Paras Chhajed
08 May 2022 at 17:28
The Honourable Supreme Court in January 2022 finally passed an order extending all due dates for filing of appeal which fell between 15.03.2020 and 28.02.2022 till 90 days from 28.02.2022. In case of appeals to be filed before Commissioner of Income Tax (Appeals) or Income Tax Appellate Tribunal against orders passed between the above referred dates does one need to compulsorily file an application for condonation of delay and also to file an affidavit in support thereof ? Kindly guide. Thanks
Paras Chhajed
01 May 2022 at 19:32
An assessment order under section 143(3) of the Income Tax Act, 1961 was passed by assessing officer on 30th March2022 which is signed digitally by him with an expired digital signature whose validity ended on 09th February.2022.
Please advise as to validity and legality of the assessment order digitally signed with an expired Digital Signature according to The Information Technology Act, 2000 or any other law.
Anonymous
07 April 2022 at 23:34
Respected Experts,
I have not claimed HRA exemption/rebate at the time of TDS from my salary in FY 2021-22. Can I claim HRA exemption/rebate at the time of filing IT return? My house rent per month is Rs.13500. I don't have rent agreement but I can show rent receipts and may pursue landlord to show his income from rent in his own IT return.
Regards
kunhi marakkar
04 April 2022 at 15:25
I sold my deceased fathers property . my share is near to 28 lakh rupees. if I deposit this money altogether in a single bank account will any tax deduction come?
Anonymous
03 April 2022 at 02:33
Hello,
Can I legally pay house rent to my father, who is a retired govt. servant, and claim tax exemption? The house is in my father's name and I plan to pay rent by online account transfer as a proof of payment.
Regards
abhimanyu
27 March 2022 at 08:00
My cousin filed income tax return on 25th December, 2021 but it WAS NOT verified. Later on, a few mistakes were realized in that return and on 30th December, a revised return was filed by him and WAS VERIFIED IMMEDIATELY after filing. Thereafter, many messages were received to verify the return but since REVISED RETURN was already verified, no action has been taken by my cousin.
As the return has not yet been cleared, the following queries arise
a) Whether my cousin has to verify his original returm only then his revise return will be considered or there is no need to verify the original return as revised return has been filed and verified also.
b) Whether a revised return can be filed only after original return has been verified.
abhimanyu
18 March 2022 at 21:34
One of my relatives proposes to purchase a residential property In Haryana on or before 31st March, 2022 the sale price of which is around 15% LESS THAN the CIRCLE RATE of that property . To put it differently, , the Sale Price of the residential property is appx. Rs. 20 lakh LESS THAN THE CIRCLE RATE OF THAT PROPERTY. KINDLY GUIDE TAKING INTO ACCOUNT EXISTING APPLICABLE LAW AND PROVISIONS OF INCOME TAX
1. WHETHER THERE WILL BE ANY ADDITIONAL LIABILITY OF INCOME TAX ON THE BUYER OF THE PROPERTY;
2. IF ANSWER TO THE ABOVE IS IN AFFIRMATIVE, HOW MUCH WILL BE THE LABILITY AND WHETHER THERE IS ANY WAY TO AVOID THAT LIABILITY
Anonymous
01 March 2022 at 17:27
If a agent import behalf of principal (outside india), to do basic assembly work and supply to customer in India on behalf of principal. (Principal will raise invoice to customer in USD from outside india)
What will be the following impact
1. Custom duty who will pay also valuation of goods. (we can registor the bill of entry in customer name?)
2. agent will raise service charge to principal
3. GST impact to supply of goods to customer in india
Nishit Kantha
11 February 2022 at 13:39
My niece aged 27 yrs purchased a flat in Dec 2020, by securing loan from a private bank, of which she is also an employee. Every legal formality was fulfilled, except the Letter-of-intimation; partially it was unawareness that she too needs to submit, as she thought it was applicable only to Govt. employees, and if she was supposed to submit, she thought the financing bank would facilitate as all other legal documentation were carried out while granting the loan and partially because pandemic broke out soon thereafter and she was working from home, so she didn't clarify.
Now someone said she will have to pay the stamp duty once again and generate new challan etc, only then she can submit. My question to Honourable experts here:
1. Is this Rule (of mandatory submission of Letter-of-Intimation) on purchase of flat applicable to Private Sector employees as well?
2. If yes, since all payments including Govt. Duties, are done, can she not fulfil this requirement now, at best with some penalty but not needing to pay the entire Stamp Duty once again? what is the best redressal that can be sought for this oversight?
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Income tax on state government department
Various battalions of state special armed forces are set up at various locations by the State Government. The battalion is headed by an IPS officer Hindustan Petroleum Corporation Ltd. has allotted a retail petroleum outlet to the battalion. The battalion got allotted PAN under the Government Category (PAN-AVCGB1453K) and also got GSTIN before commencement of business of selling petrol and diesel. The turnover during the year 2021-22 was Rs.8.53 crores and net profit was Rs.9.75 lacs.
Please advise whether the battalion is required to get its account audited u/s 44AB of Income Tax Act, 1961 and whether it is required to file its return of income. What would be the status of battalion for filing return of income, which ITR would be applicable and what would be the rate of income tax.