dear sir, tds on purchase is applicable from 1.7.2021 if seller charge tcs still i have to pay tds?

In FY 20-21 a vendor collected TCS u/s 206C(1H) from me because sales exceeded Rs 50 Lacs. Suppose from 1.10.2020 to 31.3.2021 total sales from that vendor to me is Rs 120 lacs, hence he collected tcs @ 0.1% on 70 lacs (ie over 50 lacs) u/s 206C(1H). Now in FY 2021-22 in the month of April he sales goods amounting to Rs 10 lacs to me but he collected TCS u/s 206C(1H) on the 10 lacs itself, ie 50 lacs limit not exceeded but still he collected TCS u/s 206C(1H) on the 10 lacs. Whether my vendor is right on collecting TCS on 10 lacs or he has to not collect till 50 lacs and thereafter he can collect TCS on sales over 50 lacs.
Please resolve my query.

Hi,
I had short term capital loss (equity investments) in FY2019 and showed it in ITR-2 in AY2019-2020. In FY2020, I had only salary income and no capital gain or loss , so I filed only ITR-1 and forgot to mention the previous year capital loss carry forward in FY2020/AY2020-2021 ITR filing. Can I carry forward the missed short term capital loss again in this year ITR-2 (FY2021, AY2021-2022) ?

Thanks
Mani

DEAR SIR,

ITR FORMS FOR ASS YEAR 2021-22 IS NOTIFIED OR NOT NEW WEBSITE OF INCOME TAX PORTAL NOT CORRECTLY ACCESSED PLEASE GUIDE ME

REGARDS

It assess some money amount and some shares gift to below mentioned persons.
1.some money and some shares gift to wife
2 some money and some shares gift to son in law.
3.some money and some shares gift to own brother.
Question:
It assess above mentioned gift transactions taxable or exempted in it act

Mr A is leaving in the lease property paying Rs 2000000 . Can he claim HRA Deduction by providing rent receipts which is of 12% pa of lease amount i.e Rs 240000 which is equivalent to market rent to employer for claiming the HRA Deduction

Dear Experts,

As per recent notification of Income tax department the launched compliance check functionality for Section 206AB & 206CCA of Income Tax Act,1961.

My query is that, on Income tax portal, from where i can get the functionality or from where i found the same?

My friend bought medical insurance for his dependent parents on which he wants to claim tax deduction u/s 89D. However he made the payment from his wife's bank account as he was getting a special discount on the premium by making the payment through that bank. Can he transfer the same amount to his wife's account and claim 80d deduction on his ITR ( Wife is not income tax payee) ? Or does he have to make premium payment from his own account only to claim benefit of 80D ?

In 26AS party name is shown as per PAN Name and Shown TAN Number along with name. If We have Transactions in many states & operating different tally for each state and Legal name is different from PAN name of Party. How can we identify the legal name of party to find out in tally?

I have a doubt. Suppose Mr.X , a resident but non ordinary resident, receives his superannuation pension income from Australia after deduction of tax by Australian govt. at the rate 35% . The pension income is deposited by the govt. directly in Mr. X's A/C in a Bank say IDBI Bank in India and it is not deposited in any bank account in Australia. The pension income accrues and arises from Australia.My doubt is that whether the pension income credited to Mr.X's bank account in India is taxable in India as income of RNOR received or deemed to be received in India???? Also please give relevant IT sections and case laws if possible...Since the RNOR is not having any bank account in australia, it is deposited in his account in India. So can any relief be claimed for the same??????

One more Kind request...Pls give me the applicable sections and case laws too if possible to justify ur answer..It will help me to an great extent