DEAR SIR,
CAN I CLAIM MY UNCLAIMED TCS CHALLAN (FY 21-22) IN TDS ANY SECTION (FY 22-23).

PLS REPLY

Dear Experts,

-I had purchased a flat in chennai in year 2003 through POA to me father, as I was NRI based in UK at that time. The cost of flat was 20 lacs. There was a housing loan taken for purchase of this property of 25 lacs as it was raw shell (20 lacs towards property + 5 lacs fixtures and furniture). This complete loan was closed in year 2012. I came back to India in 2005 and sold this flat in XXX.

My questions are following:

1) whether the complete interest cost on total loan be added to the cost of purchase, for the purpose of capital gain calculations. This interest cost comes to nearly 10 lacs.

2) Can this interest cost be indexed, as it was paid in several years from 2003 to 2012

3) Or, can I only claim interest on Loan as deduction for period from 2003 to 2005 (during the time I was NRI). I did not file any ITR in this period as there was no factual income in India and also did not claim any deduction under house property (sec 24), in this period.

Thanks a lot.

My employer has deducted Rs. 9400 p.a as professional tax on employment. Whether full amount can be deducted from salary? But I have read that not more than Ra. 2500 p.a can be deducted as professional tax on employment.
Kindly guide how to treat it while filing income tax return i.e whole amount paid can be shown?

Want to certify Unhedged Foreign Currency transactions
My question is what details need to be filled in this form ?

My son who is a student in USA has transfered 10 lac out of his scholorship income in his saving account in India. He has invested this amount in mutual funds in India which results in some nominal capital gain. Which ITR form he should file?

SIR

WE HAVE PARTNERSHIP FIRM, NEWLY STARTED IN MONTH OF FEB-2022, NOW WE PREPARE TWO MONTHS FINANACIALS. P& L SHOWING LOSS. THIS LOSS WE HAVE TO TRANFER PARTNERS CAPITAL ACCOUNT OR ANY OTHER ACCOUNT

AND HOW ACCOUNT LOSS

PLEASE HELP ME

What will be the tax implication if a non resident Indian (now a Canadian citizen) sells land in India for Rs.5 crores? Should TDS be deducted by the buyer? Can he deposit the sale proceeds in his NRE Account in India?

Sir,
We are charging Rs.8500 per student for hostel accommodation for a private Coaching center in Malappuram Kerala. The amount includes food , rent and upkeep Charges etc. Ourselves a GST-registered party. Do we charge @ 12% by considering mixed supply?

Please advise

Sarath Kurian

Sir
I have a below query for the asst. year 2022-23
Our client turnover from trade business is 2.10 Cr
Cash payment/ receipts are below 5%
Net profit ratio 4%
do we need to audit books u/s 44AB

My client deposit cash and transfer money to his wife's bank account invested money in MF and pays LIC from there. is bank interest, and profit/loss from MF need to be clubbed with the income of the husband or treated as income of his wife?