Hi All,
Some companies are providing wallet services like sodexo,zaggle etc in which some components are carved out from employee salary and offering as allowances on monthly basis to save tax for employees.
One such component is Gift.

If gift is given by employer for performance over and above CTC then it can be tax exempt upto 5000.

But if 5000 is carved out from CTC of employee and paid on monthly basis(5000/12) by employer,i dont think it is tax exempt as it is part of CTC of employee and IT department may say that this is tax evasion.

Please clarify

TRUST INCORPORATION DATE IS 20.09.2022. THERE WAS OCTOBER-23 AMENDMEND IN TRUST 12A 80G REGISTRATION THAT TRUST CAN DIRECTLY APPLY FOR FINAL REGISTARTION INSTEAD APPLYING FIRST FOR PROVISIOANL REGI .
IN MY CASE WE HAVE FIRST APPLIED FOR PROVISIONAL (NOT APPLIED DIRECTLY FOR FINAL REGI) EVEN IF CHARITABLE ACTIVITIES HAVE BEEN COMMENCED.
MY QUESTION IS THAT CAN WE APPLY FOR FINAL REGISTRATION BY SELECTING CLAUSE 2- 12A(1)(ac)(iii
).
or SHOULD WE SURRENDER PROVISONAL REGISTARTION AND APPLY FOR FINAL REGI BY SELECTING CLUASE -4A (item (B) of sub-clause (vi) of clause (ac) of sub-section (1) of section 12A of the Act. )

For the first time we find that From 16C generated under TRACES is much lower that the Rent paid/Payable and Tax deposited as per Form 26QC.

Form 16C has picked up the rent paid after TDS for the last month and calculated tax @ 5% on that instead of the full years rent and 5% on that ? May be a part of a system change ? Has anyone else faced this ? What can be done as Form 26QC is correct ? Appreciate your help!

Number for example are monthly rent for residential Rs 1 lakh pm. Annual rent Rs 12 Lakhs. TDS deducted and deposited @5% is Rs 60,000. Last months rent paid is Rs 1 lakh less 60,000 TDS ie Rs 40,000. Form 26QC is correct but Form 16C says rent 40,000 TDS paid Rs 2,000.

Suppose Indian Private Limited company pays the payment for hire of chartered plane to foreign resident. Whether whether withholding tax/ TDS is applicable for such remittance. Kindly advise.

Sir,
It assessess itr returns filed sec 44ada and sec 44ad two provisions every year assessess un secured loans different creditors rs:50 lacs amount received
Question:
Assessess selection of scrutiny provision applicable in it act

Can someone help with below query?

Property 1 (Flat):
Sale value = Rs. 1.36 crore
Buyer = 2 people (equally split)
Seller = 2 people (equally split)

While filling out 26QB for each buyer, what is to be filled for:
1. Total Value of Consideration (Property Value) = Rs. 1.36 crore or 68 lakhs or some other value?
2. Amount paid/credited currently = Rs. 1.36 crore or 68 lakhs or some other value?
3. Total stamp duty value of the property = Rs. 1.36 crore or 68 lakhs or some other value?

Thanks in advance

Sir

I mistakenly paid a 26 QB challan for land instead of building. Can I correct this and change it to building?"

Selected wronly land in place of building

Payment made to Chartered Accountant for professional services provided by him on following dates:-
13/12/2023 Rs. 20,000.00 TDS not deducted as amount was less than threshold as per 194j
09/01/2024 Rs. 20,000.00 TDS deducted rs. 4,000.00(Rs. 2,000 on first payment+2,000 on second payment) on 09/01/2024 and deposited to govt. on 07/02/2024.
Now, while filing 26Q, how this 4000 has to be bifurcated for two payments?
If Q3 26Q is revised with entry dated 13/12/2023 & challan dated 07/02/2024 then interest will become payable on Rs. 2,000(on first payment) as the TDS should have been deposited before 07/01/2024.
Please guide on the above issue

Hi

Can anybody help me out with the below query?

Is TDS applicable to car parking charges paid to individuals by the company?

Thanks in advance.

Hi

Is TDS applicable to brokerage charges for commodity trading?

Thanks in advance.