Dear sir,
An amount showing wrongly in exampted income but it is taxable as per IT ACT FOR F. Y. 2019-20, we have received intimation 143(1)
For demand, by taking tax on said examted income so what we can do revise, rectify, or any other way

1) Assessee is an resident individual
2) He has 2 businesses and 1 profession, income from which is offered as Income from Business / Profession
3) He owns 4 residential houses
4) 3 houses are let out; either for full or part of the year
5) 4th hosue is self-occupied
6) All 4 houses are shown as Fixed Assets in Balance Sheet
7) Rent from let out houses is offered as Income from House Property

Query:
a) Can assesse claim depreciation in P&L account of Business / Profession?

I have received inherited residential flat of my father which was purchased at approx Rs. 18000 (Eighteen Thousand) in 1980 in mumbai, area 265 sqft. In 2007 the building got extended and so the flat extended by 110 sqft. I have transferred 50% share of my flat on my wife's name, now we are joint holders. If I sell the flat for 65 Lakhs how much tax will be calculated on sale of inherited property. Request you to kindly guide.

I received a demand of ₹600 for the current assessment year on 17/11/2021 by mail which I paid on the same day online with minor code 400. While submitting respose to outstanding demand on efiling portal, I tried to enter details of this challan, but everytime it is reflecting error like "an open challan with such details not available in the database for this financial year. " while this challan is correctly showing in my 26AS with minor code 400. What to do. I have also submitted grievance on efiling portal, but not solved as yet.

hi
i am using already claimed challan in next quarter also by mistake - it showing as over booked - how can i rectify the mistake and remove challan

We have shown wrong cgst and sgst amount in March 2021 balance sheet and filed it. How to rectify this? Which journal entries needed to be passed. Please explain?

Is there any Income tax exemption available to Units registered as NON STP with Software Technology Park of India

A persson was transferred to UK in FY20 and had NRI status. Before that, he was an Indian resident for 30 years. In FY21, due to Covid and remote working, he worked from India for the UK employer (he was paid in UK and TDS was paid to UK Govt). In FY22, he went back to UK and his status will be NRI in FY22.

Now in FY21, as per tax rules, he is tax resident both in India and in UK. He had transferred funds from UK salaried account to NRE account in 2021. Is the interest income earned on NRE account in FY21, taxable in India (when he was resident in India) or is it to be shown as exempt income in India tax returns?

Dear Expert ! My client is diamond dealer and obtain purity certificate from Authorised person, it is continue process , there is payment of 70,000/- during FY 2020-21, No tax has been deducted nor paid in due date. Pl clarify following 

In which section it is to be deducted
If not deducted not paid and wish to deduct now without making any provision in last year since no deduction, which qtr TDS return to be filled without late fee, Interest can be paid .
Or pl let me know strait I can  go for 30% disallowance.

Respected Sir,

One of our suppliers has added 0.10% TCS against the taxable value as follows

Taxable value Rs 1,00,000 ( Rupees One Lacs )
Add TCS @ 0.10% Rs 100 (Rupees One Hundred)
Add IGST 0.10% Concessional Rate Rs 100 (Rupees One Hundred)
-----------------------------------------------------------------------------------
Total Bill Value Rs 1,00,200
===================================================
Sales Turnover of the suppliers is above Rs 50 lacs and therefore TDS shall have to be deducted @ 0.10% against taxable purchase value.

TDS shall be paid by the customer after debiting supplier’s account by the TDS amount

Who will pay TCS ? Supplier will recover from us TCS

Supplier will pay TCS or Customer will pay TCS

Please guide me and oblige.