Respected Colleagues,
If person filed Form 10E of AY 2022-23 with wrong figures and assessee claims relief in ITR but IT dept. determined demand without being given effect of Relief in Intimation 143(1) due to Form 10E not filed proper, now can assessee exercise rectification of ITR and Form 10E to rectify the clerical mistake ? Kindly provide alternate way out to nullify the injustice demand............Regards

I used the SAC code 998898 for Job work of Ms fabricated material instead of SAC code 998873 in multiple E Invoices. What is the penalty for that mistake?

If resident parent gifts real estate to non-resident son, does it trigger any reporting obligation or have any tax implications?

Sir/Madam, I have a small doubt regarding section 192 TDS on salaries and section 15. Salary head charging section..

u/s.192 TDS on salary need to deduct by employer at the time of payment of salary for example if april-2023 month salary paid in 2-may-2023 then tds need to deposit to government by 7th of june-2023 both for government employees and non government employees. like same march-2024 month salary paid in april-2024 we need to deposit the tds in may-2024 that means salary related to fy.2023-24 but the same is reflected in fy.2024-25 to the extent of march-2024 salary.

But sec.15 says tax need to pay on salary due or receipt basis which ever is earlier.

Based on above there is conflict between sec.192 and sec.15 as under sec.192 we are getting salary details on our form 26as from march 2023 to february-2024 but based on sec.15 we have to pay tax on salary earned from april-2023 to march-2024.

Can you please clarify my above doubt as sec.192 wording are like this.......income-tax computed on the basis of the rates in force for the financial year in which the payment is made, on the estimated income of the assessee under this head for that financial year.

Thanks in advance

Some people in markets swipe credit cards and give cash to the card holder for a commision.

My first question is, Is this legal to do so?

Second question is, what is the income tax treatment on such commision received by the person doing this kind of business?

Third question, Some sellers doing these transactions via their POS system, not selling anything but giving away cash against these swipes although they are genuine merchants, what is the legal view on this?

Please reply,

Thanks

Dear All,
I want to surrender tally in of my syste, then Iam uloading this one to another system.
whether InHave to take back up to restore in second system.orthe data atomatically will come

Thanks and Regards

Sir, my question is
If I transfer the money through gift deed to my son and then my son transferred that amount to his mother (to my wife account) through gift deed then :-
1. Is it legally OK?
2. The income incurred by my wife on that amount will be accounted her income?
3.Will tax authority will inquire from my son and my wife from where they received amount, if the amount will be more than 10 or 20 lacs
4. I retired from govt job and I want to save tax, so I want to transfer the amount in my wife who is housewive and my son's account whose income is between 5 to 7 lacs.

5. Sir I filed ITR for FY 23-24 according to form 16 as issued by my employer and I got confirmation from IT Deptt u/s 143(1)which confirm that their is no tax liability and ITR is OK. After filing ITR my employer generate revised form 16 in which my income is less than as previous form 16 and as per revised form 16 no tax liability has increased.
My question is..
1. Should revised ITR to be filed as their is no changes in tax liability (in previous form 16 Part A they show my leave in cashment 23 lacs instead of 11.50 lacs and they modified in revised form 16 Part A)
Thanks sir and waiting expert advise
Regards
CD SHARMA
🙏

Schedule AL is required if total income > 50L. For an NRI, does the 50L threshold apply to Indian income or global income?

Partners whose books of accounts is not required to be audited so due date for such partner return will be 15 Nov.?

If an individual holds more than 2 residential houses, deemed rental rules apply under Section 22 of ITA. Do the rules apply if the individual holds multiple residential land plots i.e. land only with no construction?