Hi all, one of my client has business asset of Building as Fixed asset in books of accounts. and he is now wanted to renting to the other person by taking interest free loan from the tenant. and no rent is charging from him and interest will not be paid on loan.

So what is the treatment of such interest free loan against rent receivable in the books of accounts and as per income tax act.

Dear sir;
we get a notice us 148 for AY 15-16 to file return but in eproceeding tab there is no option to file return in response to notice but only give option to attach documents & explaination.
How to file return us 148 in such a case ???

In B/S of Prop. some amount of creditors was unclaimed for many years. and the same was added to capital account of prop. What will be effect on assessment in incometax. Can ITO charge tax. and further consequences,? Opinion sought

Hello Members,

While filing IT Return for the AY 2020-21 (Financial Year 2019-20), TDS amount was not claimed at the time of filing of return. This was realized later on by when the revised return deadline had also passed. Despite raising repeated query on the Income Tax Portal there is no positive response received from them.
Could you please help what are ways in which we can claim the refund of the TDS amount which was missed at time of filing of return.
Also can we go to Ombudsman in this case as the replies coming from the IT Query portal are not guiding to next steps of actions to be taken.
Thanks
Gaurav Jhanwar

Respected Sir,

As per the CBDT ruling linking of Aadhar with PAN will attract a penalty of a sum of Rs 500 from 1st April, 2022 on account of penalty of late linking. Even today a majority of the people is not aware of the fact and therefore Adhar could not be linked with PAN just because of the unawareness. As such it is not fair on the part of the Government that even a poor class person should pay Rs 500 on account of late linking. I would like to know whether nobody has disagreed on this issue

Dear Sir,
Please provide income tax calculator FY2022-23 for salaried.

IS THE INCOME RECEIVED BY MERCHANT NAVY EMPLOYEE TAXABLE IN INDIA WHO IS
1. OUT SIDE INDIA FOR MORE THAN 182 DAYS
2.WORKED IN INDIAN COMPANY IN FOREIGN COUNTRIES (WHILE ON SHIP)
3.RECEIVED INCOME IN NORMAL SB ACCOUNT.

FOR FY 2017-18 THE PERSON HAS RECEIVED INCOME OF RS.18 LAKHS AND TDS THEREON 1.85 LAKHS DEDUCTED U/S 194J.

KINDLY PROVIDE THE TAXBILITY EFFECT OF HIS INCOME.

The assessee had deposited Old Bank notes of around Rs. 17 lacs + new notes of 5 lacs total being 22 lacs. As on 8.11.16, assessee had a cash in hand balance of around Rs. 17 Lacs in his account and the remaining amount in new notes was deposited from the cash sales during the demonetization period on three different dates in parts. This fact was duly disclosed in the ITR of the A.Y. 17 - 18 however, still, a scrutiny notice u/s 148 was issued to the assessee. The assessee informed this fact to the AO but he still refused to accept assessee's plea and raised a demand to the tune of Rs. 29 lacs against the assessee. What should we do to stop the proceedings and cancel the demand.

RESPECTED SIR,
I have filed itr 2 for AY 21-22. iT WAS ASSESSED, asper my figures , recd a intimation . I had paid excess 30000 Rs, & recd an intimation of return. The account nominated is active - though ( it was a current account - single proprietor ) Recd an intimation form IT, that PAN is not attached to this AC. - It is there for 20 yrs & earlier also recd in this ac only . I tried to renew the same account through their portal. It always shows -past 1 month -under process. Where as my saving account - Iwas shown in IT form also - but not nominated - for refund- gets renewed. I had put a grevience - no use. What shall I do . Pl help. Thanking you

vijayakumar

ETDS RPU 4.0 RELEASED BY NSDL IS NOT VALIDATING THE ETDS FILE CORRECTIONS. FVU FILE IS GENERATED IN THE PATH BUT NOT FORM 27A. VALIDATE SUCCESSFULLY MESSAGE ALSO NOT COMING.