MY CLIENT IS WORKING IN MERCHANT SHIPPING FOR FOREIGN SHIPPING COMPANY OF FOREIGN COMPANY. HE LIVES IN INDIA BUT JUST JUST GO ON JOB WHEN COMPANY ASK FOR. HE RECEIVED SHIPPING SALARY+ BANK INTEREST IN NRE AC IN INDIAN BANK. HE ALSO HAVE OTHER INCOME LIKE NRO SAVING AC INTEREST & NORMAL SAVING BANK INTEREST & ALSO SOME EQUITY TRADING INCOME. HE WAS IN INDIA FOR 163 IN FY 23-24 & 703 DAYS FROM FY-20-21 TILL FY 23-24. HE DIDNT STAY IN ANY OTHER COUNTRY THAN INDIA OTHER THAN NORMAL SHIPPING JOB PURPOSE. NO ANY TAX IS DEDUCTED BY SHIPPING COMPANY FROM HIS SALARY. WHAT IS HIS RESIDENTIAL STATUS FOR ITR? ALSO WHAT TAX JURISDICTION AND TIN NUMBER NEEDS TO BE MENTIONED IN ITR? IS HIS SALARY & OTHER MENTIONED INCOME IS TAXABLE IN INDIA?

Kindly advise,

We, a partnership firm, whether are required to deduct TDS on air freight charges paid to the clearing agent along with AIR DO, endorsement charges etc. separately shown in the single bill ?

Dear Experts,
Any one please explain how to issue invoice & way bill for goods movement which is supplied as Free of cost as samples towards business promotion.

Sir,
A partnership firm business in buying land and conversion to plot and selling plots.
Question:
Assessess capital gain tax or business income treatment in it act.

Hello Sir/Mam,

I have a query related to filing of 26qb forms. Me and my brother had purchased the house for 60 lacs and i have filed only one 26qb form in my name and deducted Rs. 60,000 TDS amount on the purchase value of 60lacs. However, am still confused whether i did it right or wrong. Pls explain if i missed anything or any non-compliance would give higher penalty ? Whether i had to file two 26qb forms for me and my brother showing the value of 30 lacs both. Pls reply am in trouble

My client sold his property last year for Rs.55,000,00/- but as per Municipal valuation property value was Rs.81,00,000/- more than 10% variation. Property purchased during 2005-06 for Rs.15 lakh. Is it fair to take 81 lakh as deemed consideration u/s 50C as we have sale agreement of Rs.51 lakh. Since the property is overly priced by revenue authority. which value should i consider under S/50C.

Mr. X has filed their ITR under New tax regime, now he wants to revised his return under old Tax regime. whether revise return is filed under old tax regime?

Dear Sir,

Unknow tds entry reflect in my 26S FY 2023-24, now what is solution because last of itr filing is so close, pls tell me solution? if i am not consider that tds entry, my return will be show invaild or mismatch show or if i consider that entry but if later on the deductor file the tds correction sheet then return will be show mis-match.

Please some solution?

In the case where installation involves some material , TDS u/s 194-C is applicable. So If I have a service order which mentions the material amount and charges for installation/fitting. Shall I consider the whole amount of SO for TDS applicability or only the charges for installation for TDS.
Attaching the case for reference

PURCHASE ORDER
Supply of Grundfos make pressure booster pump with integrated speed controller model Scala
2, horizontal mount with flow rate for 2 Nos Rs. 99,414.00
Installation, Testing and commissioning of the pumps (02 Nos) including all Pipe fititngs and
electric wires and all allied accessories. Rs. 20,000.00
Sub Total: 1,19,414.00
GST@18%: 21,494.52 Grand Total: 1,40,909.00

Please do let me know the applicability of tax audit to a proprietorship concern who have the turnover of Rs.5.6 crores, whether we need to go in for tax audit or self assessment is enough.