Hello all experts
Pl guide me how can i take nps benefit deducted by my employer.
In case I am an employer then what is procedure to make payment of NPS. How can I make salary slip of our employees.
REGARDS
Sanjay

am a proprietor of gst firm and I took advance of Rs5lakhs from a party with condition that the party will give other 15 lakhs with in 30days for supply of goods .If party fails to give the money I will forfeit Rs5 lakhs.now party failed to give balance money.I want to show 5 lakhs in profit account.how this money will be treated by income tax for taxation purpose.my basic income is less the 7 lakhs rupees.will this 5lakh rupees come under basic exemption.pl explain with details .

hii i am government employee working in REVENUE AND FORESTS DEPARTMENT MANTRALAYA received pension of RS . 2139374 after deducting tds of rs 5,00,000 for the F.Y. 2023-24. pension received is on my retirement.
please help me what to do??

Dear Income Tax Experts,
In our organization we provided a CAR to the Management Employee. For that we are paying monthly fixed fuel amount without getting a bills from the Employee. In this case we considered the monthly fixed fuel amount is taxable and deducted the TDS. But, all employees are objecting for deducting the TDS.
I am seeking an advise from the expert for resolve this issue.

An assessee bought a rural agricultural land in 2011-12 as it is a rural agricultural land it does not classify as a capital asset, As on today's date i.e. 19/03/2025 rural agricultural land only. Suppose he converts the land to a residential land on 01/04/2025 (It will classify as a capital asset) and sell the whole set of Residential land in 2025-26 only.
Query: What would be the period of holding, would it classify as LTCG or STCG? (As the assessee is not in the business of Real Estate or developing or selling of land and not having any more of such projects we won't be taking this income in the head PGBP)

After reading a few questions on tds under 195, I got a few questions, if anyone can kindly help me understand.

1. If I purchase courses from coursera for personal use. The invoice mentions their foreign address. Do I need to deduct TDS under section 195. I have also purchased a few courses from udemy but the invoices mention Haryana office.
2. As a part of the same question, do I need to deduct tds for payment to Netflix and prime video. Both of the invoice have the India address of Netflix and prime.
3. I have also booked travel air tickets from Agoda and few sites which also have their foreign addresses in the invoice. Do I need to deduct TDS in this case?
4. Also, as an individual, what should I check to know if I need to deduct TDS?

As an individual with no audit or anything, is there any scrutiny for these things

Foreign holding company transferring its holding in shares of Indian company to an another foreign company.

Whether provisions of TDS applicable in this case? Both the foreign companies is not having PAN.

Any case laws is there in connection with the same?

TDS implications for the Services to be provided by the various partners.

1. Nature of Services covered: -Collection agency services.
Fees: - Fixed % of collection fees on principal monthly outstanding.

2. Nature of Services covered: -
a) Completion of pre & Post sanction Documentation of the Customers.
b) Facilitating personal discussion (‘’ PD’’) and onboarding the Customers.
c) Identification of vendor/supplier/customers of Partner for the purpose of providing of
products by the Company.
d) Limit of loan approval and completion of post sanction documentation for Customers.
e) Tracking of Limit of loan utilization by the Customers.
f) All the ancillary services which are related to performance of services by the partner.

Nature of Fees Basis
Service Fees End Customer rate less hurdle retained by company.
Such service fee plus applicable GST will be paid on receipt basis only i.e.
based on actual collection amount received for that particular period of time
say, every month basis invoice raised.
Processing Fees To be retained by the partner. (Processing fees plus Applicable Taxes)
Bounce Charges Retained by Partner
Penal Charges Retained by Partner

BY MISTAKE ONE EXTRA TDS CHALLAN OF RS50000 DEPOSITED IN FY 20-21 FOR FY 19-20, WHICH FULLY ARE STILL UNUTILISED. MY QUERRY IS HOW IN FY 24-25 THAT 50000 CAN BE USED OR CAN TAKE REFUND FROM TRACES OR BANK

We maintain Employee Gratuity Trust account in bank. LIC credited gratuity amount in our Bank trust account.
In gratuity trust bank account unclaimed or un paid huge amount lies from 8 years. In that gratuity trust account bank interst credited.
Now we want to transfer interest earned amount to our business bank account and to show int. income.
Is it right method, if no, then what treatment to be done.

Pl. Guife