Dear experts,
Please clarify which of the following expneses are disallowed under section 43b,37 or any other section of income tax.
1.Interest on late payment of TDS
2.Interest on late payment of GST
3. Interest on late payment of PF, ESIC
4.Late filing fees of GST
5 Late filing fees of TDS

What is the permissible FDI limit regarding digital media?

Hi. I have a flat in Mumbai for which i have taken a loan and have been availing income tax rebate of rs 2 lakhs against the amount i pay as an interest for the loan. Now that i am transferred to different city, i am planning to put me flat on rent. Will i still be eligible for the interest part rebate in case the total interest paid is more than the rent i am getting in a f.y.?

Assessee is an AOP and having business income from providing of broadband distribution services on which TDS is being deducted by principal u/s 194JA. Can assessee opt for 44AD ? if not under which section assessee can file the return. Assessee doesnt want to go for audit.

Respected Experts, we give freight to local vehicles that have not issue consignment notes and individual freight value is more than 750/-.

Should we pay RCM on the above transactions?

Please advise

Rakesh Sharma

Dear Sir,

Is TDS applicable on total invoice value or Only professional charges ?? could you please share me the relevant section.


Professional charges - 1,00,000.00

Printing and photos expenses - 10,000.00

Invoice Total - 110,000.00

Respected Experts, we have sent some Raw material, value of Approx. 1.20 Lacs to a job worker through delivery challan & E-way Bill for further processing. He processed the goods as per our requirement, but his accountant has sent the goods from Delhi to Haryana only on their Tax Invoice basis i.e. R. 22,000/- We have demanded e waybill. But he denied it by saying he is working with this practice for several parties.

Sir, what will be the exact practice & procedure for the above transaction?

Kindly advise.

Rakesh Sharma

1. I have qualified CS from ICSI. So I am eligible for exemption for 3 Papers in CMA Inter as under
a) Group-1: Paper-7 and Paper-8
b) Group-2: Paper-12

2. Can I appear Group wise? i.e., Group-1 in first attempt and Group-2 in second attempt? In such case whether exemption is available or I have to appear both groups?

3. What will be the passing marks for clearing Paper?

4. E.g. in Group-1, there are 2 paper (rest 2 are exempted). How much I have to score to clear a group? If I secure 50% in one Paper and 35% in other paper, will I be exempted from paper in which I scored 50% and have to appear for only paper in which 35% is scored?

5. When should I apply for claiming exemption based on qualification?

6. Can I claim exemption from SAP, Microsoft and Soft skill Training?

Please guide on the above points

Sir,

What was the correct method as per GST to collect tax in GST Invoice. Whether Tax should be collected for the net amount after deduction of discount or tax should be collected on the gross amount if discounts are shown separately in the invoice.

A new unit of the assessee deducted the share of employees from the salary however it could not open the account of PF because of lockdown hence it could not make the payment within 15 days. The whole amount was paid immediately after it got the access to the account for payment. What should be the due date of payment of deposit for tax audit purpose?