Poonawalla fincorps
Poonawalla fincorps


Daya
04 July 2022 at 12:39

Type of GSTR under section 9

What are different types of return under GSTR-9 ?


Rochelle M
06 July 2022 at 15:36

TDS on resale flat - NRI seller

I am looking to purchase a flat in Mumbai for 1.37 Crs. The seller is an NRI. I am taking a loan of 1Cr and 37Lakhs will be my own contribution. Since I have to deduct TDS on the entire 1.37Crs, what is the percent of TDS that I will I need to deduct since he is an NRI customer and by when do I need to deposit this TDS amount...as in before registration of the flat or after? Also how much time do I have to deposit this?


ARCHANA

Sir/mam,

Future and options profit raised income which head we have to show this income under Income tax head, which ITR form we have to use.

please guide me

Thanking you,


Suraj

Dear Sir / Madam,

Mr A had invested in NCDs of reputed NBFC which is now matured but not recoverable as the matter is with the court. The due date is already over and maturity amount is not received. The purchase cost was Rs. 25000/- and Maturity amount is Rs. 33400/-.

Is it required to be shown under capital gain even though no maturity amount is received? how to treat this in ITR?

Kindly guide
Regards,
Suraj


Soundararajan Venkat Rao

If the dependant parents receive foreign remittance to support the family, and medical expenses etc, should such receipts, be added to the income and tax patable, when such amount is part of the income already taxed at the foreign government.


Suraj

Dear Sir,

There is off-market transfer of few shares from Mother to her son. These transactions are appearing as Value of off market debit transactions of listed equity share in mother's Annual Information Statement (AIS). End of the Day value is Rs. 7182/- and consideration column has zero value.

What are the implications of this transactions? whether they are required to be reported in Income Tax Return of Mother?

Kindly guide.
Thanks & Regards,
Suraj


Dr. S.K. Soni

I raised a housing loan for an Apartment, bought as a joint owner (70% share) in 2009 and claimed the Exemption from Interest component till 2015 when I cleared the outstanding loan. The property is self-occupied at the moment.
In the meantime, I bought another apartment as a joint owner (70% share), with a housing loan in 2021. Both the properties are not rented. Can I claim the exemption in the interest component on the Housing loan for this second property after indicating it as self-occupied?


Ashish Agarwal
03 July 2022 at 15:03

26AS NOT UPDATED

Someone by mistake made a payment to his vendor after deducting TDS but, by mistake mentioned my PAN instead of his Vendor's PAN. As a result, the whole amount and the TDS is showing in my 26AS and AIS/TIS. Somehow I contacted the deductor and he agreed to his mistake. Now according to him, he has revised his TDS return a week ago but the amount is still showing in my 26AS/ AIS/TIS. Does it take so much time for 26AS / AIS to be updated ? What remedy do I have ?


Sharad
03 July 2022 at 12:29

Query on Joint Property Sale

Hello,
I bought flat ~12years ago @16L and sold in FY 2021-22 in 40Lacs.
Sold property was Jointly owned by Me & my mother.
This sold transaction entry of 40lac (SFT-012) came in 26as & AIS of both me & my mother.
 
I need your help to understand,
Question 1 : while filing ITR how I need to show this
Option 1 - both me & my mother need to show full 40L
Option 2 - me & my mother need to show 20L each.
 
Question 2 : how the buy price needs to show for both the buyers
Option 1 - both me & my mother need to show full 16L
Option 2 - me & my mother need to show 8L each.
 
 
Question 3 : After 4/5 years, I have paid VAT charges of ~32000
How this can be shown in ITR to avail Tax benefit (with indexation)

Question 4 : I had some legal issues with my Tenant, who sublet my property to someone else.
In this case I had paid 25000 as lawyer fees.
and at the end paid 1 lac rupees to person staying in my flat to vacate.
How this 1 lac & 25 thousand can be shown in ITR to avail Tax benefit (with indexation)

 
I will be obliged If someone can help me on this.
 
Thanks


akshay maloo
03 July 2022 at 11:52

Regarding Rera Compliances

IS there any liability for Partnership Firm to get registered from REGISTRAR OF FIRMS under RERA?