My father sold our residential house in native and deposited the amount in capital gain account. We have used almost all the money for buying house in Bangalore. Now, we want to close the account but the manager is asking for approval of tax accessing officer. Since, my family has shifted to Bangalore, it seems quite difficult to travel to native for AO approval. Is there any other way(probably online) for applying for this approval? Which documents are required for approval?

Please help as even few CAs are also not sure about the procedure. Thank you !

I have paid Rs.390000/- as salary to A for the FY 2019-20?
My questions is
(1) should it require to deduct the TDS
(2) should I require to file.TDS return

Shares of a Company A which was received (in Sep 2015) in D Mat Account on merger/ take over of shares of another company B. (Cost of Acquisition Rs 5000/- purchased in Sep 1991)

Now Shares of Company A sold with STT duly paid in Jan 2020. (sale on Recognized Stock Exchange for Rs 352500/-) ( Market Value on 31-1-18 was Rs 331000/-)

Query : As STT was not paid when original shares were acquired then How capital gain will be calculated.

If person provide professional services to His client so it also comes under regular taxpayer scheme and liable to file gstr-3b and gstr-1?

Respected Sir,
In my business private limited company, there was a case under litigation from which (sundry debtor) I received the whole amount with interest . So my question is that should I need to pay GST on interest income earned.

Dear All,

Whether due date for Investments under Section 80C for the F Y 2019-20 extended...If yes, to when..??

Due to delay in shipment we need to pay some amount as detention charges and as per term , we need to recover the same from the customer .

weather we should raise debit note / or invoice?

Hi Experts
Could you please provide clarity on switching between new and old regime as per Finance act 2020. I understand that all the employee should have provision to switch between new and old regime anytime from April 1st till march 2021. In that case employee can change their plan at any time in the FY. Kindly clarify

Basis section 6 of income tax act how do I determine residential status of an individual who is an OCI card holder in india and stays in India for less then 182 days but more than 60 days.
Addtnl informatio :
He has been in india for more than 365 days in past 4 years and leaving india for employment outside india.

Question is mostly to understand if OCI holder falls under the exception provided for indian citizen going out of india for employment.

Also please share links to substantiate your response which i can present to tax authority.

Thanks in advance.

Copying text from income tax website:

Residence in India.

6. For the purposes of this Act,—

(1) An individual is said to be resident in India in any previous year, if he—

(a) is in India in that year for a period or periods amounting in all to one hundred and eighty-two days or more ; or

(b) [***]

(c) having within the four years preceding that year been in India for a period or periods amounting in all to three hundred and sixty-five days or more, is in India for a period or periods amounting in all to sixty days or more in that year.

Explanation. 1—In the case of an individual,—

(a) being a citizen of India, who leaves India in any previous year as a member of the crew of an Indian ship as defined in clause (18) of section 3 of the Merchant Shipping Act, 1958 (44 of 1958), or for the purposes of employment outside India, the provisions of sub-clause (c) shall apply in relation to that year as if for the words "sixty days", occurring therein, the words "one hundred and eighty-two days" had been substituted ;

(b) being a citizen of India, or a person of Indian origin within the meaning of Explanation to clause (e) of section 115C, who, being outside India, comes on a visit to India in any previous year, the provisions of sub-clause (c) shall apply in relation to that year as if for the words "sixty days", occurring therein, the words "one hundred and eighty-two days" had been substituted.

One client has credit ledger balance since march return 2019. And credit balance available in my client gst account .So query is that can we utilise credit ledger balance agaist outward supply liability as on today february 2020 gst return.