I am business man and I have partner of 2 business and director of a company. I have received partners salary and directors salary. My yearly income was approximately 25 lakh. Now I think that , have forming a partnership firm with my family member and issue taxable invoices to these entity as professional business consultant. In this situation can I opt 44ADA for my partnership.

In FY 2020-21 an individual who is director in a private company receiving salary from company @Rs.20 lacs per month totalling to Rs.2.40 crores on which TDS has been made by the company as per provisions of section 192. The individual is also partner is a firm from where he received Remuneration of Rs.48 lacs, Interest Rs.35 lacs and share of profit from firm64 lacs. The individual has taken unsecured loans from parties , NBFCs and invested the same in the firm as capital of partner,
He has to pay interest on unsecured loans for FY 2021-22. Please advise as to his liability to make TDS u/s 194A . Thanks

I had 100 shares of GTPHATHWAY in DEMAT on 06 Jan 2021
I sold 100 shares allocating from DEMAT on 14 Jan 2021 at 09:30 AM
I bought 30 new GTPHATHWAY shares on 14 Jan 2021 at 11:25 AM
My query is that
Is 100 shares purchased on 4 jan 2021 will be debited from DEMAT
or
70 shares purchased on 6 Jan 2021 and 30 shares purchased on 14 Jan 2021.
Is this will have speculative income in capital gain statement.?

Any rule/guideline may be shared.

Hello

Property purchased in 1990
Went under redevelopment in Jan 2022
Assuming we will receive the OC in 2024

Case no. 1- In the year 2021-22 – No capital gain tax
Case no. 2 - In the year 2024-25 – again no capital gain tax as redeveloped property is received within 3 years.
Case no. 3 - So now only capital gain will be taxable in the year in which the redeveloped property is sold.
In case no. 3- Cost of Acquisition will be indexed cost of purchase taking base year as 2001 till 2022.

Am I right?

1. A person owns a two bedroom flat in a co.op society.
2. The conveyance deed has been executed. Hence the land ownership is with the Society.
3. A builder approached the Society and offered 30 % additional area to each existing flat owner, if the Society enters into a Development agreement.
4. In addition, the builder offered Solar panel system, battery back up for the lift, rent for alternative accommodation, and shifting charges.
4. There was no offer for any other monetary compensation, except where a flat owner opts for not availing 30 % area offered by the builder.
5. In such cases, will the provisions of Sec.45(5 A) apply attracting capital gains for any flat owner,either opting for additional 30 % or accepting compensation for NOT availing 30 %.
Your views are solicitated, preferably with decisions of Court.

Hi

Can anyone help me with the following queries?
1. Flat purchased on 1.5.1990 went into redevelopment in Jan 2022.

Will there be any Capital gain arising in the F.Y 2021-2022 where the flat was surrendered to the builder?

TIA

Dear sir/Madam,
I have one doubt regarding NPS Contribution by Employer.
In our company March'22 month salary's liability paid in Apr'22 month (Eg; Apr 5Th) . salary's will be credited to employees after deducting statutory liability's like PF, ESI, PT, TDS etc. At the time of computation of TDS on salary's NPS U/s 80CCD(2) will be considered sub to 10% of basic and deducted NPS will be paid to PRAN accounts also in April month. Here my doubt is whether deduction u/s 80CCD(2) is considered or not because NPS amount paid to PRAN account by employer is in the month of Apr'22 instead of Mar'22. Is There any time limit for the Employer to Contribute NPS to Employees PRAN accounts.


Thanks in advance,
Regards,
Bheema Reddy.

dear sir,
my self from vizag AP working in PSU as DGM. i am regular taxpayer.
IN AY 2017-18 i submitted return online for my colleague who is on sick bed.
I had given my phone number instead of his phone no and submitted return for AY 2017-18. Later on my friend DEAD and no source of income for him, my friends family left vizag and their where abouts are not known.AS i had given my phone no i am getting alerts from IT DEPT to submit returns and update aadhar etc. please clarify me

when coal sale to production unit, we will be not applying tcs on gst bill [tcs 1% on coal exempt mfg unit] we take FORM 27C From Production unit so where we can see on FORM 27EQ
(on 27EQ RETURN any column show not collecting TCS Summary)

Please replay hope early as possible
Thanks & Regards
Sirji

One godown was hired by our office on 1st April 2021 and paying monthly rent of Rs.30,000/-. 6(Six) brothers are owners of the Godown. 5 Brothers have given power of attorney to one brother for signing of the agreement and looks after the godown. Only One brother is receiving monthly godown rent in his bank account.

So, Annual Godown Rent is Rs.3,60,000/-

My question is that can we deduct TDS as per 194I i.e. 10% from the Godown Rent. One brother is receiving payments for income of six brothers