This Query has 1 replies
Sir, I am a retired employee of United India Insurance Co. Ltd.and have been getting my pension/salary. I had filed my ITR for AY 2019-20 with a refund claim of 40,000/-. . I had filed my ITR for AY 2011-12 and 2012-13 manually with neither refund claim nor tax paid (Only TDS). But , my employer has not filed TDS return and hence, the TDS for AY 2011-12 and 2012-13 is not showing in 26AS .Now the CPC has sent me a notice intimating to adjust the previous demand with the refund claim of AY 2019-20. Sir, please let me know how should I proceed now.
This Query has 3 replies
Hello,
I have purchased an apartment recently and am needed to deduct TDS for the purchase. I have the following queries regarding the form 26QB
1. I have paid earnest money by two cheques disbursed from my account on 16 Aug and 22 Aug. I have not deducted TDS then. Can i deduct TDS on the entire agreement value now in one go or do i need to deduct TDS separately for each of the cheques?
2. As the remaining amount will be disbursed by Bank through Home Loan, I am required to deduct the TDS. The actual amount disbursed by bank will be lower than the remaining amount (agreement value - earnest money), as i will also deduct TDS. So in Form 26QB, which value should I put, Agreement- Earnest money or Agreement-Earnest Money -TDS?
3. As my wife is co applicant in home loan, how do I factor her in in the TDS payment.
Regards
This Query has 4 replies
Whether it is compulsory to provide depreciation as per Income tax rule rate in non-audit cases. May I provide less depreciation on vehicles, plant and machinery, FFF ? .My turnover is less than 1.00 crore and I declare my income u/s.44AD.
This Query has 1 replies
I had sold ancestral land (purchased by my father long before 1980) during FY 2018-19.. I have to pay LTCG tax on the same. I have tried my best to know the govt. value of the land for calculating indexed cost of acquisition, but could not find the value. What is other alternative for the same ?
This Query has 4 replies
Respected Expert,
I’m a resident (i.e. resident and ordinarily resident). I got a temporary job (i.e. for 1 month period) as a FREELANCE Trainer to train ITI students to teach the work culture and soft skills. My client (i.e. employer) has deducted TDS from the payment (i.e. consolidated professional charges) under SECTION 194J. Which ITR form I have to file to get the refund of the TDS? ITR-3 or ITR-4?
I enquired so, because a Freelance TRAINER can’t adopt Presumptive Taxation Scheme of SECTION 44ADA as he/she won’t fall under either Legal profession or Medical profession or Engineering profession or Architectural profession or profession of Accountancy or profession of Technical consultancy or profession of Interior decoration or profession of Advertising or such other profession as is notified by the CBDT for the purposes of section 44AA (i.e. profession of Authorised Representative, profession of Film artist, profession of Company secretary, and profession of Information technology).
A freelance trainer also can’t adopt Presumptive Taxation Scheme of SECTION 44AD as he/she is not running a business. Because section 44AD is for BUSINESS and not for NON-SPECIFIED PROFESSION. Hence does a person who is engaged in a profession other than ‘those professions as prescribed under SECTION 44AA(1)’ will have to file ITR-3 form?
Please guide me and clear my doubt.
This Query has 1 replies
I ALONG WITH MY WIFE PURCHASED A PROPERTY WITH SALE CONSIDERATION OF RS 8000000.00 ON 03-07-2019 REGISTERED AT DELHI. NOW I AM FACING A PROBLEM IN FILLING FORM 26QB, FOR SUBMISSION OF TDS ON PROPERTY, AS 2 FORMS ARE TO BE SUBMITTED, ONE EACH FROM BUYER, I COUD NOT PROCEED WHILE FILLING 4TH LAST PART OF THE FORM 'PAYMENT INFORMATION'. SINCE MY TDS SHARE IS RS 40000 ONLY THE PAGE IS NOT MOVING FORWARD SHOWING ERROR MESSAGE AS IT MAY HAVE BEEN DESIGNED TO SUBMIT TDS OF MINIMUM RS 50000.
IT IS REQUESTED TO KINDLY GUIDE ME IN THIS REGARD AS DUE TIME IS NOT SO FAR
This Query has 5 replies
I have not shown ppf interest in earlier it returns
My ppf is matured in financial year 2019-20
Yet to file 2018-2019 return
This Query has 1 replies
I have filed return of my mom last year
In the return i have shown building of rupees 700000
But depericiation not charged
But i have shown it in the block
But in real this building is not for business purpose
And we do not use this for business
In the py 2018-19
Sold date i e on 13-1-19
We sold the property for 1060000
Now how i should treat this
As a capital gain or as a pgbp (block)
If i take as a capital gain
Than no tax
Because of indexation
But if i treat this as a pgbp
There will be tax bcs my block become nil
How i should treat this.
I have no investment till now
Question
1 if i show as a cap gain
Whether chances of notice are there or not
2 whether to treat this as a cap gain or block pgbp
3 which itr i should file if my mother has 50000
Also business income
4. If notice come what was the interest implecation
This Query has 1 replies
The person is ST( Boro Kachari) as defined in clause (25) of article 366 of the Constitution
and
Residing BTC-Assam - Specified in Part I or Part II of the Table appended to paragraph 20 of the Sixth Schedule to the Constitution.
If the income are earned from
1. Bank Fixed Deposit.
2. Share trading.
Please clarify whether the Income are exempted as per The provision of the Section 10(26) of Income tax Act 1995.
This Query has 1 replies
sir there is indian musician who is going to upload there music and videos Globally in I-tunes, Gaana , and Saavan and other musically apps by paying some fees to I- tunes and and other musical apps for that he is going to receive some money suggest me which form to be fill and how to submit, what are all documents or details required for that
Reply to Intimation U/S.245 of Income Tax Act,1961