we have sold complete material worth 15 lacs to another firm which is in the same building. but we forgot to generate the eway bill. because the material is not moved anywhere. just raise the invoice to the newly stated firm. is it right or offensive? if offense what will the solution to rectify the mistake. Please urgent ....

Hi,
I am a freelance producer. As a producer, I often have to receive services from other freelancers > package them along with my service and then bill my client for the total.
Example:
I am doing the casting for a video production for a client.
I hire actors who are both charging 50,000 each. Therefore, the total is 1,00,000.
I am charging my casting fee as 50,000.
I generate the bill with the following items:
1) Actor fees --- Quantity: 2 --- Cost: 50,000 --- Total amount: 1,00,000
2) Casting fee --- Quantity: 1 --- Cost: 50,000 --- Total amount: 50,000
Total invoice amount: 1,50,000

How much TDS does my client deduct while making my payment to clear this invoice?

Additional info:
- I am not gst registered, therefore will not charge any gst.
- The actors I am hiring are not gst registered, therefore they won't charge me any gst
- The actors will generate an invoice to me and will receive the payment from me (not from my client directly)
- I do not have a TAN and will not be deducting TDS while making the payment to the actors.

Dear international Taxation Expert,

1) If Singapore company issues reimbursement invoice to India company as per Joint venture project.
2) Will India company be liable to deduct WHT on reimbursable invoice?
3) Will India Company be liable to deposit RCM on reimbursable invoice?

please confirm, give the answer with notification.

Dear Experts,

Find that entire shareholding for TCS tendered in BuyBack is bifurcated into long term & short term in AIR- annual information report ; and computed as capital gains.
Actually only a fraction of shares got accepted and that too is tax exempt.
How can we report / communicate the discrepancy before filing to get it rectified in their system otherwise it may come up for scrutiny.

Thanks in advance 🙏🏻

One of my relatives did some intraday stock trading in last financial year, he is salaried, working in a company (office job: 9 AM to 5 PM).

He pays monthly broadband bills of his residential premises issued in his name via online mode but during market trading hours he was in the company office. However, for learning and planning of the intraday trades, he utilized the internet broadband connection of his residential premises.

Can he claim the expenses incurred towards monthly broadband bills of his residential premises?

What other expenses can he claim besides these expenses and apart from "Stamp duty", "Brokerage", "Securities Transaction Tax (STT)", "IGST", "SEBI turnover fees" & "Exchange transaction charges", with respect to this speculative business (intraday stock trading) income / loss?

Is it necessary to have proofs or invoices of all such expenses?

If some payment was made in cash for repair of laptop or buying its accessory utilized to learn and plan the intraday trades but no invoice received, can he avail this expense?

Please respond in detail in an elaborative manner.

The basic of Mr X is 1 lakh PM. He has paid rent of 120000 (20000 om for 6 month ) for rest of 6 month he worked from home .
While calculating HRA exemption one of criteria is
Rent Paid. 1.20 lakh
Less 1/10 basic 1.20 lakh
12 L /10 .
If 1/10 of whole salary is calculated he is not getting any exemption .
Can he consider 6 months basic ( 6 lakh ) as he has paid HRA of 6 months only . Is this logic is correct ? Then he is getting exemption of 60000 . ( 120000 less 60000 )
Please guide

Sir,
It assessee (son)property gift received from father value rs:25 lacs.registration and stamp duty charges paid by son.
Question:
Above mentioned transaction show procedure for son in accounting books entry and it returns

Assessee had invested through a broker by giving liquid funds & shares as margin money & broker was trading on behalf of the Assessee by giving regular returns.

Later the broker got bankrupt & all shares along with liquid funds were stuck with the broker.
As the broker has pledged the shares for trading all the shares were lost by the assessee as there was no recovery from the broker.

Later the assessee alongwith other sufferers from the broker filed a complaint with NSDL regarding the matter against the broker house.

Against the same an lumpsum amount against the total value as on the date of broker becoming brankrupt was released by NSDL which is hardly 25% of the total loss.

So, how to account for the amount received from NSDL in the hands of the Assessee and its tax implications.

Query
1. whether the same will be adjusted against liquid funds or shares?
2. Capital gains / taxes arising on the same and at what value ?
3. Can this be treated as exempt as compensation received from NSDL ?

When I try to upload my return, I get the error "Schema error occurred while submitting your form, please try later" This is while using V 1.1.10. How do I overcome this?

My mother is a pensioner who gets a pension from the Post Office with no HRA. She lives in a rented accommodation in Kolkata. I am trying to claim 80GG for her, but I get an error "Deduction u/s 10(13A) and 80GG cannot be claimed for the same period", when the entry against Section 10(13A) is 0. Please clarify