Good Day.
When a company buyback the unlisted shares, is it required to deduct any tds from the amount payable ?
I understand company has to pay tds for buyback but not clear if company is required to deduct any tds while paying to shareholders of such unlisted shares .
Please help with the correct position in this regard.
Thanks

DEAR EXPERTS WHEN I AM UPLOADING JSON FILE TO GSTR1 OFFLINE TOOL THE GST PORTAL SHOWS "ERROR OCCURED" - WHAT THE SOLUTION . EVENTHOUGH DOWLOADING LATEST VERSION OF GST OFFLINE TOOL AGAIN AGAIN FACE THIS ISSUE.

Sir please advise if accrued interest on Home loan can be claimed for deduction. The intrest is accrued during moratorium and actually not paid.

Respected Sir,
My client is a senior citizen as per income tax act. He has received the amount form PNB on maturity of policy named PNB Met life policy.
So I want to know that the amount received by him will be taxable or not.
He chose new tax regime

1.Indian company issued work order to foreign company in INR
2. They have a 55% subsidiary company in India
3. If the order value is Rs.100/- , the subsidiary co. in India will raise bill of Rs.80/- and foreign company will also raise invoice in INR for Rs.20/-
4.The remittance of Rs.20/-will be in foreign currency and directly payable to foreign company
My question are:
a) The invoice raised by foreign company in INR for Rs.20/- is valid or not.
b) Is this can be treated as Import of Service
c) Is IGST payable on RCM on import of services?

Dear Experts,

I need your advice on the following tax matter on capital gains on joint property

I bought a flat in 2009, which was registered jointly in my name and my wife's name. However, the entire value was fully financed only by me, a small component from my savings and around 90% from the housing loan. The payments for the housing loan were also made by me out of my salary, including the early settlement amount made to foreclose the loan. The joint registration was done only to facilitate hassle-free transfer in an unlikely event. No amount was paid by my wife for this house property.

Further, I had mentioned 100% ownership of this property in all my income tax returns and declared the income from rentals fully under my name. In 2014 I sold this property and full consideration was received in my bank account after TDS which was deducted under my PAN only. I had declared the full capital gains in my return. Since I had reinvested the amount in a new house property (registered only in my name) there was no capital gains tax.

IT department has initiated a show cause notice in my wife's name seeking clarification as to why the department should not consider 50% of the sale proceeds as capital gains under her name. When I checked with few friends who are CAs, they said if a joint owner has not funded for the house property, the taxability lies in the hands of the other joint owner(s) only. I am looking for solid grounds to defend my case. Are there any provisions in the law, or circulars, clarifications, court cases for me to do so.

Appreciate receiving a reply.

Thanking you all in advance,

Regards,

Although my original and revised returns always processed within 10 days always. But I filed updated return in January still more than one month but not processed. Kindly tell when can I expect processing and why it is taking more time in case of updated return

WHETHER THERE IS ANY TIME LIMIT FOR FILING RECTIFICATION U/S 154 FROM THE DATE OF FILING ORIGINAL RETURN?

Hi Sir/Madam,

My Company purchased a fixed asset for Rs. 51500. Out of 50000,Rs.1500 is for transportation charges. Whether TDS applicable on Transportation charges of Rs. 1500?

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