One of my friend committed a error in ITR of this year he claimed some wrong deduction due to which he got excess refund of amount Rs. 76100 now he wants to return the excess amount to department..... what is the process to return it so that he may able to protect himself from different panelty
Property benami transaction treatment
Sir,
(A) Assessess purchase of house in name for sister in law (B). payment made by A .but A and family live in house
Question:
Above transaction benami transaction treatment in it act.
How to submit replay notice under section 274 read with section 271D of incometax act 1961
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Hi,
What will be the Tax effect on Money Gift from Father to Son or to Daughter-in-law.
Is it taxable or exempt?
Please guide.
Thanks
Umesh
Surplus TDS
Dear Sir,
Case detail:-
if i am purchase a property to some one of Rs. 1.80 Cr
Circle rate and stamp value Rs. 2.03 Cr
Sales Consideration Value Rs. 1.80 Cr
TDS Deduct on 2.03 Cr-Circle Rate Value
But Seller reject circle rate value and tds accept only Sales Consideration value Rs. 1.80 Cr
Now as a purchaser we can use tds further in any other section.
Should a seller pay GST on the real estate broker's commission
I am selling a property in Bangalore. My real estate broker says that I have to pay GST of 18% on his commission for the services rendered? Should I pay this GST? or is it the broker who has to pay the GST on his income?
Revised return 23-24
Sir,
Can we file revised return after process tax return due to deduction under section 10 forget to claim in return.
Penalty 234 A B C when it is applicable
Dear Experts
Can you please help me to know when these penalties are applicable 234 A, B, and C
Thank You
Vijith T K
GST on Hiring of Vehicle by GTA
Sir,
I have Business of GTA (Goods Transports Agency) under FCM and Paying GST @12%. But now I'm hiring goods from unregistered persons to provide GTA service. Hence I want to know, Should I need to pay GST on that hiring amount under RCM, If Yes then what is the rate of GST.
Kindly help in this regards.
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Wrong income tax refund