Sir
Can you kindly clarify whether the company engaged in stock broking services required to file form 61A for reporting of sale and purchase of securities. Will it come under reporting entity to file the same? Kindly clarify.

Those who have 80G (10AC) certificate can take the donation and donor will get the exemption u/s 80G. What donee has to do? Has he needs to file any return with donors details?

Dear Sir,
Very recently I am facing a problem while I want to register my sister-in-law as an individual tax payer in the e-filing portal of the Income Tax Department. The pin-code in the contact details page of the portal can't be typed in the space provided for. I cleared all the cache memory and the cookies, cleared browsing history and then tried number of times in google chrome incognito to register my sister-in-law as an individual tax payer. But, Sir, I can not type pin-code in the provided space in the contact details page of the e-filing portal of the ITD and therefore I can not register her as a tax payer.
I seek solution to this problem from you. Please help me to find a way out.
With thanks and best regards,
Kamalesh Guha

Dear Sir,

We procure some material and accounting for the same were made accordingly. After proper accounting we receive two credit note. One for short supply of material and 2nd one for discount on supply of material.
My query is that whether we will deduct TDS U/s 194Q on base value of Tax Invoice or base value after adjusting credit note.

Thanks in advance.

Hello,

If I buy a bond at a premium - 1100 (50- premium, 50- Accrued interest, FV-1000)
@15% coupon rate

At extinguishment/ maturity I get 1000 back with 150 Rs interest

Do I report 50 rs (1050-1000)as capital loss and 100Rs as interest income(150 received -50 accrued when I purchased)

OR

Do I report 100 Rs (1100-1000) as capital loss and 150 Rs as Interest income.

Thanks

Respected Sir,

Please let me know the due dates for the following compliance

TDS payment of March 2022 till what date can we pay ?
TDS Return filing for the quarter Jan 2022 to March 2022 till what date can we file ?
GSTR-1 for the month of March 2022
GSTR-1 for the Quarter Jan 22 to March 22
GSTR-3-B for the month of March 2022
GSTR-3-B for the Quarter Jan 22 to March 22

Please guide me and oblige.

Dear Sir, I heard from someone that we cannot write the name of a Private Limited company in short Pvt. Ltd., Is it forbidden in income tax?? Thanks in advance

Dear Sir / Madam,

What to do if the dividend income is remained to be disclosed inadvertently in ITR of AY 2021-22 and now the due date of revised return is also over?? The TDS is claimed while filing the return and now this mistake is discovered now. The return is yet to be processed by the dept.

Kindly suggest the solution.

Thanks & Regards,
Suraj

A. Background: -

i. We have two buyers and one seller combination for filling form 26QB for the purchase of under construction Immovable property worth more than 50 Lakhs.

In the cost sheet provided by the builder there are two parts as follows-
a. Property Value including Car Parking amounting to 52 Lakh
b. Extra Charges including Club membership Charges, Maintenance charges etc. amounting to 3 Lakh

ii. 1st buyer had made the initial booking with the initial token application money (1 Lakh) and have provided form 16B to the deductee for the tax deducted u/s 194IA, however the property value reported in filling form 26QB is 52 Lakhs and enabling the option 'YES' for Whether more than one Transferee/Buyer and Payment Type as 'Installment'.

iii. Payment towards next installments will be made partly from own bank account (as down payments) and partly from bank (as loans) by both the buyers according to their individual ability to make payment.

iv. TDS will be deducted on each payment by the person making payment towards the installment and form 26QB shall be filled accordingly.

B. Query: -

1. What will be the property value in 26QB? (52Lakh or 55Lakh)
2. What would be the amount on which TDS would be deductible? (52Lakh or 55Lakh)
3. Whether the property value reported (52Lakh) while filling form 26QB (as discussed above in point A.ii) for the initial tax deducted on application money by the 1st buyer was correct or it needed to be shown proportionately between the two buyers?
4. What will the 2nd buyer show as property value while filling form 26QB when he will make subsequent payment towards the installment? - (52Lakh or 55Lakh / proportionately)

Dear Sir,
I would like to have clarification about Rent payable for the use of premises by husband. The premises which is in the name of mother & wife was used by husband and has been paying Rent in proportion of share of property to both wife and mother

Now in last year wife expired and the share of wife in property was transferred to husband by virtue of probate obtained in the month of March 2022

In every year March, Husband pays rent to both wife and mother for the entire year but considering the above scenario, whether the rent is payable?

I have doubt because probate order came in the month of March 2022 wherein wife was expired in the month April 2021.

Do entries to be passed in accordance with probate and No Income Tax return be filed in case of wife ?
or Income Tax return be filed for last time wherein husband will be representative Assessee ?

Please help

Regards

Tribhuvan