Dear Sir,

I am a Govt. servant & I have sold immovable properties in multiple parts which were inherited to me by my mother after her death, earlier which had been shown by her in her ITRs as a business income u/s 44AD. I want to show the sale proceeds arising out of sale of immovable properties as a business income instead of showing it as capital gain but showing it as business income instead of capital gain does not have any impact on my Govt. job & this activity is also not that kind of business which involves purchase & sale with the intention of earning profits since these immovable properties had not been purchased by me, these were inherited to me after the death of my mother and I am left with no option rather than selling it.

Kindly help me in this matter whether I can show this as business income instead of capital gain without having any impact on my Govt. job.

I am individual and I have paid Rs 30 Lakhs to packers & movers and also will be paying equivalent or higher amount in current FY. I have not deducted TDS earlier u/s 194M. But after paying 2nd instalment of the same i will excees the treshold limit of Rs 50 lakh i.e. payment to resident contractor. I will be deducting tds @ 5 % excluding GST on total amount that is 30+50 i.e. Rs 4 Lakhs and will be filing form 26QD.

Further there is also chances for more remittance. So i need more clarification regarding filing of Form 26QD.

Do i need to file form 26QD each time for all subsequent payment?

Sir,
One of the it person maintained three banks 1. sb account balance rs:24,568/-
2.bank sb account balance rs:56,356/-
3.bank sb account balance rs: 89,455/-
As on dt: 31-03-22.
Question:
Assessess above mentioned all banks
accounts information transaction data AIS show compulsory.

One of my clients is a individual who is paying a good amount towards of transportation of household goods. I want to whether he needs to deduct tds on amount payable to Packers and movers ( who isPvt Ltd co).
He doesn't have TAN no .
Request you to throw light on above with respective provision

what is the process to pay 20% advance payment for appeal in installments ..?

Hi,

Vendor has raised a invoice with 18% GST with 998311 SAC code for the services provided by his employees to our compnay as a contractors.
While making payment to vendor company do we need to deduct TDS?
Because we dont pay salary to his employees directly, vendor company makes salary payment to his employees.

please clarify

Thanks
Sai

what is the accounting proceedure for accounting subvention income invoice received from bajaj finance ltd to a dealer dealing in electronis?is TDS u/s 194h is applicable while remitting by the dealer to bajaj finance limited?

Dear Sir,
I would like to have clarification about Rent payable for the use of premises by husband. The premises which is in the name of mother & wife was used by husband and has been paying Rent in proportion of share of property to both wife and mother

Now in last year wife expired and the share of wife in property was transferred to husband by virtue of probate obtained in the month of March 2022

In every year March, Husband pays rent to both wife and mother for the entire year but considering the above scenario, whether the rent is payable?

I have doubt because probate order came in the month of March 2022 wherein wife was expired in the month April 2021.

Do entries to be passed in accordance with probate and No Income Tax return be filed in case of wife ?
or Income Tax return be filed for last time wherein husband will be representative Assessee ?

Please help

Regards

Tribhuvan

section 11(1) states 15% of income. income means receipts or net after dedction of application of receipts?
i feel, income means after exps not after application.
for example which is correct ?
rs. 100 gross receipts,
rs. 15 exempted
rs. 85
less rs.60 spent
so rs. 25 is taxable
OR IS IT BELOW?:-
100 Rs. received, 60Rs. spent, so 40 and reduce 15% of 40 = 12- 28 is taxable?
IS 25 TAXABLEOR RS.28 TAXABLE ABOVE>?
I FEEL 25 IS TAXABLE.

Return of income U/s 139(1) in itr-3 had duly uploaded and e-verified on 05.09.2021 for the A.Y. 2021-22. ICICI Bank Paid/debited amounts shows above taken as PAID interest income and the same has taken in Income from other sources. Have I did wrong? Kindly let me procedure to show income paid/debited amounts u/s 206CQ in ITR. If the amounts debited by bank, what to do now. Regards, Tarak Kumar Roy, 150/1/1, Banerjee Para Road, P.O. Naihati-743165, West Bengal