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Shivam Jadhav
06 May 2024 at 14:54

Save tax on Personal loan

I have taken a personal for house construction can I save my tax by showing the interest that I am paying?


sivareddy
06 May 2024 at 14:19

269 st partnership firm

as per income tax law 269 st can a partnership firm has right to take cash of 150000 in a day for 3 days as 450000 as a capital contribution from one of the partner


SUNNY SK
06 May 2024 at 10:47

Guest House Rent

Dear Sir,
Director of the company providing guest house to the company and the guest house is used for the purpose of business. The guest house rent allowed or not in case of the company. If yes, under which section. The rental income in the hands of director taxable under which head. Please explain.
Thanks in Advance.


mahi devta

Wrong TAN mentioned in Challan 281, 20 days happened. how to claim refund. PLEASE REPLY


Anand Prakash Garg

Till now, I used to follow old tax regime income tax slab.

For Fy2024-25, I would like to switch to New régime income tax slab.
Is new tax régime allows U/S 80 C dedution for LIPs, ELSS MF etc.


KV Venkateswaran

I worked as an IT consultant and TDS was deducted on the consultancy fees and the TDS certificate was issued to me.

The net of TDS consultancy fees was not paid to me and therefore I filed a suit in 2011.
In 2024 February the matter was partly settled by the court after 13 years.

The court fees was also received and interest received at 6 % on the settled arrears.
1. Under which section should I report this and get tax exemption,since TDS is aready paid and filed by me.
2.How do I show this amount which is received in the current financial year but is for fy 2008-09
and TDS deducted and tax returns filed by me. I have spent amounts on legal charges and other expenses on several visits to the court. Can I claim these expenses ?


kollipara sundaraiah

Sir,
Sec 44ada provision itr filed person books of accounts maintained mandatory or exempt.


Chandrasekhar Kandiraju

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 with condition that if funds available then! Please therefore inform how the capital loss of debt is booked for relevant assessment year. 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?


Anand Prakash Garg
03 May 2024 at 20:24

Non résident status

I am an NRI since year 1995. Now I have plan to stay in india every year 180 days and balance days in oversees with my son for next three years (Financial year 2024-25 to 2026-27).
This will help me to divert my NRE fixed deposit money to other investment like shares, MF etc and save income tax in my hand.

Will I will be treated as NON RESIDENT ?
Is my under standing correct for tax planning.


kollipara sundaraiah

Sir,
Assessess running a proprietorship firm personal expenses rs:1,20,000/- lacs
Question:
Personal expenses including total amount rs:1,20,000/- or 1/15 share amount including sole proprietorship in itr.