Sir,

I have an invoice which were liable to be taxed under section 194JB@2%. But at the time of Payment of Challan under section 281, only section 194J was available for selection. Confirm how this payment can done.

GREETINGS !!

I WANT TO UNDERSTAND HOW I CAN TAKE BENEIT SECTION 24 OR 24A OR HOUSE PROPERTY OR HOME LOAN .. THE SCENARIO IS AS FOLLOWS ..

I HAVE AN APARTMENT IN MAHARASHTRA ( NO HOME LOAN ) OCCUPIED BY PARENTS WHICH I THINK CAN BE CONSIDERED AS BOUGHT LET OUT OR DEEMED LET OUT .. I BOUGHT AN APARTMENT UNDER CONSTRUCTION IN KARNATAKA IN JAN 2016 WITH A HOME LOAN .. HOME LOAN WAS ALSO TAKEN IN JAN 2016 .. THE APARTMENT IS STILL UNDER CONSTRUCTION .. KINDLY LET ME KNOW HOW I CAN TAKE THE DEDUCTION BENEFIT FOR THE SAME .. ALSO I NEVER TOOK THIS BENEFIT IF ANY SINCE 2016 .. CAN I AVAIL THAT BENEFIT BY REFILING MY IT RETURNS FROM 2016 ...

KINDLY GUIDE

Hi Everyone
A client has taken a collection center of Pathkind Labs who provide pathology services. Collection center take blood samples and send it to testing lab of the company, it has employed a DMLT person for the same. Collection centers pays advance amount to Pathkind which reflects in virtual account of collection center in company's billing system. For every test entered only cost of the test is debited from virtual account. Collection center charges MRP of the test from customers. In 26AS the company shows MRP-COST as amount paid to the center and charges TDS on the same. TDS is recovered from virtual account every month.
Please help me with following queries.
1. Will income be considered in' the nature of commission or brokerage" hence it will be disqualified as business in Sec 44AD?
2. If yes then can the owner of collection center be considered as professional ( He doesn't have any professional qualification) in medical field and can file ITR in Sec 44ADA?
3. If No can the owner file ITR in presumptive income under Sec 44AD?
4. What should be the revenue for center amount MRP or MRP-cost?

I have searched this topic in forum and views of experts are contradictory.

Warm Regards


Kuldeep Saraswat

Managing Partner

Fortune Finance

www.fortune-finance.in

Email: kuldeep.fortune@gmail.com; kuldeep@fortune-finance.in

Mobile: +91-9899 55 0355

I have purchase HRMS software for office use and in that invoice they have mentioned license software under SAC 997331 ("LICENSING SERVICES FOR THE RIGHT TO USE COMPUTER SOFTWARE AND DATABASES" shown by searching the SAC code). I want to know the TDS applicability on the same. Whether I have to deduct TDS under section 194J or 194JB?

I AM EMPLOYEE OF RELIANCE INDIA. BUT I HAVE BEEN WORKING ON A PROJECT IN USA. SO WILL MY INCOME EARNED IN USA BE BROUGHT UNDER SECTION 9 AND MADE TAXABLE OR BY ANY OTHER PROVISON

I file 26QB electronically but payment not made due to server problem but acknowledgement generated after that I again filed same TDS return with same data and payment made online and different acknowledgement generated but I received demand u/s 234 E for both acknowledgement I paid second demand so how should I cancel first Acknowledgement no.

Sir,
one of our client has entered into an agreement in the year F/y 20218-19 for a consideration of Rs 1.9 Crores and have handed over the possession to the party. In the ITR For A/y 2019-20 we have shown it in ITR and paid the due tax on it. Now in The F/y 2021-22 the registry of property is being done and the DLC rate is coming at Rs 2.08 Crores. My Query is
1. Can we take the benefit of (i) and (ii) Provision to Sec 50C but the there is no change in DLC Rate
2. Can we take the benefit of (iii) Proviso the Sec 50C.

I CAN NOT FILE PREVIOUS YEAR RETURN THROUGH Sec 119(2)(B). IS THAT PROBLEM WITH INCOME TAX PORTAL? IF IT MEANS, WHEN IT WILL BE CLEARED?
PLEASE GUIDE ME

sir
can premium paid in wifes name in sbi life insurance policy be considered as savings for husband u/s 80c since wife is not employed.

Dear All,

Is there an option NOT to avail benefit of indexation while compuating tax on LTCG from redemption of units of debt mutual fund? The assessee is a resident individual.

The LTCG on sale of debt fund units is coming to Rs. 1,00,000/- (without indexation) and Rs. 70,000 (with indexation) for A. Y. 2021-22. If we calculate tax @ 10% on LTCG (without indexation) , the assesseee has to pay only Rs. 10,000/- but with the benefit of indexation, the tax rate is 20% so tax payable is Rs. 14,000/-.

So can the assessee offer to tax Rs. 1,00,000/- as LTCG (without claiming benefit of indexation ) and pay tax @ 10% on such LTCG.

Also, Under which sub-schedule & point of Capital Gains Schedule can we show such LTCG in the ITR Utility for filing return?

"Point 9 - From sale of assets where B1 to B8 above are not applicable" only has "Cost of acquisition with indexation" column.

Please advise.

Thanks.