Dear Experts

The deprecation which i calculated below is as per the companies act 2013.

Rate of Dep % 45%
Life 5
Balance Life 5
Fixed asset 5,00,000
Salvage 25,000
Assest value 4,75,000
Dep 2,25,360

In this instance, will full depreciation be claimed within 2 years?

Thank you
Vijith T K

Dear Sir,
I have query regarding that can we claim ITC of electrcial material purchase for warehouse of company?

Hello
can clarify the below mentioned Query
whether Clause 27(a) is applicable to all registered business dealer under GST or it is applicable to only 5 products dealer petroleum crude, diesel, petrol, aviation turbine fuel, natural
gas and tobacco for ITC utilization as it is not clearly mentioned for ITC related part under Tax audit guidance note

Hai,
Till now , i am unable to download ITR 3 filed form for AY 2024-25 even after 7 days after the due date.
Anyone facing the same glitch?
I raised grievance also, no one is bothered to reply also from past 5 days from Income tax team.

Error Description
The gross receipts/income, on which tax has been deducted, are to be entered in the schedules under the respective heads of income, as they are assessable in the year in which the credit for the TDS is being claimed.

Probable Resolution
If the receipts as per Form 26AS is not offered in the year in which the TDS credit is claimed, then the claim of TDS will be restricted on the basis of proportion of the receipts offered in the return of income to the receipts in Form 26AS, as per Rule 37BA of the IT Rules. The correction of this defect is to be made by filing the corrected return by offering all the receipts as per form 26AS or by claiming the TDS proportionately as above.

On MCA 21 in COMPANY’S MASTER DATA the Date of Balance Sheet is showing as 31/03/2019
AND Date of last AGM is showing 30/09/2019. The status of the company is showing as active as on today 07 Aug 2024. there are no documents showing in VIEW PUBLIC DOCUMENTS from 2020 and thereafter. One has to file a civil suit against company for recovery of money Rs. 900000(Nine Lakh) so we want to know Whether the company is liquidated or windup or not as on today. And from where we get these exact information?

Sir/Madam

following notice received by email.
Assessee has salary income, Arrears salary received for the fy-2022-23 & 23-24 and form 16 is received salary including arrears salary of fy-2022-23 and form 10E is not issued by employer-

Please guide me

Error Description
The gross receipts/income, on which tax has been deducted, are to be entered in the schedules under the respective heads of income, as they are assessable in the year in which the credit for the TDS is being claimed.

Probable Resolution
If the receipts as per Form 26AS is not offered in the year in which the TDS credit is claimed, then the claim of TDS will be restricted on the basis of proportion of the receipts offered in the return of income to the receipts in Form 26AS, as per Rule 37BA of the IT Rules. The correction of this defect is to be made by filing the corrected return by offering all the receipts as per form 26AS or by claiming the TDS proportionately as above.

One of my clients is a trader in computer goods. Purchases were made from HP India Sales Private Limited. In 26AS Under Section 194R - under paid/credit Rs.61,160 is appearing and TDS of Rs.6,116.07. Kindly suggest me mode of treatment of this in books of accounts.
Waiting for reply
R S Sai Kumar

Sir/Madam

following notice received by email.
Assessee has salary income, Arrears salary received for the fy-2022-23 & 23-24 and form 16 is received salary including arrears salary of fy-2022-23 and form 10E is not issued by employer-

Please guide me

rror Description
The gross receipts/income, on which tax has been deducted, are to be entered in the schedules under the respective heads of income, as they are assessable in the year in which the credit for the TDS is being claimed.

Probable Resolution
If the receipts as per Form 26AS is not offered in the year in which the TDS credit is claimed, then the claim of TDS will be restricted on the basis of proportion of the receipts offered in the return of income to the receipts in Form 26AS, as per Rule 37BA of the IT Rules. The correction of this defect is to be made by filing the corrected return by offering all the receipts as per form 26AS or by claiming the TDS proportionately as above.

Hi all,

One of my friend did job in few companies. EPF contribution (both side) was successfully transferred to my last EPF Account & it shows balance of EPF & EPS also. Side by side my other 4 EPF Accounts showing only EPS (Pension) balances (may be only PF amount was transferred & not the Pension balance).
Total service period (as shown on Unified portal) is 6.50 years, my present age is 55 years and last contribution was in Aug 2021. My query is :-

1. Up to what period Interest will be paid on above EPF balance?
2. How to transfer Pension balance (showing in other 4 accounts) online / offline?
3. When I withdraw my final PF balance, then how to withdraw the Pension balance?

Thanks in advance.