i purchase new Flat of 1.75 Lakh. By Bank 40 lakh payment to seller on 10th Nov & 20 lakh payment on 14th january.

Now any interest is applicable on 10Th Nov payment Rs.40 Lakh ? it is under the limit

please guide

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Facts of the case:
I invested in a housing project being built by a private builder to get a residential house in the financial year 2013-14.
But the builder failed to build the property as promised. I complained regarding the same to local authorities, then to National Consumer Disputes Redressal Commission and finally Supreme Court of India. The Supreme Court ordered the builder to pay interest @9% to me, which I received in the financial year 2021-22.

Query:
I am taking this interest income as Income from Other Sources in my income tax return. I want to deduct expenses from this interest income as per sec 57(iii) of the income tax act, 1961. I have incurred legal expenses and traveling/hotel expenses to fight the case in various courts in different cities every year since the financial year 2013-14. Whether I can deduct expenses that I incurred every year since 2013-14?

( As one of the four conditions under 57(iii) is that the expense must be laid out or expended in the relevant previous year and not in any prior or subsequent year.)

[Any other Expenses for Earning Income [Section 57(iii)]
Any other expenditure is deductible under section 57(iii) if the following four basic conditions are satisfied:
the expenditure must be laid out or expended wholly and exclusively for the purpose of making or earning the income;
the expenditure must not be in the nature of capital expenditure;
it must not be in the nature of personal expenses of the assessee;
it must be laid out or expended in the relevant previous year and not in any prior or subsequent year.]

How to deduct TDS .

Buyer Seller Sale consideration
A (Buyer) paid to Husband (Seller) = 10,30,000
A (Buyer) Paid to Wife (Seller) = 9,10,000
B (Buyer) Paid to Wife (Seller) = 60,60,000
80,00,000

Whether TDS is to be deducted on Foreman Commission to KSFE ? Actually it is deducted from the prize money and balance only paid.

Dear Experts,
I have paid a contractor Rs. 150000 in April 2021 but I didn't deduct his TDS neither I had deposit the same to Goverment because I didn't had TAN number.

Please guide what to do ?

Respected Sir,

A lady aged about 42 yeas has filed ITR-1 for the Ay 2019-20 showing therein other income by way of nett receipt on account of tailoring & stitching.

Will it do ?

or

Whether the asseessee has wrongly filed her IT Return ?

The said ITR has been successfully processed without fail.

Please pass your comments on this issue

Tks with kindest regards

Hi every one,
we are facing some issue with submission of form 26A request in TRACES portal. The uploaded file is being rejected continuously stating that "invalid file format". The format is from Website itself for the concerned report and still problem persists. Seeking solution in this regards.
Thanks in advance.

Can anyone please get in touch with me for E-Commerce Website Project

While filling form IEPF 4, I have to mention SRN of form IEPF 1/1 INV, if the purpose is u/s 124(6), and the financial year to which the dividend amount is related gets automatically prefilled.

However, in my case, on entering the SRN, it is not prefilling the FY. And if I give the purpose of filing the form as section 90(9) this issue does not come up.

Kindly advice on
a) which option to choose when giving purpose of filing form and
b) Had raised many tickets but not received satisfactory reply, so whom should I contact?

Kindly guide me.

Regards,
Viola.

Sir,

I am normally a domestic supplier holding IE code. Now I want sold laptop to a concern in abroad ( say for example in Dubai). Then I want to know how to invoice the same?. Whether I have to collect full tax as IGST in the bill and apply for refund or whether possible to invoice goods without tax?.