vinu
02 January 2023 at 12:09

Income Tax on interest & Legal Fees

My NRI Friend wanted to purchase a Flat in Mumbai.He paid advance to the Builder.But the builders failed to construct the flat,and my friend filed a case against them.The court gave a verdict ordering the builder to pay back the advance amount along with interest.These payments were transfered to my Friend's NRO Account.He is an income tax assesse and has local income in india. Now my query is that ,is he liable to pay tax on the interest part of the sum received from builder or whole amount.Also can he claim deduction on the fees /expenses paid towards legal proceedings???


Ashish Bhalara

I missed filing the return for FY 2021-22 by dt.31-12-22 Now I filing a return u/s 139(8A) on dt.1-1-23 but during the validation, by uploading the JSON file the error shows that "You cannot file under section as the time limit to file under this section is over."
So, from which date I can file ITR-U section 139(8A) for FY 2021-22 or what is wrong with this error?


Rajeshpro badge

Can a Private Limited Company claim ITC of GST charged by a CS for incorporation of that Company?


Prajith Us
31 December 2022 at 18:56

Repair and Return

My friend send one equipment to service, its not working conditions and 3 year old used in hospitals, for customs clearance what are the documents i need to submit, whether i need to pay custom duty?


Suresh S. Tejwani
31 December 2022 at 18:14

Regarding ITR - U

Can we reduce refund from the originally filed ITR and file ITR - U with the corrected amount of refund ?


Gaurav Kapadia

This is a Capital gain Type A only 5 months old account, open in July - 2022 to deposit profit amount from my old flat selling. Now, I want to buy a new flat, property identify and stamp duty registration done. 50% payment paid to builder from my pocket and remaining I want to opt loan from bank.

My query is,
the amount which I kept in capital gain account, shell I self withdraw on my name from bank or it is not permissible?

The reason for above question is, I borrowed the money from my relative to deposit in capital gain account and now I want to return the same..


Gayathri
31 December 2022 at 11:51

100 years age

An individual completed the age of 100 years on October 2021. Is he eligible for tax and itr filling? Having pension income. Before Oct 2021(4.2lac)
After Oct 2021(2.6lac).
Total income 6.8 l for fy21-22


Kollipara Sundaraiah

Sir,
Sec 44ada professional income it person purchase of agriculture land value rs:10 lacs payment by cash mode in f.y.2016-17 year.if a person purchase transaction missing in f.y.16-17
Question:
Assessess purchase of agriculture land Missing Previous year transaction Present in f.y.21-22 show allowed in it act.


BISWAJIT MAIKAP

IF 31/12/22 IS THE LAST DATE OF FILING A.Y. 22-23 RETURN. THEN WHY WE WILL CALL IT AY 22-23? WHEN NO ANY WORK IN 2023! IS THERE ANY LEGAL EXPLAIN?


ASHOK KUMAR MUNNATAXCONSULTANT
07 January 2023 at 10:59

TDS calculater on salary

Dear member,
can u share excel sheet with formula (without password protected) TDS calculater on salary

ASHOK KUMAR MUNNA (C.A.)
8130491313
itax.info@gmail.com






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