Respected Sir,
I have filled the ITR-3 for FY 22-23 with claim of TDS refund dated 30th Dec 23 and for some reason, I could not verified the ITR within Stipulated time date 30th Jan 2024 and after that I have sent the ITR V at CPC Bangalore and after 5 days I received following mail dated 5th Feb 2024,

"Your ITR-V has been received after the stipulated period of 30 days. Hence, in terms of CBDT (Directorate of Systems) Notification No. 05 of 2022 dated 29.07.2022, this ITR-V is not valid and hence your ITR is treated as 'Non-est' (not filed). "

So my humble request to experts kindly guide what to do in this situation.

Thanks & Regards

Raj

Hello CA Club Tax Experts:

Current status: OCI holder with foreign residency.

As we approach retirement in the next few years, we are exploring options of staying in India for extended periods of time, for example, for a few weeks to few months.

What would be the tax implication for us in India and our home country of citizenship if we stay in India for 3 months or 6 months or more in a year? We have foreign passports with an OCI card.

Regards,
Sunil Kumar Bali

op. wdv on 1.4.2023 Rs. 1 crore
add purchase in Feb 2024 50 lakhs

Less sale value in Dec 2023 Rs. 2.5 crore (here on 31.12.2024, block becomes negative)
-----------------------------------------------
WDV on 31.3.2024 minus Rs. 1.0 crore
===========================
my question is --> even if block becomes negative on 31.12.2024, (i.e. opening 1 crore minus sale 2.5 crore), its ok? i mean, short term cap gain will be only rs. 1 crore for fy2324, right?

my view --> yes, stcg will be only 1 crore for entire fy2324, because, sequence in section 50 is op + acquired DURING PREVIOUS YEAR minus sale value.
regards,
ca kunjan

Hi All,

I am looking for detailed information books on the below topics. Could anyone please help suggest which is a good one to go for?
1. HUF
2. Capital Gain Taxation
3. Taxation for NRI

Regards

Sir,

IGST Interest paid in Electronic cash ledger can be utilized for Interest on SGST and CGST?

We have deducted TDS 194C@1% of Individuals and filed TDS return but due to inoperative PAN department has raised notice to deduct 20% TDS. Now we have linked PAN with Aadhar then how we can reduce TDS liability?

Hi,

we have existing cement concrete floor in factory premises. now we are doing epoxy flooring on existing floor, can we capitalize epoxy flooring, please advise.

Regards

I HAD TO PAY THE TDS ON THE SALE OF IMMOVABLE PROPERTY IN LUMPSUM BUT BY MISTAKE I DID IT IN INSTALLMENTS.
CAN IT BE CHANGED NOW?

IF THERE ARE 5 SELLER OF PROPERTY AND OUT OF THEM 3 ARE NON RESIDENTS AND 2 ARE RESIDENTS THEN TDS WOULD BE DEDUCTED OF ALL SELLERS OR ONLY TDS OF NON RESIDENTS IS TO BE DEDUCTED IF SALE CONSIDERATION IS LESS THAN 50LAKH?

Respected Sir/Madam
Is TDS deducted u/s 194Q on Capital goods purchased? Normally as per goods we consider only goods we manufacture or resale not capital goods we capitalized in business?? So should we deduct on capex?? Kindly advice