We have a Provisional Registration of form 10AC in Section 12 for A-Y 2024-25.
So will we be applicable to file form 10A before 31st March 2024 or after that.
When can we file it?

Will deemed be attracted in the following arrangement:

A pvt ltd company transfers money in partnership firm as its capital contrirbution in the capacity as a partner and the same amount is withdrawn by another partner who is a director and shareholder in the said pvt ltd company.
But shareholding is less than 5%

If not deemed dividend, does any other provisions/consequences apply in the said arrangement?

Hello I have queries regarding taxation on property.

In this financial year, bought an Under-construction property - joint ownership - home loan EMI ongoing.

1. Is the principal component of EMI deductible under 80C for under-construction or is it deductible after completion certificate in 5 installments like the interest component.

2. After discussing with the developer, the overall property value has decreased . However , since sale agreement was registered and subsequent TDS were paid on demands, what will happen to the remaining stamp duty (on which value will the rest stamp duty be charged on) and TDS correction in 26QB?

Condonation for delay in submission of form 10BB has been allowed by the Commissioner of Income Tax (Exemptions) for the A.Y.2023-2024. Please let me know how to inform to the CPC

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.

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.

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.

Hi Team,

TVS Holdings redeemed NCRPS on 22-MAR-2024.
Refer news: https://www.thehindu.com/business/tvs-holdings-plans-to-redeem-ncrps-on-march-25/article67899429.ece

On 16-JUN-2023 , 232 NCRPS were credited on my trading account.
On 22-MAR-2024, I received Total Amount : RS 2528.8

Breakdown of the amount:
Redemption Amount: RS 2320
Coupon Payment: RS 208.8

Could you please confirm how above amounts would be taxed?

As the NCRPS are redeemed within a year (i.e. matured and NOT SOLD) , is Redemption Amount : RS 2320 STCG and taxable as per Income Tax Slab rate?
Also is Coupon Payment taxation same as Dividend/Interest? i.e. is Coupon Payment of RS 208.8 STCG and taxable as per Income Tax Slab rate?

I have payment due of rs 25000 since fy 2021-22, supplier is a trader of chips . Supplier fulfils criteria of msme . In this case do i need to make payment before31-3-2024.


And in case supplier has closed down business how can i make payment . To that msme if it is required to be paid

Dear All,

Please confirm the Applicability of Sec 194M.

Taxable Amount 48,55,424
Add: GST Amount 8,73,976
Total Invoice Value: 57,29,400

Please advise applicability of TDS u/s 194M and tds amount
please share any case laws reference

Suman Kumar
Thanks