if income is :-
1 lakh income from other sources
2 lakh short term cap.gain from sale of equity share via listed exchange
49 lakh long term cap.gain from sale of equity share via listed exchange
----
52 lakh total income

how tax will be in (new regime for individual below 60 years) because, Long term cap.gain will be sepserately taxed at 12.5% plus surch + cess, right?

also, what is order to absorb within basic limit? 1st short term then long term righT?

my view:-
there will be surcharge but confused, as non-long term cap. gain is less than 50 lakhs.
(strangely,tax calculator after logging in income tax efiling is not showing quick links).

Two partners running a partnership firm from 5 years, recently they open another company which is Pvt Ltd.
They both withdraw amount from partnership firm in form of salary every month.
Is it necessary to show director remuneration in books of accounts of Pvt Ltd because it cannot pay now?

sir i have mistakenly filled the wrong gender and i tried to correct it by basic profile update but its not working and i also mailed them but they don't response please resolve this issue

If a common expenditure incurred like as security, house keeping, advertising.

Then is invoice demanded from out side vendor on Ho i. e ISD registered person. Is it correct, or any other else.

At the time of distributing input credit on service, is only input credit distribute or input credit plus service component charges both distribution to concern distinct person.

Please guide

Dear Sir,
We are a partnership firm operating an ice cream franchise business and selling our products through Swiggy and Zomato e-commerce platforms. These platforms deduct TDS at 0.10% under Section 194O on our gross sales (Sales + Packing - Discounts), excluding GST. The payment we receive is after deducting commission, ads fees, GST, TCS, and TDS.

Our query is:
Are we, as the sellers, also liable to deduct TDS at 2% under Section 194H on the commission and at 2% under Section 194C on the ads fees charged by Swiggy and Zomato?

We request your advice to clarify this matter and, if possible, kindly provide relevant documents or circulars to support the guidance.

Thank you.
Vasu Kodiganti
Mob.No.9490753838

Dear Sir,

One of my client has received a mail with the above subject line from Income Tax. While verifying it after logging into Income tax site there is no such notice. The amounts shown in the email are correct for HRA Exemption taken in Form 16 and while filing the return.

My query is if the rent amount per month is more than Rs. 50,000/- and the person has not deducted any TDS on the rent amount paid and claimed the exemption in his Form 16, then is there a way to rectify the error. The client has filed his return of income under Old Tax Regime.

Please help on the above matter.

Regards,
Divyesh Jain

Can someone help me to understand which ROC forms are required to be filed by a Private limited company after it becomes a holding company? Also, please let me know the compliance procedures to be followed under Companies Act, 2013.

Sir
a individual person(gst registered) is selling prepaid talktime to retailer (mobile shopkeeper) and purchasing from telecome company through invoice which was genertaed by telecom company itself onbehalf of above INDIVIDUAL. After a month telecom company paid him commission on his purchase and SALE invoice also generated by that telecom company on that person behalf.
my query is
Above person can claim GST on behalf of PURCHASE? although company paid him commission only
TELECOM COMPANY IS ALSO ASKING FOR CHALLN WHICH WAS PAID AGAINST COMMISSION INCOME
If we should leave ITC which section ?
Regards

Sir/madam,
We have raised a Tax invoice in June 2024 and the same is uploaded on GSTR 1 filed and input taken by buyer.

During the audit march 2025, we found that we missed the E invoice for the bill.
The invoice amount is less than 50,000.

Please advise what to do...???

After reading a few questions on tds under 195, I got a few questions, if anyone can kindly help me understand.

1. If I purchase courses from coursera for personal use. The invoice mentions their foreign address. Do I need to deduct TDS under section 195. I have also purchased a few courses from udemy but the invoices mention Haryana office.
2. As a part of the same question, do I need to deduct tds for payment to Netflix and prime video. Both of the invoice have the India address of Netflix and prime.
3. I have also booked travel air tickets from Agoda and few sites which also have their foreign addresses in the invoice. Do I need to deduct TDS in this case?
4. Also, as an individual, what should I check to know if I need to deduct TDS?

As an individual with no audit or anything, is there any scrutiny for these things