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.

LAST YEAR I FILED MY RETURN SHOWING BUSINESS INCOME UNDER PRESUMPTIVE TAXATION SCHEME, IN CURRENT YEAR I HAVE LIC COMMISSION INCOME ALSO, HOW SHOULD I DISCLOSE IT, IN MY RETURN.

UNDER BUSINESS HEAD OR OTHR INCOME HEAD??

KINDLY ASSIST

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Dear All

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