My query is ,
My uncle retired from a PSU in June'2023. Employer shown a deduction of Rs. 71130 u/s 80CCD(2) in Form 16 part B (TRACES) and deducted the TDS accordingly. Now when I am going to file the return AY 2024-25(FY 2023-24) in ITR 2 , System is showing "Amount eligible for deduction under section 80CCD(2) = Rs. 0 "
why is this happening ?

1) retired person is not eligible to claim deduction u/s 80CCD(2) ? (then how the employer show the deduction amount in TRACES Form 16 part B ? )
OR
2) it is a system fault ?

Is a return of income processed by CPC u/s 143(1) subject to audit by CAG while auditing the assessments made by the Jurisdiction Assessing Officer?

The audit party carries out audit of assessments made by the Assessing Officer to check if there is any leakage of revenue.

Facts : a return of income of a company was filed well within the due date and the same was processed by CPC with no demand no refund. There has not been a scrutiny assessment against this return. While carrying out audit at the office of the jurisdictional assessing officer. A scrutiny assessment of a return of succeeding year was done by JAO and while audit of that assessment the audit party found that there has been an amalgamation of another company in the preceding year in terms of approved scheme and shares were allotted to the shareholders of the amalgamating company. The audit objection is with reference to valuation of shares.

which is the best software for filing income tax return ?

Dear Sir,

Is any rule of gst act, that can we calculate output gst on basis of profit percentage? or we can pay gst with forwarding charges basis, create invoice & charges gst on it?

For example:- we have recd. fees 20000/- and 10% is my profit Rs. 2000 now i will be gst on 2000 @18% Rs. 360/- or we have to pay gst on Rs. 20000*100/118 = 16949.15 (taxable) Gst is Rs. 3050.85.


please reply.

Thanks & Regards,

Dear Sir/Madam,

"A" sells goods to "B" company. The sale invoice contains freight charges.
GST is applied on whole of the amount (Basic + Freight charges)
Freight service was availed by "A" from "C" company.
"B" company makes payment to "A".
Now, "A" is required to make payment to "C" (freight service provider).
My question is: Whether "GST" would again be applicable (by RCM method) between the transaction of "A" and "C".

Which ITR is to be used by banks for filing Income Tax Return?

Sir,
We have done export under LUT without IGST but such shipment has been return to India so please let us know that we have to pay IGST on such return shipment or not?

Dear Sir,

Is any rule of gst act, that can we calculate output gst on basis of profit percentage? or we can pay gst with forwarding charges basis, create invoice & charges gst on it?

For example:- we have recd. fees 20000/- and 10% is my profit Rs. 2000 now i will be gst on 2000 @18% Rs. 360/- or we have to pay gst on Rs. 20000*100/118 = 16949.15 (taxable) Gst is Rs. 3050.85.


please reply.

Thanks & Regards,

pls guide

When it is compulsory to quote DIN number in GST Notice and other related communications ?