Dear Expert : A Lorry Contractor does not has own lorry , he takes on hire from others and do the lorry service, an filling declaration for no deduction of TDS u/s 194C on freight u/s 194C (6), it valid declaration ? Is it tax should be deducted being a contractor or not since he does has own lorry or less than 10

Hi,

I have an invoice from makemytrip. I don't know to pass an entry in tally ERP9. I invoice the Fare Charges are 4316/- , makemytrip service fees are 245.76 and GST is 18%, which is on Service Fees. The total invoice is of Rs.4616/- which includes Rs10/- as donation amount.Should I consider it as IGST 18% as the flight travelling is from Mumbai to Hyderabad. Our is a proprietory concern

Mr Arjun is getting annual pension of Rs.4,00,000. In addition to this he has long term capital gains from sale of shares Rs.50,000. Kindly clarify his Income Tax liability.

KINDLY CONFIRM WHICH TDS RATE 2% /10% WILL APPLICABLE ON IT DESIGN & DEVLOPMENT SERVICES ?

Dear Sir

Kindly advise for entry in book of accounts. Proprietor has been death in Feb 21 His capital value Rs.3421000/- in shown in books. Rs.642000/-in March 21 adjusted with fixed assets and rest RS.2779000/- transferred to his A,B, & C, Under( HUF account) sons equally. in current year Son Mr.A is the proprietor of same form. But in books of account in which group i create the ledger of Sons Mr.A,B,C

My relative filed ITR for AY 21-22 one month back as per 26AS. He is supposed to get refund of around 25K. He was checking this new AIS (annual information statement) yesterday. AIS has interest from income tax refund about 4K (which he received for AY 20-21) which is not there in 26AS. So, should he file revised return now including this interest on income tax refund or leave it and wait for any notice from income tax department?

B purchases residential plot from C less than Govt Stamp Duty value ( i.e Purchase Consideration Rs 40 Lakh & Govt Stamp duty Value Rs 50 Lakh )
1) Then as per U/s 56(2) (VII) Diff of Rs 10 Lakh will be added in other income in the hand of B ?
2) If B Show such transaction as stock in trade instated of capital assets , then U/s 56(2) (VII) provision is applicable or not ?

A is father in law of B.
If B Sold same residential plot to A less than Govt Stamp Duty Value( i.e Sale Consideration Rs 40 Lakh & Govt Stamp Duty Value Rs 50 Lakh ).

3) Then as per U/s 56(2) (VII) Diff of Rs 10 Lakh will be added in other income in the hand of A ? can A take benefit u/s 56(2)(X) relative ?

4) Also As per U/s 50C - B has to pay any capital gain ? Because B purchases such plot to Rs 40 Lakh &sold of Rs 40 Lakh but as per u/s 50C Govt Stamp duty value Rs 50 Lakh will be considered as sales consideration .

sir please explain

If my turnover is 65 lakh all receipts in the bank can I show 6% profit

HRA and standard deductions are available for deductions from salary income;what about exempt allowance sec 10(14)2;my pay slip does not mention car allowance,transport,mobile allowance;transport allowance but I use my personal car to travel from home to office daily fuel expenses per month 5000,and annual car maintenance charges 10000 per year:can I claim these under section 10(14)2;is daily allowance fully taxable

Income of Senior Citizen as follows
Salary income after std dedn Rs.16,228/-
Speculation Profit from shares Rs.18,475/-
Long Term capital gains on sale of shares Rs.34,789/-
Short Term capital gains on sale of shares Rs.1,24,212/-
Income from other sources Rs.4,79,325/-
Gross Total Income Rs.6,73,029/-
Less : U/s 80C Rs.1,45,000/-
u/s 80TTB Rs.50,000/-
Total Income Rs.4,78,029/-

My question is whether there will be any tax payable or will be fully covered u/s 87A ?