For assessees having income other than Business or Profession for exercise of tax under new regime whether online submission of form 10IE is necessary ?
ANS No
Read more at: https://www.caclubindia.com/experts/form-10ie-rule-21ag-2862324.asp

Please refer to above query
I filled ITR under new tax regime by choosing section 115BAC while filing ITR. I did not filled form 10IE (as answered in above query). However, I received intimation under section 143(1) my claim under section 115 BAC was rejected and income tax was calculated under old tax regime. I am salaried employee with no Business/Professional income. Could you let me know why my return under New tax regime was rejected and what steps should I follow now to rectify it?

I would like guidance in the following issue.

An asset is sold for 12,50,000/- where as its WDV in the Books of Accounts showed a balance of Rs.13,47,000/- thus the balance of the WDV was debited to P&L as "Loss on sale of fixed asset".

What are the necessary disclosures/disallowances in Income computation and Tax audit report.

Thanks in advance.

An Invoice for recurring professional service rendered for January 2022 was raised on 10th February 2022 as mutually agreed between client & professional, the amount post deduction of TDS@10% was received on 15th February 2022.
The professional(P1) now has to pay fees to other professionals(P2) associated with him for providing services to above client and is liable to TDS@10% which is duly made.

What is due date for TDS remittance by P1 in above case,7 February 2022 or 7th March 2022?

Dear Sir,
Two No employees of our concern earning salary INR 25000/- per month , i.e. total salary in F.Y. 2022-23 will be INR 300000/- which is exceeds minimum taxable limit INR 250000/- , but after considering 87A no tax will be payable. Is it required by company to take a self declaration from employees that no TDS will be deduct from their earning for F.Y. 2022-23.
Kindly reply

If assessee is a Temple, having 4th character of PAN as "A" & not registered us 12AA. We are filing ITR 5 & cannot file ITR 7 because for ITR 7, 12AA registration mandatory i think. Our software calculates tax as per slab wise considering its a trust but CPC issues intimation U/s 143(1) & calculates tax @ 30%. CPC calculates @ 30% because, CPC considered it as AOP & for AOP if members share not shown or his other income exceeds maximum amount which is not chargeable to tax then for it tax rate is MMR.
what is the proper way to file ITR.

DEDUCTION U/S 80CCD(2) HAS ALLOWED WITHOUT ADDING NPS EMPLOYERS CONTRIBUTION ? ANY CIRCULAR/NOTIFICATION REGARDING ADDING OF NPS CONTRIBUTION IN INCOME BY EMPLOYEE.

THERE ARE NO CLARIFICATION FOUND IN INCOME TAX ACT


MOREOVER CAN NPS CONTRIBUTION BY EMPLOYEE CAN SPLIT IN 80CCD(1) AND 80CCD(1B)

Mr X holds a GPA of a land which he holds for more than 20 years. He takes a loan from his sister for 5 lacs in 2005 and registers a sale deed in his sister's name in Mar 2019 for 5 lacs. Stamp duty paid is 2.5 lacs. His sister sells the property in Jan 2022 for 47 lacs.
1. Is it a STCG or LTCG?
2. How much tax to be paid by his sister?

Income from renting of plant and machinery other than goods and carriage can be declared under 44ad or not?

Sir, during previous year, I had received brokerages/commission exceeding Rs. 1.00 lac (against various sale of lands sale as attorney).Whether I am liable to maintain account books or may I show the same U/S.44AD ?

plot sold and consideration received in the form of flats. as per section 45(5A); capital gain chargeable to tax in the year in which cc is issued & sale consideration will be SDV of the flats.
I have a query that whether SDV of the same flats can be taken as exemption u/s 54F ??? Plz reply.