Respected Sir,

Q-4 Fy 2019-20 the TDS Challan Amount was Rs 10,000 out of which 9,000
has been credited to the deductees but the balance amount as of Rs
1,000 has mistakenly been shown in the column of “ OTHER “ . Can we
make online correction by making zero in the column of “ OTHER so that
there should arrive balance amount of Rs 1,000 against the challan for
using in future

Hi,
We purchased a property from an NRI. He had applied for a lower TDS certificate - which he received on 29 Sept (with rate of 0.01%). The certificate reads that it is applicable for all the transactions from 29 Sept 2021 to 31 March 2022. We had made a payment to them in August as well as on 15 September 2021. Should the TDS be deducted at 0.01% or the applicable TDS rate.

Dear Experts.
I am looking to buy a house and register it for 57 lacs, I am contributing 7lacs and Bank is funding 50 lacs.
I would like to add My mother as co-buyer , though she has no income and not contributing to the purchase.
All the Payments have been done from my account , except for 1 lacs Cash payment.

1. Do I need to fill 2 Form 26Q in this case for the 1% TDS for my PAN and mother's PAN
2. Can I deposit the TDS amount 100 % from my PAN number and seller PAN number alone.
3. Would this create any compliance issue for my Mother as she would mention her PAN number too in the Sale deed.
Kindly advise at the earliest..

Sir I want to know in case of a party who was covered under TDS Provision of Section 194Q, I have purchased goods for resale and also purchase for own use (such as expense or asset). Whether TDS Under section 194Q applicable for both the transaction or only to the purchase transaction.

Dear Sir,

A person has sold his old property which was in his name and against that he has purchased a new property where his wife is the first owner and he is the second owner of the new property.

In the old property which was sold his wife's name is not there as the owner and the entire tds was paid in his wife's PAN while purchasing the new property.

Can the person claim exemption on capital gain from sale of property when he has purchased new property while filing his return.

Please help me in this matter.

Regards,
Divyesh Jain

Facts of case:

In case of a company, on 14.03.2014 an assessment was completed u/s 143(3) and some additions were made u/s 68 in respect of unsecured loans. An appeal was preferred before CIT(A). In the meantime a search u/s 132 was carried out in the residence of a director and consequently notice u/s 153C was issued to the company and assessment was completed on 16.12.2016 in which the same addition was made stating that to keep the matter alive without there being any new material or facts. An appeal against the order u/s 153C was also preferred before CIT (A). The CIT (A) , on 17.8.2019.decided the appeal against the original order u/s 143(3) dated 14.03.2014 and deleted the addition. Based on the appellate order, effect was given by the AO on 27.09.2019, and he deleted the demand raised vide assessment order passed u/s 153C. Later the CIT(A) on 26.08.2021 dismissed the appeal filed against assessment order dated 16.12.2016 passed u/s 153C.

My queries are as follows:

1. Whether the original assessment u/s 143(3) become nullity after the fresh assessment passed u/s 153C ?

2. Whether the effect to appellate order dated 17.08.2019 given by AO was proper or there was a mistake on his part.

3. What action would be taken by AO on the appellate order dated 26.08.2021 and whether the demand which was cancelled earlier would again get revived?

Kindly advise. Thanks

A family comprising of Husband (SK), Wife (N) and a minor son (S) was assessed to tax as a Hindu Undivided Family( SK HUF). The husband expired and the HUF continued with the wife as manager as the son was still minor. The minor had his own income also which was being clubbed with his father and after the death of father the income was clubbed with his mother.
The wife(N) got remarried to a divorcee (Y) who is having 2 daughters from his previous marriage.
S, the minor son of the deceased SK and N is now not having any parent as the father (SK) expired and mother(N) got remarried. Therefore S is now residing with his Grand Parents. The Grand Parents have their HUF in which S is a coparcener.
Now after the remarriage the family comprises of Y, N and two minor daughters as Y HUF.
The queries are:
What will be the status of SK HUF after N got remarried and S is still minor ? Who will manage the affairs of the SK HUF ? Whether SK HUF would get merged with HUF of Grand Father ? What would be the status of assets of SK HUF during the minority of S and after the S becomes major and after S marries ?
Income of Minor S would be clubbed with whose income

Assessee
deals in Bank Nifty F & O Business - sales Rs.1,49,843/- and purchases Rs.1,65,811/- Loss Rs.15,968/-
He also deals in Commodity (same day square off) - sales Rs.3,34,43,668/- and purchase Rs.3,40,49,689/- Loss Rs.6,06,021/-
Total from both activity sales Rs.3,35,93,511/- and purchases Rs.3,42,15,500/- Loss Rs.6,21,989/-

My questions are whether both above activities can be shown as business - Trading in F & O and
whether Tax Audit report is required ?

We are liable to deduct TDS at higher rate (whether 5% or double the rate) for Specified persons who have not furnished 2 years IT return / having TDS more than 50000. My doubt is whether we have to deduct at higher rate for the payments made in April,May and June 2021 as the 206AB section came into effect by July 1st only. Example, I have a consultant whose TDS WE DEDUCTED @ 10?% FOR April may and June payments whereas he didn't furnish 2 years IT in July. So, in July shall I have to deduct 10% (TDS balance )of payments given in April and May and TDS of July 20%?

The assessee firm entered into a contract with a qualified architect to provide services for a particular project to provide services of drawing and designing of houses, interior designing, structural designing etc. for a period of three years. As per the contract, payment is to be made stage wise. TDS is required to be made from payments. Please advise whether s. 194C would apply or s. 194J would be applicable. If s.194 J is applicable, can it be considered to be a technical service and TDS rate of 2% would be applicable.