Dear Sir,

If I am earning a rent income of suppose Rs. 52,000/- a month from an individual person then is it mandatory to deduct TDS on this amount. The property is in the name of 2 persons.

Is there any way to avoid the tds compliance?

Regards,
Divyesh Jain

we ( mywife first holder and myself joint holder eventhough i have not contributed any money ) had bought a flat for Rs 8 lacs in 2000 in pune. now we want to sell the same which may fetch around Rs 50 lacs .due to pandemic we are not getting a buyer for our rate but we want to buy another flat in pune only which is costing around Rs 80 lacs. now my query is if we buy the new flat from our savings now and sell the old flat later shall i get exemption from long term capital gains when we sell the old flat if yes within what duration we should sell the old flat to get the benefit of incometax on long term capital gain . if tax is payable ,do both of us have to pay incometax on long term capital gains or only my wife as my contribution was zero in buying that flat. also whether the new flat has bought in the same names and same order(my wife first holder and myself joint holder) as per the old one if we want to claim the tax benefit .

Sir

We have received an Invoice for an amount of Rs.52 Lacs which is prepared by our Vendor on 19.03.2021(Invoice Date 19.03.2021) against our Purchase Order. Now we have to release the payment in July 2021. whether TDS u/s 194Q is applicable? he also claimed TCS @0.075%.
Our company's turnover is more than 10 Crores hence, not liable to pay TCS as per the New Provison.
pl. advise.

WE ARE A BUYER & HAVING SALES TURNOVER ABOVE 10 CRORE IN PREVIOUS YEAR .
OUR PURCHASE UP TO 30.06.21 IS RS.20 CRORE & ON 01/07/2021
WE MADE PAYMENT TO OUR CREDITORS FOR RS.5 CRORE.
CAN IN THIS SITUATION WE ARE LIABLE TO DEDUCT TDS U/S 194Q
ON PAYMENT OF RS.10 CRORE

Sir,

Total purchases exceed from X party 50 lac
Shall we need to deduct TDS u/s 194 Q on bills received prior to 01.07.2021, which were due for payment Or Not. plz clarify.

Than Q

What is the taxability on sale of villas cum sites made out of non converted agricultural lands. These agricultural lands are received by way of gift from his brother for Rs.4 crores for 8 acres of land. The assessee wants to develop and sell these agricultural lands into villas along with 5 guntas/cents of land without converting them. The cost of development will be added to cost of land, our question is whether these sale proceeds are exempted (since the agricultural land is not a capital asset) or not.

Dear Expert, One my client who is salaried employee , sold the aguriculture land situated in rural area during the FY 2013-14 . As per sec. 2(14) aguriculture land situated and rural area is not the capital assets, hence we have taken as a capital receipts not shown in ITR 2 in the col. of exempted income. My query is since it a capital receipt not a income, is it necessary to show in col of exempted income. Now he has recd. 148 notice, what is reply to be given , shall we include in exempted income and file return in response to notice u/s 148 or simply reply can be given please treat the same in response to your notice by quoting detail earlier return filled .

What will be the late filing fees of TDS Return 24Q of Q1 FY2020-21. if TDS has been deposited before due date i.e 07-07-2020 and there are no dues.

Dear Expert, As one of my client purchase flats for their employee and term & condition of employment is employees can stat in that flats and those employees who will in continuation of job will get for 10 yrs. will be give the flat at free of cost after 10 yrs. My queries are as follows :
1. How to calculate perq till they are in employment at what basis for free accomdation.
2. After 10 yrs. if flat will be given to employee, what will be treatment in the hands of employees will be treated as capital Receipt or Revenue and same way for employer, any capital gain will attract.
3. can employer claim depreciation on flat, since all above are in terms of employment.

Hello m ca final student my articleship registration date is Oct 2017 and it offically ending on Oct 2020 i.e. 3yrs but due to extentions am still serving last 6 months articleship period in june 2021.
M getting emails from the ICAI to reregister yourself before july 2021 but due to exams pressure to be held in july 2021 I haven't filed any reregistration form or termination form.
After exams m completing my articleship with registration kindly guide me how to del with it after my exams or else as per ICAI mail my result will not be declared.