Daya
This Query has 4 replies

This Query has 4 replies

18 January 2022 at 13:23

TDS required to Deduct on Payment Made

whether TDS is required to Deduct on Payment to Jammu Industrial Club. Rs, 45K and 24K in Two installments, whether TDS to be deducted , if Deducted then we have to deduct TDS on Rs, 69K. and under which section TDS to be deducted.


Adi Sha
This Query has 4 replies

This Query has 4 replies

18 January 2022 at 13:05

Capital gain tax on unutilized account

I recently sold a property and made a 1CR capital gains. I utilized 50L of it by buying a government bonds.

The remaining 50L I plan to put in capital gains saving account.

My question is how much tax will I need to pay if I could not utilize this money (within 2 years of selling old property) on purchasing new property?


Piyush
This Query has 1 replies

This Query has 1 replies

Date of allotment (booking) 31.07.2013
Date of agreement 31.3.2021
Agreement value -Rs 8.9Cr

Tds applicable on Rs 3.5 cr (payments which are made after tds on property applicable)
O/s payable due to dispute till date is 50L

How to make payment of tds on Rs 3.5 crore now and in which financial year and how to calculate interest if applicable ?


Deepa
This Query has 1 replies

This Query has 1 replies

Interest on Home Loan deductions are available u/s 24 for residential house property and
Principal on home loan can deducted u/s 80C for residential house property.

1. Is Interest on Home Loan u/s 24 and Principal on home loan u/s 80C are available for purchase of land ? (vacant land, on which construction would be done after few years and which is not used for agricultural purposes).

2. Is Interest on Home Loan u/s 24 and Principal on home loan u/s 80C are available for purchase of land which is used for agricultural purposes.


janak kumar singhal
This Query has 1 replies

This Query has 1 replies

17 January 2022 at 16:32

Property purchase through cash

Sir
My friend had purchased a property with cash rs 1,90,000 in f.y. 2019-20, DLC value of the property rs 2,30,000.
In income tax act, what is tax implications of such transaction?
Please guide


Sakshi Katara
This Query has 1 replies

This Query has 1 replies

A private limited company making a payment to AWS for various services like storage, data transfer etc. If AWS does not have Permanent Establishment in india then whether the company need to deduct TDS on such payment ? And if AWS has permanent establishment in india then TDS to be deducted in which section.
Please suggest.


Husseini
This Query has 3 replies

This Query has 3 replies

17 January 2022 at 14:34

TDS on Rent applicable

The Assessee is holding Proprietorship company, till F.Y.2020-21 income tax audit is not applicable, In F.Y.2021-22 Annual Turnover will be above Rs. 1 Cr.

we are paying rent Rs.38000/-p.m to landlord. I would like to know whether TDS on rent should we deduct 10% TDS from the first month of financial year or after crossing the limit of exemption of Rs240000/-.


P VIJAYAKUMAR
This Query has 1 replies

This Query has 1 replies

17 January 2022 at 10:48

Corpus Donation

whether a Trust Can get Corpus Doantion from the Donor with the condition that the corpus donation amount is kept in a seperate account and the same may be used to lend loan to the Self help groups with nominal interest?

Now amended provsion say corpurs donation needs to be invested as specified in 11(5)?


Mohan Kale
This Query has 7 replies

This Query has 7 replies

Mr.X's mother passed away in June 2020.  His mother had her share in her father's property which is received by Mr.X by cheque after her death.  What would be the tax treatment, when and how it will become taxable in the hands of Mr.X?


Ishpreet Singh Chadha
This Query has 1 replies

This Query has 1 replies

Death of Assesse.
Is it mandatory to immediately shut all their accounts ?
Can we file ITR from their IT Portal in the following year ?
Is there a timeline to apply as a LR of the deceased or we can let TDS be received in the account ?






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