Hi, I need help on the payment option I have selected after filling form 26qb. After filling form 26qb and mentioning the 1% Tax on my new home instalment payment made, I selected my bank and entered the amount against fee instead of Income Tax. Income Tax0.00 Surcharge 0.00 Education cess 0.00 Fee (Form 26QB) 92000 Total 92000 .Then after reading FAQ's in tin-nsdl, I realized that I was supposed to enter the amount in Income Tax as below FAQ is mentioned in it. https://www.tin-nsdl.com/tds/TDS-FAQ.php I have entered tax amount in Fee, I am unable to generate Form 16B from TRACES website? The TDS amount as per Form 26QB should be entered in the field ‘Basic Tax’ (Income Tax) on the Bank’s web-portal as TDS certificate (Form 16B) will be based on ‘Basic Tax’ (Income Tax) only." what do I need to do now. They have not given any solution in FAQ. Won't I get my form 16b. I called my bank but no one is sure what needs to be done and the tin-nsdl customer number is always coming busy .

What is the way out? How to get this sorted?

Our client doing consignment business, He received consignment commission(194H), Shown as a part of Business Income(44AD). Message came from CPC by asking clarification that no other source income shown while 26AS shows Commission income. What will i do?
Is it okey to show commission income(connected with business) as a part of Business income?

My one of client TDS deducted u/s 194LA for compulsory acquisition of land by government for RS 53 Lacs on which TDS deducted @10% RS 5.30 Lacs. Land is inherited property received from father in 1978 and father acquired land 50 years before. Now what will be the long term capital gain implications in this case? What will be the cost of acquisition in this case? There is no value available for calculation of cost of acquisition. Can I take exemption of long term capital gain arise in this case by investing in residential property u/s 54F or else investing in bond u/s 54EC. Please reply

Sir. Iam business man . I have purchased a goods from one registered seller of Rs-150000,180000 and 190000/ on different on .Total goods I purchased from him of Rs-520000/ .Now I want to pay it in cash. I paid him of Rs-10000 per

day for whole amount of Rs-520000/ . Can I do it .

Please reply

Assessee has income from Agriculture. New machine purchased for the field costed Rs 200000. Subsidy received from government later of Rs 75,000. What shall be the accounting treatment / asset value in books?

Dear Sir/Madam,
What should be the Income Head when a person getting Pension from State Govt.
While Filing ITR 1 for Assessment Year 2018-2019 there is only Head for mention as Salary and the other head is Income From Other Sources
But may I mention the Total Pension Amount received under the Head Salary ?
Pls. guide me for the same.

Dear Sir/Madam,

I have a proprietorship firm in the last F.Y. 2016.17 (A.Y 17-18). Advance Tax Rs. 55,000/- & TDS Rs. 6108/-. But we have not create any provision for Income Tax.

After assessment of this year we submitted ITR & refund of Rs. 3120/- credited in our bank a/c in Jan 2018. Our net tax liabilities around 58,000/-

My question is......... How we can adjust above TDS & Advance tax in this current F.Y. 2017-18 (A.Y. 18-19) in tally?

Also confirm to me, Provision of Income Tax under which head (Capital, Current Liabilities or P & L A/c).

Thanks & Regards

Harendra Singh

can i file income tax return for the financial year 2016-17 for a govt employee only having a salary income for refund purpose this is being first itr of that person suggest me....

Hi,
Please advise how can i show the rent arrears received from builder on account of delayed possesion in my income as i have not actually let out the property and have no intention on renting the premises in future.

Regards,
Abbasali.

R/All

A partnership firm having total sale in f.y 2017-18 is Rs- 25,28,707.00

Net profit will be approx- 58,000

do we need to get our account audited or we can file our ITR without audit.

kindly suggest

regards