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Amit
29 March 2024 at 13:36

Applicability of 43B(h)

Whether 43B(h) Is Applicable on those Companies on Which Tax Audit is Not Applicable. i.e. Turnover Is Less Than Tax Audit limit.


Auditor office online

My client was a NRI. he has NRE Interest Income (exempt u/s.10(4)). He has HP income Rs.48300 only in India. How declare in updated return and which section to be filled. He has also TDS Rs.14000/- for NRI remittences u/s.195.


Krishna

For AY 2019-20 charitable trust return is filed after due date & also report not filed in form 10B. Therefore cpc does not allow exemption u/s 11 & calculate tax on gross receipts. Now can we file condonation request for delay in filing income tax return with CIT (Exemptions)? & condonation for delay in filing form 10B with CBDT to get exemption u/s 11 ?. How to submit the condonation request with CBDT ??
Please reply.
Thanks in advance.


Mahabir Prasad Agarwal
29 March 2024 at 10:20

Section 43B(H) and 44AD

Whether section 43B(h) of Income tax Act applicable to a assesse who is declaring his trading business income U/S.44AD ?


kollipara sundaraiah
29 March 2024 at 09:49

Rent paid TDS sec 194i or sec 194i(b)

Sir,
Tax audit it assessess rent paid to another tax audit assessess
Question:
Sec 194 I or sec 194 I (b) correct and difference between both sections.


suresh s. tejwani

IF MR.X HAS FILED REGULAR RETURN U/S 139(1) FOR A.Y.2018-19 AS ON 31/10/2018 FOR WHICH INTIMATION LETTER WAS RECEIVED AS ON 26/04/2019 UNDER WHICH DISALLOWANCE UNDER SECTION 43B WAS MADE FOR GST LIABILITY NOT PAID BEFORE REGULAR FILING OF RETURN.
AFTERWARDS MR.X HAS PAID THE GST LIABILITY BUT DEMAND WAS MADE AGAINST SUCH RETURN.
NOW MR.X HAS FILED RECTIFICATION OF RETURN U/S 154 AS ON 06/06/2023 AND PROCEESED AS ON 05/10/2023 BUT SUCH ORDER WAS NOT KNOWN TO ASSESSE AND APPEAL WAS NOT FILED AGAINST SUCH ORDER.
NOW MR.X HAS AGAIN FILED RECTIFICATION U/S 154 AS ON 31/01/2024
SO, WHETHER SUCH SECOND RECTIFICATION CAN BE FILED? WHTHER IT IS WITHIN TIME LIMIT?
IF YES ASSESSE SHOULD WAIT FOR SUCH RECTIFICATION TO BE PROCESSED TO FILE APPEAL AGAINST SUCH ORDER?
OR IS THERE ANY OTHER OPTION TO FILE APPEAL FOR SUCH ASSESSMENT YEAR?


Shailesh
28 March 2024 at 18:48

Applicability of Clubbing of Income

Scenario: Husband transfers 25 lac to his wife. She then invests this amount in Equity shares. She pledges this equity shares with broker to get collateral margin. She does F&O trading using this collateral margin.

Question: I understand the capital gain (if any) arising from equity investment will be clubbed with husband's income. But what about the income from F&O trading? Will it be treated as her income or also clubbed with husband's income?


PRAKASH MENON
28 March 2024 at 16:40

HDB FINANCIAL

Dear Sir,
On April 2023 we have taken vehicle loan from HDB FINANCIAL SERVICES LTD, Chennai for purchasing trucks. We are paying interest to them on each EMI. I want to know whether we have to deduct TDS on interest from them.
Please clarify the same immediately.
Prakash Menon
Accountant


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 ?


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?