Hi,

I have received invoice from vendor in Mar-23 amounting to 53,100/-
Taxable : 45,000/-
IGST : 8,100/-
Total : 53,100/-

We have deducted the TDS @10% amounting to 4,500/-, and now TDS return also has been filed.
But we haven't initiated remaining payment after deduction of TDS.

For some issues in service we want to raise debit note for entire invoice, so what will be the effect of TDS in Debit note.

Should we revised the TDS return or collect TDS amount from vendor ?

Sir,
Purchase land , dt 27.2.18
co owner property A.& B
Pur.Total Amt 580000/-
A.290000/- B 290000/-
Sale Total amt.295000/- dt.30.11.22 One person sold.
Received amt A a/c. 147500/-
B. a/c.147500/-
Itr 3 filing A Plot pur.A. 290000.
Sale total amt.295000 one person 100% But ITR filing which sold amt consider? Pur.property owner A 50% B 50%? Sale amt.A.147500& B.147500 LTCG Calculate? & ITR . full consideration value? Cost of acquisition without indexation calculation? Index
Total stamp value purchase. 580000/-
A.calculation.290000/272*331=352904 B.calculation.290000/272*331=352904 LTC Loss A -205404 & B -205404 ITR. Correct calculation ? Please. Sir .

Books is selected for gst audit for period 2017-18. We are distributor of FMCG co. In each month company offer secondary scheme on various products to retailers.
As a practice scheme amount is first deducted from the price of goods and then GST is charged. Company issues credit note for the amount of scheme passed through invoices as above.these credit note is without any GST charges. It is not uploaded on portal by supplier. We did not make any ITC reversal in this respect. The assistant commissioner computed tax @5% on the amount of credit note and issued notice under section as above to pay tax and interest on it. We refer circular no 92/11/2019-GST,but not accepted by him. Am I liable to pay as per demand. Pl suggest reply for it if I am not liable to pay tax on credit note.

Whether Govt. Office having TAN do the repairing or renovation work in the building and do not have any contract with the person but pays the amount equal to say 3Lacs then TDS under section 194C is to be done or not ? If not then why ? and if yes then Why ? Please give your reply with justification.

Dear Sir,

I had filed an Income Tax Returns for an Assessee from A.Y. 2021-22 & onwards but unable to file Returns before 2021-22 i.e. for the period from A.Y. 2018-19, A.Y. 2019-20, A.Y. 2020-21 now I'm finding the Pending Actions from A.Y. 2020-21 & before, kindly advice.

Warm Regards,
Aditya Ghatge

1. Brokerage 2. Securities Transaction Tax ( S.T.T) 3. Stamp Duty 4. Stock Exchange Charges 5. Depositary Participant Charges 6. SEBI Turnover Charge 7. GST, etc

Whether these expenses related to purchase /sale of shares
In the case of purchase of shares to be added
in the case of sale of shares to be deducted.
While making journal entry of purchase and sale of shares.

Is it true that the CA Articles are not allowed to be engaged in stock business or stock trading simultaneously with the CA Articleship?

WHEHER ITR 5 ( PARTNERSHIP FIRM) HAVING LOSS CAN BE FILLED OF F.Y.2021-22 UNDER UPDATED RETURN SCHEME?

*FY 2021-22 & AY 2022-23*

TDS Claimed in ITR - Rs 3,500 as appearing in 26AS as on ITR Filing Date 31-07-2022. ITR was processed and a refund was received.

Later after all due dates passed for filing ITR 139(1) & 139(4). The deductor deposited additional TDS which was deducted but not deposited earlier. Neither we had details amounting to Rs 7,500. The rectification request was submitted (Tax Credit Mismatch) but an additional claim of TDS was not admitted.

Now we are trying to file rectification with the option (Return Data Correction) but getting an error as below.
"Under Section 154 of Income Tax Act 1961, an application for rectification can be filed only to correct mistakes apparent from records. In the rectification request filed, it is found that an additional/reduced TDS/TCS has sought to be claimed. This is not a mistake apparent from record. Hence your rectification request cannot be entertained."

Any solution for the above error if anyone can suggest.

ASSET WAS PURCHASED IN THE NAME OF PARTNERSHIP FIRM. HUSBAND AND WIFE ARE THE ONLY TWO PARTNERS. CAN THE ASSET BE TRANSFERED AS A GIFT TO THEIR SON ?