I booked the flat on construction linked EMI plan in 2009 and got the possession in 2017. However builder also charged me Interest on delayed payment of EMI. Please suggest If I can claim this interest u/s 24 of the income tax act. For example, if the interest is Rs 100, Can I claim 1/5th of the same Rs 20.00 in next 5 financial years after possession u/s 24 or other section of the IT Act.

Please suggest along with IT rulings and case study in such cases.

My quarry is as under.
1.Coloumn A21 of notified form itr4 for ay-2020-21 asks like this"Are you filing return under ththe 7th priviso of sec 139(1)"y/n -What does this mean ?since priviso said above is for mandatory filing of itr even though ypour income is below threshold limit ,Now my question is Whether the assesse whos income of the said ay-is not below threshold limit &is a regular assessee for the last 30years has to tick yesor no in this coloumn &secondly has to reply all the three questions mentioned as (i)deposit of one crore or more in current account or accounts(ii)spending 2lacs for forign travel(iii)spending more than 1lac on electricity consumption -if all assesses has to reply this questions than why they have writen as mentioned in col-a21?
2.In coloumn s-G1toG4 "PARTICULARS OF CAS AND BANK TRANSACTIONS RELATING TO PRESUMPTIVE INCOME"MY QUARRY IS AS UNDER;-
1IS ASSESSE HAS TO GIVE DETAILS AS ABOVE FOR ONLY THOSE TRANSACTIONS WHICH RELATS TO PRESUMTIVE BUSINESS OR ALL THE OTHER TRANSACTIONS ALSO?
2.BANK COL.DOES NOT ALLOW TO SHOW NEGTIVE BALANCE AS OPENING OR CLOSING BAL.IF ASSESSE DOES NOT HAVE CURRENT/SB AC OR HAS ONLY OD/CC AC WHERE ALWAYS NEGIIVE BALOF BUSINESSMAN IS THERE HOW THEY WILL PROVIDE THE ASKED INFORMATION .
3.APART FROM BUSINESS RECIEPTS/PAYMENTS THERE CAN BE OTHER RECIPTS SUCH AS SECURED/UNSESECURED LOANS,CAPITAL ENHANCEMENT ETC &ON PAYMENT SIDE WITHDRAWLS/LOAN REPAYMENTS CAN BE THERE WHICH DOES NOT RELATE TO PRESUMTIVE INCOME FROM BUSINESS.
4.LAST BUT NOT THE LEAST WHEN THEY WERE ASKED NOT TO MAINTAIN BOOKS OF ACCOUNTS ON REGULAR BASIS US 44AD/ADA/AE WHY THIS COLOUMN NOW WITHOUT AMENDING ACT?
ISHALL BE HIGLY OBLIGED FOR EARLY REPLIES /VIEWS ,
WITH REGARDS,

Dear Expert,

We have received the notice from the department stating following Points -
1. In schedule ER, amount entered in Sr.no.
19 [Total] is inconsistent with the sum of
Sr no (1 to 18) of Schedule ER.
2. In Schedule Part-BTI Assessee has
claimed exemption in sr no 4v “Amount
deemed to have been applied to charitable
or religious purposes in India during the
previous year as per clause (2) of
Explanation to section 11(1)”. As per
Rule-17 of Income Tax Rules, the
exemption is allowed only if assessee has
exercised his option by E-filing Form-9A
before due date. Since assessee has not
E-fiiled Form-9A before due date, the
exemption claimed in sr no 4v is not
allowed.
3. As per section 12A(1)(ba) Income Tax Act,
1961 the person in receipt of the income
has furnished the return of income for the
previous year in accordance with the
provisions of sub-section (4A) of section
139, within the time allowed under that
section. otherwise The exemption u/s-11
i.e. sr.no 4i and 4viii in schedule Part BTI
is not allowed

Can you Please guide, This notice is for FY 2017-18. Also there has been a delay in filling of ITR and 9A

While checking the validity of schedule Part A -General (2) in excel utility down loaded from e-filing site, I am getting an error that " For persons referred to in sec 160 (1) iii or iv, [partF] (1),(2) are mandatory to fill. Please select an option from drop down"
Trust does not have any persons referred in that section; and in part F of the sheet the relevant cells are not green, indicating they are not editable and hence selection from drop down is not accepted.
Please advise how to resolve this problem. Without resolution to this, 'calculate tax ' and generation of xml file is not possible.
In itr5 excel utility there is also no "set off" button to set off losses in one head against the other, hence how the set off will be computed?

My Company had received non refundable security deposit from clients which will be forfeited and recognized as income. Can anyone guide, whether GST will be applicable on such non refundable security deposit, which will form part of consideration.

If yes what will be the applicable GST rate?

section 9(4) RCM

to be paid if supply of g/s/both received from unregistered supplies exceeds 5000/- per day.
My question is 5000 is to be seen for a good or service or both and from individual supplier or aggregate value of supplies from all unregistered suppliers

please let me help to know how to delete form in ssp portal which is in pending status. By mistake i opened conversion form and made a click on save and next in personal details. Now i want to delete that conversion form.

Dear Sir,
Is RCM applicable on bill of supply. for an example. suppose a medical institution providing service to the employees of an organization & against of that service he provides bill to the company with out Gst so how the company will treat this bill under Gst

Can anyone please share draft reply for Notice u/s Section 270A for Section 14A disallowance?

I WANT TO KNOW WHICH ACCOUNTING SOFTWARE IS BETTER : TALLY / INTUIT.

PLEASE SUGGEST ME

THANKS.