Hello!... Experts,

Some companies give Dividends thrice a year. For first one it was below Rs.5,000 so they don't deduct tax . Later On second n third they deduct tax for first one. In AIS gross amount goes under reported for first one, but TDS matches on the whole. So had partially disagreed in AIS feedback as gross Dividend was underreported by them and I mentioned the higher gross amount to update.
Co. is responding to department with respect to quarterly reporting , hence department is sending emails as source is disagreeing on insights platform of income tax.
Now, how n where do we reply / explain / clarify , give feedback for the same.

Thanks in advance.

Dear Sir
Our Client is Scrap Trader and he is purchases all type of scrap (i.e iron, Wood, Packinging Material, Plastic etc), so want to know regarding TDS Deduction Applicability on him. he liable to Deduct TDS of all type of scrap or only Applicable on metal scrap.
Also he not Taking the TDS registration till now , so can now he need to pay TDS from 01.10.2024 to till date (Which he is not deduct) or from TDS registration date when he obtain the same.

THANKS
Nitin Kumar

Hello!... Experts,

Came across a below mentioned article.
Will it be also applicable to Senior Citizens.
Filing ITR-2 as short & long term capital gains are there. Usually paying the exact tax computed by their system on return filing to avoid delay in processing due to refund.

ITR Filing Deadline Extended
The Government of India has extended the deadline for filing ITRs for the assessment year 2025-26. Usually, the deadline for filing income tax returns is July 31, 2025; however, the deadline has now been extended to September 15, 2025. This deadline is only applicable to non-audit taxpayers (most salaried individuals and small business owners).

But any taxes that are due, such as final tax or self-assessment tax, must still be paid before July 31, 2025. Taxpayers making payments of these taxes after the due date may suffer consequences such as interest and penalty, even if the return is filed by September 15, 2025.

Read more at: https://studycafe.in/itr-filing-major-income-tax-changes-to-take-effect-from-july-1-384006.html


Thanks in advance.

I am preparing to export round neck cotton tshirts, CFR value is 575,000.00 INR. I need to know is GST applicable on export? What are the taxes I need to pay to export.

How can I claim the GST I am paying on input to prepare and export the cargo

Thanks

Sir,

After the inorporation of new section 194T of income tax act 1961, I want to clarify TDS applicability in respect of the following transactions.

1. Interest on Capital Rs. 1,50,000 paid to Mr. A (Resident partner)
2. Interest on Capital of Rs. 2,25,000 paid to Mr. B (Non Resident Partner)
3. Interest on Loan of Rs. 3,05,000 paid to Mr. C (Resident Partner)
Here, which TDS sections was applicable. Need clarification whether 194T, 195 or 194A?

Our client is engaged services in exhibition stall fabrication. can we file ITR-4 return under SECTION 44AD. Client's turnover is 80 lakh.

if husband sold the residential property and same proceed invested again in residential property in the name of wife then he is eligible to claim deduction under section 54 ?

A project is going on in remote area where DG set is there to supply electricity and generator also.
There is a daily consumption of diesel for Rs.10,000/- per day.
In books of accounts under which head the expense of diesel will be booked?

Dear All,

Mr. A purchases goods from Mr. B and also sale goods to Mr. B

Mr. A pay to Mr. B after adjusting sale amount against purchase consideration.

Can Mr. A take Input tax credit of purchase made from Mr. B. (i.e. without actual payment of full consideration) in such case?

Do Mr. A has to maintain and settle purchase account separately from sale account to claim input tax credit?

Thanks & Regards
Nirmal Dave

A widow having 2 married daughter and no son; can she form a HUF with her daughters and son-in-law?