Whether 43B(h) Is Applicable on those Companies on Which Tax Audit is Not Applicable. i.e. Turnover Is Less Than Tax Audit limit.

My client was a NRI. he has NRE Interest Income (exempt u/s.10(4)). He has HP income Rs.48300 only in India. How declare in updated return and which section to be filled. He has also TDS Rs.14000/- for NRI remittences u/s.195.

If MR.A and MR.B are two partners of existing firm now both partners decided to retire and 2 new partners are going to admit in such firm,
Now admission cum retirement deed is to be prepared or existing firm is to be dissolved and new firm is to be incorporated?

Dear Members,
I have a query for the facts as under:
# Return was Originaly filed within due date for AY 2018-19.
# Notice u/s 148 was issued on 11.05.2022 to file Revised Return, Return was filed with same figures as per the Original Return.
# Later Replied Filed for Notice u/s 142(1).
# Assessment Order passed u/s 147 rws 144B by Assessment Unit under Faceless Scrutiny.
# There is No Addition of Income.
# Income and Tax in the Computation sheet and Original/Revised Return are same.
# Credit of TDS and Advance Tax is properly given

But in the Computation Sheet for Order there is Interest u/s 234B and 234C shown as payable for an amount of Rs. 1,15,901/-. Though actually all the Advance Tax was paid correctly... Still there is a demand of Interest...

Query:
What is the recourse for the Demand.. As there is no Addition of Income.. Should we file Appeal ??
Request Guidance of Seniors and anybody aware of such a matter.

Thanking You.
Viral Vora
9702556399

For AY 2019-20 charitable trust return is filed after due date & also report not filed in form 10B. Therefore cpc does not allow exemption u/s 11 & calculate tax on gross receipts. Now can we file condonation request for delay in filing income tax return with CIT (Exemptions)? & condonation for delay in filing form 10B with CBDT to get exemption u/s 11 ?. How to submit the condonation request with CBDT ??
Please reply.
Thanks in advance.

Whether section 43B(h) of Income tax Act applicable to a assesse who is declaring his trading business income U/S.44AD ?

Sir,
Tax audit it assessess rent paid to another tax audit assessess
Question:
Sec 194 I or sec 194 I (b) correct and difference between both sections.

IF MR.X HAS FILED REGULAR RETURN U/S 139(1) FOR A.Y.2018-19 AS ON 31/10/2018 FOR WHICH INTIMATION LETTER WAS RECEIVED AS ON 26/04/2019 UNDER WHICH DISALLOWANCE UNDER SECTION 43B WAS MADE FOR GST LIABILITY NOT PAID BEFORE REGULAR FILING OF RETURN.
AFTERWARDS MR.X HAS PAID THE GST LIABILITY BUT DEMAND WAS MADE AGAINST SUCH RETURN.
NOW MR.X HAS FILED RECTIFICATION OF RETURN U/S 154 AS ON 06/06/2023 AND PROCEESED AS ON 05/10/2023 BUT SUCH ORDER WAS NOT KNOWN TO ASSESSE AND APPEAL WAS NOT FILED AGAINST SUCH ORDER.
NOW MR.X HAS AGAIN FILED RECTIFICATION U/S 154 AS ON 31/01/2024
SO, WHETHER SUCH SECOND RECTIFICATION CAN BE FILED? WHTHER IT IS WITHIN TIME LIMIT?
IF YES ASSESSE SHOULD WAIT FOR SUCH RECTIFICATION TO BE PROCESSED TO FILE APPEAL AGAINST SUCH ORDER?
OR IS THERE ANY OTHER OPTION TO FILE APPEAL FOR SUCH ASSESSMENT YEAR?

Scenario: Husband transfers 25 lac to his wife. She then invests this amount in Equity shares. She pledges this equity shares with broker to get collateral margin. She does F&O trading using this collateral margin.

Question: I understand the capital gain (if any) arising from equity investment will be clubbed with husband's income. But what about the income from F&O trading? Will it be treated as her income or also clubbed with husband's income?

Dear Sir,
On April 2023 we have taken vehicle loan from HDB FINANCIAL SERVICES LTD, Chennai for purchasing trucks. We are paying interest to them on each EMI. I want to know whether we have to deduct TDS on interest from them.
Please clarify the same immediately.
Prakash Menon
Accountant