Awadhesh Pratap

I left my organisation in April 2023 and received a gratuity from them for more than five years of service. Since the gratuity was paid is May 2023 it has got added to my current year income (FY 2023-24). After gratuity exemption under sec 10, the taxable portion of gratuity led to a tax slab change. Since gratuity is an income for past services, should it not be taxed in the earlier tax slab ? Is Form-10E applicable in my case to claim relief ?


FinTax (CA ABHISHEK SINGH)

Hello everyone ,
We had taken services from ABC enterprises in the month of March and deducted tds on provision . Invoice received in may but in the different firm name reason being old firm closed and new firm started .

Can we revise tds return in this case ? If so what documents we should have so that we can answer statutory auditors if query is raised ?


Chahat Khanna

Resolved and deleted.


Raja G

An employee joined an organization with a package of Rs. 40 Lakhs. The employee asked the employer to issue one offer letter for Rs. 20 Lakhs in their name and another offer letter for Rs. 20 Lakhs in their spouse's name. The employer agreed and provided the offer letters accordingly. Is this legally allowed? It seems like they are trying to evade taxes.
Please share your views in detail along with sections. and whether it is legally allowed.

WHAT IS THE IMPACT ON EMPLOYER ? TO SUPPORT THIS TYPE OF ACTIVITY ? HOW TO REPORT THIS TYPE OF ACTIVITY TO IT Department


pavel

I have purchased AC in the month of May 2024 . I have no sale transcation .Can I claim refund of my gst input credit while filing gst return for the month of June 2024.


Komal
19 June 2024 at 22:03

Old tax regime & New tax regime

If my client informed there income details as per old regime to there employer at the time of TDS deduction (FORM 16) but at the time of filing return we found that new regime will be beneficial for him, can he opt for the new regime at this stage.


Dr. S.K. Soni

I recently purchased a house for Rs. 60.4 lacs on 08.06.24 and want to sell it for Rs. 1.00 crore to purchase a bigger house worth Rs. 1.5 crores. Please advise the Income Tax liability given the short-term Capital gain considering the reinvestment of the whole money for buying a new property.


jignesh sitapara
07 August 2024 at 16:09

ITC on Iphone

Dear Experts,
My client purchase two Iphones in one month. Can He claim ITC of both Iphones ?


backup 1989

Input Tax Credit Eligibility for Construction Equipment Vehicles

**Question for Expert:**

We own multiple construction vehicles (JCBs, Pokelands, trucks, dumpers) and frequently purchase tires and other parts for them. Are we eligible to claim Input Tax Credit (ITC) on these purchases under GST? If so, are there any specific conditions or documentation requirements we need to fulfill?

Thank you.


Sanjana Gupta
19 June 2024 at 18:04

ITD-exec2003

Getting this error ITD_exec2003 while uploading return today please help.
And while uploading through software getting schema error try again later.

Please help.






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