Dear Sir/Madam,

I had invested with a stock broker(BMA Wealth Creators) in various shares worth INR 2,27,738.70 (cost value) between July 2017 and September 2019. The broker was announced defaulter and expelled by NSE on 31 Oct 2019. Since all my shares were in broker's pool account, I filed a claim with NSE as per NSE notification. NSE had reviewed my claim and admitted INR 2,24,574.48 (cost value of invested amount) from Investors protection fund and paid the same in Feb 2021. NSE further reviewed the claim and recalculated the claim settlement amount adjusting for the closing market value of shares on the date of default/expulsion of the broker. The revised claim amount was considered as INR 3,12,196.65( Market value as on expulsion date) and paid the difference amount of INR 87,622.17 (3,12,196.65 - 2,24,574.48) in Nov 2021.

I request your advice as to how treat the above while filing the IT return for AY 22-23.

Please let me know if you need any further details relating to this to assist me

Note : I had not shown the settlement received for INR 2,24,574.48) in tax return for AY21-22 as there was no capital gain.

I would really appreciate your help and suggestion so I am Tax compliant.

Kindest Regards,
Krishnakumar V
Mobile : 9840847698

We want to distribute benefit/perquisite in the form to gold coins to our dealers/distributors in this year ie, post 1st of July 2022. This benefit is for achieving the sales for previous financial year i.e. FY 2021-22. The said scheme was very well drafted and circulated to all the concerned during the beginning of the previous FY. only distribution of the coins will take place in this financial year.

now the question is whether TDS under section 194R is applicable even if the scheme under which we are providing such benefit belong to previous year?

Sir,

I formed an HUF of my husband and me.
The capital is Rs. 10-15 lacs to be gifted by husband's mother (my mom in law)...

Is gift received in the hands HUF by relatives of the member of HUF taxable to HUF?
It is transferred by bank cheque?
What if transferred by his mother in cash?

A PIO invests in MF from his NRE account. On redemption if the redeemed amount is transferred by MF to his NRO account, will it be subject to LTCG? As far as my knowledge goes MF investments by PIO from his NRE accounts are exempt from any tax , but I want it to be confirmed. The doubt arises because MF is transferring money to his NRO account, since bank is not accepting money in his NRE account.
Are there any specific requirements for MF to transfer money in NRE account, when they have been given NRE account statements showing money was invested out of NRE funds

Dear sir,

we are paying accommodation and petrol charges for car to our employee (Car is owned by company, but used by employee) in addition to Salary(Salary includes HRA Part Too)

Please clarify weather 194R tds provison is applicable on such payments of acommodation and petrol charges ??

For clarification:
Accommodation charges we are hitting on Staff welfare expe on our P& L
Petrol charges are also we are hitting on Vehicle running exp on our P& L

Kindly clarify

Regards

A&B joint holders of unlisted shares since 2008. The entire holding was transferred in the name of A with a new broker. Now the issue of B having given up the title on these shares presumably 50% to A will it attract capital Gains. What will be the value of this transfer though no consideration is involved. Will Fair Market Value be considered for transfer and will it then attract capital Gains. If FMV will be considered where to obtain it from.

Dear Sir,

In our organisation one of our Employee is working In Oman, We are payee the salary to him to his Indian Bank Account.

his Residential Status is NRI

his income is crossing the Taxable Limit.

kindly confirm whether We have to deduct the TDS on Salary.

Santosh A. Patil

I am sole proprietor of my firm.
I don't have upi enabled in my current account .
That is why some of my customers(due to ease) directly deposit business payment into my Saving bank a/c via UPI transactions.

Is accepting such business payment in saving bank a/c legal and allowed?

If yes,is there any limit upto how much amount of such business UPI payments can I accept ?

Sir,

Let me clarify that company given monthly award to employee' s to whom who given creative ideas in production and quality related task.

Seciton 194r is applicable on award given to employee in foll differant catagories-
1) Total Rewards are more than Rs.20000/ to each employee in each month?
2) Total Rewards are more than Rs.20000/- to each employee in 2 to 3 months?
3) Total Rewards in each month is less than Rs.20000/-?
4) Limit of Rs.20000/- is includes awards given to employee in April to June 22?? individual employee and/or in totality??

thanks in advance for prompt reply.

Regards,

I have carried Forward TDS of Rs. 31,000/- in the Assessment Year 2020-2021, but in the Assessment Year 2021-2022 , I did a mistake and forgot to brought forward the same in the ITR, However I have received Income of the Amount of TDS so carried forward in the Assessment Year 2020-2021 in the Assessment year 2022-2023. Can I use the credit so carried forward in 2020-2021, inspite the same being not brought forward in the Assessment Year 2021-2022. Please do help me on the following. Whether I can claim the same? If I cannot claim as per the IT Act, 1961, what will be the repercussions even if I still claim it?