Hi, I'm an NRI. I only have dividend and interest income in India. Interest income is negligible and total income from dividends of listed equity holdings is around 1.5 Lakh INR annually. Considering this falls well below minimum taxable income slab, am I eligible to claim the 20% TDS (the rate for non-residents) on my dividends paid? If yes, then I'd like to engage a CA for filing my returns. Please clarify.

Res/ Sir, Madam,
We make monthly returns, and we purchased goods from one such Proprietary firm which are return quarterly. So Sir, when we should ITC be claimed and how much?

Thanks,
Regards,
Ashok Yadav

Hi,
I had invested in RBI 7.75% Savings taxable Bonds during Nov 2017 with Maturity in Nov 2023 with cumulative option through my HUF account. In non-cumulative option, interest is payable half yearly but in cumulative it is paid during maturity. During all these 7 yrs, no TDS was deducted on the annual interest earned. But in my ITR2, I have been showing the interest accrues every year (based on compounding) so that I dont have to apy income tax on the entire interest accrued at the time of maturity. Just before the maturity, I wrote to HDFC bank asking them not to deduct TDS by filling for 15H on the entire interest accrued at the time of maturity saying I have already been showing the annual interest earned in my ITR2 like it is done for cumulative FD. But they said these RBI bonds are not like cumulative FD and we will show entire interest accrues at the time of maturity in form 26AS and deduct TDS on full amount. Hence, In Nov 2023 at the time of maturity, they showed Rs 12 Lakhs as interested earned on Rs 20L principal invested amount and deducted 1.2 Lakhs as TDS. Out of this 12L cumulative interest for 7 yrs, I have already shown around 9.6 Lakhs in previous years ITR2 and hence only need to show balance 2.4L as interest accrued from these bonds for FY23-24 under Income from Other Sources. So pls guide me how do I show this 2.4L as income from other sources because form 26as is showing 12 L interest income under Section 193 and hence if I just show 2.4 Lakh income and hence claim refund of 1.2 L TDS, then it total income will not reconcile with what is there in form 26as. Is there anyway I can show that out of 12L 9.6 is already claimed in earlier ITR and hence only 2.4 is taxable. Otherwise I will have to incur a loss of Rs 1L as the tax on 12L and also it is unfair from RBI perspective to charge all the interest income on maturity although it is accrued annually. If I would have gone for non-cumulative option, then I would have got the income half yearly and it would reflect in form 26as, then the same accrual principal should apply to cumulative also (like in FD) otherwise people going for cumulative option will have to pay heavy tax as per their income slab on the whole accrued interest in the last year at the time of maturity. Pls help as I need to file the return asap.

Thx,
Ashok Kumar Singhal
Karta HUF account
Ph - 9845674767

DEAR SIR,

ONE OF MY CLIENT DAUGHTER, CLAIMED HRA FROM SALARIES BY PAYING HOUSE RENT TO HIS LAND LORD MOTHER OF RS.6,54000/- NOW MY QUERY IN THIS SITUATION RENT PAID BY INDIVIDUAL ABOVE RS 50000/- SECTION 194IB IS APPLICABLE TDS @ 5%.

THE SUMS DISPLAYED IN AIS REPORT THE INDIVIDUAL HAS TO FILE INCOME TAX RETURNS

REGARDS

An individual & his spouse purchased a flat in joint names while they were employed and were resident in India. Thereafter they both went abroad and become subsequently NRIs. But flat in India is still lying closed and is not rented out and is in self possession only and they are not earning any rent etc as it is not let out . There is no loan and no interest liability . Hence following queries:-

1. Are they still required to fill schedule of " Income from House property " in their respective ITRs when income of house property is NIL. OR they are really not required to fill schedule at all , as there is only one property and is in self possession only. ?

2 Are both of them required to show same flat in their individual returns ( as there is only one flat ). as the flat is in their joint names as " co-owners " ,??

3. Is it compulsory to fill schedule of " Income of house property " even if there is one property and that too in self possession and with "NIL" income therefrom.???

4 Will there be any issue foreseen when they will sell this flat some time in future but are not filling schedule of " Income from House Property" of present years when they are still owners.????

Pls guide on above four points assuming that there is no loan interest to be paid .

Can a minor become a brand ambassador in india ? If yes, what is legal process of it ? Business will be managed by his parents.

Can we take interest on gratuity year wise and submit IT return.

We were trying to file ITC04 with a fully validated JSON File but the site was showing that there was some error in validation of structure of the JSON file and to use the latest form of Offline tool. Each time I repeated the filing with a new offline tool the error persisted.

Is there any remedy for this Problem?

My ITR of fy 22-23 is under process since September 23, is there any time limit to proceed it?

A partner of the firm bought a software online using his personal money and then transferred it to the firm through capital account. the website did not have any facility to give gst details, and because it was intented to be used by the firm, an account was opened in firm's name. but the invoice that got generated have the following details:
Sold to: Firm name ( picked up from account details)
partner name ( picked up from billing details)
partner address (billing details)
Now, will firm face any penalty from gst department?
Can the the firm claim depreciation on the software in itr?