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.

Sir,
It assessee purchase of vacant land rs:1,50,000/- previous f.y.2016-17. assessee this vacant land sale to Mr .B value rs:5,60,000/- dt:10-8-21 in f.y.21-22.but same land purchase from Mr.B value rs:6,40,000/- dt:10-12-21 in f.y.21-22.
Question:
1.Assessess land sales to Mr .B and same land purchase from Mr.B transaction show procedure in books and it returns.
2.capital gains tax applicable.

Hello

Should TDS @1% be deducted u/s 194IA if X is buying an under construction flat from Y for Rs 60 lakhs which possession is an year away . In your opinion, what Y is selling is his rights to acquire a property or the property itself ? The property title still vests with the builder before registry of the flat . Please share your insights.Thanks

Hi Sir,

One of my friend completed B com graduation two years ago having expert knowledge in taxation. He wants to start business to provide taxation services. is there any mandatory qualification to become tax consultant. is there any prohibition/restriction to use the word Tax consultants in name of the proposed business and the word tax consultant beside his name.
Please Suggest