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Mahabir Prasad Agarwal
28 March 2024 at 13:46

Audit limit u/s.44AB for FY 2023-24

For FY 2023-24, my business turnover is in between 1.5 to 2.00 crore. Am I liable to get my accounts audited U/S.44AB or may I declare my income u/s. 44AD ?

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suresh s. tejwani
28 March 2024 at 11:27

DEPRECIATION RATE ON SMART BOARD

WHAT IS THE APPLICABLE DEPRECIATION RATE ON SMART BOARD FOR STAFF MEETINGS?

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keyur

Sir/Madam

I have queries for tds to be deduct on provision of Prof. Fees, Legal Fees made on monthly basis-

> if original bill yet not received then tds to be deduct or not?
> If original bill to be received in next financial year then tds to be deduct or not??

thanks in advance

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Neha online

Please guide if I have to file Income Tax Form 71 in a case where income is recorded in FY 2021-22
and TDS deducted on above income appears in 26AS of FY 2022-23 till when can Form 71 be filed
Thanks in advance.

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Bapun Dasgupta

I have defaulted in paying balance amount of advance tax by 15th. March, 2024. I want to pay the balance amount by 31 March, 2024 alongwith interest @ 1% u/s. 234C. My queries :
Which Challan No. shall I choose for payment ?
Which head of tax shall I select now, Advance Tax or Self Assessment Tax ?
Shall I select the Interest box for Interest payment ?

Best regards

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R Hiremath

Respected Sir,
I need suggestion in the below mentioned situation,
For example, Mr. A has sold Plot in Jan 2024 with Profit of 457,721.00 and he wants to reinvest the sold amount and paid Advance to the Seller for purchase of another Plot. But, due to unavoidable circumstances he failed to register Plot in his name within March 2024 (i.e FY 2023-24). Now what could be tax implication on this. Can he claim Exemption u/s 54F on the basis of Advance Payment. Kindly guide me in this.
Thanks & Regards.

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Chandrasekhar Kandiraju
27 March 2024 at 22:10

SREI NCDs Resolution settlement

The resolution plan of SREI infra NCD default, for its holders provides two components of payment. One part distributed as cash payment directly and the balance in the form of Security receipts (SR) and Estimated Optionally Convertible Deposits (OCD). These SRs and OCDs are held by Punjab National Bank and will be released after 8 years. Please therefore inform how the capital loss of debt is booked. Is it only cash paid now as value of return; and SR+OCD if any paid after 8 years to be taken as income for future earnings.

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Jayadev B

I am working in a Logistic company, where we have all types of vehicles for transportation of people and material with an agreement with private vehicle owners. Like Uber, Ola, Rapido, etc.
The company gives a credit of Rs 2000/- per month to me. We can use our company vehicles like Motorbyke, Car, Tempo etc to the extent of Rs 2000/-. In case, if we don't use fully, the left-out credit will be lapsed and next month again a transport worth of Rs 2000/- will be credited. So the amount will not be carried forward.

Whether this facility is taxable or not.

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raghavendra b
27 March 2024 at 21:48

SECTION 115TD

DEAR SIR,

ONE OF MY CLIENT PAID INCOME TAX PAID BY HIMSELF UNKNOWINGLY WRONGLY SELECTED MINOR HEAD ACCRETED INCOME U/S 115TD.

IS THERE ANY PROBLEM IN FUTURE CPC WILL ASK DEMAND

PLEASE CLARIFY ME

THANK YOU

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Neha online
27 March 2024 at 14:28

Clarification on Form 71

Please guide if I have to file Form 71 where income is recorded as per accrual basis in FY 2021-22
and TDS deducted appears in 26AS of FY 2022-23 till when can Form 71 be filed.
Thanks in advance.

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