As per section 285BA of the Income Tax Act 1961 & under rule 114E of the Income Tax Rule, 1962. It is mentioned under SFT 005 that "One or more time deposits ( other than a time deposit made through renewal of another time deposit) of a person aggregating to ten lakh rupees or more in a financial year of a person" shall be reported to Income Tax Department.

Does it also apply to transactions on NRE accounts as these are non-taxable? I understand @CA R SEETHARAMAN had mentioned that there are circulars from IT department to confirm these don't have to be included for reporting by the bank but haven't found them myself.

Anyone can point me to the circular?

Sir,
Demand raised for inoperative PAN (Pan not linked with Aadhaar on the date of filing TDS return). Now PAN is linked to Aadhar and status of Pan is operative.
Do we need to pay total tds @ 20%. Or since PAN is operative now, can we file correction statement without paying 20% tds. Plz guide. This is for 26Q for Q2 of FY 203-24.

Dear Sir,

Please guide us on the rejection of the ITC claimed in GSTR 3B filed beyond the prescribed limits mentioned u/s 16(4) of CGST Act. The interest & late filing fees were paid along with Form GSTR 3B. A notice is received from the dept rejecting the ITC claimed and the payment of this ITC.

Can an assessee challenge this further? or he has to pay these ITC??
Kindly guide.

Regards,
Suraj

Please suggest me good book which should be practiced for CA Inter May 2024 Exams in Cost accounting

dear sir

i filed individual itr-1 for ay 23-24 on 30.06.23 and forgot to mention long term capital loss in the same
now i am trying to file updated return-2 under 139-8a using the income tax utility it is giving me following error:-
string does not match pattern pls advice

Dear Sir,

We are registered under Gst in Uttarpradesh and we are Rented a Property in Delhi for Office purpose but we did not take any GST registration in Delhi, now landlord (Registered in Delhi) issue an Invoice and charge igst 18% on rent on Uttarpradesh Office.

Can we take itc claim????

IS LTC TAXABLE IN NEW TAX REGIME?

Sir.
Last month we have an export of service. We file November return as export of service in Gsrt1 and 3B.we make this transaction as "payment with Gst".
Lets me know process of refund in case of export of service.
We have gotforeign exchange transaction details in Bank.
Please advise
With regards
Binu

Sir,
we purchase an e pass token ( usb token for DSC- computer acc.) recently, for Rs. 500/- . Given the fact that benefit derived from the item would be more than 12 months, i am wondering whether i should capitalise the item. Note the actual DSC ( the item that is downloaded in the usb token- shown differently in invoice) has one year validity and hence will be shown as expense

Hi,

I did a mistake while filing 26Qb form and I deduct all the TDS but property is in joint ownership with my wife. Could anyone please help on how I can rectify it if property registration is already done.