Hello Experts,

Following is the case scenario:
Interest on Loan from NBFC was mistakenly not entered in Profit and Loss account for the FY 20-21, Also TDS was not deducted.
Now, if in the current year, if we decide to deduct TDS, can we claim the expenditure in profit and loss account?
I know that as per section 40, if TDS is deducted subsequently, the expense is allowed in that subsequent year. But in my case we didn't disallow the expenditure through Tax Audit report, but mistakenly didnt even debited it in PL in the first place. Can we still the claim the deduction?

Dear Sir/Madam,
My query is my client has done some construction work of a company and despite sending so many mails that party is not responding for confirmation as regards the work shown in his books of accounts for some particular month. Is there any other way through which we can find out how much work is booked by them ....our client has already issued bills but they are not aware whether that party has shown it in their accounts or not and they have deducted tds while making payment but its not shown in 26AS ...what can be done as regards both the things....they are giving so much trouble to my client. Kindly respond at the earliest.

Thanks and Regards

sir,
my query is... in the month of march'23 few invoices are submitted by the party after 16 april 2023 GSTR-1 , Which is reflected in GSTR -2B in the month of April'23.but he cannot submit GSTR -3B return till now. Can I claimed input credit in the month of March'23 IN GSTR -3B RETURN. IF NOT then how to maintain books of accounts. Because invoices dated 31st March'23. invoices are shown in GSTR-2A .NOT RELFECTED IN GSTR 2B MARCH'23 RETURN IT SHOWN IN APRIL'23 & MAY'23 RETURN ALSO. WILL MARCH'23 EXPENSES BE BOOKED IN APRIL'23& MAY'23? TDS IS DEDUCTED THAT TIME.

I have filed ITR 3,
error show at the time of validation..

Category of defect A :You will not be allowed to upload the return. Kindly correct below errors in order to proceed further.

1. In Schedule VIA, deduction u/s 80U for self with severe disability cannot be more than the maximum limit of Rs.1,25,000

Where I have not entered any amount under this section. 80U in schedule VI.

and clicking by clicking the error, no response was made from the site..

I superannuated from a PSU having own recognised PF trust. As per rules of trust the cpf can be kept with trust upto 3 years post retirement & applicable interest shall be
Credited to the account. On withdrawal after 3years in FY 22-23 interest income has been charged to tax & tds deducted. Can I claim exemption u/s10 for the same while filing the return for FY2022-23?

.

The taxpayer is an architect by profession. He has GST registration. He is regularly filing his GST returns by showing his all receipts from architectural profession; but he also start taking private tuition for math's and all tuition fee he received in his bank account. So my question is whether GST is payable on these tuition receipts or tuition fee are exempt ?
Please suggest , thanks.

Dear Experts,

In 1 of the case , erroneously there have been 2 pan cards for female assessee. Old PAN consists name before marraige and new PAN has name after marraige.

All income tax returns and bank accounts have been done with old PAN , however aadhar has been linked to new PAN.

Please advice whether I can surrender/cancel old PAN and continue with aadhar linked new PAN if all returns have been filed with old PAN since both PAN are in same jursidiction.

Pls advice

Regards

Hi,

I Have received agriculture land from my father as a gift.

But my father does not file IT return, even after can I avail exemption for this Gift ?

If Yes, Is this mandatory to show in my IT return that I have received exempt Gift ?

Hello Sir,
My mother has two seperate land purchased before 2001,Now want to sell the land .
(Tax planning)
land 1 sold on 20 lakh and LTCG 10 lakh
land 2 sold on 30 lakh and LTCG 20 lakh
(Scenario 1 : land 1's LTCG amount deposited on 54EC (CG BOND)
(Scenarion 2 : Land 2's enitre sales considertation amount deposited in CG account(BANK) and purchase new flat within 2 years(54F)
(Scenarion 3 : land 1 & Land 2 entire sales consideration amount deposited CG account (BANK) under 54F (1st purchased a new flat from CG account after 1 year again purchase new flat to utilise the unabsorbed CG(Bank)**
** Land 1 and land 2 Sale value 50 lakh (deposited in CG account) 1st flat purchase on 35 lakh after 1 year again new flat purchase to absorbe the amount

Can i do that?
Thanks,

I am 66 years of age I want to cancel my Profession Tax Number, how to do