mukesh rawat

sir My Salary is Below 4 Lak but tax charge 20% reason for in - operative account. its correct ??


Farhan fahee

Can i claim deduction for tuition fee u/s 80c which is paid using education loan taken?


Deepak Shara
26 June 2024 at 23:15

Taxation on accrued interest

In case an FD spans over more than one financial year, then the accrued interest at the end of the first financial year is added in income as accrued interest and TDS is deducted. In the next financial year, the interest is paid, so the interest received is added in this year, meaning that the amount equal to the accrued interest is taxed twice. Is it that the banks will show the interest paid in current year after deduction of the accrued interest in the last year? ls this the practice adopted by the banks or they add complete interest paid as income for the current year?


Suresh S. Tejwani
06 August 2024 at 12:26

Regarding GST Notice

ABC GST party claimed ITC before 30th November 2021 of the year 2019-2020 but order has been passed. So, as per Rules point no.6 53rd GST Council Meeting to Section 16(4) benefit will be able to get in appeal or order will be revised?


https://taxguru.in/goods-and-service-tax/recommendations-53rd-gst-council-meeting.html#google_vignette


Neelam Parab

Sir,

below Error while deletion of Salary Detail Record in RPU Utility. ( 24Q 4th Qtr Rtn for FY2023-24)

T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances under section 10(14)'.


CA Ritu Chauhan
26 June 2024 at 18:14

Income of a Non-Resident

A person has gone abroad for studies. When he was still resident, he had received gift from his mother for further studies in foreign country. This gift amount was then transferred to his bank account held in foreign country. Since the entire course fee was payable in installments, he temporarily parked the surplus funds into a Global Mutual Fund. Then as and when required he used to redeem mutual funds & utilise the proceeds for payment of course fees & his daily routine expenses. The question is, whether capital gain earned on redemption of such global MF will be taxable in India in the hands of the person (the student) where his residential status is 'Non-Resident'.


KRISHNA RAJ
26 June 2024 at 17:26

NSC Interest Taxation

Last year (FY2022-2023) I paid tax on NSC interest on maturity/ receipt. This year FY2023-2024, AIS shows NSC interest on accrual basis.
Being in new tax regime, is it OK to pay tax on NSC interest on maturity/ en-cashment/ receipt ? or is it necessary to pay tax on NSC interest every year on accrual basis ?


Keyur

Sir/Madam

Request to clarify me whether income received from above subjected is taxable or not ??
if yes then under which head??


Huda Ansari
26 June 2024 at 17:07

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Sanjay

Sir,

I have below query :

I am salaried income along with Short & Capital Gain for the FY2023-24
1) Income earned from Salary is Rs. 412029/- deduction is Rs. 13142 HRA , Rs. 2400 Professional Tax, Rs 50000/- Standard deduction.
2) Interest from FD is Rs. 33640/- and dividend for share Rs. 11906/- 3) Deduction under section is Rs. 150000/-
4) i have earned short term profit is Rs. 28406/- and Long term profit is Rs. 124955/-

Please guide me whether i am taxable for capital gain i.,e short term amount of Rs. 28406 and long term Rs. 24955 after exemption Rs. 1 lakhs
but my total income is below 5 lakhs (including salary, interest on FD, capital gain) after deduction .

Thanks & Regards