If I paid Rs.60000/- as Health premium during FY 2019-20 for FY 2019-20 and FY 2020-21
(2 years premium paid once) and claimed deduction U/s.80D of 25000/-n during FY 201-20.
May I claim again 25000/- deduction during FY 2020-21 ?

I HAVE PURCHASED LAND ON 24.01.2013. I HAVE CONSTRUCTED ON THE SAME LAND IN F Y 18-19, 19-20 & 20-21. SAME BUILDING SOLD IN F Y 21-22. NOW I REQUEST YOU TO KINDLY SUGGEST HOW TO CALCULATE TAX SUCH AS SHORT TERM CAPITAL GAIN OR LONG TERM CAPITAL GAIN.

Hello,

My husband has recently joined an NBFC finance company as a Consultant. He is an MBA and his services are related to Trade Finance and Business Management Consultancy. He has 25+ years of experience in his field.

I have two questions:-
1. Can his profession be classified as a 'Technical Consultancy' under Sec 44 AA (1)? If yes, is he supposed to maintain books of accounts?
2. Is he allowed to take benefit of 50% Presumptive taxation under Sec 44ADA (Code-16013)?

Regards

HELLO I HAVE FILED MY FIRM,S TDS RETURN LAST QUARTER(Q2) ON NEW INCOME TAX PORTAL.
NOW I WANT TO FILE NIL TDS RETURN HENCE TO DECLARE THE SAME ON NEW INCOME TAX PORTAL BUT THERE IS NO SUCH OPTION AVAILABLE.

WHILE DOING THE NORMAL PROCEDURE THEY ARE ASKING TO FILL CHALLAN DETAILAS WHICH I DONT HAVE AS WE HAVE NOT DEDUCTED ANY TDS..

BESIDES SINCE I HAVE FILED TDS RETURN ON NEW INCOME TAX PORTAL OF LAST QUARTER I HAVE RECEIVED RRR NO AND ACKNOWLEDGEMENT NO AND NO PRN NUMBER HENCE COULD NOT EVEN REGISTER AS NEW USER ON TRACES.

KINDLY GUIDE ME HOW CAN I FILE NIL TDS RETURN FOR Q3

Dear Experts,
I am an electrical work contractor and my turnover is under 1 crore. But, I am deducting TDS on payment to subcontractor. It is my first year of work.
Now, I came to know that whose books are not liable to audit, they are not require to file TDS return.
What if I keep deducting TDS and fill return regularly ?

Please guide

Can a trust carry forward deficiency i.e excess of appl over receipt ?
In fy 20-21 trust has receipt rs 10,00,000 of which application is rs 12,00,000 ? Can this deficiency rs 200000 be carried forward and set off against receipts in fy 21-22 ?

Dear Expert ,

can anyone help me regarding Gift Coupen/Gift Voucher received from employer.

Scenario :

Gift voucher amount is INR 5800/- Taxable only INR 800/- or INR 5800/-.

Please advise. It is bit urgent.

Thank you,
Gorksh Pawar

Hi Everyone,
How much expenses in % terms of gross receipts can be claimed on income earned in the form of brokerage by an insurance(non-life) / mutual fund advisor(free lancer) for FY 21-22 ? If possible, please refer relevant section of the Act as supporting.

Thanks
Rajesh Jain

Sir we are a distributor and our turnover exceed 11 cr. previous year. we have two supplier whose turnover also above 10 cr. & our every year transaction is almost 2 cr. So, my question is do we need to deduct tds u/s 94q from 1st April on every bill or we need to wait to cross the exemption limit i.e. 50 lacs.

Sir,
It assessee sales of apartment value rs:35 lacs in f.y.20-21.
Brokerage paid rs:5 lacs
Mortgage loan interest paid to bank rs:8 lacs
Question:
Brokerage pay amount and mortgage loan interest paid amount deducted sales of apartment value claim allowed in it act.