I have purchased a land for 85 lakhs during FY 2019-20, paying tax @ 1%.I have deemed business income as per 44AD and interest from banks. I want to know which ITR form I am supposed to file my returns for AY 2020-21
I need help for the following query.
A share of a property based in India is being paid to 2 American citizens.
The total is approximately 9 Lacs per person.
What is the tax liability on them and how should i deduct the TDS and pay the government when they dont have a pan card.
Would appreciate a response.
I.t.return(non audited) filed person sales of vacant site value Rs:3,50,000/- Dt:20-03-2020 in f.y.2019-2020.
1.Assess sales of vacant site rs:3,50,000/- shown in I.t. return compulsory and capital gains applicable or not applicable
2. Assess mistake purchases of vacant site rs:1,70,000/- in f.y 2012-2013 not shown in balance sheet( not entered in books).
A Person is running a business which is eligible u/S 44AD but due to agriculture income he is unable to file ITR 4 and he is filling ITR3
1. Whether assessee is declaring income only under section 44AE/44B/44BB/44AD/44ADA/44BBA/44BBB in this option which is option to be selected yes or no
TDS is to be deducted @1% on sale consideration i.e. agreement value of Purchase of House Property from resident seller. My query is that when this TDS to be paid. I have already paid stamp duty and registration amount on 28th Feb 2020 and part payment is already made to the owner i.e. Rs. 1000000 in two tranches in March 2020. My loan of Rs. 5500000 is yet to be disbursed.
My query is that when TDS of Rs. 65000 needs to be paid i.e. will it be paid when Final sale deed will be executed or when loan amount disbursed or can i make TDS now before loan disbursement right now.
Please give your valuable suggestions. Also let me know the process of paying TDS and filing of 26QB and generation of form 16B.
Thanks & regards
Can a partner withdraw his share of profit from a registered firm ,amounting to Rs 300000 , in cash?
Can a partner withdraw his share of profit from a partnership firm amounting to Rs 300000, in cash?
one of my client who is State Govt. Dept. has given quarry on lease for extractions of minerals etc...and in contract there are number of terms and conditions and one such conditions is if the lessee violates any conditions, the lesser will impose penalty on lessee...Do i have to collect TCS under section 206 (1C) imposed on lessee who have been caught in illegal mining and quarrying in other words is TCS applicable on penalty on defaulters kindly guide us with ur expert opinion
If money is withdrawn from Capital Gains Account Scheme (savings account) after 2 years from the date of transfer of original asset, is it taxable in that year only i.e year of withdrawal or it is taxable after 3 years are completed from date of transfer of original asset as per sec 54F?
I have deducted 194c for labrotary blood count invoice is this correct or wrong
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