IN MY HUF my two daughters are CO PERSONS AND BOTH ARE married, MY AGE IS 67 and HUF ACCOUNT I have ONLY SHARES.AND SMALL AMOUNT OF CASH only, which VALUED RS. 1.5 CORE
i WANTED TO CLOSE MY BUSINESS.i WANTED TO GIVE MY ALL FUNDS TO MY SISTER AND HIS only SON AS SHE HELPED ME LOT AND MY TO MARRIED DAUGHERS.
DO I HAVE TO CLOSE HUF AND TAKE CAPITAL IN MY PERSONAL ACCOUNT?

In the last FY, i had no income from any source but had invested in stock market making intraday losses of around 70K. Which ITR can be filled and is it mandatory to file return ?

I wish to understand if professional tax is applicable on business turnover or only on the salary paid by any small business to their employees ?

Suppose I have 1 staff only and salary paid is 6000 per month .

Am I suppose to pay any professional tax ?

Hi Team,

I was working for 4 year dedicatedly in Germany as a local employee there with no connection to India. 4 month back I resigned and Move back to India and started a job here.

Now since I use to get 25 leaves in a year, I was unable to finish 16 leaves and those were enchashed along with my salary. Can I claim deduction for that Leave Encashment under 10(10AA)? Also I have a proof as a salary slip for the same. Will that work if I need to upload it somewhere?

Hello Respected CA,

I hold some Foreign stocks Listed in Nasdaq. Now since it is a foreign holding I need to fill schedule FA Table A3.

Table A3 have 2 additional details. 1) For capital Gain(Total gross proceed from sale or redemption of investment during the period) 2) Any dividends earned (Total gross amount paid/credited with respect to the holding during the period)

Now as per the document, Schedule FA details need to be entered as per Accounting period and for which it is Jan - Dec since US follow calendar year. Also dividend received were already tax deducted. But since we need to show the dividend in "Schedule OS" with special rate and it is DTAA case where we also need to show quarterly breakup (in point 10).

Query is Should we show dividend of April - March or Jan - Dec?
Also Schedule FA should we add Jan - Dec or April - March dividend?

I am trying  to apply for refund reissue through Create Refund Reissue request through the it portal, since last two days. But it is giving the following error:

Error : Something seems to have gone wrong while processing your request. Please quote error number ITD-EXEC2003Life Cycle error when you contact customer care for quick resolution.

Is anyone facing the same issue ?  Any idea how to solve this ?

Dear Sir/ Madam

I am a Central Government Employee.
I have Purchased a Laptop from A TATA Enterprise Croma with Invoice in my Name and GST Tax Rate @ 18%.
It was Purchased on 25/03/2021 and the Laptop was delivered on 29/03/2021.

Condition for Claiming LTC under Cash Voucher Scheme

1. Goods Should be Purchased on or before 31/03/2021 - Purchased on 25/03/2021.

2. GST on the Goods Should be @ 12% or More - Goods Purchased @ 18% GST.

3. Invoice Should be in the Name of LTC Cash Voucher Scheme Claimer - Invoice is in the Name of the Claimer.

4. Goods delivered to the Claimer and to the Claimer's Address on 29/03/2021

5. Payment Should have been made on or before 31/03/2021 by the Claimer / Spouse - Payment made from Spouse Account on 29/03/2021.

Payment made as follows.

1. Mrs. - A - Employee - the Claiment of LTC Cash Voucher Scheme.
2. Mr. - B - Employee's Spouse
3. Mr. - C - Spouse's Brother
4. Mr. - D - Spouse's Brothers Friend.

The payment was made Digitally.
The payment was made as follows, to avail an extra discount of Rs.2000/- on Purchase, if paid through HDFCBank Credit Card.

1. The payment of Rs. 57,990/- against the Invoice of LTC Cash Voucher Scheme Claimer was paid using HDFC Bank Credit Card of Mr. 'D' on 25/03/2021.

2. An amount of Rs. 58,000/- was transferred through IMPS by Mr. 'B' - from SBI A/C to Mr. 'C' - Axis Bank A/c on 29/03/2021 to be transferred to Mr. 'D' .

3. The amount of Rs. 58,000/- was transferred through IMPS by Mr. 'C' - from Axis Bank on 07/04/2021 to Mr. 'D' - HDFC Bank.

The LTC Cash Voucher Scheme Claim by Mrs. 'A' has been rejected stating that the payment has not been made directly by the Claimer/ Spouse to the Seller.

Though the GST has been paid and digital payment has been made the Claim has been rejected.

Request your goodself to advise me on the matter and am I elegible for the LTC Cash Voucher Scheme Claim.

i'm a outsourcing worker with a renumeration of Rs.60000 per month.

Now, my outsourcing agency is deducting tax at 7.5% i.e Rs. 4500.

Since, i'm not a direct employee. Can a agency cut Tax deduction in such a way.

Now, what ITR-X form i should submit.

Same bank account but branch changed.
May I remove the the old branch and add the new one in the new e-filing portal?

Is the new portal free from all glitches now?
I cannot add new bank accounts even after repeated attempts.
Either, technical problem or not validated at bank is given as reason.