Could you please confirm where to reflect income received from Car lease & tDS deducted under section 194IA, if I treat it as a Business income then what will be the nature of business code

For entering the capital gain/loss on redemption of Debt Mutual Funds there is no separate line item. We have to enter it under 'Sale of assets other than listed above'. Under Consideration we will put the redemption value. For the cost of purchase we have to put under Deductions under sec 48.
Section 48 is only for NRIs. What should Residents do?

Dear sir,
I need advise on following transaction under income tax act.
We are asking our employee to buy computer or laptop at their own cost. it is not fixed assets of the company.
company is paying around 2000 pm as reimbursement of expenses towards maintenance of the same for 4 year.
whether it is allowable deduction for company or it should be added to employee salary.

I have redeemed by Credit card rewards points in FY 20-21 and the same has been adjusted against my credit card outstanding. I want to know whether amount redeemed will be considered income under Income from Other Sources and will be taxed accordingly?

What if instead of encashing I redeemed the reward point for some product (like phone, and other items as per their product catalogue).

Every thing will be used for personal use only.

Please advice

I received an arrears in FY 2020-21...My question is where to consider the amount of arrears received for FY 2020-21 for calculation of relief u/s 89 of Income Tax in FORM-10E...Means in FY 2020-21 or in previous financial year...because there is not any option to give details of arrears received for current financial year in FORM-10E...Please guide...

I am filing ITR 2 for FY 21-22. While computing Tax Liability it is calculating Interest U/s 234A, but the section says as "Under section 234A, interest is levied for delay in filing the return of income" other sections 234B & 234C is not applicable to me. As now the due dates are extended how come it calculates the interest.
Can any one explain how the interest is calculated. The calculation shows as interest for two months i.e. August and September 21. I will be filing my return before 30th September.

Can any one assist me in above.
Thanks a lot.

Dear Sir,

I am filing ITR-3 of a person who is a Director in a Pvt. Ltd. company which is unlisted and earns more than Rs. 50 lacs as Salary income from the company.

My query is that apart from Director details which is to be filled in ITR is it mandatory to fill the shareholder details also like number of shares held in that company, amount of shares, etc.

Please help resolve my query.

Regards,
Divyesh Jain

n Schedule part B TI, Sl. No. 11 ' Income chargeable to tax at special rate under section 111A, 112, 112A etc. included in 10' is not equal to sum of the incomes taxed at special rates in Schedule SI.Hence amount at Sl. No. 11 of PartB-TI is recomputed by adopting the amount mentioned in schedule SI.

Facts : If assessee has 3 house property, out of which 2 are let out and 1 is self occupied. he gets rent for entire 12 months, no vacancy is there.

Question : Can assessee treat two houses as self occupied even though he gets rent for two house property?

Hi,

I have a query. I have been employed in India from Mar 21 to 15 Nov 21 with my physical presence for all these days in India. From 15 Nov 21 onward I will moving to UAE as I have received an offer of employment from a company based totally in UAE. I am going to get salary in my UAE local account in local currency paid by a local employer from 15 Nov 21 to 31st March 2022 and so on for next coming years. In this Indian Financial year, I have been present in India for more than 182 days in India and I have a Indian income as well from my employment in India which will end on 15th Nov 21.

Now as I shift to UAE and will earn local salary there, I want to know what will be Indian tax implications for the salaried income earned in UAE. Note, UAE is a no tax country but has Double Taxation Avoidance Agreements with India.

I know that my Indian salary will be taxable as per Indian IT rules. But will there be any taxation on my UAE salary for this Financial year in India (01 Apr 21 to 31 Mar 22).

Note: Financial year in UAE is from 1 Jan to 31 Jan. I am going there to stay for next 1-2 years which means for UAE financial year (1 jan 2022 to 31 Dec 2022) I will receive my resident tax certification after spending 6 months (If I go on 16th Nov then will complete 6 moths on 15th May) in total in UAE.