A partnership firm, which is a government contractor has sub-let work to one of its partners. The firm has also paid interest on this contract account dues. Is TDS applicable for the sub-let work and Interest payments made to the partner.

If one has missed out entering of some TDS in TDS Schedule in Return of 2021-22, but has duly included the corresponding income in relevant schedule, can he claim the same in Return for 2022-23?

Dear Sir\Madam,

My query is we have received fund on retrenchment like Gratuity, Leave encashment, Notice Pay & retrenchment charges.

So, we would like to know there is TDS applicable on above heads if salary amount is taxable.

Thanks & Regards,
Jitendra More

what will be the consequences for short provision made for Taxation of income tax .
or
also what will be the consequences for excess provision made for Taxation of income tax.

TDS deducted on short and excess provision , will be any consequences for short deduction of TDS.

PROVISION FOR AUDIT FEES ON 31ST MARCH RS. 60K, From XYZ Co.
(1)Whether below entry made are correct
On 31st March entry made
Audit fee A/c Dr.Rs. 60,000
To Provision for Audit fees Rs.54,000
To TDS on Professional Rs. 6,000
On receipt of invoice
Provision for Audit fees Rs. 54,000
To XYZ Co. 54,000
(2) if provision made 60,000 on 31st march but bills received 50,000
what entry should be passed after receiving invoice
(3) if provision made 60,000 on 31st march but bills received 70,000
what entry should be passed after receiving invoice.
Please reply.

In west bengal, I've two situation for P Tax.
I. As an individual he pays P Tax of Rs. 2500/- p.a. and also receive salary from another co. without deducted P Tax (let say his salary is above 40K p.m). Is the co. liabile to show that employee's salary in P Tax return?
II. A director is receives salary from a co. let say he receive salary 15k-25k. What will be deducted ptax for the director? Rs. 150/- or Rs. 200/-?

Dear Sir/Madam,

I request to you please guide regarding share transfer from Pvt. ltd. company from NRI (Foreigner) to NRI (Indian)
What is process?
Need to inform to RBI and any other department?

please guide

thanking you in advance

Regards
Rajnish

Namasttee Sir,
Sir, I am Sole propritor of Travels Agency purchase mobile phone and smart watch in name of my firm with GSTIN. Sir can i claim for ITC of mobile no and samrt phone for 1 Qtr (April 22 to June 22).. Sir please guide me in this matter

Hello:

A Partnership Firm is constituted - Sole Objective – Investments & Trading in Stock Exchange Listed Equity and Debt Instruments. Trading using Derivatives (Futures & Options)

Every Partner Contributes Rs 5 Lakh.

Income of the Firm will be from LTCG, STCG, Dividend, Interest on Government Securities and Profit from Futures / Options Trading.

1. Can Simple Interest at rate of 12% be Paid to Partner's Capital from the above sources of Profit every year and claimed as deduction in Firm's account ?

Thanks.