TDS deduction necessary for the payment made to those occupiers & if made in what section & rate?
Please reply urgently


Parth Patel
This Query has 1 replies

This Query has 1 replies

22 May 2022 at 12:34

Turnover in special case

In case Auto dealer engaged in purchase and sale of used cars having turnover of more than 1 cr considering all sale of old cars during the year, what will be T/O for income tax and GST purpose only net margin earned from sale or whole sale amount?


Kollipara Sundaraiah
This Query has 1 replies

This Query has 1 replies

Sir,
It assessee cash loan pay to debtor rs:4 lacs in f.y.2018-19 .this transaction not showing in books and it returns.if assessee cash loan rs:4 lacs amount received from debtor in f.y.22-23.
Question:
Assessess above mentioned loan transaction show procedure in books and it returns.


manisha
This Query has 1 replies

This Query has 1 replies

21 May 2022 at 15:59

Deduction 80C-Atal Pension Yojana

Sir,

Can employee claim deduction u/s 80C contribution for Atal Pension Yojana which is in the name of his wife.

Payment was done from the bank to atal pension Yojana which is in the name of his wife(single account) but wife not filing income tax return.


Anushka Sharma
This Query has 2 replies

This Query has 2 replies

21 May 2022 at 11:26

DEMAND NOTICE FOR AY2020-21

Hello,
I received the demand notice for AY2020-21 in Nov 2021,
I tried several times to file RECTIFICATION but I was getting 
ERROR: ITD-EXEC2003.
Can I file the revised return or belated return now.
Appreciate your kind response.
Rgds,
Anushka


Vivek Desai
This Query has 5 replies

This Query has 5 replies

21 May 2022 at 09:22

Related to FA & FSI schedule

1: Which Dollar to Rs conversation rate is to be considered while calculating Capital gain on selling of RSU of American company if Vestng Date is 6 June-22 & selling date is Nov-22 for calculating a) Acquisition Price & b) Selling price for computing CG?
2: Whether CC schedule will be populated automatically if we make entries in FA & FSI regarding Capital gain?
3: if not populated automatically then how & where to enter STCG & LTCG on foreign RSU?


Rahul Singh
This Query has 17 replies

This Query has 17 replies

i taken residency of other country and opened company and personal bank account. opening business account also. i will not stay in india to be nri. someone say if i open a company in foreign it is require by rbi to transfer capital for company from india. that is real? i have to or not? the country i opened company do not say to transfer capital no rule. so why india rule for foreign company? help please


Suresh S. Tejwani
This Query has 1 replies

This Query has 1 replies

Mr.A received notice u/s 148 for the assessment year 2013-14 as on notice dated 31.03.2021 but the notice was digitally signed on 15/04/2021 .

As per the latest judgment of H'nble Supreme court state that reassessment notices issued under old law shall be deemed to be notices issued under new law.

Here sec 149 state that
As per substituted section 149, no notice shall be issued for the relevant assessment year if: (a) 3 years have elapsed from the end of the relevant assessment year, unless the case falls under clause (b) below

(b) If 3 years, but not more than 10 years, have elapsed from the end of the relevant assessment year unless the Assessing Officer has in his possession books of account or other documents or evidence which reveal that the income chargeable to tax, represented in the form of asset, which has escaped assessment amounts to or is likely to amount to INR 50 Lakhs or more for that year.

This limit of 50 lakhs apply to old notices also or not ?


Subhash
This Query has 6 replies

This Query has 6 replies

I had filed ITR -7 for AY 2020-21 on 27-01-2021 (due date was 15-02-2021) and also filed Audit Report in Form 10B on 27-01-2021 (Due date was 15-01-2021).

The CPC had disallowed expenditure claimed (revenue and capital) and taxed @ 30% on Gross Receipts.

Rectification request to reprocess was also processed with demand due?

What is the course available to clear the demand ?


Vivek Desai
This Query has 12 replies

This Query has 12 replies

20 May 2022 at 16:36

Foreign Asset FA schedule of Itr2

1: Please let me know whether Vested RSU till previous year are required to file in returns? And whether separate entries for same stock with different vested dates are to be entered.
2: Whether RSU vested upto Dec21 and sold are to be disclosed or from Jan-22 to March22 sold RSU are also required to disclose?
3: The capital gains of sold RSU from Jan-22 to March-22 are to be considered for calculation of income for Fy2021-2022?
Pl elaborate






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