Sir,

I resigned from private company where I put less than 5 years service and withdrawn entire EPF. EPF department paid the amount after deducting TDS 10% Rs 48000 during Mar'23. Immediately I paid advance tax Rs. 97000 during Mar 23.

Now while filing online return I selected year of TDS as 2022, since there is noboption for 2023 and entire amount as tds credit claimed this year. The system is calculating interest for delayed payment. There is no fault on myside.

Please help how resolve the issue.

Thanks & Regards,

hi,
filied the ITR 4 and validated everything...but while uploading it in income tax site it shows the error
"Business code u/s 44ADA is to be selected for income declared u/s 44ADA"

but i have done that i dont know y this problem is showing.. i called the CCare but that person told me to check in site for error related/how to file related things ( i found nothing)...

pls help

Mr. A had received arrears of pension from AY 2005-06 and he started to file Income tax return From AY 2015-16.
can he claim relief u/s 89(1) in AY 2023-24, if income tax return not filed in earlier years ?

Wallpaper work done at office premises is revenue expense or capital expense?? amount of expense is around 40,000/-

can anyone provide me latest ITT module 1 pdf ?

We are cement transportation business and provide vehicles for transportation of Cement. We are working under forward charges 12% GST. The Cement Company issue debit not for shortages of Cement and GST claimed 28%.
My question is can we take Input Tax credit on shortages and damages amount recovered from our freight bills.

L.D.Dharmadhikari

I have a scenario like this.
I have stocks as RSU in US and they vested in 2010-2019.
these stocks I sold then partially in 2019 and I invested that amount in buying a house A.
I also had a house B in my name which I sold and re invested that amount in another plot to construct a house C.
I did a gift deed to my wife for house A in 2023.

In 2023 again I have bought a plot to construct a house. I have the above stocks left as RSU in US and I want to sell them and use that money to pay for the land and construct a house D.
So as per section 54 can i avoid capital gains tax on the amount after selling those shares as I am investing that in construction of a house D

I only have plot C in my name as I have gifted the house A to my wife and will own plot and house D now.

Kindly advise.

As per Sec 186(2) (a)
No company shall directly or indirectly -
give any loan to any person or other body corporate;
exceeding sixty percent of its paid up share capital, free reserves and etc........................
As per Sec 186(11)(b)(ii)
"Nothing contained in this section except sub sec(1) shall apply
to any investment-
made in shares allotted in pursuant of clause (a) of sub-sec (1) of sec 62 or in shares allotted in pursuance of rights issues made by a body corporate."
Now My Query is -
The investing company intends to give further loan to other body corporate, then in computing the ceiling limits as per Sec 186(2) (a), whether all existing investments, if any, made in right shares as per Sec 186(11)(b)(ii), are to be included in the aggregate of the loans made by the company.

SIR
THE ASSESSEE DEALS IN USED CARS. HE IS UNDER MARGIN SCHEME FOR PAYMENT OF GST. IN FILING GSTR 3B ,THE OUTWARD TAXABLE SUPPLY IS PROFIT (SALE PRICE-PURCHASE PRICE OF CAR ). MY QUERY IS IF WE HAVE TO SHOW THE COST PRICE IN NIL RATED SUPPLY. BECAUSE IN IT IF WE DO NOT SHOW THE COST IN NIL RATED SUPPLY THE TURNOVER OF GST WILL BE VERY LESS AS COMPARED TO INCOME TAX; AND THERE WILL BE DIFFERNCE IN TUROVER AS PER GST AND INCOME TAX.
FOR EG. S.P. RS. 45,00,000 PURCHASE PRICE RS. 40,00,000. AND PROFIT RS. 5,00,000.
SO GST TAXABLE TURNOVER WILL BE 5,00,000. IF PURCHASE PRICE WILL BE SHOWN UNDER NIL RATED SUPPLY. IF WE DONOT SHOW IT THEN GST TURNOVER WILL BE RS. 5,00,000 AND WHEN WE FILE ITR THE TUROVER WILL BE RS. 45,00,000/- .

Our immigration company is not GST registered & company XYZ which provide assistance in getting offer letter to our students (for grant of student visa that company) received commission & now while sharing our portion of commission they want to deduct GST @ 18% & TDS @5% . We are okey TDS deduction (i.e. 5% u/s 194H) whereas my CA state that company cannot deduct GST as as we didn't raised any Bill with GST on IT. Please guide
So Basic Question's are
1) GST is deducted by foreign university / colleges while transferring Commission to Indian Agents.
2) Can Company XYZ can deduct our GST.

What is provision of Law