Dear Sir,
One of our factory building has roofed with asbestos sheets. Now we have decided to install 1MW solar plant on that building and to utilize the power generated to our Yarn production. Hence, we have to replace the asbestos sheets with Metal Galvanized Sheet to hold the solar PV panels on it. Can we claim ITC on the metal sheets that we intended to procure?

Does the Section 17(5) restrict the claim of ITC for metal sheets which would have facilitate our Solar Plant installation?

Kindly advise us whether can we claim or not?

Thanks in advance.
With warm regards,
Bazeer L

LTCG OF 53000 & STCG OF 84000 FROM SHARE TRADING.CARRY FORWARD LOSS FROM FY2019-20 IS 2.3 LAC.PENSION PLUS OTHER INCOME 6.5 LAC AFTER AVAILING ELIGIBLE DEDUCTIOS UNDER 80C,80G,80TTB.USING COMPUTAX SOFTWARE ATTEMPTING SET OFF OF STCGOF 84000 LED TO SETTING OFF OF LTCG OF 53000 ALSO WHICH I UNDERSTAND IS WRONG SINCE LTCG UPTO 1LAC IS EXEMPT.PLEASE ADVISE WHAT TO DO.THANKS
RAJENDRA RAO

We're trying to upload the IT Return of FY 19-20 now on income tax portal. They've charged us a late fee of Rs. 1000/- but after that, they're not allowing us to upload the IT Return of the said Co. Now, as the company is new, no previous IT Return had been submitted before. FY 19-20 is their first ITR. So, No condonation request can be submitted in the portal. Kindly guide me to submit the ITR for FY 19-20.

Respected Sir,

The issue is related with TDS Return 26-Q for the Q-1 fy 2021-22. The related conso file is not getting imported.

Traces has informed us that wrong details in Challans for the Q-2, Q-3 & Q-4 Fy 20-21 has been filed and first of all the details should be corrected.

Traces have advised us to contact OLTAS for obtaining the details to be corrected.

What to do in such a case? How to contact OLTAS ? Please guide me and oblige.

Dear All,
Error when uploading Json File, generated from the ITR-5 Excel utility available in Income tax Portal

Invalid hash value identified, modification to ITR details outside utility is not allowed......

Hi Experts,
XYZ Indian company employs a UK person (He comes to India as and when required else works from home on requirement basis)
Pl. advise what is the tax structure in UK if he will get credit of tax deducted by company from his salary against his total tax liability payable in UK (he is having some income from UK).
Thanking you in anticipation.
Ramesh

We've to submit a rectification request for a company u/s 154. As a clerical mistake, we've ticked the "PREVIOUS YEAR SALE Rs. 400 Crore?" option as YES. So the taxation was on 30%. Now, we've to correct it. But as of now, IT Portal is giving only 3 options- 1. Reprocess of Return, 2. Additional Information for 234C Interest,& 3. Return Data Correction (Offline). Which option do i have to choose? or do I have to wait for sometime for activation of some specific option?

Dear experts,

My father retired in February 2021 but unfortunately he passed away due to covid in April 2021. He is due to receive bonus in December 2021. My query is whether this bonus from employer is tax exempt as ex gratia recieved from employer on covid death? if it is tax exempt upto what extent?

Kindly explain the purpose of Form 26AS.

Whether the Tax Credited should match with my books or the amount paid/credited should match with my books or both should match with my books.

In my case TDS deducted on account of Bank Interest matches whereas amount paid does not match with the interest received.

Our auditors says that both should match.

Kindly clarify.

Thanks.

10000 late fee is paid in income tax. Chellan copy is received
The amount is reflected in 26 AS web site.
Paid date : 8/Nov/2021
But I try to submit the Response outstanding amount income tax site. its show the error "Any open challan with such details is not available in the database for this assessment year."

What to do ... ?