HI EXPERTS

IS IT MANDATORY TO CREATE DEFERRED TAX ASSET/LIABILITY TO RECOGNISE THE TIMING DIFFERENCES IN REVENUE AND TAXES FROM NOWON . IS THERE ANY CHANGE DUE TO INTRODUCTION OF NEW SECTIONS 115BA AND OTHER SECTIONS.

Is it mandatory to report the gift amount/s received from my son abroad every month in Schedule EI every year?
what are the advantages?

My bank has reported 2 entries of cash deposits SFT004 of > 5Lacs in my Form 26 AS, taking the total cash credit to more than 10 Lacs and thus become reportable under SFT004. one of them is correct and tallies with my aggregate figure as per bank passbook. But the other one is wrong totally. I have asked for a recheck. I have the passbook and checked and rechecked, but did not find a single transaction other than the tallied figure. In case the bank does not change the SFT004 .what should I report/do in the return ITR1 and how. Please give minute details as I am not a commerce person. Thanks in advance.

My son from the USA sends money every month for our maintenance. Is there any cap on this gift amount in the USA and India in the present time?. Is this cap applicable for US- FY or Indian -FY?

Dear Sir,

My query is regarding the HUF complete partition.

After Partition how to inform the ITO regarding the partition and closure of HUF.

Our application Part B of Spice+ is in status "Sent for Resubmission" since yesterday. However, we have not received any email about it.

Is there any other location where we can see the reasons for rejection of our application ?

Thank you ..

Assess I.t. return filed sec 44ada 50% profit declared every year.but actually earned 65% profit present year.
Question:
Assess I.t.return shown in profit 50% in place of 65% filed accepted under I.t. act.

Assess apartment value rs.25 lacs gift to daughter .
How to passed accounting entries for property gift to daughter .

What is the meaning of "Independent Personal Service' Article in DTAA?
Please explain the meaning of this article in simple words, if possible with example.

Thanks in advance.

Dear Sir,

One of my client is a Salaried person and a Resident of India. He has paid rent of Rs. 50,000/- per month in FY. 2019-20.

The owner of the property to whom my client is paying rent is an NRI person. But my client didn't deduct any tds while paying rent in F.Y. 2019-20.

Now my clients wants to pay the entire TDS amount. I want to know what is the rate at which he has to deduct tds and how much penalty he has to pay now since he has not deducted and paid tds every month.

Please help me regarding the provisions applicable incase of rent payment to an nri person.

Regards,
Divyesh Jain