Dear Sir,
Its mandatory to Claim 80C deduction Can We file ITR without Claim 80C deduction taxable income before 80C deduction Rs.410000/-
Sir
As per my knowledge tds on professional services of chartered accountant/cost accountant services applicable @10% and need to deposit u/s194 j(b) but on new platform of tds on income tax portal this section is not appearing .only option is 194 j is coming .can we pay tax u/s 194 j for 194j(b) services?
Mr A and Mrs are husband and wife.
Mr A gifted shares to Mrs A worth Rs 5,00,000 in 2010-11
Expecting the shares to be sold in current financial year, Mr A and Mrs purchased a house property (joint ownership between Mr A and Mrs A) for Rs 50 Lakhs in March 2022. Mr A provided Rs 20 Lakhs From his personal funds and Rs 30 Lakhs through joint home loan.
Mrs A sold the shares in June 2022 for Rs 50 Lakhs which is also the long-term capital gain for her. The sale consideration from shares was credited in her account and the home loan was disposed off.
Income from sale of shares is to be shown in the ITR of Mr A after application of clubbing provisions of section 64(1)(iv) in Mr A ITR.
Mr A wants to claim exemption under section 54 F for investment done by both Mr A and Mrs A, in purchase of joint property, as Mr A provided Rs 20 Lakhs from his personal funds and Rs 30 Lakhs through joint home loan which was disposed from sale consideration of shares (the money was credited in bank account of Mrs A and loan was disposed through check)
Query - Whether or not eligibility claim of Section 54 F will be accepted by the Income Tax department regarding joint investment / joint ownership of residential house with both Mr A (transferor) and Mrs A (transferee) eligible to claim section 54F on sale of shares.
Please support with relevant case laws, if any.
We are unable to file pt return for the period April 22 to March 23 as some errors generate on the mstd site.
I raised an invoice dated 30/3/23 for 20 lakhs including 18% GST.
31/3/23 was the last day of company operations.
I have paid and filed GSTR1 and 3B by 20th april. Now customer is willing to pay only 5 lakhs and asking for 15 lakhs credit note.
What will happen to GST I paid?
As I will closing LLP, its like I can show loss in FY23-24 which is of no use and also paid GST.
What are the options?
what is Major difference between TDS section 194C and 194M.
When to deduct TDS under section 194 M and what is criteria to apply under section 194M.
please help me out. i want termination in the 3rd year of articleship due to financial problem . i have no fund to live so i want to go back to my home to raise fund. I don't know how long it will take to raise funds. so tell me what should i do and what reason do i give for termination?????(i am direct entry student)
An American married an Indian resident and he wants to bring money from USA to buy a house in India. What are legal compliance? and Income tax liability if any ?
I have made mistake while paying annual PT. Instead of paying 5K I have paid only 2.5K (only for principal business. Kindly let me know how to rectify it.
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