We are in the business of erection of buildings, We often receive invoices in the month of April and May which are having dates of April and May but in the Description of Service they mention crane charges for the month of Jan, Feb and March. Till now we were making provision for it and deducting TDS. Now the party is telling that since they have issued bill in april and they have considered it as income of next financial year, we should deduct TDS in current Financial year. We are also claiming GST in April only when we receive the bills.
My question is if we book the expenses in April or May the month in which bill is issued. Will the department not qualify it as prior period expenditure, since in the narration it is written Feb and March Expenses.

At the time of registering a property, the valuation for the purpose of stamp duty is found to be higher than transaction value.
Will the additional valuation be treated as deemed income in the hands of seller?
What is the relevant income tax provision?

Sir,
A gst registered regular scheme old gunnies trading dealer purchase of urd person rs:80,000/- dt:20-04-21.
Question:
1.Dealer inward supplies from urd person value show column in gstr3b april-21 return.
2.urd purchase of gunnies rcm applicable or not.

Esteemed members,

I am employed in Saudi Arabia since 2019. Since 1st April in this FY, I am in India. My contract with my Saudi employer expires on 31 July 2021. Assuming that I travel to Saudi on 1st June 2021, my total stay in Saudi will only be 2 months. My question is that if I still remain outside of India somehow for another 4 months (in bits and pieces) without a foreign job, will I be considered as an NRI for 2021-22 FY? Many thanks in advance!

I have filled ITR 3 for above assessment year in which I have filled Item 64 of Part A of Profit and loss account and Item 6 of Balance Sheet as I have not maintained regular books of account , yet I have received notice for defective return stating that I have not filled PART A of PNL and Bsheet. Whether it is correct notice ?? should I have to filled whole balance sheet and profit and loss account ?

Dear Sir,
Please guide me how to show the deduction in Annexure-II of 24Q RPU for deduction u/s 80U and u/s 80DDB. No specific column are there for the said deductions. Please guide

March 2021 month invoice not considered while making payment and filing return for the month of March. Can I take that March month bill in April month? Can I make the payment of that bill ?.If yes will it attract any interest?

Sir,
A gst registered regular scheme dealer sales turnover below 2 crores yearly.dealer b2b and b2c both types transactions.
Question:
Dealer hsn code show compulsory in gstr1 for april-21 return.

While making payment of TDS unfortunately I entered a wrong TAN and processed the payment (incident took pale on 23 April) .....on the same day I went to AO for correction but due to election and Corona not a single person of TDS department were there so not able to submit the request there. There after I wrote a mail to my AO but till know have not got any response from there.

Is there any other process for TAN correction in TDS payment challan

Hi All,

I was deemed an NRI few years back, according to Income Tax laws, because I had to be outside India for employment purposes for more than 184 days in a financial year. I had opened a Post Office Monthly Income Scheme (MIS) account when I was back in India. Honestly, back then, I wasn't even aware what constituted an NRI in the eyes of IT dept as we always believed NRIs were those who left India & had no intention of returning as a citizen. Consequently, I wasn't aware of the restrictions on NRI investments in India.

I only recently learned while browsing online that NRIs are not allowed to invest in Post Office Savings schemes including MIS & other time deposits!! As of now, I am again a Resident because in FY2020-21 I was home due to the global pandemic & my stay in India is now more than 182 days in the FY.

1. What are my options now? Should I prematurely close the MIS account? Should I wait for its Maturity?

2. Can I still open an MIS account if I become a 2nd account holder in a Joint account for MIS along with one of my Resident Sisters?

Thank you for your time and help.
CS.