Sanjay
This Query has 2 replies

This Query has 2 replies

31 August 2021 at 14:56

ITR Return Hamali earning

Sir,

One of My friend want file his father Income tax return. his father income source is Hamali in Vegetable Market he get weekly payment of Rs. 4000/- through Cash means totally monthly earning is Rs. 16000/- yearly Rs. 192000/- approximately.
Can i file ITR 1 shows earning shows as salary.

Kindly guide me which itr return applicable to him.

Thanks & Regards.



D K Gupta
This Query has 1 replies

This Query has 1 replies

31 August 2021 at 14:19

Refund credited in wrong account

Filled ITR 1 and entered last degit wrong (2 in place of 3) and after taking note of the mistake submitted revised return immediately. Refund issued on original ITR and credited by same bank branch in other customer's account. After long wait enquired bank regarding credit and gave an application to refund the amount to IT - SBI, Bangluru. Bank only marked a lien in that account. Submitted Refund grievances on eportal and attached file with full particulars but no action taken/ advised by IT Department. Revised ITR1 processing shows only Refund already credited.
Please suggest the course of action and email ID for submitting refund request as toll free number not responding well.


bhuvana
This Query has 3 replies

This Query has 3 replies

Sir,
my father expired at the age of 84 in June 2021. His pension & intetest income is more than 2,50,000/- for FY 2020-21. Should we file IT return for him??


Catherine
This Query has 6 replies

This Query has 6 replies

Dear Sir/Madam,

Kindly clarify my doubt regarding the below query:
Renewal of Registration under 12A for Religious and Charitable institution which forms do we need to fill up in income Tax portal 2.0?
FORM 10A OR FORM 10AB?


uttam
This Query has 3 replies

This Query has 3 replies

31 August 2021 at 11:22

HUF COMPLETE PARTITION

Dear All,
This is to inform that we have made complete partition of our HUF by mutual agreement among the family members and distributed the bank amount among the members. Further the bank account is also closed. There is no other property in the name of HUF.

Now our query is:
1-Whether the registration of partition deed is mandatory or mutual agreement among family members is sufficient. There is no dispute among any members.

2-There is some TDS refund due but since the bank account is closed , what can the solution for this. If we do not claim the refund is this OK.

Waiting for your early advice


Lavanya
This Query has 1 replies

This Query has 1 replies

30 August 2021 at 23:59

Taxation of retainers versus employees

Hello, I work in the legal profession but have no association nor have a very good understanding with finance and taxation laws as that isn't my area of focus.
I have recently started a new job and on discussing my role with the company and their HR, the status quo of my hiring in the company became a topic of contention as I cannot be labelled as an employee but they don't take retainers, which is what most lawyers are labelled as and the higher ups have taken some time to discuss this internally and have told me they'll set a meeting up in a few days where all of us can then finalize on the offer.

If I am hired as a retainer, I don't accrue any employee benefits provided under the labour laws of India and get taxed at the source, making it much more transparent and presumably lesser but if I choose to be an employee, I get all the benefits that come with it along with the taxes that are charged on the various aspects of my income whether they be bonuses or perks and allowances. The income slab that I fall under is 15% of my total income above the lower threshold and an additional Rs. 37500.

No matter how much I try to wiggle around I can't lower my slab with the available deductions so I'm genuinely confused as to what manner of hiring should I go forward with that will net me the most amount with the lowest taxation so I can focus on my savings.

I also don't have any additional sources of income at the moment so the income from my job will be the only amount for consideration. Any help, guidance and suggestions will truly be appreciated and go a long way. Thanks in advance.



Vipul Acharya
This Query has 1 replies

This Query has 1 replies

30 August 2021 at 19:23

TDS u/s 194H Applicability on 194H

Commission Invoices received from Flipkart is TDS u/s 194H applicable on the same or at what amount as the commisson amount as per 26AS is not matching to Invoice received

Kindly guide


Piyush Rupareliya
This Query has 6 replies

This Query has 6 replies

Hi, I had filed ITR for last year where I uploaded Form 16 and believe TAN details for employer was auto populated. However I got intimation 143 for ITR so i checked thoroughly and found that TAN is not correct as per form 16 and Form 26AS. I tried filing rectification request once with mismatch in tax credit but again got demand for those TDS. Can you tell me what can be done? Can we correct TAN with Rectification request? Can we visit IT office if required for it? Please suggest.

Thanks and regards,
Piyush


sachin Alwadhi
This Query has 13 replies

This Query has 13 replies

Kindly guide client having Gst no for commission agent in mandi having turnover Rs 57 lakh for sales and purchases and generating Commission with 5%..In income tax return we need to show the annual turnover 57 lakh or not ? or Just need to show only 5% income and with 5% income which is less than 8% rate .44 AB is applicable or not.Kindly guide properly.


Shashikumar Hp
This Query has 1 replies

This Query has 1 replies

30 August 2021 at 13:22

TDS on Reimbursement of License Fees

Dear Sir,
We have a license and license given to the operator to run. Operator is reimbursing the license fees and also paying the rental amount for the place and equipment installed in the premises. 

Every month we pay license amount to govt to take license, same will be reimbursed by operator, we also remit GST on RCM basis and collecting from operator.
Operator is deducting the TDS on the rental amount.
Please advise license fees reimbursement will attract TDS or Not?
Regards,
Shashi






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