Hi,

As per announcement by FM on 24 Mar 2020, for delayed payments of TDSmade between 20th March 2020 and 30th June 2020, reduced interest rate at 9% instead of 12 %/18 % per annum ( i.e. 0.75% per month instead of 1/1.5 percent per month) will be charged for this period. No late fee/penalty shall be charged for delay relating to this period.

The query is if a taxpayer had not deducted/ paid TDS pertaining to July 2019 and wishes to pay the same now (post March 30 2020), will the reduced interest rates/ waiver of penalty be applicable to such tax payer?

Thanks.

Dear Sir/Mam,
As u know, FY for 2019 - 20 has been changed due to coronavirus. Thus, please update will this financial year applicable to Bank also ? Will banks close there books on 31st March or 30th June for FY 2019 - 20 ?
If yes, then if I do investment under PPF between April 2020 to June 2020, in this case will bank provide certificate for PPF contribution mentioned that contribution is applicable for deduction under section 80C for FY 2019 - 20 ?
Further, if there is any circular regarding above mentioned case, please share.
Wish to hear you soon.

Regards
Deepak Rawat

I HAVE OPENED A SUKANYA SAMRIDHI ACCOUNT IN THE NAME IN THE NAME OF MY DAUGHTER I HAVE DEPOSITED 30000 AND CLAIMED 80 C DEDUCTION CAN MY HUSBAND ALSO INVEST 50000 IN IT AND CLAIM 80 C BENEFIT FOR F/Y2019-20

Kindly guide where miscellaneous expenditure like Preliminary expenses,preoperative expense, Discount of issue of shares etc are show in Balance sheet as per CA-2013.
1. Under Intangible assets
2. Under other non current assets

or
3. deducted from Capital
Regards

Dear Experts,

My company got closed suddenly, thought of withdrawing my PF amount. But when i logged in i tried for online withdrawal. I understand my Name, Aadhar numbers nothing was matching. I have edited the information as per my Aadhar. But now the problem is this information need to approved by the company which was closed and no one is there to do these activities.

Kindly advise how to proceed on this kind of situation. Is there any other way i can withdraw my money from EPF

Thanks in Advance

Can any please clarify whether Chapter VI A is available in the case of belated filing of income tax return for fy 2018_19( AY 2019 - 20) for the extended due date till 30th June 2020…?

Due to the lockdown period since 22-03-2020, I have not been able to submit form 15H. I have made a fixed deposit which gives me a interest income of 55000 in the financial year 2019-20, will the last date of submission of form 15H be extended due to lockdown so that tax is not deducted by the bank?

I have a small business. Turnover is 15 lacs. Net profit is less than 8% and below basic exemption limit. I don't want to disclose income as per section 44AD. I have no other income.

It says in the section that in case of an individual, 44AB is applicable if total taxable income is above the basic exemption limit. However, my teachers are of the opinion that i need to get the books audited.

I'm i required to get the books audited???

Please drop a reply

Exemption from filing 9C reconciliation statement for the year ended 31.3.2019 is applicable for all dealers having aggregate Sales below Rs 5 crores or only SME registered dealers and as such is applicable for dealers engaged in trading business

I have two companies, Company-A & Company-B. In this B company to merge in company A. than after I surrender GSTIN of compnay B. Now, my query is what to do if sales are return from company B. How to issue credit note against sales return from company B. (Company B was already surrender)
Please help me.