Dear Sir/Madam,

In the recent budget it was announce that the interest earned on any contributions by people to PF accounts exceeding 2.5 lacs will be taxable, I am a bit confused on interpreting this, below are my questions:

1) Does this limit of 2.5 Lacs takes into consideration both EPF/VPF account and PPF account?

2) Will there be taxes applicable still if EPF+VPF contributions are about 2.5 Lacs per year and we again invest upto 1.5 Lacs on PPF?

Request your help in clearing this confusion i got,

Thanks
Sherine

May some one explain what exactly is Notes to an accounts,explanatory notes,Directors Responsibility statement and Independent Auditors report? Are all these one and same thing or different. How they are related. Does CA prepare them or the Management of the Company? Who signs them?I am from non commerce background and always confused in above .
Thnx

Respected Sir,
on 31.05.2021,You have suggested FOR BELOW MENTIONED QUERY to file ITR again since time limit to reply against defective notice might have been lapsed. Kindly let me know under what section to be applied for proposed itr filing? Regards,TARAK KUMAR ROY

E-FILLINGINCOMETAXINDIA>MY ACCOUNT>FILED RETURN/FORMS SHOWS THAT THE RETURN FOR THE A.Y. 2020-21 IS DEFECTIVE, DEFECTIVE COMMUNICATION SENT TO ME ON 05/03/2021 U/S 139(9). IN FACT, I DID NOT RECEIVE ANY COMMUNICATION/ORDER/DIN EITHER OVER MAIL OR SMS. 3 REQUESTS SENT OUT TO CPC>PROCESSING THROUGH E-NIVARAN, BUT DID NOT RECEIVE ANY REPLY. WANT OF PROPER DIN/ORDER OF THE CPC - I AM UNABLE TO GENERATE XML U/S 139(9) TO UPLOAD THE SAME THROUGH E-FILE>RESPONSE TO NOTICE U/S 139(9). YOUR KIND SUGGESTION IS SOLICITED.

Mr X's son took a education loan to fund studies abroad (Loan Amt 40 lac approx). Due to pandemic he was unable to get a job. Due to high EMI cost Mr X now wants to sell one of his house property to pay off loan. Are there any benefit or deduction he can claim for the same.

Thanks in Advance

Dear Experts,

We are company paying rent rs 19500 per month to X ( Individual ) as per agreement. Upto Feb'21 we have already paid rs 214500. LL has demand higher rent hence we have amend the agreement and revised rent rs 26500 paid from Mar'21 onwards. In this case we came to know the rent amount exceed rs 240000 in the month of Mar'21 only. In this situation , TDS should be deducted for 241000 ( 214500 + 26500 ) or Rs 1000 only.? Please share relevant case laws if we need to deduct TDS rs 241000.
Please clarify the same.

I AM GOING TO SELL MY PRESENT HOUSE PROPERTY VERY SOON. I WILL ALSO BUY A NEW HOUSE PROPERTY SOON SAY WITHIN THREE MONTHS TIME.
SHOULD I KEEP PURCHASE CONSIDERATION RECEIVED FROM OLD PROPERTY IN MY PRESENT BANK ACCOUNT OR I NEED TO OPEN A NEW SEPARATE BANK ACCOUNT FOR THIS PURPOSE.
I NEED TO SAVE MY LTCG U/S 54.
WHAT SHOULD I DO! PLEASE ADVISE ME.

E-FILLINGINCOMETAXINDIA>MY ACCOUNT>FILED RETURN/FORMS SHOWS THAT THE RETURN FOR THE A.Y. 2020-21 IS DEFECTIVE, DEFECTIVE COMMUNICATION SENT TO ME ON 05/03/2021 U/S 139(9). IN FACT, I DID NOT RECEIVE ANY COMMUNICATION/ORDER/DIN EITHER OVER MAIL OR SMS. 3 REQUESTS SENT OUT TO CPC>PROCESSING THROUGH E-NIVARAN, BUT DID NOT RECEIVE ANY REPLY. WANT OF PROPER DIN/ORDER OF THE CPC - I AM UNABLE TO GENERATE XML U/S 139(9) TO UPLOAD THE SAME THROUGH E-FILE>RESPONSE TO NOTICE U/S 139(9). YOUR KIND SUGGESTION IS SOLICITED.

...

As per Company's act , is it compulsory that annual financial statements are to be prepared for period ending 31st March or Financial statement may be prepared for other period like 30th June or 30Sept because there are certain business where annual business cycle is different.?

dear sir,
i have taken excess input in gstr-3b of 20202021 and know i want to reverse this amount
please advice can i pay this amount through drc-03 as if i reverse this amount in 20212022 again differance will show in current year
with thanks