IF ORDER PASSED BY CIT(A) AND NO APPEAL FILED AGAINST ITAT FOR CIT ORDER UPTO 22.07.2024, THEN IN FORM 1 SUCH APPEAL STATUS DEEMED AS AGAINST CIT?

Dear Sir,

we have deducted TDS @ 2% under 94 C, but his PAN is inoperative in the month of Dec 2024 bill booked.

now he linked with aadhar, becomes operative,

we are liable to deduct 20% or 2% in Dec 2024 because of we are filing TDS return

please confirm

Mr Amit and his two friends Rajesh and Rakesh are planning to invest in Alternative Investment Fund (AIF).
They are planning to invest this amount of Rs 1 crore.
The minimum requirement to invest in AIF is Rs 1 Crore (i.e. 1,00,00,000)
They decided to form “Joint Venture” and open a bank account in the name of “Joint Venture” and collect money invest in AIF.

Income Tax Treatment of " Joint Venture"
Query 1 - Under what head income of Capital gains, interest income and Dividend Income from investments will be taxed in the hands of “Joint Venture”?

Allowable Expenses for " Joint Venture"
Query 2 - Whether “Joint Venture” allowed expenses incurred in earning Capital gains, interest income and Dividend Income from investments?

Tax Treatment of Income Distribution to Members
Query 3 - Under what head distribution of income of Capital gains, interest income and Dividend Income will be taxed in the hands of Mr Amit, Rajesh and Rakesh?

Allowable Expenses for Members
Query 4 - Whether Mr Amit, Rajesh and Rakesh allowed expenses incurred in earning Capital gains, interest income and Dividend Income from investments of their “Joint Venture”?

Deduction under Section 54F for Capital Gains from Investments in AIF
Query 5 - Whether Mr Amit, Rajesh and Rakesh allowed exemption under section 54 F for Capital gains from investments in AIF?
Query 6 – Can the investment in AIF be made in the name of “Joint Venture”
Query 7- Can “Joint Venture” be named in the combined name of three investors i.e. Mr Amit, Rajesh and Rakesh

please let me know as to how to change mobile no to whom the otp goes to while filing TDS return...

I haven't filed return for AY 2020-21 but later filed the return as response to Notice under Section 148. No tax because of Rebate but paid ₹1000 aa fine. Now the assessment proceedings closed , I got a penalty notice under Section 274 read with 270A. No underreporting of income from my side. I have filed with the exact amount of income in income tax notice . But for the AY 2020-21, I filed return for the first time as response to Notice under Section 148. Whether I am liable to pay the penalty under Section 270A or can I drop it as per Section 270AA. Whether Form 68 applicable?

In which form to be submitted application under 264

IF WE FILE FORM 3, THEN IT IS DEEMED THAT APPEAL IS WITHDRAW?

Sir.
Let's me know if there is any limit of turnover to file income tax return for parnter ship firm.

Hello everyone,

A ltd is 100% subsidiary of a german company incorporated in the year 2022-23 (captive unit) to provide IT services to its parent/group companies from India.

they are billing @ cost+13%. However consultant has opined that industry margin is 18-20%.

My question
1. Is it advisable to file application before AAR ?
2. I am worried that if order is unfavourable then AO may make primary adjustments for 22-23 and 23-24 as well even though we have TP report from reputed auditor ?

IF ASSESSMENT ORDER ISSUED UNDER SECTION 147, AND THERE IS MORE TAX AMOUNT THEN ACTUAL TAX SO CAN WE GO FOR 154 RECTIFICATION AGAINST SUCH ORDER? IF YES, THEN WHAT IS PROCESS?