Dear Experts,

Is there any restrictions in adding deductee records while revising the TDS Return?

For example, in original TDS Return, 100 deductee records are available. But at the time of revising this TDS Return, 1200 more deductee records will be added.

Kindly confirm.

Sir,


I want to know the TDS applicability in respect of the following payment to a professional (Sec. 194J)

Rs. 5000 (before Tax) on 04-05-21
Rs. 15000 (Before Tax) on 07-07-21
Rs. 5000 (before Tax) on 09-10-2021
Rs. 20000 Before Tax on 05-02-2022

The exemption limit available for professional payment was Rs. 30000 p.a. Here first three bills, because of not crossing the limit I have not deducted any tax and paid full amount to the party. But on receiving the last bill the TDS provision attracted and liable to deduct for the whole amount from the beginning.

Then here I want to know how can I deduct and pay the tax. Whether I have liable to pay with interest based on the bill date or deduct full amount of tax from the last quarter bill and pay without interest and show deduction details in the last quarter return. Because as per TDS provision liability arises at the time exceeding the exemption limit.

please clarify

I am business man and I have partner of 2 business and director of a company. I have received partners salary and directors salary. My yearly income was approximately 25 lakh. Now I think that , have forming a partnership firm with my family member and issue taxable invoices to these entity as professional business consultant. In this situation can I opt 44ADA for my partnership.

In FY 2020-21 an individual who is director in a private company receiving salary from company @Rs.20 lacs per month totalling to Rs.2.40 crores on which TDS has been made by the company as per provisions of section 192. The individual is also partner is a firm from where he received Remuneration of Rs.48 lacs, Interest Rs.35 lacs and share of profit from firm64 lacs. The individual has taken unsecured loans from parties , NBFCs and invested the same in the firm as capital of partner,
He has to pay interest on unsecured loans for FY 2021-22. Please advise as to his liability to make TDS u/s 194A . Thanks

I had 100 shares of GTPHATHWAY in DEMAT on 06 Jan 2021
I sold 100 shares allocating from DEMAT on 14 Jan 2021 at 09:30 AM
I bought 30 new GTPHATHWAY shares on 14 Jan 2021 at 11:25 AM
My query is that
Is 100 shares purchased on 4 jan 2021 will be debited from DEMAT
or
70 shares purchased on 6 Jan 2021 and 30 shares purchased on 14 Jan 2021.
Is this will have speculative income in capital gain statement.?

Any rule/guideline may be shared.

Applying for Mudra loan, need to submit sales project report, i need the format

Sir, can we claim ITC on materials purchases like cement, stone, blocks for road construction/repairing allotted by State Govt. ?

Dear Sir,

We have received Transportation Charges from Railway then we have billing same amount to Customer which is pay to Railway and GST Collect in bill @ 5% such as according to the same Gst rate Collect by Railway.

Please Confirm the same its ok or what GST Rate applicable for the same

Client has purchased A.C on 29-03-2022 and he has opted Composition Scheme From 01-04-2022
Can he take benifit of ITC on A.C. ??

Sir,
I would like to clarify some doubt regarding Investment of Long term capital Gain.
Whether full Exemption available in the following scenario? or Only Reinvestment in Land and building only available
i.e. Mr. Venu sold the property(Land & Building) in 1st Mar.2022 for Rs.2.5 Crore and arrived LTCG for Rs 1.27 Crore .If he invest Rs.80 Lakh in Land & Rs.50 Lakh in REC Bond , can he claim both investment U/s 54 or only one allowed as Investment ?
2.Whether he needs to pay Advance Tax against LTCG ?
3.In case he invest Rs.80 Lakh in vacant land by 31.7.2022 and started the construction , whether he needs to invest the remaining amount , in CG A/c Scheme ? or he can keep the amount in his hand to manage the construction