Hi,
Can you please help determine my residential status and tax liability for FY 23-24?

See below the facts for reference:
- Assessee left India on 26th Sept'22 on Tourist Visa for self-employment purposes and got his visa converted Inside country (UAE) to Virtual Work Visa. Approved on 5th Oct'22. Virtual Work Visa allows working legally from UAE for clients based out of UAE.
- The Self-employment work I am carrying out is same work which was previously carried out from India. However, It is now being carried out from the UAE. (No connection with India as work is for US and EU clients)
- Stay in India was for less than 175 days
- Stay in UAE is 190 days (15 days on Tourist Visa and remaining 175 days on Work Visa) Did not return to India for the entire 190 day period after leaving on 26th Sept'22.
- Indian income is more than 15L

Important Questions:
- Will my purpose of visit be considered for Employment? As It is essentially the same work I am doing. However, I've moved out of India and now continuing my work from UAE.
- What will be my Residential status for the year? NRI? RNOR? ROR? and why?
- Will my global Income be taxable?
- Will there be any Issues because I came on Tourist Visa and then converted my Visa to Virtual work visa? I had to come on Tourist visa because there were visa processing Issues from India.

Thanks,

Notice for Penalty under section 274 read with section 270A of the Income-tax Act,1961
Ms/Mr/M/s,
The taxpayer is a partnership. A Piece of Land was bought in 2016 in partnership. 1,33,00000 has been awarded to the developer after signing the development agreement in October 2017. For that, he would get 9 Residential flat in consideration under development agreement. They have been received by the partnership in the financial year 2021-22. The details of those flats sold in financial year 2021-22. But the Income Tax Department has sent a notice that you have not filed the capital gains returns for the financial year 2017-18. But no any payment and consideration was received in 2017-18, it was received in 2021-22. Tax has been calculated and the notice has been sent to 270. What should be done?

Hi,
I forget to claim GST TDS FY 2021-22. Can I claim FY 2021-22GST TDS in Mar 2023.

Please advise.

Mr A and Mrs A are husband and wife.
Mr A invested shares of Rs 5,00,000 in FY 2016-17 in the name of Mrs. A.
Mrs A sold the shares in June2022 for Rs 50 Lakhs which is also the long-term capital gain for her.
Mr A purchased a house property for Rs 50 Lakhs in March 2022.
Query 1 - Mr A wants to claim 100 percent exemption under section 54 F. Can Mr A claim section 54 F for the purchase of house property after application of clubbing provisions of section 64 in his ITR.

Query 2 – Is Mrs A required to show sale of shares in her ITR or will it be shown in the ITR of MR A only.

Query 3 – If Mrs A shows sale of shares in her ITR, there will be tax payable in her return as the investment for 54 F is done by Mr A.
In case Mrs A is also required to show sale in ITR, how to reflect it without any tax liability?

Is Gate entry Fee contract for Collection Liable for GST ( APMC AND LOCAL BODIES)
if Yes
RAte and HSN

HELLO SIR/MADAM

MY FIRM IS PARTNERSHIP FIRM AND FOUR PARTNER IN THE FIRM ENCLUDING ME. SIR/MADAM FEW DAYS BACK I BOUGHT A NEW CAR AND FOR THIS SOME PAYMENT I PAID FROM FIRM ACCOUNT THROUGH CHEQUE AND SOME PAYMENT I PAID THROUGH CASH AND BALANCE PAYMENT I PAID THROUGH FINANCE WHICH I BORROWED FROM BANK WITH MY PERSONAL NAME BUT THE LOAN EMI IS DEDUCTING FROM MY FIRM ACCOUNT. PLEASE TELL ME HOW WE DO MAKE ENTERY IN OUR FIRM ACCOUNTS BOOK ?

Recently (from 20-03-2023) E-Filing site showing Restricted Refund for some people and for some Bank accounts.I observed that for 1 person Union Bank account shows as Eligible For refund and for some it is showing as Restricted Refund.I checked with bank and it is not Inoperative account.Regular credits & debits are there.No KYC problem and account is also validated & EVC enabled.Can anybody guide me regarding this issue.

Hi,

I purchased a property in year 2015 worth ~1Cr, with my wife being first owner and I being second owner of the property. We took a home loan from HDFC bank and they disbursed loan installments to the builder. Since my wife was first owner, TDS was deducted by her at 1%.

However, since my wife was not earning, she did not file income ta return for AY 2016-17. For this assessment year, there were total payments of approx 65 lakh to builder, on which TDS was deducted and deposited.

My wife has now received a notice under section 148 for reassessment of income. In this respect, I have following questions in consideration that we need to file for AY 2016-17:

1. There is no option to show property purchased in any ITR form, and she had no other income. Should we chose ITR1 or ITR2? Is there a place to indicate anywhere that she deducted TDS for property purchase?

2. We actually tried and prepared return XML using section 148 of income tax return preparation utlity. However when we try to upload it online, it shows only option to chose from u/s 92 CD and 119(2)(b). Section 148 is not an option.

3. We tried to choose section 139 in our ITR and it failed to upload again as now it asks for filing ITR after condonation of delay. However, online portal does not let us file condonation request as well, telling there was no return that was received after due date.

Please help how to approach this. We have never concealed any income and this return was not filed as there was no income.

Also, since TDS was deposited by my wife, is it recommand that my wife shows this amount as gift money received from me? I paid all EMI to bank.

Thank You in advance!

Dear Sir,

Receiving Rent w.r.t Redevelopment and would like to know if it is taxable.

Regards,
Robert

Treatment of Treatment of income tax and interest demand