Dear Sir,
While i am going to download from 16B, it show "No data available for specified search criteria.".
Kindly guide me.
Thanks
Faiz Ahmad
faizahmadazmi@gmail.com

I am a salaried tax payer, obtained form 16 too.
1, I have claimed the PPF amount upon the death of my wife in the month of march 2020.
2. I was given a demand draft and the same is encashed in my account, amount being 9 lakhs 45 thousand.
3. Immediately I have initiated two fixed deposits of 1 lakh and 8 lakh, in my sons name (Son aged 20 years), at his SBI account. Son is a student and has no income. He earns interest on the FD of the said amount.
Questions;-
1. Will the amount be taxable for me? if yes what is the tax payable, if no under what section should I claim exemption.
2. Will my son eligible for the said amount of the initiated FD? if yes what shall be the tax amount?
3. Will he have to file the ITR and what number is it ITR1. under which section should tax exemption be claimed for my son for his lifetime first ITR1?

I am to prepare and file ITR1 on my own at the efiling site.
Please guide me regarding my each query in detail.
Thank you,
Mr. Shekhar Salunke
email; shekharsalunke1@gmail.com

What is minimum tax will payble in partnership ITR a.y.20-21.

Assess joint loan amount rs:30 lacs from bank(15+15).One Assess bank loan repayment rs:30 lacs( own 15 lacs +15 lacs brother)
Question:
Assess joint loan repayment one person paid accounting treatment in books.

SIR
Q.NO.1
I Know that the proprietor need not open separate bank account for his business in his trade name of business. How ever, I want to keep the business transactions in separate account on my trade name. Can I do it sir?
Q.No.2
I expect the turnover above 50 lac in this financial year. Which ITR return to be filed?
Q.No.3
Some of my customers give cash for his purchases maximum as they are mostly buying for his own use. Any restrictions are there?
guide me plz
thanks in adv

I transferred a society flat,acquired in 2009 in Gurugram Haryana for Rs 55 Lakh to my NRI son in 2015 under blood relation transfer scheme where in no stamp duty is chargeed on transfer of property among blood relations.I have following querries-
1 What will be buying price at the hands of my son?
2 Since my son is abroad and in corona times travelling is not safe,if I have power of attorney from him to sell the house,my understanding is one can not transfer ownership on POA sale in which case I will not get a buyer.Any solution to this problem.
3 As and when the flat is sold,is he entitled to invest under sec54 (infra bond) to save tax?
4 In the alternative,can he buy a flat from her mother to save CG tax
Thanks
S C Goswami

SIR
I should file the ITR both for me and my business having turnover of more than Rs.2 Crores. Plz tell me the last date of filing for ITR for 2019-20.

thanks in adv

What is difference between partnership firm and LLP

I am a central public sector employee retired from service this year, whether leave encashment amount (8 lakhs) received is fully exempted from income tax at the time of retirement?

Hi,
One of my client (Individual) had invested in the NCDs of Dewan Housing finance. However post their default, client has not received even the principle on maturity. Is there any benefit in Income tax that they can get against this loss? what are the relevant regulations?
Thanks,
Rohan