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suresh s. tejwani

IF MR.X HAS FILED REGULAR RETURN U/S 139(1) FOR A.Y.2018-19 AS ON 31/10/2018 FOR WHICH INTIMATION LETTER WAS RECEIVED AS ON 26/04/2019 UNDER WHICH DISALLOWANCE UNDER SECTION 43B WAS MADE FOR GST LIABILITY NOT PAID BEFORE REGULAR FILING OF RETURN.
AFTERWARDS MR.X HAS PAID THE GST LIABILITY BUT DEMAND WAS MADE AGAINST SUCH RETURN.
NOW MR.X HAS FILED RECTIFICATION OF RETURN U/S 154 AS ON 06/06/2023 AND PROCEESED AS ON 05/10/2023 BUT SUCH ORDER WAS NOT KNOWN TO ASSESSE AND APPEAL WAS NOT FILED AGAINST SUCH ORDER.
NOW MR.X HAS AGAIN FILED RECTIFICATION U/S 154 AS ON 31/01/2024
SO, WHETHER SUCH SECOND RECTIFICATION CAN BE FILED? WHTHER IT IS WITHIN TIME LIMIT?
IF YES ASSESSE SHOULD WAIT FOR SUCH RECTIFICATION TO BE PROCESSED TO FILE APPEAL AGAINST SUCH ORDER?
OR IS THERE ANY OTHER OPTION TO FILE APPEAL FOR SUCH ASSESSMENT YEAR?


Shailesh
28 March 2024 at 18:48

Applicability of Clubbing of Income

Scenario: Husband transfers 25 lac to his wife. She then invests this amount in Equity shares. She pledges this equity shares with broker to get collateral margin. She does F&O trading using this collateral margin.

Question: I understand the capital gain (if any) arising from equity investment will be clubbed with husband's income. But what about the income from F&O trading? Will it be treated as her income or also clubbed with husband's income?


PRAKASH MENON
28 March 2024 at 16:40

HDB FINANCIAL

Dear Sir,
On April 2023 we have taken vehicle loan from HDB FINANCIAL SERVICES LTD, Chennai for purchasing trucks. We are paying interest to them on each EMI. I want to know whether we have to deduct TDS on interest from them.
Please clarify the same immediately.
Prakash Menon
Accountant


Mahabir Prasad Agarwal
28 March 2024 at 13:46

Audit limit u/s.44AB for FY 2023-24

For FY 2023-24, my business turnover is in between 1.5 to 2.00 crore. Am I liable to get my accounts audited U/S.44AB or may I declare my income u/s. 44AD ?


suresh s. tejwani
28 March 2024 at 11:27

DEPRECIATION RATE ON SMART BOARD

WHAT IS THE APPLICABLE DEPRECIATION RATE ON SMART BOARD FOR STAFF MEETINGS?


keyur

Sir/Madam

I have queries for tds to be deduct on provision of Prof. Fees, Legal Fees made on monthly basis-

> if original bill yet not received then tds to be deduct or not?
> If original bill to be received in next financial year then tds to be deduct or not??

thanks in advance


Neha

Please guide if I have to file Income Tax Form 71 in a case where income is recorded in FY 2021-22
and TDS deducted on above income appears in 26AS of FY 2022-23 till when can Form 71 be filed
Thanks in advance.


Bapun Dasgupta

I have defaulted in paying balance amount of advance tax by 15th. March, 2024. I want to pay the balance amount by 31 March, 2024 alongwith interest @ 1% u/s. 234C. My queries :
Which Challan No. shall I choose for payment ?
Which head of tax shall I select now, Advance Tax or Self Assessment Tax ?
Shall I select the Interest box for Interest payment ?

Best regards


R Hiremath

Respected Sir,
I need suggestion in the below mentioned situation,
For example, Mr. A has sold Plot in Jan 2024 with Profit of 457,721.00 and he wants to reinvest the sold amount and paid Advance to the Seller for purchase of another Plot. But, due to unavoidable circumstances he failed to register Plot in his name within March 2024 (i.e FY 2023-24). Now what could be tax implication on this. Can he claim Exemption u/s 54F on the basis of Advance Payment. Kindly guide me in this.
Thanks & Regards.


k chakraborty

can the experts guide me on how can i raise query/griavence regarding ITR form itself.
I want to raise query regarding specific rule made in the ITR form not regarding any e-filing process or assessment issue. I think there are some anomalies b/w the Act. and itr form, and want clarification for the same from department. How should i proceed being a taxpayer.