Sir/Mam,

Property Purchasing in the name of Wife and Husband both taken loan from purchase of property. Registration of Property also Wife and Husband name.

How to pay 194IA tds on Sale consideration both names or Single Name

Please Kindly explain how to pay TDS 1941A if vendee is Two members

Thanking you,

Hello Friends,

Is there any provision/rule which restrict only the Directors/Managing Director is authorised to sign TDS returns. Are there any cases of non directors viz. tax heads can file TDS return using their DSC ?

Regards,
Manoj

For the Assessment Year 2022-23, Mr A received an email regarding proposed Adjustments under section 143(1)(a) from cpc-income tax india regarding the deduction claimed under section 80GG for which aform 10BA was not filed. Assesse discovered there are other errors in the filed return that needs correction. He also discovered that 80GG was selected in error. In response to 143(1)(a), he agrees to proposed Adjustments.
He files the revised return on 10th December u/s 139(5), he has received intimation under 143(1) for demand of Rs 5,735 (5,000 under section 234F and Rs 735 under section 735 ).

1. Is 234 A and 234 F applicable in the above case?
2. Whether Mr A should make the payment as it is less amount ?
3. What should Mr A do?

I am not able to generate Form 27A through RPU version 4.4, pl help

Hey!
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Our query is that, is this idea legal? Means, are CAs allowed to do this kind of thing like listing themselves on a website... Also, if it is possible, will you be looking forward to join us on our journey?

DURING THE FINANCIAL YEAR 2021-22 AN ASSESSEE WHO PURCHASED CRYPTO CURRENCY FOR RS.100000 AND SOLD WITH IN A MONTH FOR RS 108550 . hE IS HAVING TAXABLE INCOME . tAXABILITY OF CRYPTO CURRENCY FOR ASST YEAR 2022-23? AT WHAT RATE AND UNDER WHICH HEAD?

Respected Sir,

Can we claim interest on housing loan on account of income from house and property even after the due date as the 31st July has gone? Whether still there is a chance to avail the benefit of the negative income?

PLEASE GUIDE ME AND OBLIGE.

1. Does sale of rural agricultural property amounting to approx (1.5 milion INR) taxable under any provisions of Indian Taxation Laws?
a.) If YES, @ what %?
b.) If NO, is it required to be shown in ITR filings?
2.Does the sale proceed needs to be shown in ITR, where and which form to use?
3. If the sale amount is transfered to bank account through any of the online deposit mode. Will it attract notice from Income Tax Dept. for depositing amount of 1.5 million in a financial year?
a.) Or the notice is just served for cash transaction of and above 1 milion.

P.S. The account holder is still pursuing studies & not earning.
Does the account holder need to file ITR for sale proceeds?

for the past three years i was getting the tax audit done -- 44AB and filing the ITR from my CA
though not mandatory/applicabe as per law -- this year also i have income from share market transactions
(cash and F & O) and other income like interest/dividends/professional (lawyer ) etc
can i discontinue the tax audit and file my ITR in the normal manner. thanks
of course the late filing will be attracted. PLS guide

I work for a MNC in India which has it's stock listed on NASDAQ in USA. I get RSUs of the US stock as a part of my compensation (listed under perquisites in form 16).

Scenario:

Note that my mother, father and the HUF have almost no income.

I gift "x" amount of those vested stocks to mother, "y" amount to my father and "z" amount to my father's HUF.

Assumptions/Understanding:

(1) These gift transactions would not trigger any tax payment at both ends (giver and receiver) as they are exempted relatives.

(2) Given this transaction happens electronically (from my trading account to the receiver's trading account), a record is always available of this transaction so a Gift Deed is not required.

(3) Since the gift is not given to the spouse here so clubbing provision don't apply here.

(4) NASDAQ listed equity is counted as unlisted shares and STCG at tax slab is applied for sale under 24 months, LTCG at 20% with indexation after 24 months applies.

(5) The cost and date of acquisition of the gifted stock in the receiver's hand would be the same as me (the giver).

(6) If my mother sells "x" amount of stocks within 24 months of the date of acquisition (not gifting), STCG would apply on the profit derived from "x" amount of stocks (sale price - cost of acquisition) as a part of her normal income as per her tax slab. And given her income is almost negligible that profit (upto a max of 10 lakhs) gets taxed at a rate much lower than 34.32% (had I sold them, I would have paid at 34.32% or had I waited for LTCG to kick in, 20% with indexation benefit). Is this understanding correct?