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Daya

What is interest rate on TCS Not charged , now i want to pay with Interest. What will be the interest rate . I Have deposit Interest rate @ 1.5 on TCS amount is correct .or Not.


FOUNTAIN HEAD PVT LTD
22 February 2022 at 10:58

Employees provident fund updation error

my basic wages was shown at the time of UAN generation Rs 11400/-, from last 6 month my EPF joining date shown but EPS joining date Not Available.
When I am trying my missing data update through Employer's Portal then One error shown that " you are not eligible for pension scheme.
Please help me what should i do?


prakyath n
22 February 2022 at 10:55

Input tax credit-Blocked credit U//S 17(5)

Can ITC be claimed for GST paid on Employee deposit linked insurance(EDLI)?? since section 17(5) specifies that if any insurance payment made by the company as a part of statutory obligation, Then ITC Is permissible and EDLI Is governed by EPF Act.


kuldeep singh badwal
22 February 2022 at 10:34

Capital gain[ tax] account

dear sir
we sold ancestral land in village.i got 67505/ as share , deposited in capital gain account scheme in SBI in 2015 dec.for 3 years as FD .it was not encashed by the bank IN 2018 ,hence again continued for 3 years as FD.Now i got it as savings account type A. I HAVE TAKEN OUT 25 000/ on 1/1/22.i want to close the capital gain account in SBI.i am depositing 20% tax to close the account.will it need ITO APPROVAL .OR JUST TAX 20% RECEIPT IS ENOUGH FOR SBI to close it.ITO APPROVAL IS MUST OR NOT.PLEASE ADVISE SIR .THANKS


R. K. Ramani
22 February 2022 at 10:21

Help me in Taxation of Private Trust

Hi recently I create a Private Trust named Tilak Education & Marriage Trust.
Not trust property is around 15L now in feb-22.
help me for taxation
Trust creation in the month of July - 21
5L from trustees
7L from gifts &
3L from share trading income


Keyur

Sir/Madam

I want to know about deduction availability u/s 24 for loan taken for shop/commercial purpose.
Shop is under construction and yet not received possession.
Can we claim duction u/s 24 of interest paid on it??


binu sukumaran
22 February 2022 at 06:53

Letter of undertaking in GST

Sir.
Let's me know what is letter of undertaking for export in Gst. One more
In case of export service implications of letter of undertaking.


Gopalakrishnan. S
21 February 2022 at 23:31

Change the Trade name by Firm

Sir

We are running a partnership firm with GST registration. Till now, both, the Legal name and the Trade name are same.
But now, we prefer to change the Trade name. While doing so, which name has to be used in our
purchase as well as sales bills ? Whether Legal name or Trade name or any of them ?
Further, can we get our purchase bill in favor of Legal Name and issue our sales bill under the Trade name ?

Pls. advice.


Ashish

Can I revise Form 67 - Foreign Tax Credit (after the tax due date)?

- For FY2020, I had worked in USA and consequently claimed FTC while filing Indian taxes(tax was filed before due date) along with filing Form 67.
-Now I need to revise my taxes since I missed out reporting some income. Tax consultant is saying that since Form 67 also needs to be revised, AO can reject it stating that revised Form 67 is filed after due date(even though the original was filed within due date).
- I read in many places that AO frequently rejects FTC if filed after due date citing IT laws, but Bangalore ITAT(Ms. Brinda RamaKrishna vs ITO (ITA No. 454/Bang/2021)) has said that filing of Form 67 after due date should not result in denial of FTC.

Can someone pls advise if quoting this case will have any effect on the AO as my tax consultant is pretty positive that AO will reject the FTC.

Thanks


S.Jegadeesan

Sir,
I would like to get the clarification on deduction Under Income Tax Act
Whether Housing Loan repayment can be adjusted against the Taxable Income while the House is in assessee's brother name(Who is a NRI) but the Loan taken by the assessee who is resident in India ?
2.Whether Medical Expenditure for specified diseases paid by the assessee, against his brother's treatment (Who is a NRI) can be Claimed U/s 80DDB?