Easy Office
LCI Learning


Ashish Agarwal
03 July 2022 at 15:03

26AS NOT UPDATED

Someone by mistake made a payment to his vendor after deducting TDS but, by mistake mentioned my PAN instead of his Vendor's PAN. As a result, the whole amount and the TDS is showing in my 26AS and AIS/TIS. Somehow I contacted the deductor and he agreed to his mistake. Now according to him, he has revised his TDS return a week ago but the amount is still showing in my 26AS/ AIS/TIS. Does it take so much time for 26AS / AIS to be updated ? What remedy do I have ?


Sharad
03 July 2022 at 12:29

Query on Joint Property Sale

Hello,
I bought flat ~12years ago @16L and sold in FY 2021-22 in 40Lacs.
Sold property was Jointly owned by Me & my mother.
This sold transaction entry of 40lac (SFT-012) came in 26as & AIS of both me & my mother.
 
I need your help to understand,
Question 1 : while filing ITR how I need to show this
Option 1 - both me & my mother need to show full 40L
Option 2 - me & my mother need to show 20L each.
 
Question 2 : how the buy price needs to show for both the buyers
Option 1 - both me & my mother need to show full 16L
Option 2 - me & my mother need to show 8L each.
 
 
Question 3 : After 4/5 years, I have paid VAT charges of ~32000
How this can be shown in ITR to avail Tax benefit (with indexation)

Question 4 : I had some legal issues with my Tenant, who sublet my property to someone else.
In this case I had paid 25000 as lawyer fees.
and at the end paid 1 lac rupees to person staying in my flat to vacate.
How this 1 lac & 25 thousand can be shown in ITR to avail Tax benefit (with indexation)

 
I will be obliged If someone can help me on this.
 
Thanks


akshay maloo
03 July 2022 at 11:52

Regarding Rera Compliances

IS there any liability for Partnership Firm to get registered from REGISTRAR OF FIRMS under RERA?


VARMA

Dear sir,
Kindly advise, if PF is not paid on due date ,due to bank server down & paid on next day.
whether it will be disallowed. or we can provide bank server down reason.
advsise.


PARAS CHHAJEDpro badge
02 July 2022 at 19:35

Cash payment against land purchase

Mr. A sold a piece of land to Mr.B for Rs.3,50,000 on 17.06.2022 and entire payment was made in cash.
Please advise whether Mr. B would be liable for contravention of s.269T of the Income Tax Act, 1961 and liable for penalty u/s 271E ?
Whether Mr. A would be liable for contravention of s. 269SS and 269T both


M.K. GUPTA

IF A PERSON BEING AN INDIAN RESIDENT OPENS A COMPANY OUTSIDE INDIA THEN WHAT WILL BE THE TAXABILITY IN HANDS OF THAT RESIDENT AND IN HANDS OF THAT FOREIGN COMPANY AS THERE IS NO BRANCH OF THAT COMPANY IN INDIA. BUT THE OWNER OF THAT COMPANY IS RESIDENT OF INDIA.....


Alexis Marine
02 July 2022 at 16:09

REGISTER IN IEC GATE

GOOD DAY
I AM PARTNER IN COMPANY, AND COMPANY HAS IEC CODE
WE WANT TO REGISTER IN ICEGATE AS IEC HOLDER
I AM DSC HOLDER AND PARTERN AND AUTHORISED PERSON
PLEASE HELP HOW TO REGISTER
STEP BY STEP IN ICEGATE

REGARDS


kollipara sundaraiah
02 July 2022 at 15:22

CHIT FUND RECEIVED AMOUNT QUERY

SIR,
It assessee chit fund monthly amount paid rs:50,000/- * 50 instalments total rs:25,00,000/- paid. if amount received rs:23,60,275/- from chit fund company.
Query:
Assessee differance amount show procedure in accounting books and treated in it returns.


Jatin Sachdeva

Hi Sir/Ma'am,

I'm filing my ITR3 and getting the following error during validation. The "Gross Dividend" detail was prefilled.

Dividend Income must be equal to 1a(i) of Schedule OS - DTAA of Dividend - System calculated value of Interest expenditure u/s 57(1)] of Schedule OS


Sanjay Sharma
02 July 2022 at 13:34

Sales entry vs Journal entry

Dear Experts, one of our company dealing in service sector. Accountant uses Tally as accounting software. He entered all the sale / purchase bill in journal entries in Tally as there is no need to maintain inventory. Are these entries okay or not as per Company's Act or Income Tax Act.
will income tax department disallow all the revenue just because of this (sales entry in journal in Tally).
Thanks in Advance