Manish Nagdev
04 August 2024 at 18:20

Tax on goodwill

Hello, how is goodwill taxed while selling a business and how can I save tax on that

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KSHITIJ Bedmutha
04 August 2024 at 12:07

Inoperative pan of seller


I have recieved short deduction notice due to inoperative pan of seller.(notice on 28 july, deal on 26 th july 2024)
I have paid only 10 percent of deal value ( approx 20 lacs) to buyer rest is to be paid by bank loan(which currently i have put on hold)
Short deduction is around 40 lacs.
Can I cancel this form 26 qb and ask the buyer to link his adhar and pan card
And file for new challan

My query is what happens to
1)my short deduction notice
2)What are the requirements to cancel challan.Will they ask for cancelled sale agreement deed
3)Is it the way out or i have to ask bank to pay tds from this amount and if i cut 40 lacs how many days can buyer get refund.
4) can i appeal to income tax officer after buyer links adhar pan card to revise short deduction notice
Thanks and regards

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hari
03 August 2024 at 13:52

ERROR MESSAGE FORM 27C

SIR,

I COULD NOT ABLE TO UPLOAD FORM 27C AS IT SHOWS DATE FORMAT ERROR. IN CSV FORMAT WHEN TRY TO FORMAT AS DD MMM YYYY . IT IS NOT WORKING. WHEN I RE-OPEN IT IS GOING BACK TO OLD FORMAT.
PLEASE HELP THANKS

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Ganesh Waghmare
01 August 2024 at 14:38

Form 15G/H TDS return

I want to file 15G/H TDS return, guide me how and when to file TDS 15G/H return by Employer or is filling of return compulsory.

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Nirmal Sebastian
30 July 2024 at 11:24

TDS 24Q-Zero Deduction

How to prepare 24Q in RPU with zero deduction of TDS for generate for 16 Part A

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SIDDHARTH MAHESHKUMAR SHAH

if any of employee's PAN Number is not linked with his Aadhar on Income Tax Portal and this employee falls under the Tax Slab of > 10 Lacs, then What is the liability of Employer for TDS deduction from his Salary?

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V.Ch.Venkateswara Rao

When I have tried to file correction statement it was rejected due to Line No 2 - Invalid Previous RRR Number.

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Shalini RN
06 August 2024 at 12:25

TURNOVER MISMATCH WITH 26 AS

We are registered GTA. We had raised an invoice for the transportation charges provided during march 24 in april 24 (to customer to whom we provide continuous service through out the month). And accordingly we have filed our GST Return. But our customer has booked the provision for the services taken and has filed tds return. Because of this, there is a mismatch with our books of records and 26AS. If we take in to account of the provision and pay income tax, then there would be mismatch with our turnover as per GST return. What can be done in such scenario?

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Shalini RN
06 August 2024 at 12:25

Difference with Turnover and 26AS

We are registered GTA and we had raised our invoices for the transportation charges related to March-24 in the month of Apr -24 and accordingly GST returns were done. But one of our customer has taken provision of 26 lacs and has filed his TDS return. Now our auditor is telling that we need to pay income tax on that 26 lacs. But then there will be difference in turnover with ITR and GST returns. What is the solution for this. If we pay income tax on 26 lacs then the turnover mismatch will continue for next financial year also as that customer will again book provision in his books and file tds return accordingly. Please advice what we can do for this mismatch

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Prajakta Potdar
06 August 2024 at 12:25

Irregularities in filing form 10B

A statutory body is enacted as per Advocate Act 1961. As per Supreme Court Judgment, income of statutory body is exempt u/s 10 (23 A) and section 11.

Since AY 2020-21, Form 10 B is mandatory to be filed. Due to lack of knowledge, Form 10B was not filed in time.

Income tax sent notices since AY 2020-21 , 2022-23, 2023-24 and made all income taxable. How to solve all the problems. Please guide.

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