A proprietorship firm wants to convert to a Partnership Firm having proprietor as partner and 2 other parnters.
What are the Tax Implications in Income Tax w.r.t the same.The proprietorship firm is also having b/f business losses. Can the same be carried forward?
If TDS is deducted u/s 194DA on maturity of proceeds of life insurance policy, then such income is exempt or taxable?
We are a business organization. We paid Rs. 12000/- Monthly to pujari ( priest ) for Abhishek on daily basis👌to lord shiva Temple 👍. This expenses we debited to donation👍 account ( not included deduction in P&L account / i. e. Add back to profit👍.
Can we are liable to deduct tds? If yes under whic section.
Dear Sir/Madam,
I've the following queries,please assist me if possible,
My mother (senior citizen) didn't file ITR for AY 21-22,gross total income was 4,75,000, Rs. 4700 tds deducted (other income source).
My question is,
Can she file condonation of delay to file updated return without penalty and interest for tds credit now if granted or time limit to file condonation is over ?
Thanks
If TDS is deducted u/s 194DA on maturity of proceeds of life insurance policy, then such income is exempt or taxable?
If sales were recorded in F.Y. 2023-24 but the related TDS credit appears in the F.Y. 2024-25, is Form 71 applicable?
Can a Partner Claim any kind of expenses against Remuneration Received by him from the Firm?
Sir,
A dramatic union get Rs 500000/ from Ministry of culture on f. y . 2012. For this granted amount from ministry, I already submitted utilization certificate to the ministry but I did not file itr for that A.Y. 2012-13. Income tax Department sent a intimation letter to me for a demand. My question is what I do now? what is the best way for me?
I filed my ITR-3 for A.Y. 2025–26 on 01-Sep-2025, and it was successfully e-verified on the same day. However, the return is still not processed till date, so I have raised a grievance with CPC.
I need a declaration u/s.13(3) format for renewal of registration U/s.12AA of the IT Act, 1961
Conversion of Proprietorship Firm to Partnership Firm