We Husband wife have joint saving a/c in a bank, wife's name as 1st holder, I'm 2nd holder.

Both our Form26-AS show same entry in Part-E SFT Details - Type of Txn (4) - SFT-005 Time Deposit, Amount 984829 Remark 'O'.

How to report it in our IT Return?

a party make an rent agreement in august 2019 for a building (semi -finished) and given advance to complete work, and agreed to adjust 50% of advance every month rent and pay 50% only. But to due to COVID not able to pay any penny. Now advance will be adjust in the form of rent till February 2021
Now query raises, what will be tax liability of my client for AY 2021-22 if advance not shown in ITR of AY 2020-21? The party has not start production in said premises nor paid.
Please show appropriate way to file ITR and deposit liability.
Regards
Vikas

My Customer doing TV repair/Service work. It is coming under Sec 44AD or 44ADA.
Which sec can I file it.

Sir,

I want to know the tax implication on a Company or LLP which was given a Car free of cost to a customer in connection with a sales promotion campaign.

My CC limits expired few months agao and I have not signed any new sanction terms or letter as bank dilly dallied on renewal, assuring that it is in process and will be done soon. I got limits from another bank at much better terms. and that bank paid my dues in CC account to take over my account. Now my old bank Axis has demanded 6% foreclosure and other penal charges for closing the account. My sanction letter has expired months back. Axis was peeved because i went to another bank. Since i no longer have a valid agreement or contract with them and CC is on demand loan which expires every year, am i liable for these coercive charges? or are there some clauses in the first original contract/agreement that all banks make us sign which we never read.

Dear Friends

I would like to share the below given issue with you.
One of our suppliers wants to collect TCS @ 0.1% u/s 206C as per TCS rule effective from 01-10-2020 but the same time we will deduct TDS @ 0.1% u/s 194-Q effective from 01-07-2021. There is no logic of TCS Collection from the supplier as section 194-Q has eliminated in such case the section 206C.

I would appreciate your comments on this issue.


With best wishes

Yours TARIQUE RIZVI

982 1630 130

Hi sir my name rohit lakare , problem is , how to exicute form 102 on stamp paper and what should I do?

I. Is there a provision by which a registered Public Charitable Trust in India can provide a Loan to a Third Party (i.e. an Individual/Partnership Firm/Proprietorship Firm/ Private Limited Company etc.) from its own resources?
II. If yes, then can it earn interest on the same? Further, will the interest earned on the said Loan be considered towards “Application of Income” and will the Trust be able to avail any Exemptions on the same through any available provision.
III. Moreover, if the same is given effect to, what shall be the regulation/policy intricacies one has to be aware of? Kindly provide complete details on the matter.

I have filled the ITR 2 HRA according to my Form 16. But I get an intimation

Schedule: Schedule Salary
Error Description: Exempt Allowance Sec 10(13A) is more than minimum of :a) 50% of (Basic + DA) orb) HRA .Hence amount exempt u/s 10(13A) is recomputed accordingly.
In Income Tax Return: X/-
Amount in ₹ As Computed: 0
Variance: X/-

What shall I do in this case? Shall I just mark it as "Disagree" and inform that the provided HRA Amount is according to Form 16?
Please help.

Thanks and Regards,
Prashanth

Respected Madam,
I on behalf of client tried to file Form 35 for A.Y.2018-19 but on proceeding to E-verify the form with DSC option, an error appears as Submission Failed "Invalid Input". I also tried contacting Income Tax Help desk but the automated machine replied PAN & Date of Birth does not match (even though it was matching) and did not proceed further. We request your kind selves to suggest a solution to this error as soon as possible.