Dear
Tax has been deducted under section 194H and 194JB can I submit the return ITR 4 u/s 44ADA or not ?
Tushar Kanti Bhattacharya

Hello
Can anyone guide me regarding :- How to Compute 5% Cash Transactions Limit For Tax Audit U/s 44AB ???

I am a qualified CA and I joined as a paid assistant in CA firm.Kindly suggest how to intimate the ICAI about my employment in ca firm

In AY2019-20, the LTCG loss was 2500 to be carried forward to next year. However in AY2020-21, again the LTCG loss was 15100 with the result that 2500 could not be adjusted in AY2020-21 filing. In Sch CFL it mentioned 'total loss carried forward for future years' as 17600.
1) Do I need to enter the AY2019-20 and AY2020-21 separately or put the figure of Rs 17600/- under AY2020-21 with filing date in Sch CFL this year?
In AY2021-22, the LTCG is 50000 which is tax free upto Rs 1 lac.
2) If I fill up Sch CFL with carried forward LTCG losses while filing tax this year , will it adjust with LTCG of 50000 even though, this LTCG amount is tax free or it will not adjust with Rs 50000/- and will be carried forward again to next year?
3) Or can I skip entering in Sch CFL, the losses this year and enter it next year with the losses carried forward in AY2020-21?

Hi Experts,
I moved to Canada for job with my family in Oct 2020, after spending 200 days in India.
I earned salary in India between April 2020 till Oct 2020.
I earned salary in Canada from Oct2020 onwards.
Since I stayed in India for more than 183 days (I was in india in all previous 10 years ) I am a Tax Resident in India as well as in Canada (due to residential ties).

1. Am I liable to pay tax on my Canadiam Income as well from Oct2020 to March 2021 ?

2. If yes, while filing Form67 for tax relief as per DTAA to get Foreign tax credit, Can I attach my salary slips (employer provided pay / wage statements) as a proof of nature of income, income paid and tax deducted/withheld? Is payslip considered a valid proof?

3. If not payslips, the what document can be provided. For Oct2020 to Dec2020 I have T4 statements stating total income and tax deducted by employer. However for Jan2021 to March 2021 , (As Canada tax year runs from Jan to Dec, there is no T4 (or any canadian proof document similar to Form16 or 26AS) , can I present a certificate from employer on its letter head mentioning my Tax Number, income paid and taxes deducted during 2021 part.

4. What if there is a Foreign tax refund but only after March 2021? Is that tax refund to be reduced from Foreign tax paid for calculating Foreign Tax credits against income offered for tax in india FY 2020-21? Appreciate your response.

Thanks, Manish

Rs 40,000/= paid to society in cash for NA Applications... while selling plot, is deductible as Exp or to consider cost of land... any problem for paid in cash ?

We filed our taxable gstr3B return on 25th oct 2021 . However due date was on24/10/2021.what amount of late fees and when we will have to pay the amount?

Hi,

If payment not made with in 180 days to the vendor, where as vendor filed the GST Returns, and the same if showing in GSTR 2B..

My query is whether we have to reverse the ITC, as we have claimed ITC, Auditor is objecting to reverse the ITC

Is there is any case laws supporting..

TDS/TCS - ERROR

Either challan number is wrong
or bsr code is wrong
or both are wrong

I have checked thoroughly challan number and bsr code. Both are correct.

Now what to do in such case.

ERROR FILE WITH THE CODE T-FV-3021 has been generated.

PLEASE ADVISE AND OBLIGE.

We have shown wrong cgst and sgst amount in March 2021 balance sheet and filed it. How to rectify this? Which journal entries needed to be passed. Please explain?