As a government employee with an opening balance of 4,100,000 rupees in my GPF fund at an interest rate of 7.1%, I invest 20,000 rupees monthly. I'm considering taking a loan of 20 lakh rupees with an interest rate of 10.80% for 6 years. Should I take the loan or withdraw the same amount from my GPF fund? I'd appreciate suggestions from an expert.

I have purchased an apartment and submitted form 26QB for a joint seller property. The seller took payment in one person and buyer deducted the tds on that payment to that one person on the request of seller. Now, after 1.5 years seller wish to correct TDS 1/2 & 1/2 of both holder of property. Due to credit of entire TDS on one seller, income tax department is wrongly calculating previous year tax. Is there any solution possible?

If i have purchased goods of rs 100 + gst 18 = 118 , my supplier allow me to sell at cost and reimburse me the the profit of 10 rs in each sale .
The reimbursement of rs 10 is shown as direct income or indirect (treating it as incentive) income tax and also suggest me gst implications from my side on this 10 rs.
If i treat it as direct income my income tax liability is lower . If i treat it as indirect my income tax liability would be highr

Respected All Experts,

I want to know about tax liability on received of Rs. 9 Lakh of my share in my Bank account from sale of inherited property ( Father) which total cost of sale was Rs. 45 Lakh in Financial year 2020-2021. I am salaried person and i filed ITR-1 in financial year 2020-2021 only for salary income. I have not mentioned in ITR about received amount of Rs. 9 Lakh which was also showing in 26AS. I continued filed ITR-1 for salary for the financial year 2021-2022 and 2022-2023 regularly.

Now in Financial year 2023-2024 I purchase a flat of Rs. 28 lakh in March,2024 from Builder but possession of flat will be in june,2024.

(1) My query is to know about any tax liability arise due to not include income of sale of inherited property (father) in ITR of F.Y. 2020-2021 ?
(2) Second How I treat this Income received in F.Y. 2020-2021 in Current financial year 2023-2024 which ITR to be file in July,2024 ?

Thanks & Regards,

MONU P

tds deducted during the March24 and what the tds deposited due date for that

Dear Experts...
I have a query that one seller not linked his PAN to Aadhaar.

But buyer does not aware of this PAN inoperative, deducted 1% TDS on immovable property paid and filed 26QB now buyer got demand notice of balance 19% (20% for inoperative; 1% - already deducted)
now my query is seller now linked his PAN to aadhaar.

How to clear this demand? Kindly help me.

I have Shares LTCG of RS 2 lakh. That means LTCG tax would be 10% of (2 lakh - 1 lakh) = RS 10000
My query is does LTCG goes through double tax i.e. LTCG Tax and Income Tax as per slab rate.

Hi, This is regarding opinion on the eligibility of taxable exemption against the DA on Business trip.
One of our member went for business trip for a week to Germany and in between he went to personal trip
spend amount on air ticket from the portion of DA amount
Now requesting to exempt the same air ticket amount considering part of business trip.
would the personal trip can be considered part of business trip and provide exemption- Request conclusive opinion.


Regards
vijay

Hi, I purchased a property for 60 lacs. However, I mistakenly put 50 lacs are sale consideration and made 1% TDS on lumpsum basis. Can I file a new 26 QB for the balance amount. And what payment type should I select- Lumpsum or installment, for the balance payment.

I am filling form 26QB for TDS on sale of property. I am individual and purchased flat from Godrej (Company). While filling form 26QB it is automatic taking major head as 20 (Companies) instead of 21 (Other than companies). Please guide what to do.