Hi,

I have taken a break from job for higher studies. The only income is bank fd and savings interest.
On the online ITR1, I don;t see any refund for these even though my LIC and PPF are more than the bank interest amount.

Could you please advise how to resolve this? Thanks,

In order to claim section 54 exemption under Capital Gains, shall I invest in land and the purpose of purchase of land is to construct a house.
Assuming land cost already I have incurred and no construction cost till the due date of filing return of income and no amount has been deposited in the capital gain deposit account scheme.
In this case what is the exemption I can claim under section 54?

1. Will the write back of a ECB loan from foreign holding co by Indian co treated as Capital receipt ,this is done pre winding up of Indian co
2. Is MAT applicable on the book profits after the above writeback 3.Any Tax is to be paid on remitting equity to foreign co

Dear Sir,

I have received Rs. 2,40,000/- for 2 months from employer thereafter I retired. Now, my question is that whether can I claim standard deduction of Rs.40000/- or Rs. 6666/- only for 2 months proporationatly.

Is it compulsory to deduct tds on commission paid to E commerce website, as they directly deduct there commission from sales and just pay the net receipts after deducting there commission and 1%TCS. So you dont have any chance of deducting TDS.

For Eg:-
For FY 18-19
Mr X is Sole proprietor for Firm A (Having Trading Business) & Firm B ( Service Business), turnover for
Firm A :- 83,00,000 (Old Firm Already Having TAN No.)
Firm B :- 79,00,000 (New Firm)
Is already allotted TAN No. Can be used for TDS Deduction under both firms from current year FY 19-20?Is TDS deduction liability applicable under both firms.

Dear Sir

A person engaged in business of selling of agricultural product on commission basis, i.e., purchase agricultural produce from farmers and sale it to market via KRISHI MANDI, now as per current notification, no expenses shall be paid in cash in excess of rs.10000. does this transaction of payment for purchase includes in that payment, can he pay rs. 100000 in cash to those farmers ?

A person an Indian Resident worked in UK for 4 months for the A.Y.2019-2020(F.Y.2018-2019) earned $(Pound) 33,000/- and deducted tax thereon $(Pound)6,700/-. Please advise what shall the treatment of above income of UK income while filing Return of Income in India for the A.Y.2019-2020(F.Y.2018-2019).

Sir,

Sir, we have purchased 1 Samsung mobile phone for office Use.

Can we claim ITC and deprecation on mobile phone.

what can receive gift grandson from his grandmother by account payee cheque