Invoice is dated of June but we are making payment in July.
Seller had filed TCS returns for those invoices.
Now, should we pay for the same invoice on Taxable amount or should we get revised invoice from the seller?

I am having income from other sources as individual this year. earlier years I used to file ITR 4 for having income from profession earlier years. This year I do not have any profession & i am having agriculture income more than 5000/- .now my problem is that I have to file which ITR form for AY 21-22.

Dividend Rs. 213321.67 and tax deducted u/s 194K Rs. 15999.00. How to workout dividend received and how to show it in QLY breakup? I did Rs. 213321.67- 42664.00 ( u/s 57(i) 20%)= Rs. 170657.67 = Rs.170658.00 and Qly break up given 15/6= 20480.00, 15/9= 80431.00, 15/12= 69747.00 = Rs. 170658.00. But unable to upload return because errors message comes. I do not know what is DTAA dividend. Kindly help me by way of providing your direction to over come errors. Regards.

Hello experts, please advise me on following.
My NRI friend wants to gift approximately 35 Lacs to his mother resides in India via registered gift deed and his mother will invest this money in bonds / debentures etc. Than how taxation will be imposed on both transactions ? ( on gift and on interest or maturity benefits on bond etc )

Hello Friends,

For a client, for whom I have been filing tax returns for more than a decade without any issue, the Date of Birth is wrong (by one day) in new Income Tax portal and there seems to be no way to edit it either on the portal or in the ITR. Please guide how to resolve. Thanks.

“A company will be treated as an NBFC if its financial assets are more than 50 per cent of its total assets (netted off by intangible assets) and income from financial assets should be more than 50 percent of the gross income. Both these tests are required to be satisfied as the determinant factor for principal business of a company.”

Would like to know if income from F&O trading without pledge of any securities is considered as income from financial assets as per the above rule?

I understand schedule112A of ITR-2 is required for shares/units bought before 1-2-2018 and requiring grandfathering.
Where to enter LTCG on equity shares/units bought after 1-2-2018 in ITR-2 AY 2021-22 ?

Dear Sir,

A company is registered with PF and ESIC in Maharashtra. For the month of June 2021, the company will not be able to make the PF and ESIC payment through challan within the due date i.e. 15th July 2021.

I want to know will the PF and ESIC expense will be disallowed for June month as per Income tax Act since payment was not made within due date.

Please suggest.

Regards,
Divyesh Jain

Sir,
Two it assess brothers
1st person house property exchange to 2nd person transferred
2nd person house property exchange to 1st person transferred
Question:
1.Two assess exchange of properties capital gains tax applicable in it act
2 above transactions treated in both assess books.

The finance minister has introduced the TCS on FX remitttances under LRS and advised all the FX dealers to act and deduct 7% beyond Rs.7 lacs.

In this connection kindly clarify whether if the sale proceeds of a property is duly accounted and filed ITR thus claiming Capital Loss on the property sold. Subsequently if the proceeds are to remitted will attract TCS as there are no tax dues and any liability to the government.

Here the amount to be remittted is tax free amount.