Our company (which is in India) provided a loan to the American subsidiary for a period of three years. The interest we are charging on monthly basis.

For adjusting loss/gain against exchange rate, against interest amount we are making necessary provision against unpaid amount.

The loan period is for 3 years, whether yearly we have to disclose the impact of currency fluctuation on the principal amount in our financials?
Also request to confirm procedure followed against interest income is correct?

on previewing the return after confirming all required schedules, when i preview the return in the general information schedule my first name is followed by my last name, pan, mobile number and email id. all this is displayed in the first name column whereas when i check in my pre filled data and also the information in my login on the income tax login, the details in the general infomation are correct

Dear sir/mam

I am unable to upload the filled in and validated ITR2 in the income tax new portal due to the following reason -

During upload, website indicates - (Maximum exemption under section 10 is Rs 20,00,000/= only). I had a Form 16 issued by my employer, where the exemption under section 10 is 23,29,104/=

THE EXEMPTION figures are also populated in income tax pre-filled data.

ITR2 is getting validated after filling up, but upload is not possible.

Is there any way out?

Thanks & regds
Ardhendu Dan
Contact - 9435120598

Hi,

i am working for a German company and would like to shift back to India permanently while continuing my current job as software engineer in the same company

The employer is willing to make the offer as remote job but is not sure of how to make it work

what is the feasibility of this and what needs to be done from myside.
The company has no presence in India, it has only one office in Germany

Hello All,
One of the Tax payer say Mr. X has taken Home Loan from Bank (i.e. Mr. X is Applicant of the Loan). His spouse say Mrs. Y is Co-Applicant for the same Home Loan.
Now at the time of filing Income Tax Return, for the purpose of claiming benefit of Interest on Home Loan under Income from House Property shall be taken under Mr. X (i.e. Applicant) or her wife Mrs. Y (i.e. Co-Applicant) or shall I be able to claim the Interest on Home Loan in equally half under both the Tax Payers?
How does this fundamental works?
Please Guide!!
Thanks in advance for your response....

Hello, A company Tax Collected at Source u/s 206 CR . reflecting in 26AS of assessee for
A Y 2021-22. Whether learned professionals would like to establish their opinion about this section. Or it was feeded by mistake in 26 A S. With due regards.

For the Financial year 2019-20 Self Assessment Tax of Rs.2600 Was shown in the ITR but I forgot to pay the tax leaving me with a tax liability of Rs.2600 and I received a notice to pay the same. Now While paying the tax will this be treated as self assessment tax or Tax on Regular Assessment. Which type of payment should I choose, As I have already mentioned the amount due in my ITR for that AY should I go for Self Assessment or Tax on Regular Assessment, as there is no new demand from the Assessing Officer.

Thanks for the help in advance.

Sir,

Is ITR1 form available in excel format for AY21-22 IN OFFLINE, If so can you please share the link and tell how to upload the same.

Why as per AS 22 Depreciation same amount one time add and Less in Computing income tax of LLP What is reason behind it , while in the case of company Depreciation as per company act Add and Depreciation as per income tax is made minus.
Please reply.

Respected Sir / Madam

We are a statutory body engaged in training newly registered candidates. In training , we provide books to candidates. Books are prepared by our members and we are liable to pay editing charges to the creditors. Is TDS applicable on such payment if yes under which code, TDS on contract or TDS on professional fees? please guide.