SIR / MAM

As per new rule, TDS / TCS is applicable on the value of Purchase / Sales exceeds 50 Lakhs if turnover crosses 10 crores.

My doubt is
Once Paid / Collected in a year, should it be continued to next years also even the turnover less than 10 crores ?
Or
It is applicable only in the year in which the turnover exceeds 10 crores ?

And,
Is it right to charge TCS on Invoice by the Seller ?

Plz guide me
Thanks in adv

What is the exact meaning of phrase" Sales are vanity, Profits are sanity and Cash is reality". I came across this while studying cash flow statement?

Dear Sir

please suggest Mr.A is not filed income tax return because his annual income is less then 250000/-but he is saving every year Rs.60 thousand to 70 thousand ( in saving account)per year from since 2005. in 2012 he was made fd from bank Rs.5 lac and one fd in year 2020 RS. 8 lac and now again in year 2021 he made Fd Rs 2 Lac all fd renewal in every year. So can Mr.A face any issues from IT department. interst from fd reflects in AIS form in previous year his annual income exceed from basic limit and he filed ITR.

I am an individual taxpayer having a house property with my name received by gift deed from mother. Now I am recently purchased an another new house property with my wife's name for which I have taken a loan(first time ever) from an approved financial institution and I am also co owner for loan purpose.
Now my question is that am I able to claim the principal and loan rebate in my income tax file and also what will be impact to remove the rebate to claim RS. 150000/- for interest on loan in latest budget 2022 in my case. Kindly fully explain.
Atul
8302096732

So My company asked for investment proof submission for FY 2021-22. And I submitted wrong HRA proofs (incorrect receipts & rent agreement). Now the portal is closed for any modification. And I must change it. What can I do? Can I just file revised return at the time of ITR filing?

Dear Sir,

Mrs X, who is married, is real sister of Mr. B. Mr B wants to purchase a flat. So he asks for monetary help to his sister. She also doesn't want her money back.
Can a transfer of X amount of money by Mrs X, who is a Married, to her real Brother be treated as gift?
Kindly guide me.

Regards,
Suraj

Is P D HINDUJA HOSPITAL COMES UNDER SECTION 17

A business man who has business for 5 years wants to get registered under GST in March,2022. Turnover of his business is around 34-40 lakh . Could he opt for regular scheme? If regular, could he file both GSTR-1 and 3B monthly? After GST registration could he claim all input tax credit with the invoices that he paid in F.Y.2021-22? Please reply.

Sir,
for transfer of salary to NRI from india in which option to be selected pard D of form 15CA. Salary Accrued or arises outside india. Only payment made from india to NRI. There is no option in Part D for Salary.
I request experts advice
Thanks

Sir, I received an tax demand of Rs 29000 as there is mismatch of tds deduction from 26 AS
pointing out that no tds has been deducted against the TAN of deducer.
I therefore cross checked with 26 AS . The TAN no of deducer and amount is truely reflected in my return but I noticed that by mistake year of duduction is shown 2019 in place of 2020 causing mismatch.
Do I need to revise return or intimate cbdt for correction.