The Rent from April 22 to December 22 is Rs.20000/- per month. However, due to the change in agreement the rent from January 23 to March 23 has been revised to Rs. 25000/- pm month. Which makes the total Rent to Rs. 255000 per annum, crossing the limit of tds of Rs.240000/-. The assessee is covered under tax audit. So we started deducting tds from January 23. My doubt is weather we need to deduct TDS on Earlier payments also and if yes, will there be interest on delayed payment of tds as we are paying the tds now. Also should we file tds returns for earlier quarters also, showing the tds for earlier months.

We have remitted to pay the TDS amount of Rs.50,000 For Sec 194J for the month of Mar-2023, on 01-04-2023 through SBI, Amount Debited but challan not generated. On 16.04.2023, the above CRN has been expired.The above amount has not been reversed to our bank account till the date. What can we do do?

Dear Experts,

I have a query, i have deposited TDS in the month of September' 2021 amounting to Rs. 12000 and same TDS again i deposited BY MISTAKE in the month of October 2021. I have filed TDS Return for Quarter Q2 2021 claiming TDS of Rs. 12000/- But i haven't filed TDS Return for Q3 2021 as the amount was mistakenly deposited Now i need to know whether TDS which i deposited by mistake in the month of October' 21 can be claimed now without interest or penalty or whether i can claim refund of the same from the department.

Regards
Rajat Pandya

For the financial Year 2022-23 which is the Last date of Fourth Quarter TDS (26Q & 24Q) return submitted ?

2 Wrong material sent to Customer with 6 correct material. Now, we can replace the material through delivery challan?

I have a Design firm providing IT services (UX Design and development) services to various brands. It's a sole proprietorship. I personally work for customers and I have a small team who also work onsite for the customers and are billed hourly rate. How can I avail 44AD tax benefits. Also kindly explain what it would mean as an individual. Does it mean my total tax liability is 6-8% for total earninga or do I also have to separately file my individual taxes as per the tax slabs. In service industry how is profit calculated? How can I optimize my tax savings?

Hi Experts,

My Father has passed away on 2021.

We have a land and building on my Father's name which cost as below

Purchase of Land during 1987 Rs. 15000.00
Construction of Building with major and minor improvements Rs. 700,000.00
Re Construction of Building - by Availing Mortgage Loan
of Rs 20 lakhs Rs. 25,00,000.00

Total Cost of Property ( At cost Spent - market rate not considered) Rs.32,15,000.00

MY QUESTION IS

AFTER THE DEMISE OF MY FATHER, WE HAVE GOT THE LEGAL HEIR CERTIFICATE WHICH STATES THE LEGAL HEIRS ARE

MY MOTHER;
MY ELDER SISTER, MYSELF AND
MY YOUNGER SISTER

SINCE IM DOING PROFESSION AND PAYING INCOME TAX AS WELL AS THE ENTIRE LOAN AS STATED ABOVE ( TAKEN FOR PROPERTY)

MY QUESTION IS , WHETHER CAN I ADD THE PROPERTY IN TO MY FIXED ASSET SCHEDULE?

IF YES MEANS, WHAT WILL BE THE RATION?

SINCE IM PAYING THE 20 LAKHS LOAN TAKEN BY MY FATHER

WILL THERE BE ANY CHANGES IN RATIOS WHILE CONSIDERING THE PROPERTY

I am a member of the Soc & paying regularly Soc charges but recently Soc has started asking for balance payment &interest.I have given them last 3 years payments details.
I am asking Soc give me details of the balance payment & for what it has been charged .
They couldn’t find & they have started changing me the interest.
I will be thank full if u guide me in this matter

In cases where there are two buyers, we need to file two 26QBs. But I have confusion about what to fill in under the head 'Total Property Value'. If the property value is 1 crore and my husband and me are buying it jointly,
(1) Should we fill in the column as 50 lakhs in our individual forms or
(2) Should it be shown as 1 crore in both the forms? If the 'Total property value' is shown as 1 crore in both the forms, will the TDS be deducted twice?

If (1) is the right option, and suppose the total property value is 80 lakhs, which is jointly bought by a husband and wife, it needs to be filled as 40 lakhs each in both their individual 26QB forms. But then, since the individual amount is below 50 lakhs, it becomes such that TDS need not be paid.

So, kindly advise me as to which is the right option. Thank you.

The TAN is MRIU00428B. On 01.04.2023,TDS remittance of Rs.50,000/- had been made vide CRN-23040100040443 , the amount had been debited in the respective bank Account, but the challan has not been yet generated. Further, the Challan is still under ‘Generated Challans’ and the status of challan is showing ‘awaiting bank confirmation’, but the remitted challan are not available under ‘Payment History’ . Also, it is informed that the grievances have been submitted on 06.04.2023 in this regard. The CRN-23040100040443 has been expired on 16.04.2023. The above facts have been informed to IT dept via email.Hence,it is requested to suggest to download the remittance challan from the e-filing portal or the whereabout of the amount of Rs.50,000 which has been drawn from the bank account .The above amount has not been yet re credited in to the bank.Further, I request that what I can do do?