Rewards in the form of cashback or credit card points used to pay credit card bills whether taxable income, Kindly advise us.

Hello I run a small business in India. All my clients are in United States. Since they outsource work to me, I have to buy laptops on their behalf. Now these laptops are not assets for me Or my company in India. Given a scenario where they paid me 10 lakhs to buy laptops I know only 40% that is 4 lakhs will be written as depreciation and rest on 6 lakhs will I have to pay 25%(pvt Ltd company) tax on it?

Someone suggested to invoice client for laptop invoice amount and show it as reimbursement.

What is the best way to go about it, and can I do the same for car as well? Claim it as reimbursement and not as an asset.

Dear sir/madam

We have collected the Form 27-C against sale of coal, from manufacturing units. Our TAN was alloted by CIT, Patiala (Punjab). My query is, where is form 27-C to be submiited by Hand or Registered Post.

Kindly tell me complete address of the Authority.

Thanks

We have profit from share trading? Will this profit be treated as business income? What expenses are allowed in share trading profit in Income tax?

We paid Insurance premium of office building on 30/03/22. Basic amount of Insurance was Rs 55000 + 18% GST, which we claimed as ITC in our GST returns FMO March 2022.

Now my query is whether should I transfer the basic amount of insurance to "Prepaid Insurance" and C/f the amount to Next F.Y..?? Will this not create mismatch in Expenses & ITC claimed in both the F.Y.

Please reply.
Thanks in advance

Rajesh Behl

Dear Sir,

One of my client has received notice U/s 148 for Non filing of return for AY 2015-16 for which I am now filing her return in reply to the notice.

My query is apart from filing the return and paying applicable tax and interest do I need to do any other compliance regarding this. Will there be any penalty for return not filed earlier.

Please help me in this matter.

Regards,
Divyesh Jain

Dear Sirs : One of my client was engaged in manufacturing in declared Subsidized Economic Zone in Sidcul Haridwar, Uttrakhand and supplying within India. As per declared Government policy there was no income tax for first five years and so on.... Later on case was also selected for scrutiny and after assessment party paid say Rs. five lakhs. My query is (1) Is MAT under income tax is applicable to this manufacturing unit in this zone (2) Is amount charged by assessing officer after scrutiny will be called MAT or regular Income Tax (3) Is MAT refundable (4) After how many years is it refundable (5) What is procedure to claim refund of MAT.... Regards

How to file tds return of remaining period if the proprietor dies during the financial year and there is no further deduction of tds.

Eg: Death of proprietor in 3rd Quarter and return to be filed is 4th quarter.

Can we revise Income Tax Return for the F.Y 2020-21. The CPC has already processed the return u/s.143(1)

Dear Sir/Mam, we need to make a payment to a Government Company (A Govt of Tamil Nadu undertaking) - Payment is for allotment of land/plot.

Please confirm whether we need to deduct TDS.

Also, please provide law reference as base.

Thank you.